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Published April 28, 2014, 10:47 AM

Massive soybean defaults loom in China

RIZHAO, China — Chinese buyers might default on a further 1.2 million metric tons (1.32 million tons) of soybeans worth about $900 million shipped from the U.S. and South America, to avoid incurring huge losses in a depressed local market, the country’s top soy buyer says.

By: Niu Shuping and Fayen Wong, Reuters

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