Risk of surging grain prices, including corn
First written in FY2016. 16 of 42 entries say "Worsened", first in FY2017-Q2. Latest entry: 2026-11-10.
Nichiwa Sangyo moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2022: 128 of 168 companies on the "Worse" side.
52 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Corn prices subsequently turned lower on expectations of a bumper crop in the United States, but began trending higher due to soaring transportation costs amid heightened tensions in the Middle East and other factors. Soybean meal, a secondary ingredient, had also been trending lower on expectations of a bumper soybean crop, but prices have risen in response to demand in China and heightened tensions in the Middle East.」
Corn and soybean meal prices initially trended lower before rising on Chinese demand, heightened tensions in the Middle East, and other factors, with upward pressure on ingredient markets cited again. - FY2026-H1MitigatedAnnual report
「In the compound feed industry, corn, the primary ingredient, has remained soft on expectations of bumper crops in the United States and South America. Soybean meal, a secondary ingredient, has also declined on expectations of a bumper soybean crop.」
Both corn and soybean meal prices have been soft or declining on expectations of bumper crops, reducing upward pressure on ingredient markets from the previous fiscal year's pattern of rising corn prices and soft soybean meal prices. - FY2025Corn prices higher while soybean meal prices remain softAnnual report
「In the compound feed industry, corn, the primary ingredient, had temporarily declined on expectations of a bumper crop in the United States but rose from September onward due to concerns about dry conditions in South America. Soybean meal, a secondary ingredient, rose due to deteriorating weather in Brazil, but remained soft as soybean growing conditions in the United States were favorable and weather in South America improved.」
Corn prices rose from September after a temporary decline, while soybean meal prices softened after rising, resulting in divergent trends by ingredient. - FY2025-H1MitigatedAnnual report
「In the compound feed industry, corn, the primary ingredient, rose temporarily due to planting delays caused by adverse weather in the United States and other factors, but began to stabilize as weather improved in July. Soybean meal, a secondary ingredient, also rose temporarily due to flooding in South America, but began to stabilize as weather improved in the United States.」
The report states that both corn and soybean meal prices rose temporarily due to weather-related factors before stabilizing as weather conditions improved. - FY2024MitigatedAnnual report
「In the compound feed industry, corn, the primary ingredient, has been trending lower due to favorable planting progress in the United States and weak demand from China. Soybean meal, a secondary ingredient, had remained at elevated levels due to a poor soybean crop in Argentina and other factors, but prices have stabilized as weather improved toward year-end.」
Corn prices have been trending lower, while soybean meal prices have also begun to stabilize after remaining elevated, partially easing the upward pressure on ingredient markets from the previous fiscal year. - FY2024-Q3Corn prices lower while soybean meal prices remain elevatedAnnual report
「Corn, the primary ingredient, has been trending lower on bumper crops in the United States and Brazil. Soybean meal, a secondary ingredient, has remained at elevated levels due to lower US yields and a poor soybean crop in Argentina.」
Corn prices have been trending lower on bumper crops in the United States and Brazil, while soybean meal prices have remained elevated due to lower US yields and a poor crop in Argentina, resulting in divergent trends among ingredient markets. - FY2024-Q2MitigatedAnnual report
「In the compound feed industry, corn, the primary ingredient, has been trending lower on expectations of a bumper crop in Brazil and favorable planting progress in the United States. Soybean meal, a secondary ingredient, is also beginning to stabilize on the back of a bumper crop in Brazil, despite adverse weather in Argentina.」
Corn prices have been trending lower, while soybean meal prices are also beginning to stabilize against a backdrop of a bumper crop in Brazil, partially easing the upward pressure on ingredient markets that had continued from the previous fiscal year. - FY2024-Q1Corn prices lower while soybean meal prices remain elevatedAnnual report
「In the compound feed industry, corn, the primary ingredient, has been trending lower amid ongoing supply concerns stemming from Russia's invasion of Ukraine, as well as expectations of a bumper crop in Brazil and sluggish US exports. Soybean meal, a secondary ingredient, has remained at elevated levels due to adverse weather in Argentina.」
Corn prices have been trending lower on expectations of a bumper crop in Brazil and sluggish US exports, while soybean meal prices have remained elevated due to adverse weather in Argentina, resulting in divergent trends among ingredient markets. - FY2023RestatedAnnual report
「In the compound feed industry, corn, the primary ingredient, surged on supply concerns related to the situation in Ukraine and firm ethanol demand, among other factors, and remained at elevated levels amid additional concerns about lower production due to adverse weather in South America. Soybean meal, a secondary ingredient, also soared on concerns about poor soybean yields in South America.」
Corn prices remained sharply higher and at elevated levels throughout the fiscal year, while soybean meal prices also soared. The situation in Ukraine, demand, and weather and crop concerns are cited as upward drivers. - FY2023-Q3WorsenedAnnual report
「In the compound feed industry, corn, the primary ingredient, has remained at elevated levels amid ongoing supply concerns stemming from Russia's invasion of Ukraine and fears of lower production due to adverse weather in South America. Soybean meal, a secondary ingredient, has also soared on concerns about poor soybean yields in South America.」
Corn prices have remained high and soybean meal prices have also soared, with continued upward pressure on ingredient markets due to the situation in Ukraine and concerns over weather and crop conditions in South America. - FY2023-Q2WorsenedAnnual report
「In the compound feed industry, corn, the primary ingredient, has seen prices soar amid ongoing supply concerns stemming from Russia's invasion of Ukraine and fears of poor yields due to adverse weather in the United States. Soybean meal, a secondary ingredient, has also continued to rise in price, reflecting expectations of lower soybean production due to adverse weather.」
The report cites soaring corn prices, continued increases in soybean meal prices, supply concerns related to the situation in Ukraine, and adverse weather as upward drivers. - FY2023-Q1WorsenedAnnual report
「In the compound feed industry, corn prices continued to rise because of strong Chinese demand, increased ethanol demand and deteriorating conditions in Ukraine. Soybean meal prices remained firm because of high soybean prices.」
Corn prices continue to rise, while soybean meal is also holding firm against a backdrop of soaring soybean prices, intensifying upward pressure on grain and feed ingredient markets. - FY2022WorsenedAnnual report
「In the compound feed industry, corn prices continued to rise because of strong Chinese demand, increased ethanol demand and deteriorating conditions in Ukraine. Soybean meal prices also surged, as did corn prices, amid increased soybean exports to China and demand for oilseed crushing.」
In addition to the continued rise in corn prices, soybean meal prices surged, with deteriorating conditions in Ukraine, Chinese demand, ethanol demand and oilseed-crushing demand adding to the upward drivers. - FY2022-Q3WorsenedAnnual report
「In the compound feed industry, corn prices surged from the start of the period because of strong Chinese demand, then temporarily settled on expectations of a bumper US harvest before rising again because of increased ethanol demand and other factors. Soybean meal prices also fell as US planting progressed favourably, but rose again because of increased exports to China and other factors.」
Corn and soybean meal prices temporarily fell or settled because of a bumper US harvest and favourable planting conditions, then rose again against a backdrop of Chinese and ethanol demand and other factors. - FY2022-Q2MitigatedAnnual report
「In the compound feed industry, corn prices had surged because of strong Chinese demand and lower production resulting from adverse weather in South America, but fell in September to around the level at the start of the period on expectations of a bumper US harvest. Soybean meal prices had also continued to rise, as had corn prices, but declined from June as planting in the United States progressed favourably, falling below the level at the start of the period in September.」
Both corn and soybean meal prices fell after rising, with corn prices around the level at the start of the period and soybean meal prices below that level. - FY2022-Q1MitigatedAnnual report
「In the compound feed industry, corn prices had continued to rise because of strong Chinese demand and lower production resulting from planting delays in South America, but are beginning to settle on expectations of a bumper US harvest. Soybean meal prices had also continued to rise, as did corn prices, but are beginning to fall on expectations of a bumper US soybean harvest.」
After rising, both corn and soybean meal prices are beginning to settle on expectations of a bumper US harvest, partially easing the upward pressure seen at the end of the previous fiscal year. - FY2021WorsenedAnnual report
「In the compound feed industry, corn prices had remained soft amid concerns about a slowdown in economic activity resulting from the global spread of COVID-19, but rose in the second half because of strong Chinese demand and lower production caused by planting delays in South America. Soybean meal prices also continued to rise, as did corn prices.」
Corn prices rose in the second half against a backdrop of Chinese demand and planting delays in South America, while soybean meal prices also continued to rise, and upward pressure on raw material prices persisted and strengthened. - FY2021-Q3WorsenedAnnual report
「In the compound feed industry, corn prices fell temporarily because of the economic slowdown caused by COVID-19 and expectations of a bumper US harvest, but rose as US production estimates were revised down because of high temperatures and drought and as Chinese purchases exceeded the previous year's pace. Soybean meal prices also continued to rise for the same reasons as corn.」
Corn prices rose after a temporary decline, and soybean meal prices also continued to rise. Upward pressure on raw material prices has strengthened from the previous quarter. - FY2021-Q2WorsenedAnnual report
「In the compound feed industry, corn prices fell because of the global economic slowdown caused by the spread of COVID-19, but rose temporarily amid concerns about reduced planted area and weather conditions in the United States. Soybean meal prices rose amid weather concerns in the United States and increased demand in China.」
Corn prices rose temporarily after falling, while soybean meal prices rose against a backdrop of weather concerns and increased Chinese demand, confirming factors driving increases and fluctuations in raw material prices. - FY2021-Q1MitigatedAnnual report
「In the compound feed industry, corn prices fell because lower US ethanol demand caused by COVID-19 and the global economic slowdown reduced demand for corn. Soybean meal prices also fell because of lower demand resulting from African swine fever in China and the economic slowdown caused by COVID-19.」
Both corn and soybean meal prices fell, reducing the upward and elevated pressure on raw material prices seen in the previous fiscal year during the current quarter. However, the risk of price fluctuations itself continues. - FY2020RestatedAnnual report
「In the compound feed industry, planting of corn, the main raw material, was significantly delayed by heavy rain in the United States, causing prices to surge temporarily, but prices settled following a bumper harvest in South America. Soybean meal prices remained soft because of bumper harvests in the United States and South America despite the impact of US-China trade tensions.」
Corn prices settled after a temporary surge, while soybean meal prices remained soft. The risk of fluctuations in grain prices itself continues. - FY2020-Q3MitigatedAnnual report
「In the compound feed industry, South American corn benefited from a bumper harvest, while US corn rose temporarily because of heavy rain but stabilised in the third quarter after the harvest came in around the average. Soybean meal prices became unstable because of US-China trade tensions and planting delays caused by heavy rain, but subsequently stabilised, as did corn prices.」
Corn and soybean meal prices rose temporarily and became unstable, but subsequently stabilised, according to the filing. - FY2020-Q2MitigatedAnnual report
「In the compound feed industry, corn prices remained soft amid increased South American production and expectations of a bumper harvest, but surged as heavy rain in the United States significantly delayed planting before settling as weather conditions recovered. Soybean meal prices fell as China's imports declined because of US-China trade tensions, but rose as soybean planting was delayed, as with corn, before settling after weather conditions recovered.」
Corn and soybean meal prices rose temporarily because of weather factors but subsequently settled as weather conditions recovered. Short-term upward pressure on raw material prices has eased from the previous quarter. - FY2020-Q1WorsenedAnnual report
「Prices for US corn, the main raw material, remained soft amid increased South American planted area and expectations of a bumper harvest, but surged as heavy rain in the United States from late May significantly delayed planting. Prices for soybean meal, a secondary raw material, remained soft as US-China trade tensions and African swine fever reduced Chinese demand for soybeans, but rose under the impact of heavy rain in the United States.」
Corn prices surged because heavy rain in the United States delayed planting, while soybean meal prices also rose because of the heavy rain, strengthening upward pressure on raw material prices. - FY2019WorsenedAnnual report
「In the compound feed industry, US corn, the main raw material, remained expensive because of the poor harvest of South American corn. Soybean meal, a secondary raw material, also remained expensive because of trade tensions between China and the United States.」
Following stable corn prices and firm soybean meal prices in the previous year, both corn and soybean meal prices have remained high. - FY2019-Q3RestatedAnnual report
「In the compound feed industry, US corn, the main raw material, fell temporarily on expectations of a bumper harvest but remained firm amid concerns about harvest delays. Prices for domestic soybean meal, a secondary raw material, also remained soft after US soybean prices weakened because of US-China trade tensions.」
Corn prices strengthened after a temporary decline, while soybean meal prices remained soft, and the risk of fluctuations in raw material prices continues. - FY2019-Q2RestatedAnnual report
「In the compound feed industry, corn prices remained firm because of lower production caused by drought in South America and increased demand for US corn. Soybean meal prices, a secondary raw material, also remained firm as US-China trade tensions increased demand for South American soybeans.」
Prices for both corn and soybean meal remained firm, and upward pressure on raw material prices continued. - FY2019-Q1WorsenedAnnual report
「In the compound feed industry, US corn, the main raw material, remained expensive amid concerns about lower production in South America. Soybean meal, a secondary raw material, also rose temporarily because of concerns about lower South American soybean production and US-China trade tensions. The yen weakened against the US dollar under the impact of US interest-rate hikes. Ocean freight rates remained firm.」
Corn prices remained high, while soybean meal prices also rose temporarily against a backdrop of concerns about lower production and US-China trade tensions, strengthening upward pressure on raw material prices. - FY2018RestatedAnnual report
「In the feed industry, prices for US corn, the main raw material, rose temporarily amid concerns about crop conditions caused by high temperatures and drought, but subsequently remained stable as the harvest exceeded expectations. Although soybean meal, a secondary raw material, was soft in North America as planted area increased, prices remained generally firm in South America because of expected lower production.」
Corn prices stabilised after a temporary rise, while soybean meal prices remained firm due to regional factors, and the filing continues to describe the risk of fluctuations in grain prices. - FY2018-Q3RestatedAnnual report
「In the compound feed industry, prices for US corn, the main raw material, rose temporarily amid concerns about crop deterioration but remained soft as supply and demand prospects improved. Prices for soybean meal, a secondary raw material, were also soft. Ocean freight rates remained firm.」
Corn and soybean meal prices remained soft, and the lower level of upward pressure on raw material prices from the previous quarter has continued. Ocean freight rates, however, remain firm. - FY2018-Q2MitigatedAnnual report
「In the compound feed industry, prices for US corn, the main raw material, rose temporarily amid concerns about crop deterioration caused by drought and other adverse weather conditions, but subsequently remained soft as weather conditions recovered. Prices for soybean meal, a secondary raw material, were also soft as planting progressed favourably. Ocean freight rates remained firm.」
Corn prices softened after a temporary rise, and soybean meal prices also remained soft, reducing upward pressure on raw material prices from the previous quarter. Ocean freight rates, however, remain firm. - FY2018-Q1RestatedAnnual report
「In the compound feed industry, prices for US corn, the main raw material, remained stable. Prices for soybean meal, a secondary raw material, rose. Ocean freight rates also rose.」
Corn prices remain stable, while soybean meal prices and ocean freight rates have risen, and the filing continues to describe the risk of fluctuations in raw material prices. - FY2017Annual trend in grain pricesAnnual report
「US corn, the main raw material, rose temporarily amid concerns about drought caused by high temperatures, but subsequently remained stable following a bumper harvest. Although the United States had a bumper soybean harvest, prices for soybean meal, a secondary raw material, remained firm because of the poor harvest in South America.」
Corn prices stabilised after a temporary rise, while soybean meal prices remained firm, with the risk of fluctuations in raw material prices emerging through different factors. - FY2017-Q3MitigatedAnnual report
「In the compound feed industry, prices for US corn, the main raw material, fell as favourable weather led to a bumper harvest. Prices for soybean meal, a secondary raw material, also fell because a bumper US harvest offset the poor harvest in Brazil.」
Prices for US corn and soybean meal both fell, temporarily easing the upward pressure on raw material prices seen in the previous quarter. However, the risk of price fluctuations remains. - FY2017-Q2WorsenedAnnual report
「In the compound feed industry, prices for US corn, the main raw material, rose temporarily amid concerns about poor harvests caused by high temperatures and drought. Prices for soybean meal, a secondary raw material, rose because of poor harvests in South America.」
US corn, which had been stable in the previous quarter, also rose temporarily, while soybean meal prices rose, broadening the factors driving increases in raw material prices. - FY2017-Q1RestatedAnnual report
「In the compound feed industry, prices for US corn, the main raw material, remained stable. Soybean meal prices rose. Ocean freight rates also rose.」
Corn prices were stable, while soybean meal prices and ocean freight rates rose, and the risk of fluctuations in raw material prices remains. - FY2016First statedAnnual report
「The purchase prices of corn and other commodities, which account for most of the raw materials used in compound feed, are based on the Chicago grain market in the United States. Grain prices fluctuate depending on planting conditions and weather in the United States, a major production region. An unforeseen surge in grain prices could affect the operating results of the Group.」
The filing describes the risk that grain prices, which account for most of the raw materials, may fluctuate depending on planting conditions and weather in the United States.