date:Jul 17, 2012
s are being bought is because feed is primarily made of corn, said Mark Sebastian, chief operating officer at Chicago-based consulting firm OptionPit. It is going to have a big negative effect on costs and crush [company] earnings.
U.S. corn futures traded sharply higher Monday amid continued worries about widespread drought shrinking the size of the U.S. crop. Prices on futures for September delivery settled up 4.9% at $7.77 a bushel, adding 41% over the past three weeks.
High temperatures and