China, the world's top soya importer, has slowed down imports of the oilseed, with surges in Chicago futures squeezing profit margins, especially as a pickup in animal feed has been slower than expected.
Traders and industry officials said on Friday crushers had delayed shipment of some South American cargoes, or they had been possibly "washed out" - sold back to suppliers at a fee.
Some may also skip cargoes for August shipment following heavy arrivals in May and June as a strong rebound in Chicago futures boosted costs for soya imports, coupled with freight rates hovering near records, they said.
"Buyers have delayed shipment of some cargoes. Crushing margins are poor: negative 100-200 yuan ($13.16-$26.32) a tonne," said a trading manager at a major soya importer. "The breeding industry is not recovering as fast as people had expected. But I don't think they can easily delay the shipment as prices have already been locked."
Domestic cash soyameal prices have failed to follow Chicago soya futures, which have moved up towards 3-year highs, helped by a cut in soya planting forecast by the US Department of Agriculture last week.
Soyaoil prices have also turned soft after reaching historic highs in May, partly due to a short 2007 crop of rapeseed, an oilseed that contains more oil than soyabeans. Asked about rumours on wash-outs of July or August cargoes, a Shanghai trader said: "I haven't heard that. But it would be workable. If they washed out, they could make more money than sell (products) to the local market at today's prices.