Bunge Limited (BG)

As Q2 progressed, the global crush environment underwent a complete reversal from the extremely depressed conditions of April/early May, reflecting various factors (discussed in prior industry notes). The domestic veg oil market outlook also materially…

There have been notable shifts in the markets most relevant to our coverage over the past several weeks, and those markets have been particularly volatile reflecting, among other factors, the threat of a tighter global…

As expected, BG reported strong Q1 upside, but did not alter its full-year guide. That is prudent, in our view, given an industry backdrop that is both much more challenged than in recent years, as…

Earnings season for our coverage kicks off this week with Bunge and DAR. Excepting DAR and GPRE, we expect upside for the quarter, but more important is the outlook; for each company, there are challenges,…

Earnings season for our coverage kicks off tomorrow with Bunge and the fundamental backdrop for our agribusiness coverage seems to be more uncertain with many more crosscurrents than usual. Excepting DAR and GPRE, we expect…

The workshop is ongoing at present, but yesterday at noon ET, CARB published a slide deck to accompany the workshop hosted today (from noon to 7p ET). The rule is not yet definitive, but the…

As we noted in our industry notes published earlier today, we are not utilizing the typical rating system, but instead, are using a forced rank process. This note shows current ranking based upon Friday’s close.

When Greg Heckman and John Neppl assumed the CEO and CFO roles, respectively, at BG in 2019, they inherited a strategically very attractive and well-positioned asset base, but also took on a mammoth fixer-upper from…