CHICAGO: A year removed from a losing bet that the U.S.-China trade war would be promptly resolved, global grains trader Bunge Ltd is facing an even more uncertain business environment, with a new chief executive who is determined not to get burned again.
"We want to avoid any surprises from stroke-of-the-pen risk," Heckman said, referring to unforeseen risks such as abrupt government policy shifts or tweets by U.S. President Donald Trump. Grain merchants like Bunge and rivals Archer Daniels Midland Co , Cargill Inc and Louis Dreyfus Co, known as the ABCD quartet of global grain trading giants, have already been restructuring their businesses and cutting costs after a years-long crop supply glut that thinned margins and sapped profits.
Bunge left its full-year 2019 earnings guidance unchanged when it announced second-quarter results on July 31, but warned that uncertainty from African swine fever and the trade war meant more of the profit for the second half of 2019 would come in the fourth quarter.
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