I said APPROXIMATELY and I didn't specify "corn-soy"!  Dry grain feed conversion varies depending upon several factors, which includes (by not limited to) the percentage of grain to other feed ingested, which grains are in the dry grain mix, whether that feed is whole or ground, and what other foods are ingested.   Grains (seeds) and legumes (also a seed) contain phytic acid, enzyme inhibitors, tannins, and hard-to-digest proteins that have an anti-nutrient roll.  Seeds were created with these items as a protective device to help them survive until conditions are right for them to sprout and grow into mature plants.  This is GREAT for the seeds and their continued proliferation, however, it's not so great for people or animals that attempt to use them as a main food source as they 
deplete our systems of nutrients that are vital to health.The fermentation process uses naturally occurring bacteria to partially break down the food, improving its enzyme content and increasing its levels of vitamins B, C and K. It also makes food MORE digestible, and boosts the "usable" protein level by about 12 percent.
 
With all of that in mind, dry grain feeds seldom exceed 35% digestibility and fermented feeds increase that digestibility to 75% or more (also based on several factors) - THAT IS WHY THERE IS FAR MORE MANURE FROM DRY GRAIN FEEDS then from fermented feeds.
 
While sprouting, fermenting, or even just overnight soaking of seeds/grains reduces their anti-nutrient properties making them more available for digestion and use by the body
, lacto-fermenting provides another set of benefits.  In the book,
 Real Food Fermentation by Alex Lewin, the author states,  "...
 beyond simply maintaining the vitamin content of raw foods, the process of fermentation can actually create new vitamins, specifically B vitamins and Vitamin K2 , as well as some types of enzymes."  
(Emphasis added)  These additional nutrients are part of the benefit and byproduct of 
lactic acid bacteria working in the fermentation process. 
 
The other benefits to using fermented feed:
- Feed consumption and waste will drop by 1/2 to 3/4 (this will save you money)
 
- Poultry on a diet of fermented feed are generally healthier and less likely to contract disease
 
- There is almost zero waste as chickens don't scratch through it, kicking it out of the feeder
 
- Stools become more solid and many people report less smell in the coop and run!
 
- Egg yolks of eggs laid by hens on fermented feed will become noticeably larger, and shells will be more solid.
 
  
Fermented feed has the same benefit for humans, as in cheese, yogurt, sourdough bread, wine, beer, kimchi or sauerkraut (just to name a few).