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 |
Oct | 1051 | 485 | 3742 | 3264 | 7030 | 172 | 38 | 3053 | 7050 | 9 |
Nov | 1051 | 485 | 3750 | 3264 | 7030 | 164 | 37 | 3053 | 7050 | 1 | |
Dec | 1051.5 | 484 | 3744 | 3264 | 7030 | 170 | 37 | 3053 | 7050 | 7 | |
Jan | 1051.5 | 482 | 3731 | 2996 | 6838 | -65 | -17 | 3053 | 7050 | 20 | |
Soybean, US PNW |
Oct | 1051 | 482 | 3713 | 3264 | 7030 | 201 | 38 | 3053 | 7050 | 38 |
Nov | 1051 | 482 | 3722 | 3264 | 7030 | 192 | 38 | 3053 | 7050 | 29 | |
Dec | 1051.5 | 480 | 3716 | 3264 | 7030 | 198 | 39 | 3053 | 7050 | 35 | |
Jan | 1051.5 | 478 | 3703 | 2996 | 6838 | -37 | 3053 | 7050 | 48 | ||
Soybean, Brazil |
Oct | 1051 | 493 | 3798 | 3264 | 7030 | 187 | 1 | 3053 | 7050 | 24 |
Nov | 1051 | 494 | 3813 | 3264 | 7030 | 172 | 1 | 3053 | 7050 | 9 | |
Dec | 1051.5 | 486 | 3762 | 3264 | 7030 | 223 | 55 | 3053 | 7050 | 60 | |
Jan | 1051.5 | 454 | 3521 | 2996 | 6838 | 213 | 53 | 3053 | 7050 | 301 | |
Feb | 1032.5 | 442 | 3449 | 2996 | 6838 | 285 | 103 | 3053 | 7050 | 373 | |
Mar | 1032.5 | 438 | 3416 | 2996 | 6838 | 318 | 74 | 3053 | 7050 | 406 | |
Apr | 1024.5 | 431 | 3367 | 2996 | 6838 | 367 | 107 | 3053 | 7050 | 455 | |
May | 1024.5 | 432 | 3375 | 2996 | 6838 | 359 | 105 | 3053 | 7050 | 447 | |
Jun | 1025.25 | 433 | 3377 | 2981 | 6732 | 324 | 108 | 3053 | 7050 | 445 | |
Jul | 1025.25 | 435 | 3397 | 2981 | 6732 | 304 | 3053 | 7050 | 425 | ||
Soybean, Argentina | Oct | 1051 | 470 | 3659 | 3264 | 7030 | 185 | 3053 | 7050 | 22 | |
May | 1025.25 | 428 | 3338 | 2996 | 6838 | 260 | 104 | 3053 | 7050 | 343 | |
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%. |