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 | 1169.75 | 518 | 3909 | 3135 | 7808 | 51 | -14 | 3124 | 8150 | 107 |
| Dec | 1169.75 | 518 | 3917 | 3135 | 7808 | 43 | -14 | 3124 | 8150 | 99 | |
| Jan | 1169.75 | 516 | 3911 | 3164 | 7440 | 2 | -14 | 3124 | 8150 | 105 | |
| Feb | 1168.5 | 513 | 3888 | 3164 | 7440 | 25 | -7 | 3124 | 8150 | 128 | |
| Soybean, US PNW |
Nov | 1169.75 | 515 | 3881 | 3135 | 7808 | 79 | -11 | 3124 | 8150 | 135 |
| Dec | 1169.75 | 515 | 3889 | 3135 | 7808 | 71 | -11 | 3124 | 8150 | 127 | |
| Jan | 1169.75 | 514 | 3896 | 3164 | 7440 | 17 | -19 | 3124 | 8150 | 120 | |
| Feb | 1168.5 | 512 | 3879 | 3164 | 7440 | 34 | -13 | 3124 | 8150 | 137 | |
| Soybean, Brazil |
Nov | 1169.75 | 537 | 4047 | 3135 | 7808 | -9 | -19 | 3124 | 8150 | 51 |
| Dec | 1169.75 | 537 | 4058 | 3135 | 7808 | -20 | -20 | 3124 | 8150 | 40 | |
| Jan | 1169.75 | 506 | 3837 | 3164 | 7440 | 151 | -18 | 3124 | 8150 | 261 | |
| Feb | 1168.5 | 507 | 3839 | 3164 | 7440 | 149 | -4 | 3124 | 8150 | 259 | |
| Mar | 1168.5 | 490 | 3738 | 3164 | 7440 | 250 | 2 | 3124 | 8150 | 360 | |
| Apr | 1164.75 | 485 | 3700 | 3164 | 7440 | 288 | 8 | 3124 | 8150 | 398 | |
| May | 1164.75 | 486 | 3707 | 3164 | 7440 | 281 | 8 | 3124 | 8150 | 391 | |
| Jun | 1159.5 | 485 | 3700 | 3184 | 7150 | 245 | 15 | 3124 | 8150 | 398 | |
| Jul | 1159.5 | 486 | 3709 | 3184 | 7150 | 236 | 18 | 3124 | 8150 | 389 | |
| Soybean, Argentina | Nov | 1169.75 | 525 | 3959 | 3135 | 7808 | -77 | -19 | 3124 | 8150 | -24 |
| May | 1159.5 | 485 | 3698 | 3164 | 7440 | 141 | 1 | 3124 | 8150 | 237 | |
| 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%. | |||||||||||
