Bunge Global gains after smaller-than-expected drop in Q2 profit

Shares of U.S. grain trader and processor Bunge Global BG.N rise 1.2% to $77.22 premarket

Company reports smaller-than-expected profit drop in Q2, on improved oilseed processing margins and better results from its grains and oil merchandizing business

The core agribusiness segment saw an adjusted profit fall of 22% while net sales dropped 5.1% to $9.17 billion in Q2 from a year earlier

BG beat Q2 profit estimates as the grain trader benefited from a recovery in processing margins

BG posts adjusted profit of $1.31 per share vs estimate of $1.14 per share - data compiled by LSEG

As of last close, BG down 1.8% YTD