Today is 11/16/2024
| Imported Soybean Crushing Margins - 11/11/2019 | |||||||||||
| Products | Delivery | CBOT | CNF China | Duty-paid RMB/MT | DCE Soybean Meal | DCE Soybean Oil | DCE Gross Margin | Var. | SM | SO Spot | SCM |
| USD/MT | Spot | ||||||||||
| Soybean, US Gulf | Nov | 931 | 411 | 4,249 | 2,895 | 6,400 | -746 | -22 | 3,064 | 6,590 | -576 |
| Dec | 931 | 411 | 4,252 | 2,895 | 6,400 | -749 | -22 | 3,064 | 6,590 | -579 | |
| Soybean, US PNW |
Nov | 919.5 | 399 | 4,124 | 2,895 | 6,400 | -621 | -22 | 3,064 | 6,590 | -451 |
| Soybean, Brazil | Nov | 931 | 412 | 3,318 | 2,895 | 6,400 | 249 | -23 | 3,064 | 6,590 | 421 |
| Dec | 931 | 412 | 3,321 | 2,895 | 6,400 | 246 | -24 | 3,064 | 6,590 | 418 | |
| Jan, 2020 | 931 | 411 | 3,309 | 2,895 | 6,400 | 258 | -24 | 3,064 | 6,590 | 430 | |
| Feb, 2020 | 944 | 404 | 3,253 | 2,796 | 6,306 | 217 | -22 | 3,064 | 6,590 | 486 | |
| Mar, 2020 | 944 | 400 | 3,232 | 2,796 | 6,306 | 238 | -22 | 3,064 | 6,590 | 507 | |
| Apr, 2020 | 955.5 | 400 | 3,231 | 2,796 | 6,306 | 239 | -22 | 3,064 | 6,590 | 508 | |
| May, 2020 | 955.5 | 402 | 3,248 | 2,796 | 6,306 | 222 | -22 | 3,064 | 6,590 | 491 | |
| Jun, 2020 | 966 | 406 | 3,279 | 2,847 | 6,230 | 216 | -22 | 3,064 | 6,590 | 460 | |
| Soybean, Argentina | Dec | 931 | 399 | 3,214 | 2,895 | 6,400 | 225 | 5 | 3,064 | 6,590 | 393 |
| May, 2020 | 966 | 392 | 3,173 | 2,796 | 6,306 | 171 | -24 | 3,064 | 6,590 | 434 | |
| Remarks: 1. SM Spot: soybean meal spot price; SO spot: soybean oil spot price, SCM: spot crushing margin. 2. CBOT Price is the closing price last night, and DCE Price is the intraday price at about 11:12 a.m.. 3. DCE crushing margin and spot crushing margin are both gross margins with labour fee. The net margins can be calculated by deducting 150 RMB/tonne, but there may be some difference in cost due to the factory scale. 4. U.S. soybean is posed with an additional tariff of 25% since July 6th, 2018.；U.S. soybean is posed with an additional tariff of 5% since Sept 1th, 2018. |
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