Milling & Baking News - December 9, 2014 - (Page 34)

Ingredient Week Bakery Flour Bookings of bakery flour were limited last week. Price changes were mixed. Pan bread flour prices and spring grades were lowered with weaker cash wheat markets an important factor in the adjustments. Soft flour prices were raised. Most bakers already covered all of their flour needs through December. There may be fill-ins by bakers finding they had underestimated their December business as well as some purchases by distributors who typically don't book supply very far ahead. Otherwise, business was virtually a "wrap" for the year. The attention was on managing bookings for the first quarter of 2015 and beyond. Millers indicated incremental booking by bakers in January-March during the week. There certainly was no rush in activity. Individual bakers covered the basis component for prospective JanuaryFebruary contracts, and this activity completed some bookings. Interest in booking basis was most keen in spring wheat and hard red winter. The cash markets for both classes were under some pressure last week. The recent run-up in wheat futures prices tempered enthusiasm to extend coverage of that component. On the basis of the week's business, millers raised estimates of pan bread flour coverage for the first quarter to about 50%, comprising both completed contracts and component coverage signifying bakers' commitment to conclude contracts in the next few weeks. Cookie-cracker and specialty bakers' commitments to contracts Bakery flour Dec. 5 34 / December 9, 2014 Family Flour Sales of national and regional brands of family flour were seasonally strong, but a slowdown was in sight. Carlot list prices were unchanged. Manufacturers indicated orders were strong and were expected to remain pressing until mid-December. At that time, flour milled for home baking during the holidays will have been shipped to grocery and club stores. Operations typically then begin to slow. Manufacturers expected volume for the baking season, once the figures are in and assessed, will prove to be similar to that seen in 2013. Promotions seen at the retail level were similar to those of a year ago. Gold Medal flour was offered at $1.99 per 5-lb bag at many club stores. Some private label flour was offered as low as $1.69 or even $1.59 a bag. A common offer on grocery shelves for regional brands was two 5-lb bags for $4, which also was common last year. MBN Semolina Bookings of semolina, granulars and durum flour were light last week. Prices were raised about 45c per cwt. The price of choice milling hard amber durum as quoted at the Chicago gateway was $18 a bu, up 25c from the previous week. The market had greater definition having traded at $18 a bu in at least limited volume last week on a few occasions. The Minneapolis price was about $17.70 a bu. While the cash durum price moved up it remained $2 a bu below the recent high. In the past several months, poor railroad service underpinned the cash durum market. In recent weeks, the rail service showed improvement, and durum mills were successful in shoring up thinning pipelines. But millers cautioned pasta manufacturers durum and semolina prices may remain historically high even if rail service improvement is maintained, which most doubted, because of the smaller crops harvested in both the United States and Canada and the subpar quality exhibited by both crops. Pasta manufacturers earlier covered all of their semolina needs through December. January-March coverage was estimated at between 75% and 80%. Coverage beyond March was thin. Statistics Canada on Dec. 4 estimated Canadian durum production in 2014 at 5,193,000 tonnes, up 437,100 tonnes from the September estimate but down 20% from a record 6,505,000 tonnes in 2013. Durum mill grind was strong with some units running six or seven days. MBN Bakers standard, Kansas City Bulk, f.o.b. car, $ per cwt $22.00 $20.00 No. 1 hard amber durum Bulk, f.o.b. car, $ per cwt Kansas City Bakers short patent Bakers standard patent Second clear Third clear Minneapolis Spring short patent Spring standard patent High gluten Whole wheat Specialty whole wheat Fancy spring clear First spring clear Rye, white Chicago Cracker Fancy cake New York Winter/spring blend Spring standard patent High gluten Fancy cake Rye, white Los Angeles Bakers standard patent Pastry equated to about 45% of their prospective first-quarter requirements. Flour grind was mostly six days with some plants running seven. MBN Track, Chicago - Change from - Year $ per bu Dec. 5 Nov. 28 Nov. 21 ago Choice milling 13% 18.00 $18.00 - Change from - Year Nov. 28 Nov. 21 ago +.25 - 9.55 $16.00 D M J S Previous Year 17.85 17.75 14.00 ... -0.70 -0.70 - ... -0.10 -0.10 - ... 18.85 Track, Minneapolis 18.75 $ per bu 14.00 Choice milling 13% 17.70 ... 18.05 17.95 20.95 17.95 18.30 17.80 17.70 22.90 -1.35 -1.35 -1.35 -1.35 -1.35 -1.35 -1.35 -0.25 -0.75 -0.75 -0.75 -0.75 -0.75 -0.75 -0.75 -0.45 18.60 18.50 21.50 18.50 18.85 18.35 18.25 22.25 16.15 17.65 0.65 0.65 1.20 1.20 15.70 17.20 20.25 20.00 23.00 19.65 25.40 -0.70 -1.20 -1.20 0.65 -0.25 -0.10 -0.50 -0.50 1.20 -0.45 21.25 21.10 24.10 19.20 24.75 22.75 22.80 -0.70 -0.70 -0.10 -0.10 24.35 24.20 Milling & Baking News Current Year Spring standard, Minneapolis +.25 - 9.15 Bulk, f.o.b. car, $ per cwt $27.00 Semolina $25.00 Bulk, f.o.b. Minneapolis, $ per cwt - Change from - Dec. 5 Nov. 28 Nov. 21 Semolina 44.25 +.45 -.30 Granulars 44.05 +.45 -.30 Flour 43.95 +.45 -.30 First clear ... ... Second clear ... ... Semolina - N.Y. 47.05 +.45 -.30 $23.00 Year ago 22.20 22.00 21.90 17.55 13.50 24.90 Nationally advertised family flour $21.00 $19.00 $17.00 $15.00 D M J Previous Year S Current Year Cracker flour, Chicago Bulk, f.o.b. car, $ per cwt $21.00 Dollars Dec. 5 Family patent, 2-25s papers 24.12 4-10s n.a. 8-5s 18.52 18-2s 20.64 Self-rising n.a. $19.00 Year ago 24.12 n.a. 18.52 20.64 n.a. $17.00 $15.00 $13.00 $11.00 $9.00 D M J Previous Year S Current Year bakingbusiness.com / world-grain.com http://www.bakingbusiness.com http://www.world-grain.com

Table of Contents for the Digital Edition of Milling & Baking News - December 9, 2014

Milling & Baking News - December 9, 2014
January-September flour output sets new record, rises 0.9%
Consumer Reports casts doubts on merits of gluten-free diet
Late News - Reading to double facility’s size
Table of Contents
News Comment - Finally, commodity relief for grain-based foods
Editorial - India agreement offers hope for W.T.O.
Late News
Luna shifting line of bars to gluten-free ingredients
Business - Fire damages Canada Bread baking plant in Ontario
Girl Scout Cookies enter digital age
Sosland Publishing relocating company headquarters
Cargill reaches settlement, to change labels in Truvia case
C.H. Robinson to acquire Freightquote for $365 million
Financial Results - Campbell Soup baking unit profits strong; U.S. business soft
Charges bog down Post profit; adjusted EBITDA up sharply
Aryzta revenue in North America grows through acquisitions
ADM growth plans include Wild and Brazilian oilseeds
Input costs, plant start-up costs hinder Weston Foods
People - Mayo Schmidt to join Louis Dreyfus as c.e.o.
George Deese to retire as executive chairman at Flowers
Ready-to-eat Cereal Update - Cereal makers seek fresh start
Regulatory Affairs - Air emission calculation for particulate matter: Flour
Industry Activities - Wild, wild East: NAMA given ‘tour’ of Southeast Asia milling industry
AIB names new director of food safety services innovation
Nutrition and Health - USA Rice Federation disputes latest arsenic report
Supplier Innovations
Ingredient Market Trends - Grain volume requirements for Canadian railroads extended
Ingredient Week
Classifieds
Marketplace Business Network
Ad Index
Archive

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