Today is 12/25/2024

Crush Margins for Imported Soybeans in China--5/26/2020

2020-05-26 www.cofeed.com
Product Delivery CBOT CNF China Duty-paid DCE SBM DCE SBO DCE
Gross Margin
Var. SBM Spot SBO Spot SCM
USD/tonne CNY/tonne
Soybean,
US Gulf
Jul 833.25 361 2980 2787 5472 261 -1 2709 5490 203
Aug 833.25 363 3000 2787 5472 241 -8 2709 5490 183
Sep 833.25 368 3039 2858 5562 276 -26 2709 5490 144
Oct 844.5 376 3113 2858 5562 202 -12 2709 5490 70
Soybean,
PNW
Oct 844.5 371 3071 2858 5562 244 3 2709 5490 112
Soybean,
Brazil
Jul 833.25 361 2979 2787 5472 317 35 2709 5490 259
Aug 836.5 368 3037 2787 5472 259 20 2709 5490 201
Sep 844.5 376 3100 2858 5562 270 3 2709 5490 138
Feb,2021 844.75 356 2956 2678 5634 286 8 2709 5490 282
Mar,2021 844.75 352 2920 2678 5634 322 17 2709 5490 318
Apr,2021 844.75 351 2916 2678 5634 326 17 2709 5490 322
May,2021 844.75 353 2926 2678 5634 316 17 2709 5490 312
Soybean,
Argentina
Jun 833.25 354 2915 2787 5472 272 15 2709 5490 213
Remarks:
1. DCE: Dalian Commodity Exchange; SBM Spot: soybean meal spot price yesterday; SBO spot: soybean oil spot price yesterday; SCM: spot crushing margin.
2. CBOT is the closing price in previous session, and DCE is the intraday price at about 9:53 a.m.on the Dalian Commodity Exchange.
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. Starting from March 2, 2020, China officially accepts the application for the exemption of additional tariffs on US soybeans, so the import duty is 3%.