Bunge Earnings Soar as War in Ukraine Boosts Grain Prices
- Company announced charges of $12 million related to Ukraine
- Ukraine operations back online, but exports are very limited
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Bunge Ltd., a crop trader and the world’s biggest oilseed processor, lifted its full-year earnings forecast while citing “unprecedented” conditions in global agricultural markets after Russia’s invasion of Ukraine and a drought in Brazil boosted global crop prices.
Bunge is the “B” in the quartet of global crop merchants known as the ABCDs. Its rival and the “A” in the quartet, Archer-Daniels-Midland Co. reported its best-ever quarterly results Tuesday.