Food Business News - March 22, 2016 - (Page 45)

INGREDIENTMARKETTRENDS In The Spotlight At A Glance Millers forecast soft red winter wheat crop at 362 million bus Crude oil futures per barrel $70 $60 $50 panel of soft wheat millers addressing the annual Division Meetings of the North American Millers' Association at St. Pete Beach, Fla., on March 15 forecast 2016 soft red winter wheat production to rise 1% from 2015 and soft white winter wheat production to increase 19%. The panel forecast the 2016 soft red winter wheat crop at 362,126,000 bus, up 3,071,000 bus, or 1%, from 359,055,000 bus in 2015. Millers noted the crop in most key northern growing regions was planted under optimal conditions and has emerged early and in promising shape. By region, soft red winter wheat production was forecast to jump 25% from 2015 in key Central states (Indiana, Michigan, Ohio, West Virginia and Wisconsin) with larger crops expected in all states except Michigan, and increase 5% in the Mid-Atlantic states (Delaware, Maryland, New Jersey, New York and Pennsylvania) with increases indicated for all states. But production in 2016 was forecast to decrease 4% from 2015 in the Midwest (Illinois, Missouri and Kentucky) with all states expected to turn out smaller crops. Production A was forecast 10% lower in the Southeast (Virginia, North Carolina and South Carolina) with the Carolinas forecast to harvest smaller crops but Virginia to see a production gain. Production in the Southwest, South and Delta states (Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Tennessee, Oklahoma and Texas) was forecast down 16% from 2015 with all states except Florida and Georgia expected to harvest less wheat than a year ago. The millers forecast 2016 soft white winter wheat production at 200,076,000 bus, up 31,770,000 bus, or 19%, from the 2015 outturn of 168,306,000 bus, with the Pacific Northwest states of Idaho, Oregon and Washington accounting for 92% of this year's total. Soft white winter wheat production included 183,171,000 bus forecast to be harvested in the Pacific Northwest, up 20% from last year, 16,428,000 bus in Michigan, up 22%, and 477,000 bus in the Mid-Atlantic states of New York and Pennsylvania, up 3%. The Milling & Baking News March 29 issue will present a complete report on the millers' forecasts. FBN $40 $30 $20 Mar. May 2015 July Sept. Nov. Jan. 2016 Mar. Beef cutout value prices per cwt $300 $250 $200 $150 Mar. May 2015 July Sept. Nov. Source: U.S. Department of Agriculture Jan. 2016 Mar. Ingredient Indexes h i Cheese Pizza Commodity Trends Shortening prices cents per lb 43 Frozen Apple Pie Canola oil, Midwest 38 33 28 Palm oil, ports Soybean oil, Decatur 23 45 Mar. 2015 May FOODBUSINESS NEWS July ® Sept. Nov. Jan. 2016 Mar. March 22, 2016

Table of Contents for the Digital Edition of Food Business News - March 22, 2016

Food Business News - March 22, 2016
Chipotle continues to struggle
G.M.O. labeling: Back to the drawing board?
Dairy Business News - Picking the right fruits, nuts and seeds
Table of Contents
Web Contents
Editorial - Food industry faces challenges as obesity rate rises
General Mills invests in organic cottage cheese maker
Natural Products Expo West - When big companies buy small brands
Alexia Foods homes in on hot potato trends
What’s popping at Angie’s Boomchickapop
Four trends driving growth in organic
Kraft Heinz impressing investors
Wal-Mart revamping fresh food strategy
Target focused on the fundamentals of fresh
Science, safety and seaweed
Market Insight - Wheat, corn, soybeans: Which one will lead?
Flavor Trends - Beyond sriracha
Ingredient Innovations - Reducing the ‘ates’ in meat applications
New Food Products
Ingredient Market Trends - Millers forecast soft red winter wheat crop at 362 million bus
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - March 22, 2016