Today is 04/19/2024

Crush Margins for Imported Soybeans in China--4/28/2021

2021-04-28 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
May 1549.75 652 4828 3460 8976 -389 -6 3515 9500 -246
Oct 1342.5 594 4450 3565 8192 -77 -26 3515 9500 132
Nov 1342.5 592 4437 3565 8192 -64 -26 3515 9500 145
Soybean,
US PNW
May 1549.75 650 4813 3460 8976 -374 -4 3515 9500 -231
Oct 1342.5 591 4429 3565 8192 -56 -26 3515 9500 153
Nov 1342.5 589 4410 3565 8192 -37 -26 3515 9500 172
Soybean,
 Brazil
May 1549.75 622 4616 3460 8976 -87 -52 3515 9500 61
Jun 1519.5 612 4550 3602 8430 -18 -29 3515 9500 127
Jul 1519.5 617 4590 3602 8430 -58 -30 3515 9500 87
Aug 1519.5 625 4678 3602 8430 -146 -7 3515 9500 -1
Sep 1519.5 631 4722 3602 8430 -190 -24 3515 9500 -45
Feb 1318.25 540 4051 3415 8090 265 -43 3515 9500 626
Mar 1318.25 533 4002 3415 8090 314 -56 3515 9500 675
Soybean, Argentina May 1519.5 610 4518 3460 8976 -169 -29 3515 9500 -31
Jun 1519.5 612 4541 3602 8430 -178 -29 3515 9500 -54
Jul 1519.5 613 4563 3602 8430 -200 -27 3515 9500 -76
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%.