Milling & Baking News - August 9, 2011 - 8

Late News 

WEEK OF AUGUST 9

Continued from Page 1

U.S. Wheat Associates, on the basis of 377 samples taken during the harvest, said the average grade of 2011 soft red winter wheat was No. 2, the same as in 2010. Test weight averaged 58.9 lbs per bu (58.4 lbs last year); protein averaged 10.2% (10.3%), and falling number averaged 330 seconds (334).

Foods Share Index was not without serious casualties for the day, most notably Ralcorp Holdings, which closed at $75.50, down 10%. Corn Products Holdings closed at $45.56, also down 10%. While trading in each of the 21 U.S. companies in the index ended with a decline for Aug. 4, a couple companies escaped relatively unscathed, beginning with Kraft Foods Inc., at $33.78, down 52c, or 1.5%. Before the market opened, Kraft announced plans to split up into two separate publicly traded companies.

broadening of the agreement in “anticipation of continued demand for wheat, feed grains, oilseeds and byproducts into Asia.” TEMCO was established in 1992 as a general partnership between CHS and Continental Grain Co.

Einstein earnings ease 13% in quarter
LAKEWOOD, COLO. — Earnings at Einstein Noah Restaurant Group, Inc. dipped 13% in the second quarter, while revenues rose 0.2%. Net income in the period ended June 28 was $3,080,000, equal to 18c per share on the common stock, down from $3,556,000, or 22c per share, in the second quarter of fiscal 2010. Revenues rose narrowly to $103,677,000 from $103,473,000. System-wide comparable store sales also increased 0.2%, reflecting strong growth in check driven by moderate pricing, favorable mix shift and strength in catering sales offset by lower comparable transactions as the company rolled over its Free Bagel Friday promotion last year.

Consumers aware of ﬁber, whole grain beneﬁts
WASHINGTON — Nearly four out of five consumers (79%) said they were aware of fiber’s digestive health benefits, according to the 2011 IFIC Functional Foods/Foods for Health Survey released Aug. 4 by the Washington-based International Food Information Council. Another 58% said they were aware of whole grains’ digestive health benefits. For reduced risk of heart disease, 68% said they were aware of the benefits of folate or folic acid. Sixty-three per cent said they were aware of the benefits of folate or folic acid in reducing the risk of neural tube birth defects. For reduced risk of cancer, benefit awareness was 53% for soy protein/soy.

Ukraine to create world grain reserve
KYIV, UKRAINE — Ukraine has initiated the creation of the world’s grain reserve under the auspices of the United Nations, said Mykola Prysyazhnyuk, the minister of agrarian policy and food for Ukraine. Ukraine would have the responsibility of forming the reserve of 10 million to 12 million tonnes of grain. He said the reserve would be used to regulate world prices through market interventions in times of low grain supply. The world grain reserve also would be aimed at enhancing food security of the global population. Ukraine expects to harvest more than 40 million tonnes of grain in 2011. In early August the crop was 36% larger than the amount of the crop harvested by August of 2010. MBN
bakingbusiness.com / world-grain.com

CHS, Cargill export j.v. may expand scope of TEMCO
MINNEAPOLIS — Cargill and CHS Inc. on Aug. 4 said the two companies were in discussions to expand their TEMCO L.L.C. joint venture to include other export assets owned by the two companies. Currently TEMCO is a 50-50 joint venture operating an export facility in Tacoma, Wash., focused on exports of corn, soybeans and sorghum to the Asia Pacific. The company said the venture “has been successful” prompting consideration of a

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8 / August 9, 2011 Milling & Baking News

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Milling & Baking News - August 9, 2011

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