Today is 03/29/2024

Crush Margins for Imported Soybeans in China--1/13/2021

2021-01-13 www.cofeed.com
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
Jan 1418.25 592 4373 3766 8038 129 110 3864 8850 361
Feb 1418.25 592 4379 3766 8038 123 108 3864 8850 355
Soybean,
US PNW
Jan 1418.25 590 4362 3766 8038 140 108 3864 8850 372
Feb 1418.25 590 4368 3766 8038 134 116 3864 8850 366
Oct 1176.5 515 3847 3662 7486 468 59 3864 8850 887
Soybean,
 Brazil
Jan 1418.25 585 4322 3766 8038 261 94 3864 8850 501
Feb 1418.25 579 4288 3766 8038 295 94 3864 8850 535
Mar 1418.25 570 4231 3766 8038 352 106 3864 8850 592
Apr 1413.75 569 4243 3766 8038 340 111 3864 8850 580
May 1413.75 571 4255 3766 8038 328 98 3864 8850 568
Jun 1399.5 569 4243 3760 7594 246 33 3864 8850 580
Jul 1399.5 577 4298 3760 7594 191 33 3864 8850 525
Soybean, Argentina May 1399.5 570 4252 3766 8038 170 96 3864 8850 394
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%.