Bunge Shares Surge After Trump Targets Chinese Cooking Oil Imports

Agricultural stocks rallied on Wednesday, a day after President Donald Trump posted on Truth Social threatening to ban imports of used cooking oil from China, a key feedstock for renewable fuel production.

Shares of Bunge Global SA (NYSE: BG) led gains on the S&P 500 on Wednesday, climbing more than 12% to $92.71. Bunge's stock has risen more than 19% since the start of the year, although it remains down 2.5% over the past 52 weeks.

In his post, President Trump wrote: "I believe that China's deliberate refusal to buy our Soybeans, and the hardship it's causing our soybean farmers, is an economically hostile act. We are looking at ending trade dealings with China on cooking oil, and other elements of Trade, as retaliation. As an example, we can easily produce our own cooking oil, and don't need to buy it from China."

Shares of Archer-Daniels-Midland Co. (NYSE: ADM) also rose, recently gaining 2.5% to $63.41.

Both Bunge and ADM operate numerous soybean crushing plants across the country, producing soybean oil among other products. Soybean oil is a key feedstock used to produce biofuel, but prior to the imposition of tariffs it faced competition from used cooking oil, which had been cheaper to source.

Until this year's tariff escalation, the United States was the largest buyer of used cooking oil from China. According to data from the US International Trade Commission, nearly $1.2 billion worth of used cooking oil was imported into the United States in 2024, accounting for nearly half of all used cooking oil imports that year. Shipments slowed sharply in 2025, with $356 million worth of cooking oil imported from China during the first half of the year.

Separately, Bunge lowered its 2025 guidance, which now includes the company's merger with Canadian grain handler Viterra, an $8 billion deal that closed in July. Bunge now expects full-year adjusted earnings of between $7.30 and $7.60 per share, down from its previous guidance of about $7.75. Analysts are expecting $7.39 per share, according to FactSet.

Representatives for Bunge and ADM did not immediately respond to requests for comment.

Source: Morningstar