Milling & Baking News - August 16, 2016 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS AUGUST 16, 2016 bakingbusiness.com / foodbusinessnews.net IBIE Preview Grain Market Roundtable Low wheat prices may linger barring an export surprise A IBIE Innovation Showcase highlights wide ranging progress in baking technology Story on Page 32 LATE NEWS U.S.D.A. sees record corn, soybean crops WASHINGTON - The U.S. Department of Agriculture in its Aug. 12 Crop Production report forecast 2016 U.S. corn production at a record 15,153 million bus, up 11% from 13,601 million bus in 2015 and compared with trade expectations that averaged 14.8 billion bus. Average corn yield was forecast at a record 175.1 bus an acre, up from 168.4 bus in 2015. Soybean production was forecast at a record 4,060 million bus, up 3% from 3,929 million bus in 2015 and compared with the average of trade expectations at 3.9 billion bus. Average soybean yield was forecast at 48.9 bus an acre, up from Continued on Page 8 s the 2016 winter wheat harvest was wrapped up and the spring wheat harvest approached the halfway mark, wheat futures were trading just above contract and 10-year lows. In recent weeks, Kansas City and Chicago wheat futures traded below $4 a bu for the first time since 2005 (the K.C. September on July 5 and the Chicago September on Aug. 2). Wheat futures were forecast to remain mostly range-bound near current levels in the next few months by analysts interviewed by Milling & Baking News. With the supply side of the wheat supply-demand equation largely known for 2016-17, and a large or even record large fall crop harvest set to begin, it seemed only an export demand-driven surprise stood much chance of rallying U.S. wheat markets in the near term. Steve Freed, vice-president, ADM Investor Services, Chicago, said the reason for the plunge in wheat futures in the last several weeks was simple, "There's too much wheat in the world. Wheat prices first were on the defensive because of the growing crop here in the United States and recognition the 2017 carryover may Continued on Page 25 Solid progress at Kellogg recorded in key areas of focus BATTLE CREEK, MICH. - Last fall, Deanie Elsner, president of U.S. Snacks at The Kellogg Co., laid out four key priorities for the Battle Creek-based company during 2016. A little more than eight months later, a progress report on the priorities indicates the company is on track. The company's first priority was to expand margins. To accomplish this, Kellogg set out to drive significant productivity through Project K and zerobased budgeting. "I'm happy to say that we are on track with these savings," Ms. Elsner said during an Aug. 4 conference call with analysts to discuss second-quarter results. "We are also institutionalizing a broader, more disciplined approach to revenue growth management. We have started with Cheez-It, where we evaluated the price point of our offerings across channels, from large sizes to on-the-go and single-serve. And we are Continued on Page 9 http://www.bakingbusiness.com http://www.foodbusinessnews.net

Table of Contents for the Digital Edition of Milling & Baking News - August 16, 2016

Milling & Baking News - August 16, 2016
Grain Market Roundtable - Low wheat prices may linger barring an export surprise
Solid progress at Kellogg recorded in key areas of focus
Late News - U.S.D.A. sees record corn, soybean crops
Table of Contents
News Comment - Tough reality in whole wheat data
Editorial - A very consequential study for enriched grains
Business - Hearthside Food Solutions acquires Illinois-based Oak State Products
Flowers Foods faces Fair Labor Standards Act compliance review
Harriman of Whole Grains Council upbeat despite whole wheat slide
Private equity firm acquires Give and Go, sweet goods baker
North Dakota Mill expansion project nearly completed
Kellogg to close snacks plant in Indiana by end of 2017
Juan Luciano: ADM focused on strengthening and growing
Frozen bakery products company to build facility in Pennsylvania
Barilla faces lawsuit for alleged deceptive pasta box sizes
APHIS confirms discovery of bioengineered wheat in Washington
South Korea finds no unapproved wheat in imports; Japan awaiting validation
People - Maass named chief executive at The Scoular Co.
Sterrett Campbell, Baking Hall of Fame inductee, dies
Chief executive officer and president leave Agspring
Wubbolts to Corbion as chief technology officer
Industry Activities - F.D.A. deputy commissioner to address millers’ annual meeting
NAMA to move into new offices in September
Merchandising - Krispy Kreme adds international twist to menu
Plenty of corn all around
2016 soybean crop needs to be big
IBIE Preview - IBIE Innovation Showcase highlights wide ranging progress in baking technology
Data - Second-quarter flour output down 1.1%; daily capacity near record
Ingredient Market Trends - U.S.D.A. forecasts record corn and soybean crops, raises wheat estimate
Ingredient Week
Supplier Innovations
Classifieds
Marketplace Business Network
Ad Index
Archive

Milling & Baking News - August 16, 2016

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