Bunge Shares Weaken As Trading Margins Slow -- Market Talk

Dow Jones04-24

0908 ET - Bunge is down about 5% premarket as the grain traders' profit margins face pressure from falling crop prices due to an abundant supply of grain. An increase in soybean processing capacity in the US is also pressuring vegetable oil producers such as Bunge. The crop shipper reported a 1Q adjusted profit of $3.04 a share, exceeding analyst expectations and the company maintained its outlook of $9 per share earnings for the year. Company executives say on a call with analysts that livestock feed demand is expected to improve as profit margins for chicken and pork producers improve. (patrick.thomas@wsj.com)

(END) Dow Jones Newswires

April 24, 2024 09:08 ET (13:08 GMT)

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