Milling & Baking News - June 14, 2011 - (Page 20)

Data  Great Plains resulted in higher forecasted yields,” the U.S.D.A. said. “Forecasted head counts from the objective yield survey in the six hard red winter states are below last year’s level in all states except Oklahoma. “Wet conditions in Ohio lowered yield expectations from last month. If realized, yield in North Carolina will be a new record high and the Michigan yield will equal the record high. Forecasted head counts from the objective yield survey in the three soft red winter states (Illinois, Missouri and Ohio) are all above last year’s levels.” Durum production in Arizona and California was forecast at 23.5 million bus, up 1% from May and up 14% from 2010. FBN Wheat carryover forecast for 2012 lowered to 687 million bus WASHINGTON — Carryover of U.S. wheat on June 1, 2012, was forecast at 687 million bus, down 15 million bus, or 2%, from the initial projection in May of 702 million bus and down 122 million bus, or 15%, from a lower revised 809 million bus in 2011, the U.S. Department of Agriculture said in today’s World Agricultural Supply and Demand Estimates. Estimates for 2010-11 were revised from May with imports reduced 10 million bus, to 100 million bus, and exports raised 20 million bus, to 2,475 million bus, resulting in carryover on June 1, 2011, at 976 million bus, down 30 million bus, or 4%, from May and down 274 million bus, or 28%, from 976 million bus in 2010. Domestic use numbers were unchanged from May for both 2010-11 and 2011-12. U.S.D.A. carryover numbers were above the average of trade expectations of 669 million bus for 2011-12 but were below the average of 842 million bus for 2010-11. For 2011-12, total supply was projected at 2,977 million bus, down 15 million bus from May and down 307 million bus, or 9%, from 3,284 million bus last year. All wheat production in 2011 was projected at 2,058 million bus, up 15 million bus from May but down 150 million bus, or 7%, from 2,208 million bus in 2010. “The winter wheat production forecast is raised 26 million bus with higher forecast yields for hard red winter, soft red winter and soft white winter wheat,” the U.S.D.A. said. “Partly offsetting is a projected 11-million-bu reduction for durum and other spring wheat production as seedings are projected 290,000 acres lower. Flooding and persistent wet soils have delayed planting in North Dakota and Montana well beyond the normal planting window.” Total wheat use in 2011-12 was unchanged from May at 2,290 million bus, down 185 million bus, or 7%, from 2,475 million bus in 2010-11. Current year exports were projected at 1,050 million bus, down 245 million bus, or 19%, from 1,295 million bus in 2010-11. Domestic use was projected at 1,240 million bus, up 60 million bus from 2010-11, including food use at 945 million bus, up 15 million bus, seed use at 75 million bus, down 5 million bus, and feed and residual at 220 million bus, up 50 million bus. “The 2011-12 season-average farm price for all wheat is projected at a record $7@8.40 per bu, up 20c on both ends of the range (from May, reflecting both tighter domestic supplies and higher expected corn prices),” the U.S.D.A. said. The 2010-11 average price was estimated at $5.70 a bu, up 5c from May and up 83c from $4.87 a bu in 2009-10. Carryover estimates were revised for all 2010-11 wheat-byclass numbers. Hard red winter wheat carryover was projected at 330 million bus, up 5 million bus from May, soft red winter at 158 million bus, down 6 million bus, hard spring at 204 million bus, down 16 million bus, white wheat at 78 million 20 / June 14, 2011 Milling & Baking News /

Table of Contents for the Digital Edition of Milling & Baking News - June 14, 2011

‘Grain chain’ gives unanimous support for MyPlate
Canadian government targets C.W.B. monopoly on wheat marketing
MacLennan named president of Cargill
Celebrations may be premature for bakery fl our buyers
Editorial - Last hope for Doha Round not becoming non-Round
Wayne Turnbull reopens New Orleans bakery
General Mills adds Fiber One 90-Calorie Brownies
Packaged snacks sales reach $64 billion
Nestle joins project of food, genes
G.F.F.: One-ounce servings key to balanced meals
Oldways director offers mixed review of MyPlate
Stimulus boost for SNAP helps avert diminished food security
Smucker full-year profi t falls 3% on restructuring, acquisition costs
Debate likely to rage on, but HFCS demand seen stabilizing in U.S.
Kellogg sets 2010 to the side, looks forward to better 2011
Analyst: Nestle ‘unlikely’ to acquire General Mills
Grain Processing investing $100 million in emission reduction projects
Winter wheat crop forecast for 2011 up 2% from May
Wheat carryover forecast for 2012 lowered to 687 million bus
High fuel prices push shipping costs up; weather slows Upper Midwest rail traffi c
Canadian government targets C.W.B. monopoly on wheat marketing
Irish Pride launches bread with omega-3 fatty acids
Acquisitions help drive revenue gains at Aryzta in quarter
F.A.O. sees no respite from grain price strength and volatility
Gonnella offering scholarship to attend AIB
Paul Ridder named president of Tasty; Charles Pizzi to remain as adviser to Flowers
Chris Delaney named c.e.o. of Goodman Fielder
Bob Klima joins Caravan as business development manager
Fruit powder provides vitamins, fiber
Non-dairy ingredient achieves pareve certification
Products focus on noodle production
Trademark signifi es sustainable palm oil
Enzyme concentrate enhances baking properties of flour
U.S.D.A. raises forecast for 2011-12 world wheat ending stocks
Ingredient Market Trends
Ingredient Week
Marketplace Business Network
Ad Index

Milling & Baking News - June 14, 2011