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Commodities Briefing - Categorized | Agriculture, Regulatory more

USDA projects lower corn, soybean harvests

Posted on 11 November 2008

From Boston.com: The Agriculture Department on Monday lowered its forecasts for this year’s U.S. corn and soybean harvests, pushing up the prices of both commodities while knocking down the shares of meat producers.

Chicken, pork and beef companies such as Smithfield Foods Inc., Tyson Foods Inc. and Hormel Foods Corp. use corn and soybeans for livestock feed. Tyson said Monday its chicken unit lost $91 million in its most recent quarter due to a $230 million increase in grain costs….. Full Article: Source


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