Today is 11/22/2025
| 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 |
Feb | 1375 | 583 | 4321 | 3448 | 8186 | -42 | -11 | 3730 | 9080 | 351 |
| Oct | 1186.5 | 531 | 3981 | 3331 | 7436 | 63 | -3 | 3730 | 9080 | 691 | |
| Soybean, US PNW |
Feb | 1375 | 580 | 4296 | 3448 | 8186 | -17 | -11 | 3730 | 9080 | 376 |
| Oct | 1186.5 | 529 | 3967 | 3331 | 7436 | 77 | -3 | 3730 | 9080 | 705 | |
| Soybean, Brazil |
Feb | 1375 | 570 | 4222 | 3448 | 8186 | 139 | -9 | 3730 | 9080 | 541 |
| Mar | 1375 | 556 | 4130 | 3448 | 8186 | 231 | -11 | 3730 | 9080 | 633 | |
| Apr | 1376.5 | 556 | 4140 | 3448 | 8186 | 221 | -12 | 3730 | 9080 | 623 | |
| May | 1376.5 | 557 | 4176 | 3448 | 8186 | 185 | -11 | 3730 | 9080 | 587 | |
| Jun | 1364.75 | 563 | 4220 | 3474 | 7512 | 27 | -1 | 3730 | 9080 | 543 | |
| Jul | 1364.75 | 567 | 4247 | 3474 | 7512 | 0 | -1 | 3730 | 9080 | 516 | |
| Soybean, Argentina | May | 1364.75 | 563 | 4215 | 3448 | 8186 | -18 | -14 | 3730 | 9080 | 366 |
| Remarks: | |||||||||||
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1. DCE: Dalian Commodity Exchange; SBM Spot: soybean meal spot price yesterday; SBO spot: soybean oil spot price yesterday; SCM: spot crushing margin. |
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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. |
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| 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%. | |||||||||||
