By Karl Plume and Katha Kalia
July 29 (Reuters) - U.S. agribusiness Bunge Global raised its full-year adjusted profit forecast on Wednesday as it beat Wall Street estimates for second-quarter earnings on robust processing margins for soybeans and other oilseeds and strong demand.
Soaring crude oil prices, after global supply disruptions caused by the Iran war, sent soybean oil prices sharply higher in the quarter, bolstering margins for the world's largest oilseed processor. Bunge's expanded processing
footprint following its acquisition last year of grain handler Viterra lifted volumes.
The earnings beat marked a turnaround for Bunge, which has, like other global crop merchants, grappled with a grains glut for years, while trade disruptions depressed agribusiness earnings in more recent quarters.
Higher U.S. biofuel blending mandates released by the U.S. Environmental Protection Agency earlier this year after a lengthy delay also lifted uncertainty that had weighed on earnings in recent quarters.
Processing volumes jumped as U.S. corn and soybean prices climbed sharply since the start of the Iran war, prompting farmers to step up sales of grain held back from last year's harvest amid the prolonged period of weak prices.
Bunge's adjusted earnings per share in the quarter ended June 30 jumped to $2.00, from $1.31 in the same quarter a year earlier, topping the consensus analyst estimate of $1.95.
Net sales from its soybean processing and refining rose to $12.07 billion from $7.75 billion a year ago.
The softseed processing and refining segment reported quarterly net sales of $4.09 billion, up from $1.53 billion a year ago.
Bunge raised its 2026 adjusted earnings outlook for a second straight quarter, citing improved margins and a favorable macro environment. The company now expects earnings for this year of $9.25 to $9.75 per share, up from its previous forecast of $9.00 to $9.50.
Bunge shares were up 0.4% in pre-market trading and were up more than 30% in the year to date.
(Reporting by Karl Plume in Chicago and Katha Kalia in Bengaluru; Editing by Leroy Leo, Kirsten Donovan)
