{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$1.40 vs. cons ~$1.22",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total segment operating profit (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$1.05B vs. cons ~$0.96B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "AS&O / Crushing operating profit (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$430M AS&O (Crush ~+$180M vs. Q1 -$79M) vs. cons ~$390M",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.15-$4.70 (mid $4.43) maintained vs. cons ~$4.50 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "H2 2026 outlook / crush margin cadence",
      "prediction": "LOWER",
      "answer": "guide H2 ~51% split (~$2.25 implied) vs. cons ~$2.35 (H2 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Nutrition FY operating profit / 45Z benefit",
      "prediction": "BETTER",
      "answer": "guide 45Z ~$150M vs. prior ~$100M, Nutrition FY up vs. cons ~flat (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.0,
  "day5_path": "FADE",
  "day5_rationale": "The Q2 beat is largely mechanical (~$0.45 of well-telegraphed mark-to-market reversal in Crushing) rather than a structural margin inflection. With shares +32% YTD, an ~11% pre-print fade signaling nervous positioning, and management likely maintaining (not raising) the $4.15-$4.70 range while flagging an inverted forward crush curve, higher H2 tax rate, and uncertain China soybean flows, the out-period math implies a soft H2. A 'low-quality beat + no raise + cautious 2H' setup drives a sell-the-news reaction that follows through as estimates get trimmed on the second-half caution.",
  "day5_confidence": "LOW"
}