Bunge Q4 profit tops expectations on strong demand, forecasts solid 2021

US agricultural commodities trader Bunge Ltd posted stronger-than-expected fourth-quarter earnings on Wednesday and said its full-year adjusted profit would top estimates due to strong demand and tight commodity supplies.
 

Shares climbed above $78 in pre-market trading, the highest in nearly three years.
 

Bunge's fourth-quarter earnings beat, propelled by strong oilseed processing margins and robust North American exports, offered the latest look into how the coronavirus pandemic is impacting the world's largest grain traders.
 

The company said it expects full-year 2021 adjusted profit of at least $6 per share, higher then estimates of $5.53 per share, but down from the $8.30