如何锁定大豆加工厂的利润

Small soybean processing plants provide an outlet for local soybean producers and a valuable service to their local feed industry.

Unlike larger hexane gas plants, most of these plants use a mechanical extraction method where more oil is retained in meal for feed. While this is beneficial for feed, it creates merchandising challenges that many in the business struggle with.

为满足这些挑战，有三种需要使用的技能：

1. Exercising effective routines and processes
2. Understanding and managing spreads
3. 识别和捕获利润率

Exercising effective routines and processes

准确地评估您的价格风险，基础风险和传播风险的日常惯例对提出正确的管理决策至关重要。纪律处规的例程和流程是任何操作的商品化的基石，对大豆处理器更重要。

Are you managing your price risk for soybeans, soybean meal and soybean oil? These three commodities have their own pricing mechanism, basis and futures price.

The question that must be answered is, “where and how much price exposure do I have?” It would not be unusual for the typical processing plant to be long cash soybeans to be processed while also being short soybean meal and oil in the cash market.

坚实的例程将帮助评估how much price risk you have for each piece. The traditional “long and short” position report is one that every grain elevator knows very well. A report like this is easy to put together for soybeans, meal and oil. What is less easy is to connect is all the pieces to identify just how much price exposure there is to the operation. The good news is that it is possible, and there is nothing more important than taking the time to make sure you are doing it accurately and in a timely fashion.

Understanding and managing spreads

Managing soybean spreads is a critical facet of making sure you own the best soybean basis possible for your facility to crush. You must take a proactive role in locking in carries when they are available. Most merchandisers will tell you spreads are very important when it comes to managing flow of grain through your facility.

理想情况下，您锁定在处理后支付携带大豆的全部费用，直到它们处理。这并不总是可以的，因此您必须规划您的处理需求如何与农民向您销售豆类的方式。对豆类处理器更重要的是挤压酱。管理此扩展的准确性至关重要。设置挤压率的错误可能导致意外的财务风险和结果中的严重问题。

What is the difference in your mechanical spread needs versus the synthetic CME crush spread? Understanding your crush needs and tracking them along with your production is necessary for profitable operation. The CME offers the “Soybean Crush Synthetic” to its customers to help manage the crush spread.

这种压碎的涂抹基于一个60磅的大豆蒲式耳，产生44磅大豆饭和11磅的大豆油。要将50,000蒲式耳的大豆粉碎，您需要购买10个大豆合约，然后销售11个100吨的膳食合同和九个60,000磅的石油合同。这些比率适用于己烷气体植物，但对挤出机并不多。

典型的挤出机植物将产生47磅至48磅的膳食，每蒲式耳的大豆为七到八磅油。这些膳食和油产量的差异对挤压蔓延有重大影响。

For this plant to set the crush on 50,000 bushels of soybeans, they would need to buy that same 50,000 bushels of soybean and sell 12 100-ton contracts of soybean meal and six 60,000-pound contracts of soybean oil.

Recognizing and locking in profitable margins

Implementing solid tracking routines and processes and managing futures spreads gives your company a better chance of success because you can make accurate, informed decisions.

By managing and monitoring your price risk, you will reduce your market exposure to price movement. Doing the same thing with each of the commodity’s basis risk is just as important.

注意并知道典型的基础模式是针对每个的典型模式可能对结果产生巨大影响。您的内部和外部团队成员是否坚定地掌握风险的位置以及管理它们的措施？每家公司都应有一个坚定的会计基础，以协助跟踪和监测其结果。

在内部，会计和管理团队必须了解商品队在管理价格风险，基础风险和传播方面正在服用的步骤。外部，审计师，会计和贷方需要知道也在做些什么。■

—Scott Hansen