Milling & Baking News - July 29, 2008 - 1

THE NEWS WEEKLY OF GRAIN-BASED FOODS
JULY 29, 2008

bakingbusiness.com / foodbusinessnews.net

Wheat prices tumble from record
highs as harvest expands

Atkins-sponsored
weight-loss study favors
low-carbohydrate dieting
Story on Page 14

LATE NEWS

Bunge quarterly net
income up dramatically
WHITE PLAINS, N.Y. - Net income
of Bunge Ltd., in the second quarter ended June 30, was $751 million,
equal to $5.45 per share on the common stock, up 347% from $168 million, or $1.30 per share, in the second quarter last year. Net sales were
$14,365 million, up 73%. Gross profit
at Bunge more than doubled from
the second quarter last year in three
of the company's divisions - Agribusiness, up 183%, to $745 million;
Fertilizer, up 232%, to $521 million;
and Milling Products, up 122%, to $80
million. Second-quarter profits in the
company's remaining division, Edible Oil Products, climbed a "modest"
Continued on Page 10

KANSAS CITY - Wheat prices in the
last several weeks fell sharply from alltime highs as the expanding Northern
Hemisphere harvest bolstered forecasts
for a bumper crop
in the United States
and record world
wheat production
in 2008-09. While
wheat prices could
move yet lower
this summer, they
were likely to remain historically
high for the current year and perhaps for years to come because of relatively tight world stocks of wheat and
other basic agricultural commodities in
the face of rising demand.
The price of 12%-protein hard red
winter wheat in Kansas City (based on
the price of the basic K.C. wheat future
and the cash premium applying to 12%
protein) on July 18 was $8.86 a bu, down

from a mid-March high near $14. A year
earlier, the mid-July price of 12%-protein
hard red winter wheat was around $6.30
a bu, and in 2006, it was $5.39 a bu.
Price
movements in 14%-protein hard red
spring wheat in
Minneapolis were
even more dramatic. The price
dropped to $10.10
on July 18 from a
mid-March high
near $25 a bu. A
year earlier, in
mid-July 2007, 14%-protein hard red
spring wheat was trading near $6.55
a bu and in mid-July 2006 traded near
$5.64 a bu.
The cash price of soft red winter wheat
in St. Louis on July 18 was about $6.14
a bu (based on the Chicago September wheat future and local mill bids on
Continued on Page 21

Sara Lee to revise labeling on Soft & Smooth
Made with Whole Grain White Bread
DOWNERS GROVE, ILL. - Sara Lee
Bakery Group last week agreed to revise packaging on its Soft & Smooth
Made with Whole Grain White Bread
products by the end of the year, a
move that effectively ends a dispute
with the Center for Science in the Public Interest (C.S.P.I.) over allegations
that Sara Lee was misrepresenting the
healthfulness of the bread.

The action comes a little more than
seven months after the C.S.P.I. issued a
"notice of intent to sue" against Sara Lee
Corp. for what the organization called
an attempt "to put a whole grain halo
on a bread that is not whole wheat."
Sara Lee has adamantly denied the
allegations made by the C.S.P.I., saying the claims on the packaging accurately reflect the transitional nature
of the product, which is made from a
blend of 30% whole wheat flour and
70% enriched wheat flour.
"That name (Sara Lee Soft & Smooth
Made with Whole Grain White Bread)
was chosen while we were working with
the federal Food and Drug Administration," Sara Lee said in December. "We
Continued on Page 13


http://www.bakingbusiness.com http://www.foodbusinessnews.net

Milling & Baking News - July 29, 2008

Table of Contents for the Digital Edition of Milling & Baking News - July 29, 2008

Contents
Milling & Baking News - July 29, 2008 - 1
Milling & Baking News - July 29, 2008 - 2
Milling & Baking News - July 29, 2008 - 3
Milling & Baking News - July 29, 2008 - Contents
Milling & Baking News - July 29, 2008 - 5
Milling & Baking News - July 29, 2008 - 6
Milling & Baking News - July 29, 2008 - 7
Milling & Baking News - July 29, 2008 - 8
Milling & Baking News - July 29, 2008 - 9
Milling & Baking News - July 29, 2008 - 10
Milling & Baking News - July 29, 2008 - 11
Milling & Baking News - July 29, 2008 - 12
Milling & Baking News - July 29, 2008 - 13
Milling & Baking News - July 29, 2008 - 14
Milling & Baking News - July 29, 2008 - 15
Milling & Baking News - July 29, 2008 - 16
Milling & Baking News - July 29, 2008 - 17
Milling & Baking News - July 29, 2008 - 18
Milling & Baking News - July 29, 2008 - 19
Milling & Baking News - July 29, 2008 - 20
Milling & Baking News - July 29, 2008 - 21
Milling & Baking News - July 29, 2008 - 22
Milling & Baking News - July 29, 2008 - 23
Milling & Baking News - July 29, 2008 - 24
Milling & Baking News - July 29, 2008 - 25
Milling & Baking News - July 29, 2008 - 26
Milling & Baking News - July 29, 2008 - 27
Milling & Baking News - July 29, 2008 - 28
Milling & Baking News - July 29, 2008 - 29
Milling & Baking News - July 29, 2008 - 30
Milling & Baking News - July 29, 2008 - 31
Milling & Baking News - July 29, 2008 - 32
Milling & Baking News - July 29, 2008 - 33
Milling & Baking News - July 29, 2008 - 34
Milling & Baking News - July 29, 2008 - 35
Milling & Baking News - July 29, 2008 - 36
Milling & Baking News - July 29, 2008 - 37
Milling & Baking News - July 29, 2008 - 38
Milling & Baking News - July 29, 2008 - 39
Milling & Baking News - July 29, 2008 - 40
Milling & Baking News - July 29, 2008 - 41
Milling & Baking News - July 29, 2008 - 42
Milling & Baking News - July 29, 2008 - 43
Milling & Baking News - July 29, 2008 - 44
Milling & Baking News - July 29, 2008 - 45
Milling & Baking News - July 29, 2008 - 46
Milling & Baking News - July 29, 2008 - 47
Milling & Baking News - July 29, 2008 - 48
Milling & Baking News - July 29, 2008 - 49
Milling & Baking News - July 29, 2008 - 50
Milling & Baking News - July 29, 2008 - 51
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https://www.nxtbook.com/sosland/mbn/2015_11_24
https://www.nxtbook.com/sosland/mbn/2015_11_10
https://www.nxtbook.com/sosland/mbn/2015_10_27
https://www.nxtbook.com/sosland/mbn/2015_10_13
https://www.nxtbook.com/sosland/mbn/2015_09_29
https://www.nxtbook.com/sosland/mbn/2015_09_15
https://www.nxtbook.com/sosland/mbn/2015_09_01
https://www.nxtbook.com/sosland/mbn/2015_08_18
https://www.nxtbook.com/sosland/mbn/2015_08_04
https://www.nxtbook.com/sosland/mbn/2015_07_21
https://www.nxtbook.com/sosland/mbn/2015_07_07
https://www.nxtbook.com/sosland/mbn/2015_06_23
https://www.nxtbook.com/sosland/mbn/2015_06_09
https://www.nxtbook.com/sosland/mbn/2015_05_26
https://www.nxtbook.com/sosland/mbn/2015_05_12
https://www.nxtbook.com/sosland/mbn/2015_04_28
https://www.nxtbook.com/sosland/mbn/2015_04_014
https://www.nxtbook.com/sosland/mbn/2015_03_31
https://www.nxtbook.com/sosland/mbn/2015_03_17
https://www.nxtbook.com/sosland/mbn/mbn/2015_03__03
https://www.nxtbook.com/sosland/mbn/2015_02_17
https://www.nxtbook.com/sosland/mbn/2015_02_03
https://www.nxtbook.com/sosland/mbn/2015_01_20
https://www.nxtbook.com/sosland/mbn/2015_01_06
https://www.nxtbook.com/sosland/mbn/2014_12_23
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https://www.nxtbook.com/sosland/mbn/mbn_2014_11_25
https://www.nxtbook.com/sosland/mbn/2014_11_11
https://www.nxtbook.com/sosland/mbn/2014_10_28
https://www.nxtbook.com/sosland/mbn/2014_10_14
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https://www.nxtbook.com/sosland/mbn/2014_09_02
https://www.nxtbook.com/sosland/mbn/214_08_19
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https://www.nxtbook.com/sosland/mbn/2014_07_22
https://www.nxtbook.com/sosland/mbn/2014_07_08
https://www.nxtbook.com/sosland/mbn/2014_06_24
https://www.nxtbook.com/sosland/mbn/2014_06_10
https://www.nxtbook.com/sosland/mbn/2014_05_27
https://www.nxtbook.com/sosland/mbn/2014_05_13
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https://www.nxtbook.com/sosland/mbn/2014_03_18
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https://www.nxtbook.com/sosland/mbn/2014_01_21
https://www.nxtbook.com/sosland/mbn/2014_01_07
https://www.nxtbook.com/sosland/mbn/2013_12_24
https://www.nxtbook.com/sosland/mbn/2013_12_10
https://www.nxtbook.com/sosland/mbn/2013_11_26
https://www.nxtbook.com/sosland/mbn/2013_11_12
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https://www.nxtbook.com/sosland/mbn/2013_09_17
https://www.nxtbook.com/sosland/mbn/2013_09_03
https://www.nxtbook.com/sosland/mbn/2013_08_20
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https://www.nxtbook.com/sosland/mbn/2013_07_23
https://www.nxtbook.com/sosland/mbn/2013_07_09
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https://www.nxtbook.com/sosland/mbn/2013_05_28
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https://www.nxtbook.com/sosland/mbn/2013_03_19
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https://www.nxtbook.com/sosland/mbn/2013_02_19
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https://www.nxtbook.com/sosland/mbn/2013_01_22
https://www.nxtbook.com/sosland/mbn/2013_01_08
https://www.nxtbook.com/sosland/mbn/2012_12_25
https://www.nxtbook.com/sosland/mbn/2012_12_11
https://www.nxtbook.com/sosland/mbn/2012_11_27
https://www.nxtbook.com/sosland/mbn/2012_11_13
https://www.nxtbook.com/sosland/mbn/2012_10_30
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https://www.nxtbook.com/sosland/mbn/2012_10_02
https://www.nxtbook.com/sosland/mbn/2012_09_18
https://www.nxtbook.com/sosland/mbn/2012_09_04
https://www.nxtbook.com/sosland/mbn/2012_08_21
https://www.nxtbook.com/sosland/mbn/2012_08_07
https://www.nxtbook.com/sosland/mbn/2012_07_24
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https://www.nxtbook.com/sosland/mbn/2012_06_26
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https://www.nxtbook.com/sosland/mbn/2012_04_17
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https://www.nxtbook.com/sosland/mbn/2012_01_24
https://www.nxtbook.com/sosland/mbn/2012_01_10
https://www.nxtbook.com/sosland/mbn/2011_12_27
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https://www.nxtbook.com/sosland/mbn/2011_11_29
https://www.nxtbook.com/sosland/mbn/2011_11_15
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https://www.nxtbook.com/sosland/mbn/2011_10_18
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https://www.nxtbook.com/sosland/mbn/2011_08_23
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https://www.nxtbook.com/sosland/mbn/2011_07_26
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https://www.nxtbook.com/sosland/mbn/2011_06_28
https://www.nxtbook.com/sosland/mbn/2011_06_14
https://www.nxtbook.com/sosland/mbn/2011_05_31
https://www.nxtbook.com/sosland/mbn/2011_05_17
https://www.nxtbook.com/sosland/mbn/2011_05_03
https://www.nxtbook.com/sosland/mbn/2011_04_19
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https://www.nxtbook.com/sosland/mbn/2011_03_22
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https://www.nxtbook.com/sosland/mbn/2011_02_22
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https://www.nxtbook.com/sosland/mbn/2010_10_19
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https://www.nxtbook.com/sosland/mbn/2010_09_21
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https://www.nxtbook.com/sosland/mbn/2010_03_23
https://www.nxtbook.com/sosland/mbn/2010_03_09
https://www.nxtbook.com/sosland/mbn/2010_02_23
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https://www.nxtbook.com/sosland/mbn/2009_04_07
https://www.nxtbook.com/sosland/mbn/2009_03_24
https://www.nxtbook.com/sosland/mbn/2009_03_10
https://www.nxtbook.com/sosland/mbn/2009_02_24
https://www.nxtbook.com/sosland/mbn/2009_02_10
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https://www.nxtbook.com/sosland/mbn/2008_10_21
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https://www.nxtbook.com/sosland/mbn/2008_09_23
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https://www.nxtbook.com/sosland/mbn/2008_04_22
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https://www.nxtbook.com/sosland/mbn/2004_03_09
https://www.nxtbook.com/sosland/mbn/2004_03_02
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https://www.nxtbook.com/sosland/mbn/2003_12_09
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https://www.nxtbook.com/sosland/mbn/2003_11_25
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