By Patrick Thomas

Large crop traders and processors had it rough over the past year, due to President Trump's trade war with China, low crop prices and delays in biofuel policies. They're hoping for more stability in 2026.

Grain giants ADM and Bunge reported earnings in their latest quarter below what some Wall Street analysts were expecting.

-- Beijing's slowdown in buying American soybeans during peak harvest time last year hurt the traders that facilitate exports. The oversupply of soybeans weighed on prices, hurting the company's trading profit margins.

-- Illinois-based ADM said this week that poor soybean exports helped drive a 31% decline in profits from its trading business.

-- Bunge, which reported higher sales of its trading business after completing a deal to buy rival trader Viterra, said its margins were also pressured by the trade spat last year.

The companies had been banking on U.S. rules that would require more soybean oil to be blended into biofuels, such as diesel. That hasn't happened yet, further eroding demand for farmers' harvests.

Shares of ADM were down about 1% after its earnings on Tuesday. Meanwhile, shares of Bunge ticked up 1.6% Wednesday after executives said they expect a more normal year ahead.

"2025 was a lot of uncertainty with trade and the conflicts between U.S., China," said Bunge CEO Greg Heckman on a call with analysts. "We'd expect to see a more normal flow in the coming year."

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(END) Dow Jones Newswires

February 04, 2026 13:17 ET (18:17 GMT)

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