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Oil Refiner, Soybean Crusher Collapse as China Tightens ...Shandong Sunrise Group, a soybean crusher, registered for bankruptcy last week after failing to repay its debts, while Shandong Haiyou Petrochemical Group, an independent refiner, filed for joint bankruptcy with Shandong Hongju New Energy Co, a chemical trader. Both Haiyou and Hongju were previously controlled by Sunrise.
Brazil soybean prices surge as China trade spat .Rain during harvesting in neighboring Brazil may have also slowed soybean trading, contributing to higher prices, said traders. Strong demand for biodiesel in Brazil has boosted soy crush margins, raising demand from local crushers and reducing the volume of soybeans available for export, said one Brazilbased trader.
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