General Mills' Profit Perspective

Forbes offered a sneak peek at General Mills' profit outlook today. Higher input costs have caused General Mills to raise prices.

But what's interesting to note is that price hikes are much higher than increased costs:

"Higher retail prices have, so far, helped keep profits safe from the higher costs. In the company's third quarter, profit jumped 61 percent, helped by far higher price"

Seems to us that all the fuss about about biofuels is really a concerted distraction over much higher food hikes to drive profits higher.

Source: Forbes

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