Today is 04/27/2024
| Home > Soybean Crushing Margin Estimates in China- 17/12/2019

Soybean Crushing Margin Estimates in China- 17/12/2019

2019-12-17 www.cofeed.com
Theoretical Crushing Margins for Imported U.S. Soybean (RMB/tonne, Dec shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,770  2,970  3,633  4,211  150 -728 3,892 
Qinhuangdao, Hebei 6,650  2,900  3,555  4,211  150 -807 3,921 
Costal Shandong 6,800  2,940  3,615  4,211  150 -746 3,885 
Jiangsu 6,850  2,830  3,537  4,211  150 -824 3,873 
Guangdong 6,830  2,750  3,470  4,211  150 -891 3,878 
 
Theoretical Crushing Margins for Imported U.S. PNW Soybean (RMB/tonne,Dec. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,770  2,970  3,633  4,108  150 -625 3,762 
Qinhuangdao, Hebei 6,650  2,900  3,555  4,108  150 -704 3,791 
Costal Shandong 6,800  2,940  3,615  4,108  150 -643 3,754 
Jiangsu 6,850  2,830  3,537  4,108  150 -721 3,742 
Guangdong 6,830  2,750  3,470  4,108  150 -788 3,747 
 
Theoretical Crushing Margins for Imported Brazilian Soybean (RMB/tonne, Dec. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,770  2,970  3,700  3,338  150  212  2,701 
Qinhuangdao, Hebei 6,650  2,900  3,621  3,338  150  133  2,732 
Costal Shandong 6,800  2,940  3,683  3,338  150  195  2,694 
Jiangsu 6,850  2,830  3,606  3,338  150  118  2,681 
Guangdong 6,830  2,750  3,539  3,338  150  51  2,686 
 
Theoretical Crushing Margins for Imported Argentine Soybean (RMB/tonne, Dec. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,770  2,970  3,565  3,295  150  120  2,818 
Qinhuangdao, Hebei 6,650  2,900  3,488  3,295  150  43  2,846 
Costal Shandong 6,800  2,940  3,547  3,295  150  102  2,811 
Jiangsu 6,850  2,830  3,469  3,295  150  24  2,800 
Guangdong 6,830  2,750  3,402  3,295  150  -43  2,805 
 
Crushing Margins for Port Distributed Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,770  2,970  3,599  3,500  150  -51  3,035 
Qinhuangdao, Hebei 6,650  2,900  3,521  3,500  150  -129  3,063 
Costal Shandong 6,800  2,940  3,581  3,500  150  -69  3,028 
Jiangsu 6,850  2,830  3,503  3,500  150  -147  3,016 
Guangdong 6,830  2,750  3,436  3,500  150  -214  3,021 
 
Crushing Margins for Domestic Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Heilongjiang 6,920  3,120  3,603  3,440  160  3  3,116 
Dalian, Liaoning 6,770  2,970  3,459  3,560  160  -261  3,296 
Qinhuangdao, Hebei 6,650  2,900  3,384  3,580  160  -356  3,345 
Boxing, Shandong 6,820  2,930  3,435  3,600  160  -325  3,336 
Remarks:
1. Imported Soybean Cost: intraday soybean cost from the United States calculated  with the CBOT price; Port distributed soybean: subject to prices at Shandong ports; Domestic soybean cost: purchasing price in Heilongjiang+ freight to factory.
2. Imported soybean: Oil extraction rate 18-20% and meal 79%;
   Domestic soybean: Oil extraction rate 16% and meal 80%.
3. Estimated margins and actual profit in mills may have some differences as mills usually use their inventories or have already locked the cost previously, which may be different from intraday soybean cost on the basis of the CBOT price.
4. Soybean Break-even Price is calculated with intraday soybean cost and soybean oil price, and when the crush margins is ZERO, then it is soybean break-even price.

Print Close