Imported Soybean Crushing Margins - 11/20/2019 | |||||||||||
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 | Dec | 911.5 | 409 | 4,244 | 2,888 | 6,376 | -751 | -26 | 6,510 | 3,020 | 1473 |
Jan, 2020 | 911.5 | 409 | 4,252 | 2,888 | 6,376 | -759 | -25 | 6,510 | 3,020 | 1465 | |
Soybean, US PNW |
Dec | 911.5 | 400 | 4,159 | 2,888 | 6,376 | -666 | -31 | 6,510 | 3,020 | 1558 |
Soybean, Brazil | Dec | 911.5 | 409 | 3,309 | 2,888 | 6,376 | 248 | -9 | 6,510 | 3,020 | 2438 |
Jan, 2020 | 911.5 | 407 | 3,301 | 2,888 | 6,376 | 256 | -9 | 6,510 | 3,020 | 2446 | |
Feb, 2020 | 924.5 | 395 | 3,207 | 2,771 | 6,388 | 260 | 11 | 6,510 | 3,020 | 2540 | |
Mar, 2020 | 924.5 | 392 | 3,181 | 2,771 | 6,388 | 286 | 14 | 6,510 | 3,020 | 2566 | |
Apr, 2020 | 936.75 | 392 | 3,187 | 2,771 | 6,388 | 280 | 24 | 6,510 | 3,020 | 2560 | |
May, 2020 | 936.75 | 395 | 3,208 | 2,771 | 6,388 | 259 | 17 | 6,510 | 3,020 | 2539 | |
Jun, 2020 | 947.75 | 398 | 3,234 | 2,835 | 6,302 | 266 | -2 | 6,510 | 3,020 | 2513 | |
Soybean, Argentina | Dec | 911.5 | 400 | 3,233 | 2,888 | 6,376 | 196 | -41 | 6,510 | 3,020 | 2454 |
May, 2020 | 947.75 | 385 | 3,131 | 2,771 | 6,388 | 208 | 6 | 6,510 | 3,020 | 2556 | |
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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