Bunge Beats Quarterly Profit Estimates on Grain, Oilseed Volumes; 2024 Outlook Intact

Bunge exceeded Wall Street expectations for third-quarter profit on Wednesday as large global harvests provided the grain trader and processor enough volumes of soy, corn and other crops to blunt a hit from lower margins.

The global grains merchant had expected a profit lift from a spike in crop sales by U.S. farmers, who are harvesting a record soybean crop and their second-largest corn crop ever.

Bunge firmed its 2024 adjusted earnings-per-share outlook to "at least $9.25" from...

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