Milling & Baking News - August 11, 2009 - 8

"Rom

Menne l

WEEK OF AUGUST 11

Continued from Page 1

soft red winter wheat

average selling prices. Institutional revenues decreased
29% to $32.5 million during
the third quarter, primarily
due to an 11% decrease in
volume and an 18% decrease
in average selling prices. For
the nine months ended July 3,
net income was $72,456,000,
or $3.52 per share, up from
$11,816,000, or 62c per share.
Net sales were up 18% to
$479,048,000.

crop was mostly

Ralcorp earnings jump
thanks to Post acquisition

FLOUR

umoCP

FEED

Late News 

GRAIN
i

I

MILLING COMPANY

While the Michigan

milling quality, white
wheat there had
another difficult year.
Indications were
well more than half
of Michigan's white
wheat may fall below
milling quality, testing
growers' commitment
to the crop.

Mennel
MILLING COMPANY
"Since 1886'
+800.638.8157

FA%. (419) 430.5150

sales@mennel.com
www.mennel.com
Flour W ill Locations
Bucyrus. Ohio
Fostoria , Ohio
Dowagiac,Michigan
Roanok e. Virginia
Mt . Olive , Illi pois

8 / August 11, 2009 Milling & Baking News

ST. LOUIS - Ralcorp Inc. recorded net earnings of $74.8
million, equal to $1.33 per
share on the common stock,
for the third quarter ended
June 30, which compared
with $45.8 million, or $1.79
per share, in
the previous
year 's
third
quarter. Thirdquarter sales
jumped to $994 million from
$658.6 million with about
$264.8 million of the increase
coming from Post Foods, acquired by Ralcorp last year,
and about $46 million of the
increase coming from Harvest Manor Farms, acquired
earlier this year. Ralcorp is
incurring costs related to
integrating Post Foods into
Ralcorp's operations. The expense portion totaled $13.2
million in the third quarter.

Mexico announces
sugar import quota
MEXICO CITY - Mexico's
Economy Ministry on Aug.
6 announced a refined sugar
import quota of up to 393,000
tonnes to be tendered in
several auctions from September through November
with shipment through Dec.
31, 2009. The need for additional purchases will be assessed after each auction, the
Ministry said. Imports were
expected to mostly come

from Central or South America. Mexico said it needed
to make up for a shortfall in
2008-09 production, which
has been estimated near 5
million tonnes of semi-refined standard sugar, about
500,000 tonnes below earlier
projections. The announcement helped push white sugar futures to all-time highs in
London and world raw sugar
futures (#11) to 28-year highs
in New York last week. Prices
already were strong due to
lower production in Brazil
and a large shortfall in India,
the world's top two sugar
producers.

Einstein Noah net falls
7% in second quarter
LAKEWOOD, COLO. - Net
income at Einstein Noah Restaurant Group in the second
quarter ended June 30 fell to
$6,466,000, equal to 40c per
share on the common stock,
down 7% from $6,914,000,
or 43c per share, in the same
period a year ago. Net sales
in the second quarter totaled
$104,358,000, down 1% from
$105,414,000 in the same period a year ago.

Workshops said to discuss
issues in ag industry
WASHINGTON - The U.S.
Department of Agriculture
and the Department of Justice said last week they will
hold their first-ever joint
public workshops to explore
competition issues affecting the agriculture industry in the 21st century. The
first workshop is scheduled
for early 2010. "For the first
time ever, farmers, ranchers,
consumer groups, agribusinesses and the federal government will openly discuss
legal and economic issues
associated with competition
in the agriculture industry,"
said Christine A. Varney, assistant attorney general in
charge of the Antitrust Division at the D.O.J. MBN

bakingbusiness.com / world-grain.com
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Milling & Baking News - August 11, 2009

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