Imported Soybean Crushing Margins - 11/12/2019 | |||||||||||
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 | 917 | 406 | 4,205 | 2,860 | 6,452 | -720 | 26 | 3,029 | 6,700 | -539 |
Dec | 917 | 407 | 4,216 | 2,860 | 6,452 | -731 | 18 | 3,029 | 6,700 | -550 | |
Soybean, US PNW |
Nov | 905 | 397 | 4,112 | 2,860 | 6,452 | -627 | -6 | 3,029 | 6,700 | -446 |
Soybean, Brazil | Nov | 917 | 408 | 3,286 | 2,860 | 6,452 | 264 | 15 | 3,029 | 6,700 | 447 |
Dec | 917 | 408 | 3,286 | 2,860 | 6,452 | 264 | 18 | 3,029 | 6,700 | 447 | |
Jan, 2020 | 917 | 407 | 3,283 | 2,860 | 6,452 | 267 | 9 | 3,029 | 6,700 | 450 | |
Feb, 2020 | 930.5 | 395 | 3,192 | 2,764 | 6,370 | 266 | 49 | 3,029 | 6,700 | 541 | |
Mar, 2020 | 930.5 | 392 | 3,171 | 2,764 | 6,370 | 287 | 49 | 3,029 | 6,700 | 562 | |
Apr, 2020 | 942.75 | 392 | 3,174 | 2,764 | 6,370 | 284 | 45 | 3,029 | 6,700 | 559 | |
May, 2020 | 942.75 | 394 | 3,192 | 2,764 | 6,370 | 266 | 44 | 3,029 | 6,700 | 541 | |
Jun, 2020 | 953.5 | 398 | 3,223 | 2,821 | 6,276 | 261 | 45 | 3,029 | 6,700 | 510 | |
Soybean, Argentina | Dec | 917 | 393 | 3,170 | 2,860 | 6,452 | 251 | 26 | 3,029 | 6,700 | 429 |
May, 2020 | 953.5 | 387 | 3,135 | 2,764 | 6,370 | 195 | 24 | 3,029 | 6,700 | 464 | |
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. |
|||||||||||