Milling & Baking News - January 20, 2004 - (Page 1)

Theinewsweeklyiofigrain-basedifoods / JANUARY 20, 2004 U.S.D.A. lowers 2004 wheat carryover to 559 million bus SUMMER 2003 Apeachy way to start the day Starting the day off with fruit has become an American tradition. Now that day just got a little more interesting with Tree Top's new specialty-cut, lowmoisture apples colored and flavored with natural peach. "This new innovative apple ingredient enhances cereals because its unusual piece identity looks more random-giving the consumer the impression that the cereal is "homemade," said Debbie Flores, food technician at Tree Top's Ingredient Division. "These apple pieces can be puffed low-moisture or evaporated-and are prepared from quality Washington state apples that have been washed, peeled, cored, - continued on back We want to see you in Chicago IFT - stop by our booth #3329 Story on Page 21 Bake-Line Group files bankruptcy, shutters manufacturing plants OAKBROOK TERRACE, ILL. - BakeLine Group L.L.C., one of the nation's largest suppliers of private label cookies, crackers, ice cream cones and organic salty snacks, along with affiliates Atlantic Baking Group, Inc.; Bake-Line Holdings, L.L.C.; and J.A. Real Properties, L.L.C., filed for Chapter 7 voluntary bankruptcy liquidation Jan. 12. In line with the move, Bake-Line said it will cease operations at all of its manufacturing plants and corporate headquarters. "The company has been in restructuring negotiations to reorganize its cookie and cracker business," Bake-Line said. "After the unexpected development of not being able to secure sufficient financing from its principal lender, the company is ceasing operations at all of its manufacturing plants and corporate headquarters." Headquartered in Oakbrook Terrace, Continued on Page 9 WASHINGTON - The Economic Research rent year, to 84 million bus. Service of the U.S. Department of Agricul"Projected exports are 25 million bus ture on Jan. 12 lowered by 24 million bus its above last month because of increased forecast for the carryover of wheat on June world import demand and the strong 1, 2004. At 559 million bus, the projected pace of exports to date," said the E.R.S. in carryover was up 68 million bus, or 14%, Continued on Page 19 from 491 million bus in 2003 and compared with 777 million bus in 2002. The decrease in the carryover forecast resulted from a 25million-bu upward revision in the E.R.S. projection for 2003-04 U.S. wheat exports, to 1,125 million bus. That increase overwhelmed the minor impact of a 1-million-bu decrease in projected seed use Growers last fall planted about 2 million fewer acres to winter wheat of wheat in the cur- than had been thought by the grain trade. See story on Page 18. China purchases more than 1 million tonnes of U.S. wheat WASHINGTON - The U.S. Department of Agriculture's announcement on Jan. 13 that China had purchased 1.04 million tonnes of U.S. wheat appeared to confirm widely circulating speculation regarding China's expanding grain import needs. While China does not officially report crop production and grain stocks, it has been clear for some time that consumption has outpaced production and that wheat stocks have been drawn down, according to Dawn Forsythe, a spokeswoman for the U.S. Wheat Associates. The sale by private exporters consisted of 670,000 tonnes soft red winter wheat and 70,000 tonnes of white wheat, both inside THIS WEEK Carbohydrate 'awareness' cuts AIPC quarter sales 11 NAMA in food aid mission to Ethiopia 14 for delivery in the 2004-05 marketing year, which begins June 1, and 300,000 tonnes soft red winter for delivery in 2003-04. Wheat futures markets reacted with "buy the rumor, sell the fact," closing lower the day of the announcement. Word of the sale came the day after a slew of U.S.D.A. reports sent wheat, corn and soybean futures sharply higher. Export sales of more than 100,000 tonnes have a 24-hour window to be reported to the U.S.D.A. But some traders said the news had been well anticipated in markets. Expectations of stepped-up demand from China have contributed to a rally of more Continued on Page 34 Warburtons to rebuild plant hit by arson 32 Ingredient Week 35

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Milling & Baking News - January 20, 2004