Today is 04/24/2024
| 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 | Dec | 901.25 | 401 | 4,171 | 2,816 | 6,382 | -734 | 11 | 2,914 | 6,590 | -617 |
| Jan, 2020 | 901.25 | 402 | 4,183 | 2,816 | 6,382 | -746 | 3 | 2,914 | 6,590 | -629 | |
| Feb, 2020 | 915.5 | 404 | 4,205 | 2,793 | 6,350 | -792 | 7 | 2,914 | 6,590 | -651 | |
| Soybean, US PNW |
Dec | 901.25 | 396 | 4,116 | 2,816 | 6,382 | -679 | 3 | 2,914 | 6,590 | -562 |
| Soybean, Brazil | Dec | 901.25 | 411 | 3,330 | 2,816 | 6,382 | 171 | -8 | 2,914 | 6,590 | 290 |
| Jan, 2020 | 901.25 | 405 | 3,284 | 2,816 | 6,382 | 217 | -8 | 2,914 | 6,590 | 336 | |
| Feb, 2020 | 915.5 | 395 | 3,205 | 2,793 | 6,350 | 271 | 6 | 2,914 | 6,590 | 415 | |
| Mar, 2020 | 915.5 | 392 | 3,190 | 2,793 | 6,350 | 286 | -8 | 2,914 | 6,590 | 430 | |
| Apr, 2020 | 929 | 393 | 3,200 | 2,793 | 6,350 | 276 | 2 | 2,914 | 6,590 | 420 | |
| May, 2020 | 929 | 395 | 3,215 | 2,793 | 6,350 | 261 | 1 | 2,914 | 6,590 | 405 | |
| Jun, 2020 | 942 | 400 | 3,253 | 2,861 | 6,302 | 268 | 6 | 2,914 | 6,590 | 367 | |
| Soybean, Argentina | Dec | 901.25 | 396 | 3,208 | 2,816 | 6,382 | 165 | -4 | 2,914 | 6,590 | 280 |
| May, 2020 | 942 | 385 | 3,134 | 2,793 | 6,350 | 215 | 2 | 2,914 | 6,590 | 354 | |
| 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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