Chinese Soy Crusher Files for Bankruptcy The Chinese firm Shandong Sunrise Group, a soybean importer and processor as well as an independent petroleum refiner, filed for bankruptcy last Friday. It attributed this action to losses in crush margins. Crushers in Shandong Province are currently losing the equivalent of about $7.40/MT. The losses have been occurring for months and were accentuated because China’s 25 percent tariff on U.S. soybeans have forced processors to pay more for Brazilian supplies. Domestic soymeal demand is also slowing due to reduced swine production. Sources indicate China is operating at only about 60 percent of its now 145 MMT annual soybean crushing capacity. Much of the capacity needs to be mothballed to al...