Today is 11/17/2024
| Imported Soybean Crushing Margins - 21/11/2019 | |||||||||||
| 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 | Dec | 905 | 406 | 4,225 | 2,888 | 6,382 | -731 | 20 | 3,013 | 6,600 | -591 |
| Jan, 2020 | 905 | 406 | 4,234 | 2,888 | 6,382 | -740 | 19 | 3,013 | 6,600 | -600 | |
| Soybean, US PNW |
Dec | 905 | 398 | 4,142 | 2,888 | 6,382 | -648 | 18 | 3,013 | 6,600 | -508 |
| Soybean, Brazil | Dec | 905 | 407 | 3,296 | 2,888 | 6,382 | 262 | 14 | 3,013 | 6,600 | 404 |
| Jan, 2020 | 905 | 405 | 3,288 | 2,888 | 6,382 | 270 | 14 | 3,013 | 6,600 | 412 | |
| Feb, 2020 | 919 | 393 | 3,198 | 2,767 | 6,396 | 267 | 7 | 3,013 | 6,600 | 502 | |
| Mar, 2020 | 919 | 390 | 3,172 | 2,767 | 6,396 | 293 | 7 | 3,013 | 6,600 | 528 | |
| Apr, 2020 | 932 | 390 | 3,182 | 2,767 | 6,396 | 283 | 3 | 3,013 | 6,600 | 518 | |
| May, 2020 | 932 | 393 | 3,203 | 2,767 | 6,396 | 262 | 3 | 3,013 | 6,600 | 497 | |
| Jun, 2020 | 943.75 | 396 | 3,231 | 2,829 | 6,314 | 267 | 1 | 3,013 | 6,600 | 469 | |
| Soybean, Argentina | Dec | 905 | 397 | 3,220 | 2,888 | 6,382 | 210 | 14 | 3,013 | 6,600 | 348 |
| May, 2020 | 943.75 | 383 | 3,128 | 2,767 | 6,396 | 209 | 1 | 3,013 | 6,600 | 440 | |
| 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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