Today is 11/26/2025
| 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 | 1062.25 | 491 | 3794 | 3258 | 6988 | 108 | -30 | 3222 | 7430 | 163 |
| Nov | 1062.25 | 491 | 3802 | 3258 | 6988 | 100 | -30 | 3222 | 7430 | 155 | |
| Dec | 1062 | 489 | 3796 | 3258 | 6988 | 106 | -27 | 3222 | 7430 | 161 | |
| Jan | 1062 | 488 | 3782 | 3070 | 6796 | -65 | -22 | 3222 | 7430 | 175 | |
| Soybean, US PNW |
Oct | 1062.25 | 487 | 3764 | 3258 | 6988 | 138 | -30 | 3222 | 7430 | 193 |
| Nov | 1062.25 | 488 | 3774 | 3258 | 6988 | 128 | -30 | 3222 | 7430 | 183 | |
| Dec | 1062 | 486 | 3767 | 3258 | 6988 | 135 | -27 | 3222 | 7430 | 190 | |
| Jan | 1062 | 484 | 3754 | 3070 | 6796 | -37 | -22 | 3222 | 7430 | 203 | |
| Soybean, Brazil |
Oct | 1062.25 | 502 | 3877 | 3258 | 6988 | 94 | -33 | 3222 | 7430 | 154 |
| Nov | 1062.25 | 503 | 3889 | 3258 | 6988 | 82 | -32 | 3222 | 7430 | 142 | |
| Dec | 1062 | 502 | 3892 | 3258 | 6988 | 79 | -29 | 3222 | 7430 | 139 | |
| Jan | 1062 | 470 | 3645 | 3070 | 6796 | 140 | -23 | 3222 | 7430 | 386 | |
| Feb | 1045.5 | 454 | 3546 | 3070 | 6796 | 239 | -18 | 3222 | 7430 | 485 | |
| Mar | 1045.5 | 448 | 3504 | 3070 | 6796 | 281 | -18 | 3222 | 7430 | 527 | |
| Apr | 1039.25 | 440 | 3444 | 3070 | 6796 | 341 | -9 | 3222 | 7430 | 587 | |
| May | 1039.25 | 442 | 3458 | 3070 | 6796 | 327 | -9 | 3222 | 7430 | 573 | |
| Jun | 1041 | 444 | 3471 | 3045 | 6646 | 264 | -6 | 3222 | 7430 | 560 | |
| Jul | 1041 | 447 | 3491 | 3045 | 6646 | 244 | -6 | 3222 | 7430 | 540 | |
| Soybean, Argentina | Oct | 1062.25 | 486 | 3759 | 3258 | 6988 | 73 | -35 | 3222 | 7430 | 124 |
| May | 1041 | 440 | 3437 | 3070 | 6796 | 212 | -5 | 3222 | 7430 | 446 | |
| 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%. | |||||||||||
