Today is 03/29/2024

Imported Soybean Crushing Margins - 4/2/2020

2020-02-04 www.cofeed.com
Imported Soybean Crushing Margins - 4/2/2020
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 Feb 877 389 4,027 2,632 6,034 -801 27 2,674 6,460 -687
Mar 877 389 4,027 2,632 6,034 -801 28 2,674 6,460 -687
Soybean,
US PNW
Feb 877 377 3,909 2,632 6,034 -683 26 2,674 6,460 -569
Soybean, Brazil Feb 877 378 3,046 2,632 6,034 240 30 2,674 6,460 358
Mar 877 375 3,033 2,632 6,034 253 30 2,674 6,460 371
Apr 890.75 377 3,047 2,632 6,034 239 31 2,674 6,460 357
May 890.75 379 3,064 2,730 6,026 298 39 2,674 6,460 340
Jun 904.5 384 3,109 2,730 6,026 253 38 2,674 6,460 295
Soybean, Argentina May 904.5 369 2,986 2,730 6,026 255 38 2,674 6,460 289
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.