Today is 04/25/2024
| Home > Soybean Crushing Margin Estimates in China -- 3/13/2020

Soybean Crushing Margin Estimates in China -- 3/13/2020

2020-03-13 www.cofeed.com
Theoretical Crushing Margins for Imported U.S. Soybean (RMB/tonne, Mar. shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,260 2,950 3,330 3,857 150 -677 3,807
Qinhuangdao, Hebei 5,200 2,920 3,295 3,857 150 -712 3,822
Costal Shandong 5,190 2,890 3,269 3,857 150 -738 3,824
Jiangsu 5,230 2,830 3,229 3,857 150 -778 3,814
Guangdong 5,300 2,830 3,243 3,857 150 -764 3,797
 
Theoretical Crushing Margins for Imported U.S. PNW Soybean (RMB/tonne, Mar. shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,260 2,950 3,330 3,823 150 -643 3,764
Qinhuangdao, Hebei 5,200 2,920 3,295 3,823 150 -678 3,778
Costal Shandong 5,190 2,890 3,269 3,823 150 -704 3,781
Jiangsu 5,230 2,830 3,229 3,823 150 -744 3,771
Guangdong 5,300 2,830 3,243 3,823 150 -730 3,754
 
Theoretical Crushing Margins for ImportedBrazilianSoybean (RMB/tonne, Mar. shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,260 2,950 3,383 2,997 150 236 2,652
Qinhuangdao, Hebei 5,200 2,920 3,347 2,997 150 200 2,667
Costal Shandong 5,190 2,890 3,321 2,997 150 174 2,670
Jiangsu 5,230 2,830 3,282 2,997 150 135 2,659
Guangdong 5,300 2,830 3,296 2,997 150 149 2,642
 
Theoretical Crushing Margins for ImportedArgentineSoybean (RMB/tonne, May.shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,260 2,950 3,277 2,930 150 197 2,700
Qinhuangdao, Hebei 5,200 2,920 3,243 2,930 150 163 2,714
Costal Shandong 5,190 2,890 3,217 2,930 150 137 2,716
Jiangsu 5,230 2,830 3,177 2,930 150 97 2,707
Guangdong 5,300 2,830 3,190 2,930 150 110 2,691
 
Crushing Margins forPort Distributed Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,260 2,950 3,304 3,500 150 -346 3,388
Qinhuangdao, Hebei 5,200 2,920 3,269 3,500 150 -381 3,403
Costal Shandong 5,190 2,890 3,243 3,500 150 -407 3,405
Jiangsu 5,230 2,830 3,203 3,500 150 -447 3,396
Guangdong 5,300 2,830 3,216 3,500 150 -434 3,379
 
Crushing Margins for Domestic Soybean(RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Heilongjiang 5,410 3,100 3,346 3,500 160 -314 3,493
Dalian, Liaoning 5,260 2,950 3,202 3,620 160 -578 3,673
Qinhuangdao, Hebei 5,200 2,920 3,168 3,640 160 -632 3,710
Boxing, Shandong 5,200 2,900 3,152 3,660 160 -668 3,735
Remarks:
1.Imported Soybean Cost: intraday soybean cost from the United States calculatedwith 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 rate18-20%and meal 79%;
    Domestic soybean: Oil extraction rate16%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 Priceis 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