Bunge’s Soy Agribusiness Crushes Expectations; Raising Our FVE on Higher Near-Term Profits
Bunge reported steady first-quarter earnings as higher soy crush margins drove management to increase its 2018 agribusiness segment profit guidance to a midpoint of $900 million from a midpoint of $625 million. Bunge is the largest global soybean processor by capacity. As such, profits in the company’s agribusiness are greatly affected by the prevailing soy crush margin (the spread between the price Bunge buys soybeans from farmers and the price at which it sells the derivative soy meal and soy ...
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