Milling & Baking News - July 9, 2013 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS JULY 9 , 2013 / News Feature I.B.I.E. Update Debate over bioengineered crops and food ingredients continues Baking Expo 2013 brings great expectations Story on Page 28 LATE NEWS Mondelez profit estimate trimmed by analyst NEW YORK — Notwithstanding good growth in the large U.S. and European biscuit business of Mondelez International, Credit Suisse is lowering its earnings forecast for the company. Robert Moskow, an analyst with Credit Suisse, cited Nielsen data indicating mid-single digit growth in the U.S. biscuit business and low single-digit growth in Europe but noted chewing gum sales are under pressure. Additionally, Mr. Moskow expressed concern about slowing growth in emerging markets, including Brazil and China. For the second quarter, Mr. Moskow lowered the Credit Suisse earnings estimate to 33c Continued on Page 8 KANSAS CITY — The recent surprise finding of unapproved bioengineered wheat plants growing in an Oregon field caught the attention of the trade, briefly brought the Monsanto antagonists out in force, resulted in more class action lawsuits, brought a halt in soft white winter wheat exports from the Pacific Northwest to some countries and added fuel to the long-running debate on the use of bioengineered crops. Globally, the International Service for the Acquisition of Agri-biotech Applications (ISAAA) estimates 81% of global soybean and cotton plantings, 35% of corn and 30% of canola/rapeseed were of bioengineered varieties in 2012. Those are known as the “big four” bioengineered crops. Bioengineered crops, the products made from them, the food items containing ingredients from them and the companies that develop and market bioengineered seeds are not without their detractors with numerous “antiG.M.O.” web sites, a seemingly constant filing of lawsuits and ongoing attempts to pass labeling laws. The controversy was obvious recently when the prestigious 27th World Food Prize was awarded June 19 to three Continued on Page 23 Corn, soybean and spring wheat acreage larger than in 2012 WASHINGTON — Area planted to corn, soybeans and spring wheat other than durum in 2013 was estimated up from a year ago while durum area was down sharply, the U.S. Department of Agriculture said in its annual Acreage report issued June 28. The soybean planted area number will be record large if realized. Area planted to corn was estimated at 97,379,000 acres, up 97,000 acres from March intentions of 97,282,000 acres, up 224,000 acres from 97,155,000 acres in 2012, and the highest on record since 102 million acres in 1936, the U.S.D.A. said. Corn harvested area was forecast at 89,135,000 acres, up 1,760,000 acres, or 2%, from 87,375,000 acres a year ago. The corn planted area was well above the average of trade expectations of 95,340,000 acres. New crop corn futures prices tumbled more than 20c a bu after the release of the report. Soybean planted area was estimated at 77,728,000 acres, up 602,000 acres, or about 1%, from March intentions of 77,126,000 acres, and up 530,000 acres, or less than 1%, from 77,198,000 acres last year, the U.S.D.A. said. Harvested area was forecast at 76,918,000 acres, up Continued on Page 32

Table of Contents for the Digital Edition of Milling & Baking News - July 9, 2013

Milling & Baking News - July 9, 2013
Debate over bioengineered crops and food ingredients continues
Corn, soybean and spring wheat acreage larger than in 2012
Late News - Mondelez profit estimate trimmed by analyst
Table of Contents
News/Comment - Ahead of the president in Africa approach
Editorial - Court ruling leaves new wheat to science
Late News
Business - Pepperidge Farm expanding one plant and closing another
Twinkies to return on July 15
Gavilon buys five grain facilities
Arbor Investments expands in baking, buys New French Bakery
Grain elevator explosion at Indiana co-op kills worker
General Mills closing California mix plant
After i.p.o., Noodles & Co. shares more than double in value
Alpha Baking first in industry to feature alternative fuel fleet
Campbell Soup to acquire Danish manufacturer of baked snacks
General Mills looks to gain back ground in cereal category
Financial Results - ‘Point of difference’ seen lifting ConAgra brands
International - Bühler to supply rice processing machines in Thailand
ADM submits formal offer valuing GrainCorp at about $3.5 billion
Merchandising - Kellogg turns to new flavors and ingredients in expansive product launch
People - Nebraska grower installed at U.S. Wheat as new chairman
I.B.I.E. Update - Baking Expo 2013 brings great expectations
Weather Outlook - Fierce western U.S. heat wave sends fears into Corn Belt
Data - Wheat carryover smaller than expected; off from last year
Industry Activities - Hard red winter wheat futures trading transitions to Chicago
Cardiology and neurology experts join G.F.F. advisers
Ingredient Market Trends - Acreage data provides a measure of drought’s bite
Ingredient Week
Supplier Innovations
Marketplace Business Network
Ad Index

Milling & Baking News - July 9, 2013