Thursday, June 18, 2009

Breaking News-RTRS-ANALYSIS-China seen scrapping US soy deals, but most will ship

CHICAGO, June 16 (Reuters) - An abrupt halt to China's U.S. soybean buying spree this spring followed by cancellations of some purchases has thrown into question the fate of some 1.3 million tonnes of soybeans bought but not yet shipped to the world's largest importer.
China has thus far scrapped only a small number of U.S. old-crop purchases but an expected slowdown in China's imports amid its now-abundant domestic supply will likely lead to more, traders and analysts said.