Milling & Baking News - November 26, 2013 - 1

THE NEWS WEEKLY OF GRAIN-BASED FOODS
NOVEMBER 26, 2013

bakingbusiness.com / foodbusinessnews.net

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


http://www.bakingbusiness.com http://www.foodbusinessnews.net

Milling & Baking News - November 26, 2013

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
Classifieds
Marketplace Business Network
Ad Index
Archive
Milling & Baking News - November 26, 2013 - Late News - Post profit falls in fiscal 2013
Milling & Baking News - November 26, 2013 - 2
Milling & Baking News - November 26, 2013 - 3
Milling & Baking News - November 26, 2013 - News/Comment - Holiday calm eludes baking in regulatory affairs
Milling & Baking News - November 26, 2013 - 5
Milling & Baking News - November 26, 2013 - 6
Milling & Baking News - November 26, 2013 - Editorial - Science foundation includes wheat
Milling & Baking News - November 26, 2013 - Late News
Milling & Baking News - November 26, 2013 - 9
Milling & Baking News - November 26, 2013 - Schwebel to close baking plant in Cuyahoga Falls
Milling & Baking News - November 26, 2013 - Pinnacle pinpoints baking season strategy, unveils new products
Milling & Baking News - November 26, 2013 - MGP Ingredients sustains $6.4 million loss in third quarter
Milling & Baking News - November 26, 2013 - 13
Milling & Baking News - November 26, 2013 - Smucker earnings rise in quarter, but sales disappoint
Milling & Baking News - November 26, 2013 - Weston Foods sees reason to increase par-bake production
Milling & Baking News - November 26, 2013 - Data - Quarterly flour output down; year to date still record
Milling & Baking News - November 26, 2013 - 17
Milling & Baking News - November 26, 2013 - Marked third quarter shifts in regional flour output shares
Milling & Baking News - November 26, 2013 - White bread price plummets in October
Milling & Baking News - November 26, 2013 - Bill Dibble, former executive with Q.B.A., dies
Milling & Baking News - November 26, 2013 - 21
Milling & Baking News - November 26, 2013 - 22
Milling & Baking News - November 26, 2013 - 23
Milling & Baking News - November 26, 2013 - 24
Milling & Baking News - November 26, 2013 - 25
Milling & Baking News - November 26, 2013 - Ethanol, exports muddle market amid three-year low corn prices
Milling & Baking News - November 26, 2013 - 27
Milling & Baking News - November 26, 2013 - 28
Milling & Baking News - November 26, 2013 - 29
Milling & Baking News - November 26, 2013 - Soybean crop could make record if weather cooperates
Milling & Baking News - November 26, 2013 - 31
Milling & Baking News - November 26, 2013 - Coconut curry, bean flours — even bison — star in bar innovations
Milling & Baking News - November 26, 2013 - 33
Milling & Baking News - November 26, 2013 - Weather Outlook - Summer dryness still possible in South America
Milling & Baking News - November 26, 2013 - 35
Milling & Baking News - November 26, 2013 - Gordon points to F.S.M.A. rule’s implications for suppliers to the feed industry
Milling & Baking News - November 26, 2013 - 37
Milling & Baking News - November 26, 2013 - 38
Milling & Baking News - November 26, 2013 - Ingredient Market Trends - U.S.D.A. forecasts record wheat imports in 2013-14
Milling & Baking News - November 26, 2013 - Ingredient Week
Milling & Baking News - November 26, 2013 - 41
Milling & Baking News - November 26, 2013 - 42
Milling & Baking News - November 26, 2013 - 43
Milling & Baking News - November 26, 2013 - 44
Milling & Baking News - November 26, 2013 - 45
Milling & Baking News - November 26, 2013 - 46
Milling & Baking News - November 26, 2013 - 47
Milling & Baking News - November 26, 2013 - Supplier Innovations
Milling & Baking News - November 26, 2013 - 49
Milling & Baking News - November 26, 2013 - Classifieds
Milling & Baking News - November 26, 2013 - Marketplace Business Network
Milling & Baking News - November 26, 2013 - 52
Milling & Baking News - November 26, 2013 - Ad Index
Milling & Baking News - November 26, 2013 - Archive
Milling & Baking News - November 26, 2013 - 55
Milling & Baking News - November 26, 2013 - 56
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