Bunge Stock Sinks as Falling Prices Weigh on Profit

Bunge stock is sinking after the grain trader reported shrinking profit for the first quarter of 2024, as crop prices continued to fall because of abundant supplies and expanded processing capabilities. Crop traders and processors such as Bunge buy crops—mainly soybeans but also corn and other grains—process them, and sell the end products as livestock feed, cooking oil, or biofuels. The price of soybean meal—often used in food and animal feeds—has declined 20% over the past 12 months, while prices of soybean oil declined 14%.