Why Bunge Share Are Surging Today

• Bunge Ltd (NYSE: BG) is set to replace Signature Bank (NASDAQ: SBNY) in the S&P 500 effective prior to the opening of trading on Wednesday, March 15. 

• The Federal Deposit Insurance Corporation (FDIC) has taken Signature Bank into FDIC Receivership, and therefore Signature Bank is no longer eligible for inclusion.

• Also Read: What is the FDIC? And Why Is It Related To SVB, Signature Bank Collapses?

• Corteva Inc (NYSE: CTVA), Bunge and Chevron U.S.A. Inc, a subsidiary of Chevron Corporation (NYSE: CVX), are collaborating to introduce proprietary winter canola hybrids that produce plant-based oil with a lower carbon profile.

• The goal is to increase the availability of vegetable oil feedstocks primarily for the growing domestic renewable fuels market.

• The companies plan to introduce the winter canola crop into the southern U.S. to create a new revenue prospect for farmers with a sustainable crop rotation.

• Price Action: BG shares are trading higher by 9.42% at $100.00 in premarket on the last check Tuesday.

• Photo Via Company

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