Pilgrim's Pride Corp (PPC)

[chmcnfunds]

"Corn jumped to a three-week high after a government report showed global inventories will drop more than expected as the worst U.S. drought in more than 50 years cuts output by the most since 1996.
Worldwide inventories on Oct. 1 will be 117.27 million metric tons, down from 123.95 million predicted a month ago and 131.54 million estimated this year, the U.S. Department of Agriculture said. Reserves as a percent of consumption will fall to 13.7 percent, the lowest since 1974. Stockpiles in the U.S., the largest grower and exporter, will fall 37 percent to 15.73 million tons from last year.
Corn futures for December delivery rose 5 percent to $7.7325 a bushel on the Chicago Board of Trade. Earlier, the price reached $7.76, the highest for a most-active contract since Sept. 17."
_________________________________________________________
http://www.bloomberg.com/news/2012-10-11/corn-jumps-as-global-inventories-shrink-commodities-at-close.html

PPC