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Provided by Dow Jones By Jacob Bunge Soaring crop prices are changing fortunes for the biggest U.S. agricultural companies, delivering windfalls for grain trading giants while saddling meat producers with sharply higher costs. Executives at Tyson Foods Inc. and Pilgrim s Pride Corp. said rising grain costs this year would pressure their chicken businesses, and could lead to increased prices for consumers. Costlier feed, typically the priciest part of raising a bird, comes as meatpackers are spending hundreds of millions of dollars on Covid-19 safety measures. The change in pricing in grains has been nothing less than enormous, and that is going to weigh on the business, said Stewart Glendinning, Tyson s chief financial officer, on a Thursday conference call. The grain market rally led Tyson, the biggest U.S. meat company by sales, to project lower results from its core chicken business this year, after in November forecasting an improvement.

United statesStewart glendinningRoger watchornGreg heckmanJacob bungeFabio sandriPilgrim pride corpCargill incUs census bureauBunge ltdGroup incDow jones company incArcher daniels midland coExecutives at tyson foods incTyson foodsChief executive fabio