Milling & Baking News - July 13, 2010 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS JULY 13, 2010 / FEATURE With July increase, U.S.D.A. sees billion-bushel wheat carryover Bioengineered wheat finally gaining focus Story on Page 21 LATE NEWS Bakers seek to preserve grains servings guidance WASHINGTON - The Dietary Guidelines Advisory Committee should maintain the current recommended daily level of six grain servings in soon-to-be-published guidelines, according to the American Bakers Association. Calling grains the "foundation of a healthy lifestyle," Robb MacKie, president and chief executive officer of the A.B.A., said in oral testimony delivered to the committee on July 8, "Grain foods are well-liked by adults and children and provide an excellent vehicle for Americans to obtain good nutrition." Mr. MacKie extolled the benefits of Continued on Page 8 WASHINGTON - U.S. wheat carryover on June 1, 2011, was projected at 1,093 million bus, up 102 million bus, or 10%, from 991 million bus forecast in June and up 120 million bus, or 12%, from 973 million bus in 2010, the U.S. Department of Agriculture said in its June 10 World Agricultural Supply and Demand Estimates. The projected U.S.D.A. carryover was above the average pre-report trade expectations for both years. If realized, it would mark the first time in 33 years since the U.S. wheat carryover exceeded 1 billion bus. The 1988 carryover was 1,261 million bus. U.S. all wheat production was projected at 2,216 million bus for 2010-11, up 149 million bus, or 7%, from 2,067 million bus in June and even with a year earlier. Total wheat supply was projected at 3,289 million bus for 2010-11, up 182 million bus, or 6%, from June and up 301 million bus, or 10%, from 2,988 million bus in 2009-10, the U.S.D.A. said. Exports of U.S. wheat for 2010-11 were projected at 1,000 million bus, up 100 million bus, or 11%, from June and up 135 million bus, or 16%, from 865 million bus in 2009-10. Total use was projected at 2,196 million bus, up 80 million bus, or 4%, from June and up 182 million bus, or 4%, from 2,014 million bus in 2009-10. Domestic food use was projected at 940 million bus, unchanged from June but up 20 million bus from 2009-10. The U.S.D.A. is forecasting an ending stocks-to-use ratio of 49.7%, up from 48% in 2010 and 29% in 2009. Despite the carryover boost, the average farm price of U.S. wheat in 2010-11 was projected to fall in a range of $4.20@5 a bus, compared with $4@4.80 in June and $4.87 estimated in 2009-10. MBN (For additional data see Page 16) U.S.D.A. responds to president's call to double exports over five years WASHINGTON - President Barack Obama's National Export Initiative aims to double exports of U.S. goods and services over the next five years by mobilizing all trade-related agencies of the U.S. government to assist companies in expanding markets overseas. Agricultural trade long has stood out as an American success story with the United States consistently running a trade surplus. At the same time, there are tremendous opportunities for accelerated growth in agricultural exports to accomplish a doubling in sales abroad consistent with the president's goals, said James W. Miller, Undersecretary of Agriculture for Farm and Foreign Agricultural Services, in a recent interview with Milling & Baking News. The U.S. Department of Agriculture has well-established market development programs. Asked what change might be expected in U.S.D.A. initiatives under the N.E.I., Mr. Miller said, "The most important change is that in the past, presidents and others in government have talked a good story about export promotion and expanding markets for agricultural products and other goods and services. President Obama Continued on Page 20

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Milling & Baking News - July 13, 2010