# China soybean crush margin turns positive after 2 months, headwind remains | S&P Global

> China's gross soybean crush margin for October turned positive at $0.37/mt on Aug. 25, up from minus $7.85/mt the prior day, according to Platts. Soybean meal and oil futures on the Dalian Commodity Exchange rose 5% and 9% respectively over the prior two weeks on tighter domestic supply.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/34544-china-soybean-crush-margin-turns-positive-after-2-months-headwind-remains-s-and
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Positive crush margins encourage crushers to resume processing, which lifts soybean meal output and demand for imported soybeans, though crushers still face headwinds from lower volumes. Firmer meal and oil prices support feed input costs in China.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/082823-china-soybean-crush-margin-turns-positive-after-2-months-headwind-remains

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.