Milling & Baking News - October 7, 2008 - 8

Late News

Mennel

FLOUR
FEED ORMN

F
apv

ITY

I

Continued from Page 1

to read the product labels, and
choose cereals that are high
in fiber and low in sugar and
sodium," said Gayle Williams,
deputy editor for Consumer Reports Health. "Served with milk
and fruit, these cereals can be
part of a well-balanced, nutritious breakfast." The report's
ratings were based on product
label information.

MILLING COMPANY

The U.S.D.A.
last week estimated

Bankruptcy court
confirms Mrs. Fields' plan

2008 soft red winter

SALT LAKE CITY - Mrs.
Fields' Original Cookies, Inc.
plan of reorganization has
been confirmed by the U.S.
Bankruptcy Court for the District of Delaware. As part of
the plan, Mrs. Fields said it
has acquired a 3-year, $10 million senior term credit facility
from a select group of its note
holders that will be used, in
conjunction with cash flows
from normal operations, to
support the company's goforward operations and working capital needs. In addition,
the company said it has improved its balance sheet by
exchanging bondholder debt
for cash, new bonds and a
controlling equity stake in the
reorganized company.

wheat production at
613.6 million bus,
up 4.8 million bus
from the August
estimate and up 255.7
million bus, or 71%,
from 357.9 million bus
in 2007. Pre-report trade
guesses averaged only

DuPont meeting
biofuels milestones

603 million bus.

Mennel
MILLING COMPANY
"Since 1886"
�800.688.8151
FAX (419) 436-5150

sales@mennel.com
www.mennel.com
Flour W ill Locations

Bucyrus, Ohio
Fostoria, Ohio

Dowegis5 Michigan

Roanoke. Virginia
MLi
Olive
l, I

8 / October 7, 2008

Milling & Baking News

WEEK OF OCTOBER 7

0

WILMINGTON, DEL. - DuPont is on track to bring two
biofuels programs to market,
said John Ranieri, vice-president and general manager, at
an Oct. 2 investors' conference.
The DuPont Biofuels business
wants to produce cellulosic
ethanol that will use non-food
energy feedstocks such as corn
cob and switchgrass. Pilot production using corn cob and
switchgrass is expected to begin in 2009 with commercially
viable economics by 2010. The
business also wants to use a
biofuel technology to produce
biobutanol, a biofuel that can
be delivered through existing
gasoline distribution channels.

U.S.D.A. issues $1.8
billion in C.R.P. payments
WASHINGTON - Secretary
of Agriculture Ed Schafer said
the U.S. Department of Agriculture will distribute $1.8 billion in Conservation Reserve
Program rental payments for
fiscal 2009. According to the
U.S.D.A., producers holding
about 766,000 contracts on
430,000 farms will receive an
average of $50.93 per acre. The
payments will allow producers
enrolled in the program to earn
an average of $4,105 per farm.

N.G.F.A. still concerned
about wheat contract
WASHINGTON - In an Oct.
2 statement before the Commodity Futures Trading Commission, the National Grain
and Feed Association said
proposed CME Group changes
to the Chicago Board of Trade
wheat futures contract would
not be enough to restore the
contract's utility as a pricing
and risk-management tool for
commercial hedgers.
The proposals, not
opposed by the
N.G.F.A., involve
establishing seasonal storage rates
at designated delivery grain elevators for CBOT
wheat; expanding grain elevator wheat delivery locations
at market-based differentials;
and setting tighter vomitoxin
limits. The N.G.F.A. said the
wheat contract performance
has deteriorated, its integrity
has declined, and "it may be at
risk of failure if current trends
continue." The group said a
more comprehensive approach
was needed to achieve convergence between futures and cash
market prices for the C.B.O.T.
wheat futures contract. In particular, the N.G.F.A. called for
the creation, over time and
following study, of "demand
certificates" that would allow
the maker of delivery to compel load out of the underlying
commodity. MBN
bakingbusiness.com / world-grain.com
http://www.mennel.com http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - October 7, 2008

Table of Contents for the Digital Edition of Milling & Baking News - October 7, 2008
