Shares of agriculture company Bunge Global rose 11% in midday trading Wednesday, the top performer in the S&P 500.
The move followed a post from President Trump late Tuesday threatening to ban exports from China of used cooking oil—a key ingredient needed to produce renewable fuels. Both Bunge and Archer-Daniels-Midland operate plants nationwide that make soybean oil among other products. Soybean oil is an ingredient used to produce biofuels, but before tariffs were introduced faced competition from used cooking oils that are cheaper to source.
Bunge stock rallied Wednesday despite the company lowering its 2025 guidance, which now includes Canadian grains firm Viterra. Bunge now expects full-year adjusted earnings of $7.30 to $7.60 a share, down from its previous forecast of about $7.75. Analysts expect $7.39 a share, according to FactSet.
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