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 | 893.75 | 398 | 3240 | 2908 | 5722 | 145 | 9 | 2768 | 5750 | 39 |
Aug | 899 | 400 | 3262 | 2908 | 5722 | 123 | -1 | 2768 | 5750 | 17 | |
Sep | 899 | 404 | 3295 | 2959 | 5796 | 144 | -19 | 2768 | 5750 | -16 | |
Oct | 899 | 404 | 3302 | 2959 | 5796 | 137 | -10 | 2768 | 5750 | -23 | |
Nov | 899 | 405 | 3319 | 2959 | 5796 | 120 | -10 | 2768 | 5750 | -40 | |
Dec | 903.5 | 406 | 3326 | 2959 | 5796 | 113 | -22 | 2768 | 5750 | -47 | |
Soybean, US PNW |
Oct | 899 | 399 | 3260 | 2959 | 5796 | 179 | -8 | 2768 | 5750 | 19 |
Nov | 899 | 399 | 3274 | 2959 | 5796 | 165 | -9 | 2768 | 5750 | 5 | |
Dec | 903.5 | 399 | 3273 | 2959 | 5796 | 166 | -15 | 2768 | 5750 | 6 | |
Soybean, Brazil |
Jul | 893.75 | 401 | 3263 | 2908 | 5722 | 179 | 17 | 2768 | 5750 | 74 |
Aug | 891.5 | 401 | 3271 | 2908 | 5722 | 171 | 7 | 2768 | 5750 | 66 | |
Sep | 899 | 406 | 3316 | 2959 | 5796 | 181 | -3 | 2768 | 5750 | 21 | |
Oct | 899 | 409 | 3337 | 2959 | 5796 | 160 | -3 | 2768 | 5750 | 0 | |
Nov | 899 | 411 | 3369 | 2959 | 5796 | 128 | -3 | 2768 | 5750 | -32 | |
Dec | 903.5 | 412 | 3373 | 2959 | 5796 | 124 | -9 | 2768 | 5750 | -36 | |
Jan,2021 | 903.5 | 390 | 3198 | 2759 | 5812 | 144 | 2768 | 5750 | 139 | ||
Feb,2021 | 896 | 381 | 3129 | 2759 | 5812 | 213 | -9 | 2768 | 5750 | 208 | |
Mar,2021 | 896 | 376 | 3087 | 2759 | 5812 | 255 | -8 | 2768 | 5750 | 250 | |
Apr,2021 | 893.75 | 373 | 3066 | 2759 | 5812 | 276 | -7 | 2768 | 5750 | 271 | |
May,2021 | 893.75 | 375 | 3081 | 2759 | 5812 | 261 | -7 | 2768 | 5750 | 256 | |
Soybean, Argentina | Aug | 891.5 | 392 | 3200 | 2908 | 5722 | 127 | -3 | 2768 | 5750 | 22 |
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%. |