Today is 04/17/2024
| Home > Soybean Crushing Margin Estimates in China- 11/11/2019

Soybean Crushing Margin Estimates in China- 11/11/2019

2019-11-11 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 6,630  3,100  3,709  4,249  150 -690 3,974 
Qinhuangdao, Hebei 6,600  3,120  3,719  4,249  150 -680 3,981 
Costal Shandong 6,660  3,090  3,707  4,249  150 -693 3,967 
Jiangsu 6,630  2,960  3,598  4,249  150 -801 3,974 
Guangdong 6,700  2,930  3,588  4,249  150 -811 3,957 
 
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 6,630  3,100  3,709  4,124  150 -565 3,816 
Qinhuangdao, Hebei 6,600  3,120  3,719  4,124  150 -555 3,823 
Costal Shandong 6,660  3,090  3,707  4,124  150 -568 3,808 
Jiangsu 6,630  2,960  3,598  4,124  150 -676 3,816 
Guangdong 6,700  2,930  3,588  4,124  150 -686 3,799 
 
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 6,630  3,100  3,775  3,318  150  307  2,711 
Qinhuangdao, Hebei 6,600  3,120  3,785  3,318  150  317  2,719 
Costal Shandong 6,660  3,090  3,773  3,318  150  305  2,704 
Jiangsu 6,630  2,960  3,664  3,318  150  196  2,711 
Guangdong 6,700  2,930  3,655  3,318  150  187  2,694 
 
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 6,630  3,100  3,642  3,214  150  278  2,748 
Qinhuangdao, Hebei 6,600  3,120  3,653  3,214  150  289  2,754 
Costal Shandong 6,660  3,090  3,640  3,214  150  276  2,741 
Jiangsu 6,630  2,960  3,532  3,214  150  168  2,748 
Guangdong 6,700  2,930  3,521  3,214  150  157  2,732 
 
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 6,630  3,100  3,676  3,470  150  56  3,030 
Qinhuangdao, Hebei 6,600  3,120  3,686  3,470  150  66  3,037 
Costal Shandong 6,660  3,090  3,673  3,470  150  53  3,023 
Jiangsu 6,630  2,960  3,565  3,470  150  -55  3,030 
Guangdong 6,700  2,930  3,554  3,470  150  -66  3,013 
 
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 6,780  3,250  3,685  3,430  160  95  3,132 
Dalian, Liaoning 6,630  3,100  3,541  3,550  160  -169  3,312 
Qinhuangdao, Hebei 6,600  3,120  3,552  3,570  160  -178  3,343 
Boxing, Shandong 6,700  3,100  3,552  3,590  160  -198  3,348 
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