Breaking News-RTRS-China cancelling soy cargoes as margins fall-trade

BEIJING/SINGAPORE, April 29 (Reuters) - Chinese soybean buyers have cancelled up to five U.S. soybean cargoes in the past few days because plentiful imports are squeezing crushing margins, traders said on Wednesday.
"We heard some 4-5 cargoes for June, July and August shipment were cancelled. Crushing margins have fallen a lot recently," said one Beijing-based trading manager with an international trading house.
Some of the traders contacted by Reuters said they had no direct knowledge of the actual cancellations, and gave varying estimates of the number of cargoes that had been cancelled.
Another trading manager said he had also heard of similar amount of cancellations but could not confirm the details, while several sources put the number of shipments at two or three.