Today is 03/29/2024

Imported Soybean Crushing Margins - 19/12/2019

2019-12-19 www.cofeed.com
Imported Soybean Crushing Margins - 19/12/2019
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 928.5 413 4,268 2,743 6,610 -845 -48 2,834 6,800 -737
Jan, 2020 928.5 413 4,267 2,743 6,610 -844 -45 2,834 6,800 -736
Feb, 2020 940.5 413 4,271 2,748 6,590 -848 -46 2,834 6,800 -740
Soybean,
US PNW
Dec 928.5 404 4,176 2,743 6,610 -753 -60 2,834 6,800 -645
Soybean, Brazil Dec 928.5 411 3,311 2,743 6,610 178 31 2,834 6,800 288
Jan, 2020 928.5 411 3,313 2,743 6,610 176 4 2,834 6,800 286
Feb, 2020 940.5 401 3,235 2,748 6,590 254 8 2,834 6,800 364
Mar, 2020 940.5 397 3,206 2,748 6,590 283 5 2,834 6,800 393
Apr, 2020 954 399 3,229 2,748 6,590 260 12 2,834 6,800 370
May, 2020 954 402 3,249 2,748 6,590 240 -2 2,834 6,800 350
Jun, 2020 965.5 405 3,272 2,816 6,500 253 2 2,834 6,800 327
Soybean, Argentina Dec 928.5 412 3,317 2,743 6,610 40 -19 2,834 6,800 146
May, 2020 965.5 392 3,174 2,748 6,590 183 -1 2,834 6,800 289
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.