Food companies don't mind lower corn prices

|By:, SA News Editor

A sharp drop in corn prices could filter down to help give a little lift to the bottom lines of a number of food companies.

Tyson Foods (TSN +0.4%), Pilgrims Pride <<PPC>, and Hormel (HRL +0.6%) are three of the companies that could benefit the most if hedging strategies don't get in the way.

Raw material cost could turn lower for cereal makers Kellogg (K -0.1%), General Mills (GIS), and Post Holdings (POST -0.7%).

Soda sellers Coca-Cola (KO -0.5%), PepsiCo (PEP -0.3%), and Dr. Pepper Snapple (DPS -0.3%) won't mind the news either.