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Commodity Play: 'Big Food' Stock

How are American food producers coping with soaring commodity prices?

Wachovia Securities analyst Jonathan Feeney says that's easy: They're passing along the prices to the consumer, and letting the consumer do the coping. That puts some major food producers and their stocks in a pretty good position.

"It's the consumer feeling it in prices right now," Feeney told CNBC.

"Retailers are healthy, and for the moment, these packaged-food manufacturers have done a great job passing these prices through and delivering earnings."

So who's doing the best job, and where should an investor put his "food money"?

"General Mills is...my top pick of the U.S. big-caps right now," he said. "They have great innovation, great topline growth, and...pricing power."

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