Today is 04/21/2025
| 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 |
Nov | 1153.5 | 513 | 3873 | 3116 | 7770 | 65 | -28 | 3142 | 8040 | 137 |
| Dec | 1153.5 | 513 | 3881 | 3116 | 7770 | 57 | -9 | 3142 | 8040 | 129 | |
| Jan | 1153.5 | 511 | 3874 | 3145 | 7398 | 16 | 2 | 3142 | 8040 | 136 | |
| Feb | 1154.5 | 509 | 3858 | 3145 | 7398 | 32 | -1 | 3142 | 8040 | 152 | |
| Soybean, US PNW |
Nov | 1153.5 | 510 | 3848 | 3116 | 7770 | 90 | -23 | 3142 | 8040 | 162 |
| Dec | 1153.5 | 510 | 3856 | 3116 | 7770 | 82 | -10 | 3142 | 8040 | 154 | |
| Jan | 1153.5 | 508 | 3854 | 3145 | 7398 | 36 | 0 | 3142 | 8040 | 156 | |
| Feb | 1154.5 | 507 | 3843 | 3145 | 7398 | 47 | -2 | 3142 | 8040 | 167 | |
| Soybean, Brazil |
Nov | 1153.5 | 531 | 4006 | 3116 | 7770 | 10 | -22 | 3142 | 8040 | 84 |
| Dec | 1153.5 | 531 | 4016 | 3116 | 7770 | 0 | -7 | 3142 | 8040 | 74 | |
| Jan | 1153.5 | 500 | 3795 | 3145 | 7398 | 169 | 2 | 3142 | 8040 | 295 | |
| Feb | 1154.5 | 502 | 3811 | 3145 | 7398 | 153 | 0 | 3142 | 8040 | 279 | |
| Mar | 1154.5 | 487 | 3716 | 3145 | 7398 | 248 | -1 | 3142 | 8040 | 374 | |
| Apr | 1153 | 482 | 3684 | 3145 | 7398 | 280 | -3 | 3142 | 8040 | 406 | |
| May | 1153 | 483 | 3691 | 3145 | 7398 | 273 | -3 | 3142 | 8040 | 399 | |
| Jun | 1148.5 | 483 | 3685 | 3174 | 7038 | 230 | -11 | 3142 | 8040 | 405 | |
| Jul | 1148.5 | 484 | 3697 | 3174 | 7038 | 218 | -11 | 3142 | 8040 | 393 | |
| Soybean, Argentina | Nov | 1153.5 | 519 | 3918 | 3116 | 7770 | -58 | -30 | 3142 | 8040 | 11 |
| May | 1148.5 | 481 | 3676 | 3145 | 7398 | 140 | -3 | 3142 | 8040 | 253 | |
| 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%. | |||||||||||
