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 |
Sep | 973 | 441 | 3474 | 2985 | 6832 | 182 | -46 | 2950 | 7020 | 190 |
Oct | 973 | 442 | 3489 | 2985 | 6832 | 167 | -46 | 2950 | 7020 | 175 | |
Nov | 973 | 442 | 3497 | 2985 | 6832 | 159 | -45 | 2950 | 7020 | 167 | |
Dec | 978.25 | 440 | 3478 | 2985 | 6832 | 178 | -44 | 2950 | 7020 | 186 | |
Jan,2021 | 978.25 | 436 | 3471 | 2849 | 6676 | 48 | -44 | 2950 | 7020 | 193 | |
Soybean, US PNW |
Oct | 973 | 436 | 3447 | 2985 | 6832 | 209 | -45 | 2950 | 7020 | 217 |
Nov | 973 | 436 | 3448 | 2985 | 6832 | 208 | -45 | 2950 | 7020 | 216 | |
Dec | 978.25 | 437 | 3455 | 2985 | 6832 | 201 | -45 | 2950 | 7020 | 209 | |
Soybean, Brazil |
Sep | 973 | 448 | 3526 | 2985 | 6832 | 199 | -46 | 2950 | 7020 | 209 |
Oct | 973 | 448 | 3536 | 2985 | 6832 | 189 | -47 | 2950 | 7020 | 199 | |
Nov | 973 | 449 | 3552 | 2985 | 6832 | 173 | -46 | 2950 | 7020 | 183 | |
Dec | 978.25 | 451 | 3567 | 2985 | 6832 | 158 | -45 | 2950 | 7020 | 168 | |
Jan,2021 | 978.25 | 427 | 3403 | 2849 | 6676 | 49 | -44 | 2950 | 7020 | 191 | |
Feb,2021 | 977 | 422 | 3363 | 2849 | 6676 | 89 | -39 | 2950 | 7020 | 231 | |
Mar,2021 | 977 | 413 | 3292 | 2849 | 6676 | 160 | -40 | 2950 | 7020 | 302 | |
Apr,2021 | 978.25 | 407 | 3248 | 2849 | 6676 | 204 | -38 | 2950 | 7020 | 346 | |
May,2021 | 978.25 | 409 | 3262 | 2849 | 6676 | 190 | -38 | 2950 | 7020 | 332 | |
Jun,2021 | 980.75 | 413 | 3295 | 2849 | 6676 | 157 | -38 | 2950 | 7020 | 299 | |
Soybean, Argentina | Sep | 973 | 433 | 3418 | 2985 | 6832 | 170 | -45 | 2950 | 7020 | 176 |
May,2021 | 980.75 | 402 | 3207 | 2849 | 6676 | 245 | -38 | 2950 | 7020 | 387 | |
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 10:10 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%. |