China expected to cancel 1.1 million tonnes of soybeans from the US as new tariff bites.

Chinese companies are expected to cancel most of the remaining soybeans they have committed to buy from the United States in the year ending August 31 once the extra tariff on US imports takes effect. China has yet to take delivery of more than 1.1 million tonnes booked for the current marketing year, last week that China had resold about 123,000 tonnes of committed deliveries to Bangladesh and Iran.