Shares of Bunge Global SA jumped more than 13% on Wednesday after President Donald Trump said the United States is considering ending purchases of Chinese cooking oil.
The agricultural commodities giant — one of the world’s largest soybean processors and cooking oil producers — led the S&P 500 higher, with shares rising over 13% to $93.44.
Bunge’s stock has now gained roughly 17% year-to-date, although it remains down 3.6% over the past 52 weeks.
Trump’s comments, made in a Truth Social post late Tuesday, marked the latest escalation in US-China trade tensions.
He accused China of engaging in “economically hostile acts” by refusing to buy US soybeans, saying Washington is weighing a termination of cooking oil trade “and other elements of trade” as retaliation.
“I believe that China purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers, is an Economically Hostile Act,” Trump said, adding that the US could “easily produce Cooking Oil ourselves” without reliance on imports from China.
The president’s remarks follow months of heightened trade friction.
Last week, Trump threatened an additional 100% tariff on Chinese imports after Beijing imposed new export controls on rare earth minerals.
China has also moved to sanction five US subsidiaries from South Korea’s Hanwha Group, further straining bilateral ties.
Soybean and biofuel markets in focus
The dispute over cooking oil has significant implications for the agricultural and renewable fuel sectors.
Used cooking oil — one of China’s top exports to the US — is a key feedstock for biofuel production.
According to data from the US International Trade Commission, the United States imported nearly $1.2 billion worth of used cooking oil from China in 2024, representing almost half of all such imports.
However, shipments have fallen sharply in 2025, with just $356 million worth imported through the first half of the year.
The decline comes as tariffs rise and supply chains tighten, creating opportunities for domestic processors like Bunge and Archer-Daniels-Midland (ADM).
Shares of ADM also rose Wednesday, gaining about 2.5% to $63.41.
Both Bunge and ADM operate major soybean crush plants across the US, converting soybeans into oil and meal used for food, animal feed, and biofuel production.
Industry analysts say Trump’s proposed policy could strengthen the competitive position of US processors if Chinese imports are curtailed further.
Outlook reflects Viterra Merger and conservative guidance
Alongside the market rally, Bunge on Wednesday provided updated financial guidance that reflects its recent merger with Canadian grains company Viterra, an $8 billion deal completed in July.
The company now expects adjusted earnings between $7.30 and $7.60 per share for the full year, excluding certain items.
Analysts surveyed by FactSet were forecasting $7.39 per share.
The updated outlook marks a slight reduction from Bunge’s prior forecast of around $7.75 per share, but still represents a performance that investors viewed as better than feared.
While the merger is expected to strengthen Bunge’s scale in grain and oilseed processing, near-term results may remain influenced by shifting trade policies and commodity price volatility.
As the Trump administration weighs further actions against Beijing, Bunge’s gains highlight how trade tensions — long a source of market anxiety — can also drive sharp moves in sectors poised to benefit from policy shifts in Washington.
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