Today is 12/25/2024

Crush Margins for Imported Soybeans in China--5/29/2020

2020-05-29 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 847 368 3050 2804 5616 232 -2 2723 5600 165
Aug 847 371 3078 2804 5616 204 4 2723 5600 137
Sep 847 375 3115 2867 5680 229 11 2723 5600 100
Oct 856 381 3173 2867 5680 171 5 2723 5600 42
Soybean,
PNW
Oct 856 375 3121 2867 5680 223 5 2723 5600 94
Soybean,
Brazil
Jul 847 375 3104 2804 5616 234 7 2723 5600 167
Aug 849.25 379 3142 2804 5616 196 5 2723 5600 129
Sep 856 384 3183 2867 5680 218 5 2723 5600 88
Feb,2021 855.5 361 3010 2695 5712 261 3 2723 5600 261
Mar,2021 855.5 357 2974 2695 5712 297 3 2723 5600 297
Apr,2021 855 355 2961 2695 5712 310 10 2723 5600 310
May,2021 855 356 2968 2695 5712 303 7 2723 5600 303
Soybean,
Argentina
Jun 847 363 3006 2804 5616 220 7 2723 5600 153
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%.