News
Bunge shares soar after Trump considers China cooking oil embargo
Published
5 months agoon
By
admin
Bunge Global jumped more than 11% on Wednesday on the back of the Trump administration’s threat to cut off U.S. purchases of Chinese cooking oil. Bunge is one of the largest soybean processors and cooking oil producers in the world. The stock’s year to date gains are roughly 18%. President Donald Trump on Tuesday said the U.S. is considering “terminating business with China having to do with Cooking Oil” as a retaliatory action against Beijing’s refusal to buy U.S. soybeans. China was the top buyer of American soybeans for years but has not bought a single soybean from the U.S. since May amid its trade war with the Trump administration. The country has instead been buying the crop from Argentina and Brazil due to Trump’s high tariff rates on China. Trump’s threat to China comes after China’s used cooking oil exports surged to record highs last year, with the U.S. accounting for 43% of the total export number. Trade tensions between China and the U.S. have escalated in recent days. Late last week, President Donald Trump threatened to impose an additional 100% tariff on Chinese imports. That came after China placed new export controls on rare earth minerals. China this week then moved to tighten its grip in the global shipping space by sanctioning five U.S. subsidiaries from South Korea’s Hanwha Group. Bunge earlier Wednesday also gave a full-year forecast that reflects its merger with grain and oilseeds processor Viterra. The company said it expects to earn $7.30 to $7.60 per share, excluding items, while analysts polled by FactSet expected $7.39 per share. Still, that appeared to be better than many investors feared. BG ADM 1Y mountain Bunge and ADM stock performance over the past year. Shares of Archer-Daniels-Midland , another large American oilseed processor, also rose 1.5% after Trump’s threat.
This industrial giant is emerging as a big AI play, says Wells Fargo
Novo Nordisk’s strategy tested as investors push back on board revamp
Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan
UK borrowing costs spike on report government to scrap plans to raise income tax
Trump’s threatened the BBC with a $1B lawsuit: Here’s what’s going on
UBS’s picks for global returns next year
Wells Fargo sees Caterpillar continuing to roar higher, emerging as an artificial intelligence play. The bank initiated shares of...
Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic...
Key Points Alibaba plans to use “tokenization” of payments for cross-border transactions in its business-to-business arm. Kuo Zhang, president...
Rachel Reeves, U.K. chancellor of the exchequer, delivers a speech in London, UK, on Tuesday, Nov. 4, 2025. Bloomberg...
US President Donald Trump speaks to reporters as he arrives at Palm Beach International Airport on Oct. 31,...
Investors looking for global diversification opportunities should look to a specific subset of stocks in Europe, according to UBS...
Eakarat Buanoi | Istock | Getty Images LISBON, Portugal — Top tech executives told CNBC they’re concerned about...
Tan Su Shan, deputy chief executive officer and managing director of institutional banking at DBS Group Holdings Ltd., speaks during...
CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping area that...
The United States said Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and...
