Food Business News - July 25, 2017 - 50

INGREDIENT MARKETS

Bakery Flour
Business in bakery flour was limited
last week. Price adjustments were mixed.
Bakers earlier covered most of their
flour needs through September. Coverage
of the futures component of contracts
was nearly solid for the quarter. There
was some basis and millfeed coverage yet
to take before remaining contracts for the
quarter will be completed.
Millers noted several bakers during
the last couple of weeks have been more
aggressive in covering millfeed. This
marked a shift because millfeed credits
for several weeks had been the last contract component to be covered. Recently,
though, there has been a modest appreciation in millfeed pricing for the third
and fourth quarters, which encouraged
bakers to take the coverage. In contrast,
while cash hard red winter wheat premiums have weakened in recent weeks,
bakers haven't aggressively pursued
additional basis coverage. Millers attributed this to uncertainty over market

direction given recent volatility in both
futures and cash wheat markets.
Fourth-quarter flour coverage was
estimated at 35% to 40%. Coverage was
slightly more extensive in spring grades
and soft flour than in pan bread flour,
according to one miller.
Bakers in consultations with millers
were determining just how low a protein
in flour they could accept given their
products. While pockets of protein have
been uncovered, producers were expected to harvest their second consecutive
low-protein crop. Millers cautioned that
bakers should expect to have to increase
the percentage of spring wheat in blends.
This will be a pricey even if unavoidable proposition given the wide spread
between Minneapolis and K.C. futures.
Some wheat futures coverage into
the first and second quarters of 2018 was
taken last week as some bakers sought
protection against possible further advances in wheat futures.
Mill grind was a firm six days at most

No. 1 hard amber durum

Bakery flour
Bulk, f.o.b. car, $ per cwt
Kansas City
Bakers short patent
Bakers standard patent
Minneapolis
Spring short patent
Spring standard patent
High gluten
Whole wheat
Specialty whole wheat
Fancy spring clear
First spring clear
Rye, white
Chicago
Cracker
Fancy cake
New York
Winter/spring blend
Spring standard patent
High gluten
Fancy cake
Rye, white
Los Angeles
Bakers standard patent
Pastry

- Change from - Year
July 21 July 14 July 7 ago
15.95
15.85

-0.30
-0.30

-2.05
-2.05

12.75
12.65

20.20
20.10
23.10
20.10
20.45
19.95
19.85
14.55

0.05
0.05
0.05
0.05
0.05
0.05
0.05
-

-0.45
-0.45
-0.45
-0.45
-0.45
-0.45
-0.45
-

12.95
12.85
15.85
12.85
13.20
12.70
12.60
16.30

13.35
14.85

-0.30
-0.30

-0.85
-0.85

11.85
13.35

18.35
22.50
25.50
16.85
17.05

-0.30
-
-
-0.30
-

-2.05
-0.50
-0.50
-0.85
-

15.15
15.20
18.20
15.35
18.80

20.95
21.00

-0.30
-0.30

-2.05
-2.05

17.85
17.90

Track, Chicago
$ per bu
Choice milling 13%

- Change from - Year
July 14 July 7
ago
+.60 +2.00
8.25

Bakers standard, Kansas City
Bulk, f.o.b. car, $ per cwt

$19.00
$17.00
$15.00
$13.00
$11.00

J

O

J

A

Spring Standard, Minneapolis
$22.00
$20.00
$18.00
$16.00
$14.00
$12.00
J

O

J

A

Cracker flour, Chicago

Semolina
Bulk, f.o.b. Minneapolis,
- Change from -
$ per cwt
July 21 July 14
July 7
Semolina
28.40 +1.50
+3.75
Granulars
28.20 +1.50
+3.75
Flour
28.10 +1.50
+3.75
Semolina - N.Y.
31.60 +1.50
+3.75

July 21
11.50

$17.50

Year
ago
20.15
19.95
19.85
22.95

$15.50
$13.50
$11.50

Nationally advertised family flour
Dollars
8-5s
50

July 21
18.52
Food Business News

$9.50

Year ago
18.52

J

O

J
Previous Year

A
Current Year

locations last week, with individual mills
running seven days in some regions. FBN

Family Flour
Sales of national and regional
brands of family flour were seasonally
sluggish. Carlot list prices were unchanged.
Sales were near their annual nadir,
and home bakers won't provide much of
a boost to the market until the beginning
of the 2017-18 school year and the approach of the fall baking season. FBN

Semolina
Bookings of semolina, granulars
and durum flour were limited last week.
Prices were raised as cash durum prices
continued to rise.
The price of choice milling hard
amber durum as quoted for the Chicago
gateway for delivery beyond was a nominal $11.50 a bu, up 60c from the previous
week. There were quotes both higher and
lower than that level. While consensus
on where to peg the price was lacking,
there was agreement the market has
firmed considerably in the past couple of
weeks, and prices may continue to rise in
view of the toll drought conditions across
northern Plains growing areas may take
on durum yields and production.
Growers and elevators were reluctant to sell durum given the uncertainty
over new crop prospects, and millers
were reluctant to sell significant forward
semolina coverage without having an
idea of what they'll be paying for durum
in the next several weeks and months.
Pasta manufacturers already have
covered nearly all of their semolina
requirements through September. Semolina coverage in October-December was
estimated at about 60% to 65%.
North Dakota durum was 84%
headed by July 16 compared with 69%
as the recent five-year average for the
date. The crop's condition was rated
24% good to excellent (32% a week
earlier), 38% fair (35%) and 38% poor to
very poor (33%). Montana durum was
rated 7% good to excellent (4% a week
earlier), 36% fair (31%) and 57% poor to
very poor (65%). FBN
July 25, 2017



Table of Contents for the Digital Edition of Food Business News - July 25, 2017

BUSINESS -- E-commerce: Laying the foundation for a digital future
CONTENTS
WEB CONTENTS
FROM THE EDITOR -- IFT17 highlights worrying industry cross currents
NEWS -- McCormick to acquire Reckitt Benckiser’s food business
NEWS -- Ramon Laguarta promoted to president at PepsiCo
NEWS -- Diester to succeed at helm of Russell Stover Chocolates
NEWS -- Transformation accelerating for Conagra Brands
NEWS -- Subway testing refreshed design, gluten-free bread
NEWS -- PepsiCo preparing for change and redefi ning growth
NEWS -- Kroger suing Lidl for trademark infringement
NEWS -- Campbell Soup to acquire organic soup maker
MARKET INSIGHT -- Crop conditions continue to drive grain, oilseed prices
WASHINGTON -- Trump administration outlines objectives for NAFTA renegotiation
INGREDIENT TRENDS -- Slaughter-free meat?
INGREDIENT INNOVATIONS -- Spirulina may simplify quest for naturally sourced colors
BEVERAGE BUSINESS NEWS -- Meal in a bottle
NEW FOOD PRODUCTS -- Maxwell House launches MAX line
NEW FOOD PRODUCTS -- Chobani charges into classic yogurt category
NEW FOOD PRODUCTS -- GU Energy Labs off ers toasted marshmallow energy gel
NEW FOOD PRODUCTS -- Trio of new fl avors join Enjoy Life’s chewy bars line
NEW FOOD PRODUCTS -- Unilever unveils vegan, organic I Can’t Believe It’s Not Butter! products
NEW FOOD PRODUCTS -- Zoup! introduces chicken broth for retail
NEW FOOD PRODUCTS -- Dry Sparkling introduces watermelon variety
NEW FOOD PRODUCTS -- Thomas’ Swirl Bread adds blueberry pancake fl avor
NEW FOOD PRODUCTS -- Dunkin’ Donuts fl avor debuts from Oreo
NEW FOOD PRODUCTS -- Hostess pairs peanut butter and chocolate in new Twinkies variety
INGREDIENT MARKET TRENDS -- Trudeau addresses U.S. governors on importance of NAFTA
INGREDIENT MARKETS
SUPPLIER INNOVATIONS -- Lesaff re’s organic nutritional yeast now certifi ed gluten-free
SUPPLIER INNOVATIONS -- Blue California commercializes Gamma-Decalactone
SUPPLIER INNOVATIONS -- Prova launches line of allergen-free nut fl avors
SUPPLIER INNOVATIONS -- PureCircle introduces stevia antioxidant product for food, beverages
SUPPLIER INNOVATIONS -- Agropur restructures ingredients business
SUPPLIER INNOVATIONS -- Prinova to acquire Lycored’s U.K., China premix operations
CLASSIFIEDS
MARKETPLACE
AD INDEX
FOOD BUSINESS IN THE NEWS
FROM THE ARCHIVE - A DECADE OF INSIGHT
Food Business News - July 25, 2017 - BUSINESS -- E-commerce: Laying the foundation for a digital future
Food Business News - July 25, 2017 - 2
Food Business News - July 25, 2017 - 3
Food Business News - July 25, 2017 - CONTENTS
Food Business News - July 25, 2017 - 5
Food Business News - July 25, 2017 - WEB CONTENTS
Food Business News - July 25, 2017 - 7
Food Business News - July 25, 2017 - 8
Food Business News - July 25, 2017 - FROM THE EDITOR -- IFT17 highlights worrying industry cross currents
Food Business News - July 25, 2017 - NEWS -- McCormick to acquire Reckitt Benckiser’s food business
Food Business News - July 25, 2017 - 11
Food Business News - July 25, 2017 - 12
Food Business News - July 25, 2017 - 13
Food Business News - July 25, 2017 - 14
Food Business News - July 25, 2017 - 15
Food Business News - July 25, 2017 - NEWS -- Diester to succeed at helm of Russell Stover Chocolates
Food Business News - July 25, 2017 - 17
Food Business News - July 25, 2017 - NEWS -- Transformation accelerating for Conagra Brands
Food Business News - July 25, 2017 - 19
Food Business News - July 25, 2017 - NEWS -- Subway testing refreshed design, gluten-free bread
Food Business News - July 25, 2017 - 21
Food Business News - July 25, 2017 - NEWS -- PepsiCo preparing for change and redefi ning growth
Food Business News - July 25, 2017 - 23
Food Business News - July 25, 2017 - 24
Food Business News - July 25, 2017 - NEWS -- Kroger suing Lidl for trademark infringement
Food Business News - July 25, 2017 - NEWS -- Campbell Soup to acquire organic soup maker
Food Business News - July 25, 2017 - MARKET INSIGHT -- Crop conditions continue to drive grain, oilseed prices
Food Business News - July 25, 2017 - WASHINGTON -- Trump administration outlines objectives for NAFTA renegotiation
Food Business News - July 25, 2017 - 29
Food Business News - July 25, 2017 - INGREDIENT TRENDS -- Slaughter-free meat?
Food Business News - July 25, 2017 - 31
Food Business News - July 25, 2017 - 32
Food Business News - July 25, 2017 - 33
Food Business News - July 25, 2017 - INGREDIENT INNOVATIONS -- Spirulina may simplify quest for naturally sourced colors
Food Business News - July 25, 2017 - 35
Food Business News - July 25, 2017 - 36
Food Business News - July 25, 2017 - 37
Food Business News - July 25, 2017 - BEVERAGE BUSINESS NEWS -- Meal in a bottle
Food Business News - July 25, 2017 - 39
Food Business News - July 25, 2017 - 40
Food Business News - July 25, 2017 - 41
Food Business News - July 25, 2017 - NEW FOOD PRODUCTS -- Trio of new fl avors join Enjoy Life’s chewy bars line
Food Business News - July 25, 2017 - NEW FOOD PRODUCTS -- Zoup! introduces chicken broth for retail
Food Business News - July 25, 2017 - NEW FOOD PRODUCTS -- Hostess pairs peanut butter and chocolate in new Twinkies variety
Food Business News - July 25, 2017 - INGREDIENT MARKET TRENDS -- Trudeau addresses U.S. governors on importance of NAFTA
Food Business News - July 25, 2017 - INGREDIENT MARKETS
Food Business News - July 25, 2017 - 47
Food Business News - July 25, 2017 - 48
Food Business News - July 25, 2017 - 49
Food Business News - July 25, 2017 - 50
Food Business News - July 25, 2017 - 51
Food Business News - July 25, 2017 - 52
Food Business News - July 25, 2017 - 53
Food Business News - July 25, 2017 - 54
Food Business News - July 25, 2017 - 55
Food Business News - July 25, 2017 - SUPPLIER INNOVATIONS -- Prova launches line of allergen-free nut fl avors
Food Business News - July 25, 2017 - SUPPLIER INNOVATIONS -- Prinova to acquire Lycored’s U.K., China premix operations
Food Business News - July 25, 2017 - CLASSIFIEDS
Food Business News - July 25, 2017 - MARKETPLACE
Food Business News - July 25, 2017 - 60
Food Business News - July 25, 2017 - AD INDEX
Food Business News - July 25, 2017 - FROM THE ARCHIVE - A DECADE OF INSIGHT
Food Business News - July 25, 2017 - 63
Food Business News - July 25, 2017 - 64
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