Today is 12/28/2024
| Home > Soybean Crushing Margin Estimates in China -- 4/9/2020

Soybean Crushing Margin Estimates in China -- 4/9/2020

2020-04-09 www.cofeed.com
Theoretical Crushing Margins for Imported U.S. Soybean (RMB/tonne, May. shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,750 3,230 3,644 3,080 150 414 2,706
Qinhuangdao, Hebei 5,800 3,220 3,646 3,080 150 416 2,694
Costal Shandong 5,810 3,250 3,671 3,080 150 441 2,691
Jiangsu 5,820 3,230 3,658 3,080 150 428 2,689
Guangdong 5,850 3,080 3,545 3,080 150 315 2,682
 
Theoretical Crushing Margins for Imported U.S. PNW Soybean (RMB/tonne, May.  shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,750 3,230 3,644 3,026 150 468 2,637
Qinhuangdao, Hebei 5,800 3,220 3,646 3,026 150 470 2,625
Costal Shandong 5,810 3,250 3,671 3,026 150 495 2,623
Jiangsu 5,820 3,230 3,658 3,026 150 482 2,621
Guangdong 5,850 3,080 3,545 3,026 150 369 2,613
 
Theoretical Crushing Margins for ImportedBrazilianSoybean (RMB/tonne, Apr. shipment)
Region Income Expenditure Margin Soybean Break-even Price
SB Oil SB Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 5,750 3,230 3,702 2,969 150 583 2,492
Qinhuangdao, Hebei 5,800 3,220 3,704 2,969 150 585 2,480
Costal Shandong 5,810 3,250 3,730 2,969 150 611 2,477
Jiangsu 5,820 3,230 3,716 2,969 150 597 2,475
Guangdong 5,850 3,080 3,603 2,969 150 484 2,467
 
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 5,750 3,230 3,587 2,985 150 452 2,658
Qinhuangdao, Hebei 5,800 3,220 3,588 2,985 150 453 2,647
Costal Shandong 5,810 3,250 3,613 2,985 150 478 2,645
Jiangsu 5,820 3,230 3,599 2,985 150 464 2,642
Guangdong 5,850 3,080 3,486 2,985 150 351 2,635
 
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 5,750 3,230 3,615 3,630 150 -165 3,438
Qinhuangdao, Hebei 5,800 3,220 3,617 3,630 150 -163 3,427
Costal Shandong 5,810 3,250 3,642 3,630 150 -138 3,424
Jiangsu 5,820 3,230 3,628 3,630 150 -152 3,422
Guangdong 5,850 3,080 3,515 3,630 150 -265 3,415
 
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 5,900 3,380 3,648 3,700 160 -212 3,645
Dalian, Liaoning 5,750 3,230 3,504 3,820 160 -476 3,825
Qinhuangdao, Hebei 5,800 3,220 3,504 3,840 160 -496 3,840
Boxing, Shandong 5,900 3,200 3,504 3,860 160 -516 3,845
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