Milling & Baking News - November 26, 2013 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS NOVEMBER 26, 2013 / Grain Market Roundtable BARS UPDATE Differing views on wheat futures price outlook as winter approaches K Nutrition bars provide healthy boost to otherwise sluggish segment Story on Page 32 LATE NEWS Post profit falls in fiscal 2013 ST. LOUIS - Net income at Post Holdings, Inc. in the fiscal year ended Sept. 30 totaled $9.8 million, equal to 30c per share on the common stock, down from $49.9 million, or $1.45 per share, in fiscal 2012. Fiscal 2013 results included an incremental $9.6 million of accelerated depreciation expense and $3.8 million related to employee termination benefits. Operating profit for the full year was $107.8 million, down 23% from $139.1 million a year ago. Net sales increased 8% to $1,034.1 million from $958.9 million. Post said it experienced strong performance for a number of ready-to-eat cereal brands during the year, including Great Continued on Page 8 ANSAS CITY - How to balance a tight old crop wheat inventory against prospects for larger supplies of wheat, soybeans and perhaps even corn in 2014 led to differing views on wheat futures price direction in the coming months, based on interviews with veteran crop analysts. Some expected wheat prices to continue to grind lower in the next few months, while others suggested wheat futures currently were trading at the low end of a range that may creep higher into the first quarter of 2014. The differences in opinion may be traced in part to interpretation of the wheat balance sheet for 2013-14 as revised by the U.S. Department of Agriculture on Nov. 8 in its November World Agricultural Supply and Demand Estimates report. Most trade analysts expected the U.S.D.A. to lower, not raise, its forecast for the 2014 wheat carryover in the November report. The U.S.D.A. forecast the June 1, 2014, inventory of wheat, comprising the 2014 carryover, at 565 million bus, up 4 million bus from the September projection but down 153 million bus, or 21%, from 718 million bus in 2013. Before the November WASDE report was issued, the average of trade estimates for the 2014 wheat carryover was around 520 million bus. While many remained skeptical about the U.S.D.A. numbers, the report Continued on Page 23 Baked foods a focus of F.D.A. guidance to reduce acrylamide intake WASHINGTON - Baked foods, together with potatoes and coffee, are a centerpiece of new Food and Drug Administration guidance aimed at reducing acrylamide in the food supply. The draft document, which will not be binding on manufacturers even when finalized, was issued by the Center for Food Safety and Applied Nutrition on Nov. 14. While it has been longer than 10 years since scientists announced the discovery of acrylamide in a number of heated foods, the F.D.A. said much still remains to be learned about the subject. They suggested their findings and recommendations could be subject to change in the years ahead. "Acrylamide reduction is an area of ongoing research, and some approaches discussed may be at a research stage rather than in general use," the guidance said. "We recommend that manufacturers evaluate approaches that may be relevant to their particular products and consider adopting approaches, if feasible, that reduce acrylamide in their products." The guidance features several pages addressing ways to reduce acrylamide in grain-based foods, including bread, crackers and breakfast cereal. Acrylamide forms in food from a Continued on Page 38

Table of Contents for the Digital Edition of Milling & Baking News - November 26, 2013

Milling & Baking News - November 26, 2013
Grain Market Roundtable - Differing views on wheat futures price outlook as winter approaches
Baked foods a focus of F.D.A. guidance to reduce acrylamide intake
Late News - Post profit falls in fiscal 2013
Table of Contents
News/Comment - Holiday calm eludes baking in regulatory affairs
Editorial - Science foundation includes wheat
Late News
Business - Mulligan says General Mills remains well positioned for growth
Schwebel to close baking plant in Cuyahoga Falls
ADM concentrating on initiatives to deal with cost, cash and capital
Pinnacle pinpoints baking season strategy, unveils new products
Financial Results - Cost inflation, promotional spending bog down baking unit at Campbell
MGP Ingredients sustains $6.4 million loss in third quarter
Smucker earnings rise in quarter, but sales disappoint
Weston Foods sees reason to increase par-bake production
Data - Quarterly flour output down; year to date still record
Marked third quarter shifts in regional flour output shares
C.P.I. for baked foods, cereals falls 0.2% in October
White bread price plummets in October
People - Manildra Group hires v.p. of R.&D. and technical services
Bill Dibble, former executive with Q.B.A., dies
Ethanol, exports muddle market amid three-year low corn prices
Soybean crop could make record if weather cooperates
Bars Update - Nutrition bars provide healthy boost to otherwise sluggish segment
Coconut curry, bean flours — even bison — star in bar innovations
Weather Outlook - Summer dryness still possible in South America
Washington - F.D.A. proposes rule to improve the safety of animal food
Gordon points to F.S.M.A. rule’s implications for suppliers to the feed industry
Ingredient Market Trends - U.S.D.A. forecasts record wheat imports in 2013-14
Ingredient Week
Supplier Innovations
Marketplace Business Network
Ad Index

Milling & Baking News - November 26, 2013