受贸易摩擦、农产品价格低迷及生物燃料政策延迟等多重因素冲击，大型粮食贸易与加工企业过去一年遭遇严峻挑战。这些行业巨头正将目光投向2026年，期待市场环境趋于平稳。
最新财报显示，粮食巨头Archer Daniels Midland Co与邦吉的季度收益均未达到部分华尔街分析师的预期。其中，去年收割旺季期间中国对美国大豆采购节奏放缓，直接冲击了出口贸易商的业务。大豆供应过剩压低了市场价格，进而侵蚀了企业的交易利润空间。
总部位于伊利诺伊州的Archer Daniels Midland Co本周指出，大豆出口疲软导致其交易业务利润骤降31%。而完成对竞争对手Viterra收购案的邦吉虽实现交易业务销售额增长，但坦言去年贸易争端同样挤压了其利润率。
两家企业曾寄希望于美国生物燃料掺混政策扩大豆油需求，但相关法规迟迟未落地，进一步削弱了对农产品的需求。
财报发布后，Archer Daniels Midland Co股价周二下跌约1%。与之相对，邦吉高管对2025年市场正常化的预期推动其股价周三微涨1.6%。邦吉首席执行官格雷格·赫克曼在分析师电话会议中表示："2025年充满贸易政策与中美摩擦的不确定性，我们预计新一年将恢复常态化的市场流动。"
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