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 |
Dec | 1184.25 | 516 | 3871 | 3078 | 8002 | 81 | 9 | 3041 | 8250 | 99 |
Jan | 1184.25 | 514 | 3865 | 3139 | 7500 | 40 | 6 | 3041 | 8250 | 105 | |
Feb | 1188.75 | 516 | 3884 | 3139 | 7500 | 21 | 7 | 3041 | 8250 | 86 | |
Soybean, US PNW |
Dec | 1184.25 | 508 | 3816 | 3078 | 8002 | 136 | 9 | 3041 | 8250 | 154 |
Jan | 1184.25 | 507 | 3810 | 3139 | 7500 | 95 | 5 | 3041 | 8250 | 160 | |
Feb | 1188.75 | 506 | 3815 | 3139 | 7500 | 90 | 6 | 3041 | 8250 | 155 | |
Soybean, Brazil |
Jan | 1184.25 | 509 | 3825 | 3139 | 7500 | 155 | 5 | 3041 | 8250 | 227 |
Feb | 1188.75 | 506 | 3808 | 3139 | 7500 | 172 | 18 | 3041 | 8250 | 244 | |
Mar | 1188.75 | 494 | 3742 | 3139 | 7500 | 238 | 6 | 3041 | 8250 | 310 | |
Apr | 1190.25 | 492 | 3732 | 3139 | 7500 | 248 | 8 | 3041 | 8250 | 320 | |
May | 1190.25 | 493 | 3733 | 3139 | 7500 | 247 | 8 | 3041 | 8250 | 319 | |
Jun | 1188 | 497 | 3764 | 3185 | 7114 | 175 | 3 | 3041 | 8250 | 288 | |
Jul | 1188 | 499 | 3780 | 3185 | 7114 | 159 | 3 | 3041 | 8250 | 272 | |
Soybean, Argentina | May | 1188 | 494 | 3740 | 3139 | 7500 | 90 | 11 | 3041 | 8250 | 147 |
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%. |