Today is 04/26/2024
| Imported Soybean Crushing Margins - 3/1/2020 | |||||||||||
| 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 | Jan | 956.25 | 420 | 4,324 | 2,777 | 6,872 | -824 | 22 | 2,786 | 7,020 | -789 |
| Feb | 956.25 | 419 | 4,309 | 2,777 | 6,872 | -809 | 30 | 2,786 | 7,020 | -774 | |
| Mar | 956.25 | 420 | 4,322 | 2,777 | 6,872 | -822 | 27 | 2,786 | 7,020 | -787 | |
| Soybean, US PNW |
Jan | 956.25 | 410 | 4,224 | 2,777 | 6,872 | -724 | 22 | 2,786 | 7,020 | -689 |
| Soybean, Brazil | Jan | 956.25 | 413 | 3,309 | 2,777 | 6,872 | 259 | 23 | 2,786 | 7,020 | 296 |
| Feb | 956.25 | 407 | 3,266 | 2,777 | 6,872 | 302 | 28 | 2,786 | 7,020 | 339 | |
| Mar | 956.25 | 404 | 3,242 | 2,777 | 6,872 | 326 | 33 | 2,786 | 7,020 | 363 | |
| Apr | 969.5 | 404 | 3,254 | 2,777 | 6,872 | 314 | 28 | 2,786 | 7,020 | 351 | |
| May | 969.5 | 406 | 3,269 | 2,866 | 6,736 | 342 | 14 | 2,786 | 7,020 | 336 | |
| Jun | 981 | 410 | 3,298 | 2,866 | 6,736 | 313 | 13 | 2,786 | 7,020 | 307 | |
| Soybean, Argentina | Jan | 956.25 | 415 | 3,329 | 2,777 | 6,872 | 102 | 54 | 2,786 | 7,020 | 136 |
| May | 981 | 398 | 3,203 | 2,866 | 6,736 | 274 | 12 | 2,786 | 7,020 | 262 | |
| 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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