Today is 03/29/2024

Imported Soybean Crushing Margins - 26/11/2019

2019-11-26 www.cofeed.com
Imported Soybean Crushing Margins - 26/11/2019
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 892.5 401 4,161 2,887 6,270 -689 6 2,993 6,570 -548
Jan, 2020 892.5 401 4,166 2,887 6,270 -694 6 2,993 6,570 -553
Soybean,
US PNW
Dec 892.5 393 4,090 2,887 6,270 -618 6 2,993 6,570 -477
Soybean, Brazil Dec 892.5 404 3,269 2,887 6,270 266 -13 2,993 6,570 409
Jan, 2020 892.5 402 3,258 2,887 6,270 277 -16 2,993 6,570 420
Feb, 2020 907 393 3,187 2,767 6,280 255 -22 2,993 6,570 491
Mar, 2020 907 388 3,149 2,767 6,280 293 -13 2,993 6,570 529
Apr, 2020 921 389 3,162 2,767 6,280 280 -7 2,993 6,570 516
May, 2020 921 390 3,174 2,767 6,280 268 -10 2,993 6,570 504
Jun, 2020 933.25 396 3,216 2,822 6,250 263 -19 2,993 6,570 462
Soybean, Argentina Dec 892.5 393 3,179 2,887 6,270 230 4 2,993 6,570 368
May, 2020 933.25 380 3,095 2,767 6,280 221 -2 2,993 6,570 452
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.