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Bunge's Q1 2020 results showed no major COVID-19 disruptions, though the CEO warned of a challenging year ahead. The company booked mark-to-market losses on bunker fuel hedges as energy prices fell, and Grains results were driven by Brazilian origination after the real's devaluation.
Bunge's outlook for weaker edible oil demand and lower soybean processing margins signals softer oilseed processing demand, a modest bearish signal for oil and meal.
foodingredientsfirst.com08 May 2020May 8, 2020After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
