It’s not just cattle feeders and ethanol manufacturers who are feeling the pain from the recent sharp rise in crop prices. Top manufacturers of goods that line grocery store shelves and meat counters have also been reeling of late as their share prices slump on the back of the dramatic surge in key production inputs.

Pork giant Smithfield Foods, chicken producer Tyson Foods and breakfast food maker Kellogg Co have all suffered steep share price declines lately on worries that each firm will have trouble passing on the steeply higher input and ingredient costs to consumers amid the prevailing uncertain economy. But the alternative to raising prices is to reduce production, so corn bulls need to be on the lookout for demand erosion in corn among grocery store giants as well as at the more closely followed cattle feed yards and ethanol mills.