Today is 05/23/2025
| 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 | 1056.25 | 489 | 3775 | 3240 | 7124 | 138 | -16 | 3213 | 7478 | 184 |
| Nov | 1056.25 | 489 | 3783 | 3240 | 7124 | 130 | -15 | 3213 | 7478 | 176 | |
| Dec | 1057.25 | 488 | 3780 | 3240 | 7124 | 133 | -15 | 3213 | 7478 | 179 | |
| Jan | 1057.25 | 486 | 3766 | 3051 | 6910 | -43 | -8 | 3213 | 7478 | 193 | |
| Soybean, US PNW |
Oct | 1056.25 | 485 | 3745 | 3240 | 7124 | 168 | -14 | 3213 | 7478 | 214 |
| Nov | 1056.25 | 485 | 3755 | 3240 | 7124 | 158 | -15 | 3213 | 7478 | 204 | |
| Dec | 1057.25 | 484 | 3751 | 3240 | 7124 | 162 | -15 | 3213 | 7478 | 208 | |
| Jan | 1057.25 | 482 | 3738 | 3051 | 6910 | -15 | -8 | 3213 | 7478 | 221 | |
| Soybean, Brazil |
Oct | 1056.25 | 500 | 3857 | 3240 | 7124 | 127 | -16 | 3213 | 7478 | 177 |
| Nov | 1056.25 | 501 | 3870 | 3240 | 7124 | 114 | -16 | 3213 | 7478 | 164 | |
| Dec | 1057.25 | 500 | 3876 | 3240 | 7124 | 108 | -9 | 3213 | 7478 | 158 | |
| Jan | 1057.25 | 468 | 3629 | 3051 | 6910 | 163 | -4 | 3213 | 7478 | 405 | |
| Feb | 1042.5 | 453 | 3535 | 3051 | 6910 | 257 | 10 | 3213 | 7478 | 499 | |
| Mar | 1042.5 | 447 | 3493 | 3051 | 6910 | 299 | 10 | 3213 | 7478 | 541 | |
| Apr | 1039.5 | 441 | 3442 | 3051 | 6910 | 350 | 10 | 3213 | 7478 | 592 | |
| May | 1039.5 | 442 | 3456 | 3051 | 6910 | 336 | -12 | 3213 | 7478 | 578 | |
| Jun | 1042 | 444 | 3471 | 3021 | 6774 | 270 | -10 | 3213 | 7478 | 563 | |
| Jul | 1042 | 447 | 3491 | 3021 | 6774 | 250 | -16 | 3213 | 7478 | 543 | |
| Soybean, Argentina | Oct | 1056.25 | 483 | 3734 | 3240 | 7124 | 108 | -43 | 3213 | 7478 | 150 |
| May | 1042 | 440 | 3437 | 3051 | 6910 | 217 | 2 | 3213 | 7478 | 447 | |
| 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%. | |||||||||||
