Agricultural processor Bunge Ltd’s third-quarter net profit slipped on charges but it said it was on track to meet or exceed its full-year target amid rising revenue and improving oilseed processing margins.

Bunge reported a third-quarter net profit of $212 million, or $1.36 per share, compared with a net profit of $232 million, or $1.62 per share, a year earlier.

Excluding one-time items, Bunge’s net profit was $2.26 per share, above the average analyst view of $1.57 per share, according to Thomson Reuters I/B/E/S.

Revenue rose to $11.66 billion, up from $11.3 billion in the same quarter a year ago, but short of the analyst outlook for $12.48 billion.

Bunge held its full-year earnings guidance unchanged at $3.25 to $3.50 per share after cutting guidance in each of the previous two quarters, but the company said it expected a strong fourth quarter, so it could meet or exceed that target.

Increased grain and oilseed supplies from the advancing U.S. harvest will benefit Bunge’s agribusinesses, along with strong global demand for grain after a severe drought slashed production in Russia and the Black Sea region, said Interim Chief Financial Officer Drew Burke.

Improving oilseed processing margins and stronger demand for soymeal in Europe and fertilizer in South America added to the company’s optimistic view.