Today is 05/19/2024
| Home > Soybean Crushing Margin Estimates in China- 31/10/2019

Soybean Crushing Margin Estimates in China- 31/10/2019

2019-10-31 www.cofeed.com
Theoretical Crushing Margins for Imported U.S. Soybean (RMB/tonne, Nov shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,280  3,170  3,698  4,250  150 -703 4,059 
Qinhuangdao, Hebei 6,380  3,170  3,717  4,250  150 -684 4,035 
Costal Shandong 6,470  3,160  3,726  4,250  150 -674 4,014 
Jiangsu 6,440  3,100  3,673  4,250  150 -727 4,021 
Guangdong 6,570  3,030  3,642  4,250  150 -758 3,989 
 
Theoretical Crushing Margins for Imported U.S. PNW Soybean (RMB/tonne,Nov. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,280  3,170  3,698  4,139  150 -592 3,919 
Qinhuangdao, Hebei 6,380  3,170  3,717  4,139  150 -573 3,895 
Costal Shandong 6,470  3,160  3,726  4,139  150 -563 3,873 
Jiangsu 6,440  3,100  3,673  4,139  150 -616 3,880 
Guangdong 6,570  3,030  3,642  4,139  150 -647 3,849 
 
Theoretical Crushing Margins for Imported Brazilian Soybean (RMB/tonne, Nov. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,280  3,170  3,760  3,325  150  285  2,809 
Qinhuangdao, Hebei 6,380  3,170  3,780  3,325  150  305  2,784 
Costal Shandong 6,470  3,160  3,790  3,325  150  315  2,761 
Jiangsu 6,440  3,100  3,737  3,325  150  262  2,768 
Guangdong 6,570  3,030  3,708  3,325  150  233  2,735 
 
Theoretical Crushing Margins for Imported Argentine Soybean (RMB/tonne, Nov. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,280  3,170  3,635  3,278  150  207  2,908 
Qinhuangdao, Hebei 6,380  3,170  3,653  3,278  150  225  2,886 
Costal Shandong 6,470  3,160  3,661  3,278  150  233  2,865 
Jiangsu 6,440  3,100  3,608  3,278  150  180  2,872 
Guangdong 6,570  3,030  3,576  3,278  150  148  2,842 
 
Crushing Margins for Port Distributed Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,280  3,170  3,666  3,470  150  46  3,112 
Qinhuangdao, Hebei 6,380  3,170  3,685  3,470  150  65  3,088 
Costal Shandong 6,470  3,160  3,693  3,470  150  73  3,067 
Jiangsu 6,440  3,100  3,640  3,470  150  20  3,074 
Guangdong 6,570  3,030  3,609  3,470  150  -11  3,044 
 
Crushing Margins for Domestic Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Heilongjiang 6,430  3,320  3,685  3,430  160  95  3,202 
Dalian, Liaoning 6,280  3,170  3,541  3,550  160  -169  3,382 
Qinhuangdao, Hebei 6,380  3,170  3,557  3,570  160  -173  3,387 
Boxing, Shandong 6,520  3,180  3,587  3,590  160  -163  3,384 
Remarks:
1. Imported Soybean Cost: intraday soybean cost from the United States calculated  with the CBOT price; Port distributed soybean: subject to prices at Shandong ports; Domestic soybean cost: purchasing price in Heilongjiang+ freight to factory.
2. Imported soybean: Oil extraction rate 18-20% and meal 79%;
   Domestic soybean: Oil extraction rate 16% and meal 80%.
3. Estimated margins and actual profit in mills may have some differences as mills usually use their inventories or have already locked the cost previously, which may be different from intraday soybean cost on the basis of the CBOT price.
4. Soybean Break-even Price is calculated with intraday soybean cost and soybean oil price, and when the crush margins is ZERO, then it is soybean break-even price.

Print Close