China confirms cancellation of up to eight soya cargoes
CHINA has confirmed the cancellation of six to eight South American soya cargoes and the deferral of about 20 shipments as crushers make losses, partly due to Beijing's expected release of a large volume of state soya reserves at lower prices to tame food inflation.
US exporters sold 120,000 metric tons of soybeans to China in the 2011-2012 marketing year that began on Sept. 1.