The Associated Press
WASHINGTON — Shares of poultry producers rose sharply on Jan. 12 as corn prices plunged.
Corn is one of the most expensive ingredients for chicken feed, and one of the biggest costs of production for companies like Tyson Foods Inc.
Poultry producers have been squeezed in recent years by rising corn prices. Companies can't always pass on the higher cost of grain, because consumer demand is relatively weak. That means the companies have to accept thinner profit margins.
The price of corn fell after the government said corn supplies were higher than traders expected. Investors had bid. . .
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