Milling & Baking News - October 23, 2007 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS OCTOBER 23, 2007 / FEATURE Orlando Baking Expo draws high marks from industry leadership A whole new approach Formulating with whole grains may be challenging, but mastering these products may help ride the wave of a successful trend. Story on Page 39 LATE NEWS No wheat in Syngenta gene stacking pact RALEIGH, N.C. - Syngenta Biotechnology Inc. has entered into a research and commercial license agreement for a proprietary gene stacking technology developed by Chromatin Inc. Under the agreement, Syngenta has non-exclusive rights to use the technology for trait genes in corn and soybeans, but the pact does not include wheat. The technology allows a plant's own DNA to deliver several genes on a mini-chromosome. Daphne Preuss, president and chief scientific officer of Chromatin, described Syngenta as "an ideal partner" because of the company's Continued on Page 8 ORLANDO, FLA. - Baking industry professionals gathered in Orlando Oct. 710 to investigate the latest innovations in equipment, ingredients and labeling at the International Baking Industry Exposition, or Baking Expo 2007. The show, the first ever to be held in Orlando, drew 650 industry supplier firms, 15,000 registrants, and positive critical reviews from industry leaders. More than a dozen companies held management meetings in conjunction with the show to account for 300 top management executives being in Orlando, added Rich Hoskins III, I.B.I.E. committee vice-chairman and president of Colborne Corp., Lake Forest, Ill. Hiring a new public relations firm, Marketing Design Group, San Diego, to promote the show provided dividends, said Jack Lewis Jr., I.B.I.E. committee chairman and president of Lewis Brothers Bakeries, Evansville, Ind. Robb MacKie, president and chief executive officer of the American Bakers Association, hailed the show as a great achievement for the I.B.I.E. committee. I.B.I.E. is produced by the A.B.A. together with BEMA. "I think it was a very successful show," Mr. MacKie said. "It was a different venue, so there was anxiousness ahead of time about how this Expo show was going to play out. But every exhibitor I talked to said it was terrific. They experienced quality traffic - serious customers who were there to look and buy. We had exhibitors who said that in the first day alone, they exceeded the number of leads that they developed in the entire show in 2004. "From the bakers' perspective, they Continued on Page 28 Wheat futures prices decline more than $1per bu, but now what? KANSAS CITY - Prices of December wheat futures the past two weeks tumbled from all-time highs set on Sept. 28 in Chicago and on Oct. 1 in Kansas City and Minneapolis. But even after the declines, prices remained historically strong and were more than $3 a bu higher than a year ago. Firm opinions on market direction were hard to find. Market volatility was seen as persisting, with prices edging up- ward last week after the wide losses. The task of wheat and flour buyers remained fraught with risk. The Chicago December future traded down to $8.10 on Tuesday, Oct. 16, which was off $1.52¾ from the all-time high of $9.61¾. The K.C. December contract traded to $8.25 a bu, down $1.25½ from the high of $9.50½. And the Minneapolis December future traded as low as $8.27 a bu, down $1.04 from the high of $9.31. "One reason for the break in wheat futures is world importers went from covering needs to hoarding wheat. And that is going to depress future demand," said Robert Bresnahan, president, Trilateral Inc., Chicago. "A second factor is pure economics. Higher Continued on Page 10

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Milling & Baking News - October 23, 2007