Milling & Baking News - August 10, 2010 - 4

Contents 

August 10, 2010 Vol. 89, No. 12

 Food Ingredient Solutions®

 NEWS Comment

Story on Page 25

Major shift under
way in global
wheat situation

'Leaning out'
formulations
Ingredient options for reducing
costs and fat content

11

House committee
investigates Kellogg recall

The House Committee on Energy and
Commerce launches an investigation into the
recall of 28 million boxes of cereal produced by
Kellogg Co.

Group addresses diverse
gluten-free issues
Story on Page 36

DEPARTMENTS
7
10
13
17
20
23
34
36
40
41
54

Editorial
Business
Financial Results
International
People
Data
Washington
Industry Activities
Supplier Innovations
Ingredient Week Trends
Archive

12

Sara Lee reformulates
some bread with no HFCS

Sara Lee Corp eliminates high-fructose corn
syrup and reduces sodium in its Soft & Smooth
Made with Whole Grain White bread and Soft
& Smooth 100% Whole Wheat bread varieties.

13

ADM earnings solidly
higher in fiscal year 2010

A sharp gain in its corn processing operations
helps to boost Archer Daniels Midland Co. to
fiscal-year earnings of $1,930 million, up from
$1,684 million in the previous year.

14

Bunge cuts e.p.s. guidance
after tough quarter

Bunge Ltd. reduces its full-year earnings
guidance to $510 million to $550 million
from $850 million to $930 million after a
disappointing second quarter.

16

Corn Products returns
to profit in quarter

Corn Products International, Inc. achieves
second-quarter income of $37 million and
makes progress on the acquisition of National
Starch Food Innovation.

COMPANIES IN THIS ISSUE
American Italian Pasta Co. ........ 20
Archer Daniels Midland Co........ 13
Briess Malt & Ingredients Co..... 26
Buhler ......................................... 8
Bunge Ltd.................................. 14
Bunge North America ................ 40
Caravan Ingredients .................. 40
Cargill ................................. 26, 40
Comax Flavors .......................... 26

ConAgra Foods, Inc. .................. 38
Corn Products International, Inc.16
D.D. Williamson ......................... 26
Grande Custom Ingredients ...... 28
Grupo Bimbo S.A.B. de C.V. ....... 39
J&K Ingredients ......................... 28
J.R. Short Milling Co. ................. 28
Keebler Co. ................................ 22
The Kellogg Co. ............... 8, 11, 17

4 / August 10, 2010 Milling & Baking News

When markets perform like wheat futures
did last week, including limit advances,
the all-too-often inclination is to blame
such moves on wild and limitless buying by
investment funds and financial interests.
The apparent corollary belief is that market
fundamentals do not justify skyrocketing
prices, that if trading by non-commercial
interests could be restrained, if not barred,
the market's reaction would have been
much different and certainly less explosive.
Needless to say, such opinions are
contrary to the basic tenet of experienced
traders who historically have believed
that the market at any point is never
wrong. The real current issue is whether
Russia's action in banning all grain
exports from Aug. 15 through Dec. 31
is sufficiently a bullish force not just to
explain last week's sharp advances but
to mean a massive shift has occurred in
wheat fundamentals. Considering that at
the start of 2010-11 Russia was projected
to rank second as a wheat exporter, tying
Canada and lagging only U.S. shipments,
its withdrawal may not be dismissed as
other than gigantic.
The likely influence Russia's actions
may have on other exporting nations also
with supplies curtailed by poor weather
is a worrying possibility. The certainty
that U.S. exports of wheat will now be
larger than first anticipated appears to
be driving much of the recent strength.
Domestic supplies seem equal to meeting
any demand pickup. But it may take
abundant Southern Hemisphere crops to
reverse current price trends. MBN

KinniKinnich Foods, Inc. ............ 38
Kraft Foods Inc. ....................... 1, 8
Krispy Kreme
Doughnuts Corp. .................... 11
Microwave Science JV, L.L.C. ..... 40
National Starch Food
Innovation .............................. 26
North Dakota Mill
and Elevator ........................... 14

Ralcorp Holdings, Inc................. 20
Ribus ......................................... 25
Sara Lee Corp. ..................... 12, 22
Sethness Caramel Color ............ 26
Tasty Baking Co......................... 16
Tate & Lyle P.L.C. ....................... 30
21st Century
Grain Processing .................... 28
Unilever P.L.C. ........................... 40
bakingbusiness.com / world-grain.com


http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - August 10, 2010

Table of Contents for the Digital Edition of Milling & Baking News - August 10, 2010

Contents
Milling & Baking News - August 10, 2010 - 1
Milling & Baking News - August 10, 2010 - 2
Milling & Baking News - August 10, 2010 - 3
Milling & Baking News - August 10, 2010 - Contents
Milling & Baking News - August 10, 2010 - 5
Milling & Baking News - August 10, 2010 - 6
Milling & Baking News - August 10, 2010 - 7
Milling & Baking News - August 10, 2010 - 8
Milling & Baking News - August 10, 2010 - 9
Milling & Baking News - August 10, 2010 - 10
Milling & Baking News - August 10, 2010 - 11
Milling & Baking News - August 10, 2010 - 12
Milling & Baking News - August 10, 2010 - 13
Milling & Baking News - August 10, 2010 - 14
Milling & Baking News - August 10, 2010 - 15
Milling & Baking News - August 10, 2010 - 16
Milling & Baking News - August 10, 2010 - 17
Milling & Baking News - August 10, 2010 - 18
Milling & Baking News - August 10, 2010 - 19
Milling & Baking News - August 10, 2010 - 20
Milling & Baking News - August 10, 2010 - 21
Milling & Baking News - August 10, 2010 - 22
Milling & Baking News - August 10, 2010 - 23
Milling & Baking News - August 10, 2010 - 24
Milling & Baking News - August 10, 2010 - 25
Milling & Baking News - August 10, 2010 - 26
Milling & Baking News - August 10, 2010 - 27
Milling & Baking News - August 10, 2010 - 28
Milling & Baking News - August 10, 2010 - 29
Milling & Baking News - August 10, 2010 - 30
Milling & Baking News - August 10, 2010 - 31
Milling & Baking News - August 10, 2010 - 32
Milling & Baking News - August 10, 2010 - 33
Milling & Baking News - August 10, 2010 - 34
Milling & Baking News - August 10, 2010 - 35
Milling & Baking News - August 10, 2010 - 36
Milling & Baking News - August 10, 2010 - 37
Milling & Baking News - August 10, 2010 - 38
Milling & Baking News - August 10, 2010 - 39
Milling & Baking News - August 10, 2010 - 40
Milling & Baking News - August 10, 2010 - 41
Milling & Baking News - August 10, 2010 - 42
Milling & Baking News - August 10, 2010 - 43
Milling & Baking News - August 10, 2010 - 44
Milling & Baking News - August 10, 2010 - 45
Milling & Baking News - August 10, 2010 - 46
Milling & Baking News - August 10, 2010 - 47
Milling & Baking News - August 10, 2010 - 48
Milling & Baking News - August 10, 2010 - 49
Milling & Baking News - August 10, 2010 - 50
Milling & Baking News - August 10, 2010 - 51
Milling & Baking News - August 10, 2010 - 52
Milling & Baking News - August 10, 2010 - 53
Milling & Baking News - August 10, 2010 - 54
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https://www.nxtbook.com/sosland/mbn/2017_09_12
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https://www.nxtbook.com/sosland/mbn/2017_03_28
https://www.nxtbook.com/sosland/mbn/2017_03_14
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https://www.nxtbook.com/sosland/mbn/2017_02_14
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https://www.nxtbook.com/sosland/mbn/2016_08_30
https://www.nxtbook.com/sosland/mbn/2016_08_16
https://www.nxtbook.com/sosland/mbn/2016_08_02
https://www.nxtbook.com/sosland/mbn/2016_07_19
https://www.nxtbook.com/sosland/mbn/2016_07_05
https://www.nxtbook.com/sosland/mbn/2016_06_21
https://www.nxtbook.com/sosland/mbn/2016_06_07
https://www.nxtbook.com/sosland/mbn/2016_05_24
https://www.nxtbook.com/sosland/mbn/2016_05_10
https://www.nxtbook.com/sosland/mbn/2016_04_26
https://www.nxtbook.com/sosland/mbn/2016_04_12
https://www.nxtbook.com/sosland/mbn/2016_03_29
https://www.nxtbook.com/sosland/mbn/2016_03_15
https://www.nxtbook.com/sosland/mbn/2016_03_01
https://www.nxtbook.com/sosland/mbn/2016_02_16
https://www.nxtbook.com/sosland/mbn/2016_02_02
https://www.nxtbook.com/sosland/mbn/2016_01_19
https://www.nxtbook.com/sosland/mbn/2016_01_05
https://www.nxtbook.com/sosland/mbn/2015_12_22
https://www.nxtbook.com/sosland/mbn/2015_12_08
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
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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
https://www.nxtbook.com/sosland/mbn/2014_12_09
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_16
https://www.nxtbook.com/sosland/mbn/2014_09_02
https://www.nxtbook.com/sosland/mbn/214_08_19
https://www.nxtbook.com/sosland/mbn/2014_08_01
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
https://www.nxtbook.com/sosland/mbn/2014_04_29
https://www.nxtbook.com/sosland/mbn/2014_04_15
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https://www.nxtbook.com/sosland/mbn/2014_03_18
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https://www.nxtbook.com/sosland/mbn/2014_02_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
https://www.nxtbook.com/sosland/mbn/2013_10_29
https://www.nxtbook.com/sosland/mbn/2013_10_15
https://www.nxtbook.com/sosland/mbn/2013_10_01
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
https://www.nxtbook.com/sosland/mbn/2013_08-06
https://www.nxtbook.com/sosland/mbn/2013_07_23
https://www.nxtbook.com/sosland/mbn/2013_07_09
https://www.nxtbook.com/sosland/mbn/2013_06_25
https://www.nxtbook.com/sosland/mbn/2013_06_11
https://www.nxtbook.com/sosland/mbn/2013_05_28
https://www.nxtbook.com/sosland/mbn/2013_05_14
https://www.nxtbook.com/sosland/mbn/2013_04_30
https://www.nxtbook.com/sosland/mbn/2013_04_16
https://www.nxtbook.com/sosland/mbn/2013_04_02
https://www.nxtbook.com/sosland/mbn/2013_03_19
https://www.nxtbook.com/sosland/mbn/2013_03_05
https://www.nxtbook.com/sosland/mbn/2013_02_19
https://www.nxtbook.com/sosland/mbn/2013_02_05
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
https://www.nxtbook.com/sosland/mbn/2012_10_16
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
https://www.nxtbook.com/sosland/mbn/2012_07_10
https://www.nxtbook.com/sosland/mbn/2012_06_26
https://www.nxtbook.com/sosland/mbn/2012_06_12
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https://www.nxtbook.com/sosland/mbn/2012_04_17
https://www.nxtbook.com/sosland/mbn/2012_04_03
https://www.nxtbook.com/sosland/mbn/2012_03_20
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https://www.nxtbook.com/sosland/mbn/2012_02_21
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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
https://www.nxtbook.com/sosland/mbn/2011_12_13
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_09_20
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https://www.nxtbook.com/sosland/mbn/2011_08_23
https://www.nxtbook.com/sosland/mbn/2011_08_09
https://www.nxtbook.com/sosland/mbn/2011_07_26
https://www.nxtbook.com/sosland/mbn/2011_07_12
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
https://www.nxtbook.com/sosland/mbn/2011_04_05
https://www.nxtbook.com/sosland/mbn/2011_03_22
https://www.nxtbook.com/sosland/mbn/2011_03_08
https://www.nxtbook.com/sosland/mbn/2011_02_22
https://www.nxtbook.com/sosland/mbn/2011_02_08
https://www.nxtbook.com/sosland/mbn/2011_01_25
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https://www.nxtbook.com/sosland/mbn/2010_12_28
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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_04_20
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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
https://www.nxtbook.com/sosland/mbn/2010_02_09
https://www.nxtbook.com/sosland/mbn/2010_01_26
https://www.nxtbook.com/sosland/mbn/2010_01_12
https://www.nxtbook.com/sosland/mbn/2009_12_29
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https://www.nxtbook.com/sosland/mbn/2009_10_20
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https://www.nxtbook.com/sosland/mbn/2009_09_22
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https://www.nxtbook.com/sosland/mbn/2009_08_25
https://www.nxtbook.com/sosland/mbn/2009_08_11
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https://www.nxtbook.com/sosland/mbn/2009_06_16
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https://www.nxtbook.com/sosland/mbn/2009_05_19
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https://www.nxtbook.com/sosland/mbn/2009_04_21
https://www.nxtbook.com/sosland/mbn/2009_04_08
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_12_02
https://www.nxtbook.com/sosland/mbn/2008_11_18
https://www.nxtbook.com/sosland/mbn/2008_11_04
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_06_17
https://www.nxtbook.com/sosland/mbn/2008_06_03
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https://www.nxtbook.com/sosland/mbn/2008_04_22
https://www.nxtbook.com/sosland/mbn/2008_04_08
https://www.nxtbook.com/sosland/mbn/2008_04_01
https://www.nxtbook.com/sosland/mbn/2008_03_25
https://www.nxtbook.com/sosland/mbn/2008_03_11
https://www.nxtbook.com/sosland/mbn/2008_02_26
https://www.nxtbook.com/sosland/mbn/2008_02_12
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https://www.nxtbook.com/sosland/mbn/2007_09_11
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https://www.nxtbook.com/sosland/mbn/2007_02_27
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https://www.nxtbook.com/sosland/mbn/2004_07_20
https://www.nxtbook.com/sosland/mbn/2004_07_13
https://www.nxtbook.com/sosland/mbn/2004_07_06
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