Corn futures hit an all-time high on Friday after the U.S. government slashed its estimates on the size of the crop.
The U.S. Department of Agriculture, in its first survey-based report detailing damage from the worst U.S. drought in 56 years, cut corn production in the United States by 17 percent and domestic and export demand by 12 percent.
With yield at its worst in 6 years, where are the CNBC's Fast Money pros putting money to work? Ironically some of the pros thinks the play is long meat producers. That may seem counter-intuitive considering livestock are fed corn.
But trader Josh Brown says Tyson belongs on your radar. Get all the details in the video here.
Posted by CNBC's Lee Brodie
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Trader disclosure: On August 10, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long FIO; Pete Najarian is long UPL CALLS; Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TG; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long FRO; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long XLU
For Brian Nagel
A member of the household of an Oppenheimer & Co. Inc. research analyst who covers this company has a long position in JCP.
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Nothing to Disclose
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Pivotal Research Group LLC is an independent equity research company and is neither a broker dealer nor offers investment banking services. Pivotal Research Group LLC is not a market maker for any securities, does not hold any securities positions, and does not seek compensation for investment banking services. The analyst preparing this report does not own any securities of the subject company and does not receive any compensation directly or indirectly from investment banking services
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Steve Weiss is short JCP
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Mike Murphy is long MANU
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