Bunge raises 2026 outlook as feed, fuel and oilseed demand lift Q1 earnings

USA – Bunge Global SA has raised its full-year earnings outlook after stronger soybean processing, refining and global commodity demand helped support first-quarter performance amid continued volatility in global agricultural markets.

The company reported first-quarter 2026 net sales of US$21.86 billion, up sharply from US$11.64 billion a year earlier, driven largely by stronger soybean and softseed processing demand, refining margins and higher commodity prices.

Adjusted earnings per share reached US$1.83, slightly ahead of the US$1.81 reported in the prior-year period, while GAAP diluted earnings per share declined to US$0.35 from US$1.48.

Following the results, Bunge increased its full-year adjusted EPS guidance range to between US$9.00 and US$9.50, compared to its earlier forecast of US$7.50 to US$8.00.

Greg Heckman said the company benefited from its diversified global footprint as shifting trade flows and geopolitical uncertainty continued to reshape agricultural markets.

“The Bunge team delivered a strong first quarter, executing with the discipline and speed that define this organisation, while navigating one of the more rapidly changing market environments in recent years,” Heckman said.

Feed and biofuel demand reshape global grain flows

Speaking at the BMO Global Farm to Market Conference on May 13, Bunge executives highlighted growing opportunities across the food, fuel, and feed sectors as demand for oilseeds and protein meals continues to expand globally.

The company said years of investment in its global infrastructure and processing network are helping it respond to changing commodity flows and rising demand for livestock feed, renewable fuels and food production.

A major part of that expansion came through Bunge’s acquisition of Viterra, which significantly increased the company’s global soybean crushing capacity, including expanding its presence in Argentina.

“We now touch more farmers directly than anyone else on the globe,” Heckman said during the conference.

“Most importantly, we can now connect those farmers to the consumers and feed, food, and fuel because we’re also in all of the key consuming markets.”

The company said soybean processing and oilseed demand remain supported by continued growth in animal feed production and in the renewable diesel market.

Global feed manufacturers have increasingly relied on soybean meal and other protein ingredients as livestock sectors expand poultry, aquaculture and dairy production to meet rising protein demand.

At the same time, vegetable oils continue seeing stronger demand from biofuel producers, particularly in renewable diesel and sustainable aviation fuel supply chains.

Despite stronger results, Bunge cautioned that market visibility remains limited due to macroeconomic uncertainty, shifting trade policies and geopolitical tensions affecting agricultural supply chains.

However, the company said the long-term fundamentals for feed, food, and fuel demand remain supportive of continued growth.

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