NEWS
China to Cancel Soybean Order
Wed Mar 20, 2013 07:29 AM CDT

BEIJING (Dow Jones) -- Shandong-based Sunrise Group, China's leading importer of soybeans, will cancel an order to purchase about 2 million metric tons of Brazilian soybeans from Japan's Marubeni (8002.TO), as shipments have been delayed due to port congestion in the South American nation, a Sunrise executive said Wednesday.

Sunrise Group will continue to buy soybeans form Argentina and Brazil to meet its needs but may choose another exporter, Shao Guorui, general manager of its soybean trading unit, told Dow Jones Newswires.

Mr. Shao said the canceled contracts include more than 20 cargoes and were scheduled to be shipped between ...

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