Milling & Baking News - December 13, 2011 - 4

Contents 

December 13, 2011 Vol. 90, No. 21

Signature Interview

In Stoufer’s view, ‘sky is the limit’ for whole wheat ﬂour protential Story on Page 1

 NEWS Comment

Record world crop matched by sharp gain for use
Even as wheat prices have fallen sharply in response to increasing estimates of global production for 2011-12, sight should not be lost of the parallel expansion in use. True, the attainment of a new production record, as conﬁrmed in estimates issued by the U.S. Department of Agriculture, means an outturn well in excess of global disappearance, resulting in a sizable carryover expansion. Indeed, the ending stock, now placed at 208.5 million tonnes, is just a bit short of the record of 210.7 million in 2000. The stock rise, of 4%, from a year earlier relates to the bearish market. Almost overlooked in this crescendo of crop increases, mainly in the Southern Hemisphere, is the way that the generous outturns have encouraged utilization. Food use, which has been rising at hardly 1% per year, is expected to gain 1.5% mainly due to consumption expansion in India and Africa. Global feed use of wheat is expected to climb 10% or more, spurred as much by heavy supplies of low quality grain as by the outturn increase. Industrial use remains on a gradual upward move. Wheat consumption in total in 201112 is now expected to expand three times faster than the trend of the past decade or longer. While annual crops are subject to the unpredictability of weather, patterns of consumption are longer lasting, especially when it comes to expanding food use. Thus, the 2011-12 crop season may be remembered for its peak world outturn, but its main inﬂuence may be launching a new upward trend in wheat consumption. MBN

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Emergency generators and supplemental energy
Story on Page 27

Cargill to reduce global workforce by 1.5%

Cargill plans to let go 2,000 of its 138,000 employees because of a weak global economy. The cuts are part of a broader effort to reduce expenses.

Government moves ahead with C.W.B. dismantling

Even though a federal court rules for the Canadian Wheat Board and against the country’s agriculture minister, Canadian legislation seeks to end the C.W.B.

    DEPARTMENTS
7 9 12, 20 14 18 21 27 28 31 32 33 41 46 Editorial Business Financial Results Nutrition and Health People Data Regulatory Affairs Washington Industry Activities International Ingredient Week Trends Supplier Innovations Archive

12 18 28

Impairment charge drags down Ralcorp earnings

Ralcorp Holdings, Inc. loses $187.2 million in the fiscal year as a $471.4 million impairment charge related to the Post cereal business affects results negatively.

Rosenfeld to new role following Kraft spin-off

Irene Rosenfeld, chief executive officer of Kraft Foods Inc., will lead the global snacks company. W. Anthony Vernon will lead the North American grocery company.

MacKie decries proposed rules for truck drivers

Robb MacKie, president and chief executive officer of the American Bakers Association, speaks out against proposed changes to Hours of Service regulations.

    COMPANIES IN THIS ISSUE
Ample Industries, Inc. ...................................... 9 Brookside Foods Ltd. ....................................... 8 Cargill ....................................................... 9, 10 ConAgra Mills ................................................. 1 FMC Corp. ..................................................... 10 Gavilon, L.L.C. ............................................... 10 Go Pure Foods ............................................... 11 Groupe Biscuits Leclerc Inc............................ 11 Grupo Bimbo S.A.B. de C.V. ............................. 9 The Hershey Co. .............................................. 8 Horizon Milling ............................................. 10 Huhtamaki, Inc. ............................................... 9 Kraft Foods Inc. ....................................... 18, 32 Krispy Kreme Doughnuts, Inc. ....................... 20 Lallemand/American Yeast .............................. 9 Lyco Manufacturing ...................................... 41 Malt-O-Meal ................................................. 10 MF Global Inc............................................ 8, 31

Nu-Tek Salt, L.L.C. ......................................... 41 Pepperidge Farm, Inc. .................................... 10 Ralcorp Holdings, Inc..................................... 12 Sara Lee Corp. ................................................. 9 Scoular Co. .................................................... 41 Seaboard Corp............................................... 12 SK Food International.................................... 41 Soy Labs, L.L.C............................................... 41 Tate & Lyle P.L.C. ........................................... 41

4 / December 13, 2011 Milling & Baking News

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Milling & Baking News - December 13, 2011

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