Today is 12/31/2024
| 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 |
Apr | 1449.75 | 623 | 4633 | 3461 | 8730 | -240 | -1 | 3387 | 9290 | -192 |
| Oct | 1284 | 573 | 4313 | 3540 | 7948 | -6 | 22 | 3387 | 9290 | 128 | |
| Nov | 1284 | 567 | 4273 | 3540 | 7948 | 34 | 22 | 3387 | 9290 | 168 | |
| Soybean, US PNW |
Apr | 1449.75 | 619 | 4606 | 3461 | 8730 | -213 | -1 | 3387 | 9290 | -165 |
| Oct | 1284 | 570 | 4290 | 3540 | 7948 | 17 | 22 | 3387 | 9290 | 151 | |
| Nov | 1284 | 565 | 4257 | 3540 | 7948 | 50 | 22 | 3387 | 9290 | 184 | |
| Soybean, Brazil |
Apr | 1449.75 | 583 | 4347 | 3461 | 8730 | 133 | 2 | 3387 | 9290 | 187 |
| May | 1449.75 | 585 | 4367 | 3461 | 8730 | 113 | 5 | 3387 | 9290 | 167 | |
| Jun | 1436.5 | 587 | 4387 | 3583 | 8216 | 87 | 8 | 3387 | 9290 | 147 | |
| Jul | 1436.5 | 591 | 4417 | 3583 | 8216 | 57 | 19 | 3387 | 9290 | 117 | |
| Aug | 1436.5 | 596 | 4483 | 3583 | 8216 | -9 | 14 | 3387 | 9290 | 51 | |
| Sep | 1436.5 | 599 | 4510 | 3583 | 8216 | -36 | 8 | 3387 | 9290 | 24 | |
| Feb | 1254.75 | 513 | 3867 | 3399 | 7838 | 386 | 19 | 3387 | 9290 | 667 | |
| Soybean, Argentina | May | 1436.5 | 583 | 4351 | 3461 | 8730 | -45 | 11 | 3387 | 9290 | -3 |
| June | 1436.5 | 586 | 4381 | 3583 | 8216 | -72 | 19 | 3387 | 9290 | -33 | |
| July | 1436.5 | 588 | 4400 | 3583 | 8216 | -91 | 8 | 3387 | 9290 | -52 | |
| 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%. | |||||||||||
