1 month ago
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Reuters
Wed, July 29, 2026 astatine 5:25 AM CDT 1 min read
July 29 (Reuters) - Bunge raised its full-year adjusted nett forecast connected Wednesday aft beating Wall Street estimates for second-quarter earnings, helped by beardown performances successful its soybean and softseed processing businesses amid improving marketplace conditions.
U.S. maize and soybean prices person climbed sharply since the commencement of the Iran war, prompting farmers to measurement up sales of atom they had held backmost from past year's harvest amid a prolonged play of weak prices.
The terms rally has spurred income crossed the Midwest, with farmers moving corn, soybeans and wheat from retention bins to ethanol producers and major atom handlers specified arsenic Archer-Daniels-Midland and Bunge.
Prices of crops specified arsenic corn, which are utilized to marque biofuels, besides got a boost from a spike successful crude lipid prices owed to the war.
Net income from its soybean processing and refining were $12.07 billion, compared with $7.75 cardinal a twelvemonth ago.
Softseed processing and refining conception reported quarterly nett income of $4.09 billion, compared with $1.53 cardinal a twelvemonth ago.
The institution present expects 2026 adjusted net of $9.25 to $9.75 per share, up from its erstwhile forecast of $9.00 to $9.50.
(Reporting by Katha Kalia successful Bengaluru; Editing by Leroy Leo)
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