Bunge hikes 2008 profit outlook above estimates

Chief Financial Officer Jacqualyn Fouse said she expects fundamentals to remain strong for the rest of the year.

"While growth in demand for some agricultural products may soften slightly due to the sustained period of high prices, agribusiness margins should be solid," Fouse said in a statement.

The company expects 2008 full-year earnings between $11.60 to $11.90 per share from the $9.35 to $9.65 per share expected previously.

Analysts polled by Thomson Financial expect $9.16 per share for the year.

Separately, Bunge's second-quarter profit soared on strong sales across all business segments, topping Wall Street expectations.

Shares of Bunge rose $5.83, or 5.9 percent, to $105.14 in morning trading.