Bunge Global beats Wall Street estimates for third-quarter profit with the acquisition of Viterra boosting volumes and improving margins in oilseed processing. Strong South American soybean exports and decreased demand from China due to trade tensions also contributed to the positive results.

Despite global crop supplies and slumping margins, Bunge’s adjusted profit of $2.27 per share exceeded analysts’ expectations for the third quarter. Rival Archer-Daniels-Midland lowered its profit outlook due to trade and policy uncertainty affecting demand and margins.

The merger with Glencore-backed Viterra in July strengthened Bunge’s crop marketing and soy processing business in Argentina. The soybean processing segment saw a 67% gain in profit, while the softseed processing unit more than doubled its profit.

Bunge’s grain merchandising and milling division saw a 56% increase in profit, driven by higher wheat milling and ocean freight earnings. Bunge shares were down 1.5% in premarket trading following the earnings report.

Read more at Yahoo Finance: Bunge beats profit estimates on strong processing margins, Viterra boost