Today is 04/20/2024
| Imported Soybean Crushing Margins - 12/12/2019 | |||||||||||
| 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 | 893.5 | 398 | 4,138 | 2,792 | 6,376 | -721 | 13 | 2,916 | 6,560 | -588 |
| Jan, 2020 | 893.5 | 399 | 4,146 | 2,792 | 6,376 | -729 | 17 | 2,916 | 6,560 | -596 | |
| Feb, 2020 | 908 | 401 | 4,166 | 2,770 | 6,348 | -772 | 20 | 2,916 | 6,560 | -616 | |
| Soybean, US PNW |
Dec | 893.5 | 388 | 4,038 | 2,792 | 6,376 | -621 | 58 | 2,916 | 6,560 | -488 |
| Soybean, Brazil | Dec | 893.5 | 406 | 3,284 | 2,792 | 6,376 | 197 | 26 | 2,916 | 6,560 | 332 |
| Jan, 2020 | 893.5 | 404 | 3,273 | 2,792 | 6,376 | 208 | -9 | 2,916 | 6,560 | 343 | |
| Feb, 2020 | 908 | 392 | 3,183 | 2,770 | 6,348 | 275 | 4 | 2,916 | 6,560 | 433 | |
| Mar, 2020 | 908 | 388 | 3,157 | 2,770 | 6,348 | 301 | 15 | 2,916 | 6,560 | 459 | |
| Apr, 2020 | 921.75 | 390 | 3,171 | 2,770 | 6,348 | 287 | 11 | 2,916 | 6,560 | 445 | |
| May, 2020 | 921.75 | 392 | 3,185 | 2,770 | 6,348 | 273 | 12 | 2,916 | 6,560 | 431 | |
| Jun, 2020 | 935 | 395 | 3,209 | 2,834 | 6,280 | 286 | 18 | 2,916 | 6,560 | 407 | |
| Soybean, Argentina | Dec | 893.5 | 400 | 3,241 | 2,792 | 6,376 | 112 | -53 | 2,916 | 6,560 | 243 |
| May, 2020 | 935 | 381 | 3,102 | 2,770 | 6,348 | 229 | 14 | 2,916 | 6,560 | 382 | |
| 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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