Today is 04/27/2024
| Home > Soybean Crushing Margin Estimates in China- 10/1/2020

Soybean Crushing Margin Estimates in China- 10/1/2020

2020-01-10 www.cofeed.com
Theoretical Crushing Margins for Imported U.S. Soybean (RMB/tonne, Jan shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 7,060  2,820  3,569  4,245  150 -826 3,865 
Qinhuangdao, Hebei 7,080  2,780  3,541  4,245  150 -854 3,861 
Costal Shandong 7,140  2,760  3,537  4,245  150 -858 3,846 
Jiangsu 7,280  2,660  3,485  4,245  150 -910 3,812 
Guangdong 7,380  2,620  3,472  4,245  150 -923 3,788 
 
Theoretical Crushing Margins for Imported U.S. PNW Soybean (RMB/tonne, Jan. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 7,060  2,820  3,569  4,140  150 -721 3,732 
Qinhuangdao, Hebei 7,080  2,780  3,541  4,140  150 -749 3,728 
Costal Shandong 7,140  2,760  3,537  4,140  150 -753 3,713 
Jiangsu 7,280  2,660  3,485  4,140  150 -805 3,679 
Guangdong 7,380  2,620  3,472  4,140  150 -818 3,655 
 
Theoretical Crushing Margins for Imported Brazilian Soybean (RMB/tonne, Jan. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 7,060  2,820  3,640  3,262  150  228  2,532 
Qinhuangdao, Hebei 7,080  2,780  3,612  3,262  150  200  2,527 
Costal Shandong 7,140  2,760  3,608  3,262  150  196  2,511 
Jiangsu 7,280  2,660  3,557  3,262  150  145  2,476 
Guangdong 7,380  2,620  3,546  3,262  150  134  2,451 
 
Theoretical Crushing Margins for Imported Argentine Soybean (RMB/tonne, Jan. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 7,060  2,820  3,499  3,298  150  51  2,756 
Qinhuangdao, Hebei 7,080  2,780  3,471  3,298  150  23  2,751 
Costal Shandong 7,140  2,760  3,466  3,298  150  18  2,738 
Jiangsu 7,280  2,660  3,412  3,298  150  -36  2,706 
Guangdong 7,380  2,620  3,398  3,298  150  -50  2,683 
 
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 7,060  2,820  3,534  3,500  150  -116  2,967 
Qinhuangdao, Hebei 7,080  2,780  3,506  3,500  150  -144  2,962 
Costal Shandong 7,140  2,760  3,501  3,500  150  -149  2,948 
Jiangsu 7,280  2,660  3,448  3,500  150  -202  2,915 
Guangdong 7,380  2,620  3,435  3,500  150  -215  2,892 
 
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 7,210  2,970  3,530  3,500  160  -130  3,133 
Dalian, Liaoning 7,060  2,820  3,386  3,620  160  -394  3,313 
Qinhuangdao, Hebei 7,080  2,780  3,357  3,640  160  -443  3,334 
Boxing, Shandong 7,200  2,750  3,352  3,660  160  -468  3,335 
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