Milling & Baking News - November 13, 2012 - (Page 49)

Ingredient Market Trends Weekly Spotlight U.S.D.A. raises forecasts for U.S. and world 2012-13 wheat ending stocks T Indexes Saltine Cracker Ingredients Bagel Ingredients 300 270 240 210 180 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Price Indicators 2 3 THIS LAST WEEKS WEEKS WEEK WEEK AGO AGO Pan-bread flour Wheat futures, K.C., Dec. Hard winter premiums, 12.2% protein Millfeed, K.C., 30-day Soybean oil Cane sugar Cocoa 49 / July 3, 2007 Milling & Baking / News he U.S. Department of Agriculture on Nov. 9 raised its forecasts for 2012-13 U.S. and world wheat ending stocks. The trade had expected a smaller increase in the forecast for the U.S. 2013 wheat carryover, and the increase in the world wheat ending stocks forecast was unexpected. In response, wheat futures prices dropped during the week’s final session but still finished the week with solid gains. The U.S.D.A. forecast the carryover of wheat in the United States on June 1, 2013, at 704 million bus, up 50 million bus from its October projection, on a lower export forecast. The 2012 U.S. wheat carryover was 743 million bus. The U.S.D.A. forecast U.S. wheat exports in 2012-13 at 1,100 million bus, down 50 million bus from the October outlook but up 50 million bus from the 2011-12 outgo. The hard winter wheat export forecast was lowered 25 million bus from October, to 520 million bus, and the soft red winter wheat export forecast was lowered 25 million bus, to 145 million bus. The U.S.D.A., in commentary accompanying the supplyand-demand data, said, “Exports are projected 50 million bus lower reflecting the slow pace of sales and shipments, and an outlook for increased foreign competition.” Other supply-and-demand data for U.S. wheat in the current year were unchanged from October. Wheat supplies in 2012-13 were forecast at 3,142 million bus, up 6% from 2,974 million bus in 2011-12. Domestic use of wheat in 2012-13 was forecast at 1,338 million bus, up 13% from 1,182 million bus in the previous year. The U.S.D.A. forecast 2012-13 world wheat ending stocks at 174.18 million tonnes, up 1.18 million tonnes from the October projection but down 12% from 197.89 million tonnes in 2011-12. World wheat production was forecast at 651.43 million tonnes, down 1.62 million tonnes from the October outlook and down 6% from a record 696.06 million tonnes in 2011-12. Minor increases in production estimates for the European Union, North Africa and Pakistan failed to offset a 2-milliontonne decline in the Australian crop forecast to 21 million tonnes. World wheat consumption in 2012-13 was forecast at 675.14 million tonnes, down 3.08 million tonnes from the October projection and down 3% from a record 696.12 million tonnes in 2011-12. The decrease in wheat disappearance mostly was attributed to a drop of 2.53 million tonnes in the forecast use of wheat for feed in the E.U., Russia, Ukraine, South Korea and India. World wheat exports in 2012-13 were forecast at 132.69 million tonnes, up 1.82 million tonnes from the October projection but down 16% from 156.26 million tonnes in 2011-12. A 1.5-milliontonne drop in projected Australian wheat exports in the current year to 16.5 million tonnes and a 1.36-million-tonne drop in forecast U.S. wheat exports, to 29.94 million tonnes, were more than offset by increases for other nations. Of particular note were a 1-milliontonne increase in the export forecast for Russia, to 10 million tonnes, and a 2-million-tonne increase in the outlook for Ukrainian wheat exports to 6 million tonnes. MBN / Milling & Baking News November 13, 2012 / 49

Table of Contents for the Digital Edition of Milling & Baking News - November 13, 2012

Milling & Baking News - November 13, 2012
Change agent at General Mills, NAMA chairman celebrates ‘noble’ industry
Countering higher input costs, B.B.U. to raise prices in November
Late News - Flat Flowers earnings after one-time charge
Table of Contents
News/Comment - Lack of focus on farm issues likely to change
Editorial - Many milling positives in tough environment
Late News
Data - January-September flour output reaches new record high
Financial Results - Mondelez earnings down 29% in third quarter, sales fall 2%
Oreo, belVita buoy biscuit business at Mondelez
CSM B.S.N.A. unit performs well in tough market
Morning foods wake up at Kellogg
Industry Activities - Millers in ‘deep dive’ exploring possible vitamin D fortification
Meyer elected vice-chair of NAMA; two honorary memberships named
Merchandising - Winners in America’s Best Raisin Bread Contest crowned
Business - Bakers look to resume operations in wake of Hurricane Sandy
Flowers acquiring Bimbo assets in California, Oklahoma
With Wisconsin project, Horizon doubling whole wheat capacity
Baker’s Pride opens new donut plant
Wind farm built to supply power to Bimbo in Mexico begins operating
Strikes may be looming at Hostess Brands baking plants
Mondelez to close Mr. Christie cookie plant in Toronto
Red Star, Lesaffre to raise yeast prices
ADM opens sweetener transfer terminal in Chattanooga
Nutrition and Health - Whole Grain Stamp success spans participating companies of all sizes
Food Ingredient Solutions - Indulge in extras
Milling Technology - ADM Milling expanding Beech Grove flour mill
The Andersons agrees to major grain facility acquisition
Gavilon opens grain facility in South Dakota
POET-DSM buys equipment for cellulose production
Washington - Breaking Washington gridlock
Weather Outlook - In marked change, world weather pattern transitioning to ‘normal
Washington - Elections may bring little change to Senate ag committee
Farm bill fate uncertain in lame duck session of Congress
U.S.D.A. offers assistance to hurricane victims
People - With Cargill c.f.o. resignation, David MacLennan to fill in
Brad Pederson named supply chain manager at Caravan Ingredients
ADM taps two for management positions
Transportation and Distribution - N.G.F.A. seeks easier path to contest ‘unreasonable’ rail rates
Nutrition and Health - Initiative shows gains in nutrition content in children’s cereal
Ingredient Market Trends - U.S.D.A. raises forecasts for U.S. and world 2012-13 wheat ending stocks
Supplier Innovations
Marketplace Business Network
Ad Index

Milling & Baking News - November 13, 2012