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Crop Trader Bunge Surges After CEO Forecasts Higher Profits

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Dec 10, 2020 at 08:43 AM CST
Bunge Ltd., one of the world’s top agricultural commodities trader, surged to a two-year high after its chief executive officer forecast even higher earnings. The ‘B’ in the storied quartet of crop traders that dominate the industry now sees earnings of $6.75 a share as the lower end of the range for this year, CEO Greg Heckman said at a BMO event. That was the the top of the forecast provided to investors in October, when Bunge reported third-quarter results.

Dec 10, 2020 at 08:43 AM CST

Bunge Ltd., one of the world’s top agricultural commodities trader, surged to a two-year high after its chief executive officer forecast even higher earnings. The ‘B’ in the storied quartet of crop traders that dominate the industry now sees earnings of $6.75 a share as the lower end of the range for this year, CEO Greg Heckman said at a BMO event. That was the the top of the forecast provided to investors in October, when Bunge reported third-quarter results.