SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

WELLS WILLIAM

(Last)

(First)

(Middle)

C/O BUNGE LTD.

50 MAIN STREET

(Street)

WHITE PLAINS

10606

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Bunge LTD [ BG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CFO - Bunge Ltd.

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/13/2007		M		26,961	A	$15.875	45,781	D
Common Stock	02/13/2007		M		40,000	A	$16	85,781	D
Common Stock	02/13/2007		M		20,401	A	$18.875	106,182	D
Common Stock	02/13/2007		M		45,000	A	$21.61	151,182	D
Common Stock	02/13/2007		M		37,000	A	$25.22	188,182	D
Common Stock	02/13/2007		M		24,667	A	$37.08	212,849	D
Common Stock	02/13/2007		M		7,334	A	$52.66	220,183	D
Common Stock	02/13/2007		S		37,800	D	$79.61	182,383	D
Common Stock	02/13/2007		S		1,000	D	$79.6115	181,383	D
Common Stock	02/13/2007		S		1,000	D	$79.6155	180,383	D
Common Stock	02/13/2007		S		6,700	D	$79.62	173,683	D
Common Stock	02/13/2007		S		7,600	D	$79.63	166,083	D
Common Stock	02/13/2007		S		2,400	D	$79.6368	163,683	D
Common Stock	02/13/2007		S		100	D	$79.6384	163,583	D
Common Stock	02/13/2007		S		7,400	D	$79.64	156,183	D
Common Stock	02/13/2007		S		2,800	D	$79.6415	153,383	D
Common Stock	02/13/2007		S		16,720	D	$79.65	136,663	D
Common Stock	02/13/2007		S		2,300	D	$79.655	134,363	D
Common Stock	02/13/2007		S		34,163	D	$79.66	100,200	D
Common Stock	02/13/2007		S		1,900	D	$79.661	98,300	D
Common Stock	02/13/2007		S		1,600	D	$79.6621	96,700	D
Common Stock	02/13/2007		S		1,700	D	$79.6628	95,000	D
Common Stock	02/13/2007		S		20,680	D	$79.67	74,320	D
Common Stock	02/13/2007		S		2,200	D	$79.6714	72,120	D
Common Stock	02/13/2007		S		16,500	D	$79.68	55,620	D
Common Stock	02/13/2007		S		600	D	$79.69	55,020	D
Common Stock	02/13/2007		S		2,000	D	$79.6944	53,020	D
Common Stock	02/13/2007		S		900	D	$79.7	52,120	D
Common Stock	02/13/2007		S		8,920	D	$79.71	43,200	D
Common Stock	02/13/2007		S		100	D	$79.7173	43,100	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	02/13/2007		I			73,592.6039	⁽²⁾	⁽²⁾	Common Stock	22,066.69	$24.1	0	D
Stock Options (Right to Buy)	$15.875	02/13/2007		M			29,961	⁽³⁾	05/01/2011	Common Stock	29,961	$0	0	D
Stock Options (Right to Buy)	$16	02/13/2007		M			40,000	⁽³⁾	05/01/2010	Common Stock	40,000	$0	0	D
Stock Options (Right to Buy)	$18.875	02/13/2007		M			20,401	⁽³⁾	05/01/2010	Common Stock	20,401	$0	0	D
Stock Options (Right to Buy)	$21.61	02/13/2007		M			45,000	⁽³⁾	05/24/2012	Common Stock	45,000	$0	0	D
Stock Options (Right to Buy)	$25.22	02/13/2007		M			37,000	⁽³⁾	03/13/2013	Common Stock	37,000	$0	0	D
Stock Options (Right to Buy)	$37.08	02/13/2007		M			24,667	⁽⁴⁾	03/11/2014	Common Stock	24,667	$0	12,333	D
Stock Options (Right to Buy)	$52.66	02/13/2007		M			7,334	⁽⁵⁾	02/24/2015	Common Stock	7,334	$0	14,666	D

Explanation of Responses:

1. Phantom stock units are issued under the Bunge Management Services Inc. ("BMSI") Deferred Compensation Plan for Certain Employees and are payable in cash upon settlement. The cash value delivered upon settlement is calculated by multiplying the number of phantom stock units by the fair market value of a phantom stock unit on the date of settlement. The fair market value of the phantom stock unit is based upon a conversion ratio that is approximately 3.3 phantom stock units per share, but the exact ratio will vary as a relatively small portion of the value of each phantom stock unit corresponds to such unit's pro rata portion of cash held in the plan.

2. The reporting person may transfer his phantom stock unit account into an alternative investment option at any time. The reporting person transferred his phantom stock units under the BMSI Deferred Compensation Plan to another investment option under the plan.

3. This option is immediately exercisable.

4. This option is exercisable in three equal annual installments beginning on March 11, 2005.

5. This option is exercisable in three equal annual installments beginning on February 25, 2006.

Remarks:

	/s/ Thomas F. Albert, Attorney-in-Fact	02/15/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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