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 | 895 | 399 | 3209 | 2915 | 6236 | 279 | 42 | 2879 | 6250 | 253 |
Aug | 895 | 403 | 3244 | 2915 | 6236 | 244 | 42 | 2879 | 6250 | 218 | |
Sep | 895 | 404 | 3257 | 2924 | 6196 | 230 | 36 | 2879 | 6250 | 205 | |
Oct | 895 | 405 | 3272 | 2924 | 6196 | 215 | 36 | 2879 | 6250 | 190 | |
Nov | 895 | 405 | 3267 | 2924 | 6196 | 220 | 36 | 2879 | 6250 | 195 | |
Dec | 899.25 | 408 | 3308 | 2924 | 6196 | 179 | 34 | 2879 | 6250 | 154 | |
Soybean, US PNW |
Oct | 895 | 399 | 3220 | 2924 | 6196 | 267 | 50 | 2879 | 6250 | 242 |
Nov | 895 | 399 | 3220 | 2924 | 6196 | 267 | 50 | 2879 | 6250 | 242 | |
Dec | 899.25 | 398 | 3234 | 2924 | 6196 | 253 | 49 | 2879 | 6250 | 228 | |
Soybean, Brazil |
Aug | 895 | 402 | 3235 | 2915 | 6236 | 315 | 47 | 2879 | 6250 | 289 |
Sep | 895 | 405 | 3263 | 2924 | 6196 | 286 | 61 | 2879 | 6250 | 261 | |
Oct | 895 | 408 | 3290 | 2924 | 6196 | 259 | 61 | 2879 | 6250 | 234 | |
Nov | 895 | 409 | 3300 | 2924 | 6196 | 249 | 59 | 2879 | 6250 | 224 | |
Dec | 899.25 | 409 | 3320 | 2924 | 6196 | 229 | 58 | 2879 | 6250 | 204 | |
Jan,2021 | 899.25 | 389 | 3156 | 2715 | 6146 | 218 | 27 | 2879 | 6250 | 368 | |
Feb,2021 | 896 | 381 | 3097 | 2715 | 6146 | 277 | 41 | 2879 | 6250 | 427 | |
Mar,2021 | 896 | 375 | 3051 | 2715 | 6146 | 323 | 29 | 2879 | 6250 | 473 | |
Apr,2021 | 894.75 | 374 | 3039 | 2715 | 6146 | 335 | 24 | 2879 | 6250 | 485 | |
May,2021 | 894.75 | 376 | 3054 | 2715 | 6146 | 320 | 27 | 2879 | 6250 | 470 | |
Soybean, Argentina | Aug | 895 | 395 | 3182 | 2915 | 6236 | 243 | 48 | 2879 | 6250 | 217 |
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%. |