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Wholesale turkey prices across the United States have risen 12% this year, according to Fox Business. A New Jersey farm, DiPaola Turkey Farms, raised its price by 30 cents per pound as feed costs for corn and soybeans rose 10-12%.
Higher corn and soybean costs are feeding through to poultry producers' margins, and turkey prices are passing that pressure to consumers. For feed buyers, it signals firm demand for feed grains from the turkey sector.
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Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.