The corn and soybean meal market prices have responded to the current U.S. drought with dramatic market increases. Chicago Board of Trade (CBOT) December corn futures prices rose to over $8/bu. by mid-August, an increase of nearly $3/bu. since mid-June, or about a 60% increase in about two months. Similarly, CBOT soybean meal prices have increased by nearly $200/ton in recent months, and are now over $500/ton. Corn and soybean meal are important feed ingredients for all segments of the livestock industry....
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