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 $8.00 per bushel by mid-August, an increase of nearly $3.00 per bushel since mid-June, or about a 60 percent increase in about two months. Similarly, CBOT soybean meal prices have increased by nearly $200.00 per ton in recent months, and are now over $500.00 per ton. Corn and soybean meal are important feed ingredients for all segments of the livestock industry. [ read more ... ]