Today is 11/10/2025
| 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 |
Mar | 1423.25 | 615 | 4594 | 3276 | 9218 | -255 | -4 | 3232 | 10030 | -135 |
| Oct | 1223.5 | 556 | 4214 | 3269 | 8104 | -92 | -35 | 3232 | 10030 | 245 | |
| Nov | 1223.5 | 552 | 4186 | 3269 | 8104 | -64 | -34 | 3232 | 10030 | 273 | |
| Soybean, US PNW |
Mar | 1423.25 | 613 | 4579 | 3276 | 9218 | -240 | -4 | 3232 | 10030 | -120 |
| Oct | 1223.5 | 554 | 4199 | 3269 | 8104 | -77 | -35 | 3232 | 10030 | 260 | |
| Nov | 1223.5 | 550 | 4171 | 3269 | 8104 | -49 | -34 | 3232 | 10030 | 288 | |
| Soybean, Brazil |
Mar | 1423.25 | 580 | 4337 | 3276 | 9218 | 95 | -3 | 3232 | 10030 | 222 |
| Apr | 1423.25 | 578 | 4334 | 3276 | 9218 | 98 | -4 | 3232 | 10030 | 225 | |
| May | 1423.25 | 578 | 4345 | 3276 | 9218 | 87 | -4 | 3232 | 10030 | 214 | |
| Jun | 1411.25 | 578 | 4344 | 3368 | 8424 | 2 | -27 | 3232 | 10030 | 215 | |
| Jul | 1411.25 | 581 | 4398 | 3368 | 8424 | -52 | -21 | 3232 | 10030 | 161 | |
| Aug | 1411.25 | 585 | 4431 | 3368 | 8424 | -85 | -21 | 3232 | 10030 | 128 | |
| Sep | 1411.25 | 592 | 4478 | 3368 | 8424 | -132 | -21 | 3232 | 10030 | 81 | |
| Soybean, Argentina | May | 1411.25 | 576 | 4328 | 3276 | 9218 | -81 | -7 | 3232 | 10030 | 31 |
| June | 1411.25 | 577 | 4333 | 3368 | 8424 | -156 | -18 | 3232 | 10030 | 26 | |
| July | 1411.25 | 580 | 4390 | 3368 | 8424 | -213 | -19 | 3232 | 10030 | -31 | |
| 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%. | |||||||||||
