IBIE, special edition & show preview -- 2013 - (Page 80)

From tight supplies and high prices to abundance and falling prices, commodities lead bakers down a … Long and Winding Road by Jay Sjerven, Ron Sterk and Laura Lloyd, Milling & Baking News Editor’s Note: As bakers head into IBIE 2013, the high cost of commodities continues to top their lists of major concerns. This report from Milling & Baking News’ market editors summarizes the current state of affairs and offers insight into what bakers can expect in the upcoming year. Supplies of most key grains and oilseeds were expected to be adequate to ample this year compared with 2012, while prices were forecast to decline or remain low relative to the past couple of years that saw record high values for some. For other ingredients, prospects Tight market conditions complicated by drought created a “perfect storm” for the baker’s commodity ingredients, but conditions are changing for the better, with a ray of sunshine in the outlook. 80 / SPECIAL EDITION / IBIE 2013 were mixed. In the first half of 2013, US sugar prices fell to multi-year lows due to surplus supplies, and weak chocolate demand pushed cocoa powder prices to two-year lows. Production of milk and dairy products as well as eggs and egg products were expected to increase as the result of lower feed prices. At the same time, demand for dairy and egg products was predicted to improve. On the rebound In early May, the US Department of Agriculture (USDA) projected record large US corn and soybean production for 2013 and record large world wheat production for the 2013-14 marketing year, which began June 1. Although old-crop corn and soybean supplies have been tight and prices have been high due largely to the drought of 2012, supplies for the 2013-14 marketing year, which began Sept. 1, will be significantly higher, assuming the weather cooperates in 2013. Consequently, new-crop prices are expected to decline from oldcrop levels, which were reflected in lower new-crop futures prices for corn and soybeans for several months. Wheat was the exception, with lower 2013 production expect-

Table of Contents for the Digital Edition of IBIE, special edition & show preview -- 2013

IBIE, special edition & show preview -- 2013
Table of Contents
IBIE Perspective - Amid challenges, opportunities persist
State of the Industry - Dizzying changes among baking’s leaders
A changing of the guard
Making Baking History - Progress on Parade
Capital Spending Survey - Making the safe bet
Survey reaches wide sample
IBIE Tech - Going Mobile
ABA Perspectives - Big changes since IBIE 2010
ABA: On the Front Lines
Keep on track with FTRAC
Let's Keep on Truckin'
An Ounce of Prevention
BEMA Initiatives - Collaborative Solutions
Critical Issue: FSMA - Predict & Prevent
Court orders FDA to step up its efforts
Food Safety: ANSI/ASB/Z50.2
Equipment Advances - Clean and Simple
Formulating R&D - Brave New World
Intel about ingredient trends
Critical Issue: Commodity Prices - Long and Winding Road
Ingredients: Creating Simple Labels - Simple Options
Critical Issue: Sodium Reduction - How Low Can You Go?
Ingredients: Ancient Grains - What's Old is New Again
New Product Trends: Baked Foods - Change Afoot
New Product Trends: Snacks - Reinventing Snack Time
Special Section: Bake
The Next Cupcake?
Ingredient Transparency
Food trucks on the move
New Tech Tools
IBIE 2013: A World of Possibilities
Ready to Launch
Pizza Popularity
Revel in Vegas
2013 Exhibitor List
Ad Index

IBIE, special edition & show preview -- 2013