World Grain - June 2013 - 15

A flour art museum story | No. 4

newsreview
Income falls for Seaboard trading, milling unit
SHAWNEE MISSION, KANSAS, U.S. — Operating income of the Commodity Trading
and Milling Division of Seaboard Corp. in the first quarter ended March 30 decreased 52%
to $12,328,000 from $25,693,000 in the same period a year ago, reflecting lower margins on
commodity trading sales to third parties and non-consolidated affiliates, especially on sales
of wheat and corn. Excluding mark-to-market adjustments, operating income in the quarter
fell to $4,000,000 from $19,400,000.
Division sales totaled $800,754,000, up 11% from $724,538,000 in the first quarter of
fiscal 2012. Seaboard said the increase reflected higher prices for wheat and soybean meal
during the quarter.
Operating income in the company’s Pork segment totaled $32,264,000, down 39% from
$52,873,000 in the same period a year ago. Seaboard said the decrease was primarily a result
of lower prices for pork products and higher feed costs, partially offset by a one-time credit
of $11.3 million.
Net sales in the Pork segment increased 2% to $409,252,000 from $400,661,000.
Overall, Seaboard Corp. net income in the first quarter was $57,454,000, equal to $47.98
per share on the common stock, down 30% from $82,209,000, or $68 per share, in the first
quarter of fiscal 2012.
Net sales for the quarter totaled $1,582,296,000, up 8% from $1,471,113,000 in the same
period last year.

U.S. court sides with Monsanto in soybean case
WASHINGTON, D.C., U.S. — In a unanimous decision handed down May 13, the U.S. Supreme
Court sided with Monsanto in regards to the case of Bowman v. Monsanto Co. The ruling upholds
a Federal Circuit court ruling that said the issue of patent exhaustion does not apply to the case.
The case of Bowman v. Monsanto Co., involves an Indiana farmer, Vernon Hugh Bowman,
who initially planted bioengineered soybean seeds according to the parameters established by
Monsanto, the manufacturer. But he then bought cheaper seeds from a grain elevator to plant
a second crop that he hoped might also offer “Roundup Ready” protection.
That is because he knew that the less-expensive seeds had a significant chance of also being immune to the Roundup herbicide. Bowman’s maneuver to save money and circumvent
patent-related restrictions was illegal, in the opinion of Monsanto. Lower courts that ruled
on the case agreed.
Bowman’s case, though, hinged on a concept known as patenting’s “exhaustion doctrine,”
which asserts that it is possible to only sell a patented product once and keep the protection. Bowman replanted generic seeds — not the ones from Monsanto that he had signed an
agreement about — and therefore Bowman expected the exhaustion doctrine would apply.
Monsanto successfully argued in lower courts that seeds with the Roundup Ready gene in
them, wherever they were obtained, constituted a patent infringement if they were planted to
produce more soybeans without the knowledge of Monsanto.

Viterra to invest C$20 million to upgrade grain terminals
REGINA, SASKATCHEWAN, CANADA — Viterra Inc. said on May 15 that it is investing
more than C$20 million to upgrade four of its Saskatchewan grain terminals at White Star, Humboldt, Waldron and Ituna. The capital upgrades will result in increased rail capacity at the elevators, with White Star and Humboldt also having significant storage capacity added, Viterra said.
“This significant reinvestment in our grain handling network demonstrates our ongoing commitment to operational excellence and leadership in our industry,” said Kyle Jeworski, president and chief executive officer of Viterra North America. “By improving our rail and storage
capacities in targeted areas, we are creating further value for our farm customers at the local
level, as well as our suppliers and end use customers across North America and beyond.”
Viterra said storage capacity will increase threefold at White Star and double at Humboldt.
Meanwhile, rail capacity will expand at White Star, and further rail capacity expansions will
occur at Viterra’s Humboldt, Waldron and Ituna facilities to ensure a more efficient service
provider for the farming communities in those areas.
The facility upgrades are consistent with Glencore’s commitments to increase Viterra’s projected capital expenditures in Canada.
www.World-Grain.com / World Grain / June 2013

The white powder
rebellion
Once each year on December 28, the
day when the slaughter of the innocents by Herod is commemorated, the
town of Ibi near Alicante in Spain is
shrouded in white powder. With the
assistance of three tons of flour, thousands of eggs and any number of firecrackers, masked and grotesquely disguised insurgents foment a rebellion
that ends in a wild but harmless flour
fight. The spectacle is the only one like
it anywhere, and has been going on
for 200 years. It swathes whole neighbourhoods and their residents in white
powder if they should dare to resist
the demands of the rebels. Even the
mayor must let them have their way,
and gives over his office to the new
rulers for a day. Then “Els Enfarinats”
(the floured ones) enter city hall,
after first having collected “taxes”
from banks and businesses which later
go to charity.
www.flour-art-museum.de
www.muehlenchemie.de
For more information, see Page 110.

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http://www.flour-art-museum.de http://www.muehlenchemie.de http://www.World-Grain.com

World Grain - June 2013

Table of Contents for the Digital Edition of World Grain - June 2013

World Grain - June 2013
Table of Contents
From the editor-in-chief - A new measure of business success
Calendar of Events
News Review - Cargill to sell Swiss flour business
ADM: Geographic diversification critical to operations
Richardson completes acquisition of Viterra assets
Drought drops ADM’s first-quarter earnings
GrainCorp profit down 34%
ADM opens soybean processing facility in Paraguay
Income falls for Seaboard trading, milling unit
U.S. court sides with Monsanto in soybean case
Viterra to invest C$20 million to upgrade grain terminals
Gruma writes off Venezuela business
Olam earnings up 17% in first nine months
Bunge putting money behind ports
Wilmar earnings up 23% on oilseeds, grains
Vassart named Cargill Canada’s new president
CBH appoints new general manager, operations
Drought hurts The Andersons first-quarter earnings
Grain Market Review - Rice
Country Focus - Focus on France
Feature - Rising up from the ashes
Feature - The inside story of a groundbreaking trade agreement
Feature - 2013 IAOM Conference & Expo
The scoop on wheat innovation
Feature - Steady hand at the wheel
Feature - Sorghum milling study
Sorghum flour increasingly popular as gluten-free solution
European supplier profiles
Feature - Joseph Rank honored with exhibition
Supplier News
Product Showcase
World Grain Archive
Ad Index/Reader Information Form International Faxback Program
World Grain - June 2013 - World Grain - June 2013
World Grain - June 2013 - 2
World Grain - June 2013 - 3
World Grain - June 2013 - 4
World Grain - June 2013 - Table of Contents
World Grain - June 2013 - From the editor-in-chief - A new measure of business success
World Grain - June 2013 - 7
World Grain - June 2013 - Calendar of Events
World Grain - June 2013 - 9
World Grain - June 2013 - ADM: Geographic diversification critical to operations
World Grain - June 2013 - 11
World Grain - June 2013 - Richardson completes acquisition of Viterra assets
World Grain - June 2013 - Drought drops ADM’s first-quarter earnings
World Grain - June 2013 - ADM opens soybean processing facility in Paraguay
World Grain - June 2013 - Viterra to invest C$20 million to upgrade grain terminals
World Grain - June 2013 - Olam earnings up 17% in first nine months
World Grain - June 2013 - Wilmar earnings up 23% on oilseeds, grains
World Grain - June 2013 - Drought hurts The Andersons first-quarter earnings
World Grain - June 2013 - 19
World Grain - June 2013 - Grain Market Review - Rice
World Grain - June 2013 - 21
World Grain - June 2013 - Country Focus - Focus on France
World Grain - June 2013 - 23
World Grain - June 2013 - 24
World Grain - June 2013 - 25
World Grain - June 2013 - Feature - Rising up from the ashes
World Grain - June 2013 - 27
World Grain - June 2013 - 28
World Grain - June 2013 - 29
World Grain - June 2013 - Feature - The inside story of a groundbreaking trade agreement
World Grain - June 2013 - 31
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World Grain - June 2013 - 33
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World Grain - June 2013 - 40
World Grain - June 2013 - 41
World Grain - June 2013 - Feature - 2013 IAOM Conference & Expo
World Grain - June 2013 - 43
World Grain - June 2013 - The scoop on wheat innovation
World Grain - June 2013 - 45
World Grain - June 2013 - 46
World Grain - June 2013 - 47
World Grain - June 2013 - 48
World Grain - June 2013 - 49
World Grain - June 2013 - 50
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World Grain - June 2013 - 52
World Grain - June 2013 - 53
World Grain - June 2013 - Feature - Steady hand at the wheel
World Grain - June 2013 - 55
World Grain - June 2013 - 56
World Grain - June 2013 - 57
World Grain - June 2013 - 58
World Grain - June 2013 - 59
World Grain - June 2013 - 60
World Grain - June 2013 - 61
World Grain - June 2013 - Feature - Sorghum milling study
World Grain - June 2013 - 63
World Grain - June 2013 - 64
World Grain - June 2013 - Sorghum flour increasingly popular as gluten-free solution
World Grain - June 2013 - 66
World Grain - June 2013 - 67
World Grain - June 2013 - European supplier profiles
World Grain - June 2013 - 69
World Grain - June 2013 - 70
World Grain - June 2013 - 71
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World Grain - June 2013 - Feature - Joseph Rank honored with exhibition
World Grain - June 2013 - 99
World Grain - June 2013 - Supplier News
World Grain - June 2013 - 101
World Grain - June 2013 - 102
World Grain - June 2013 - 103
World Grain - June 2013 - 104
World Grain - June 2013 - 105
World Grain - June 2013 - 106
World Grain - June 2013 - 107
World Grain - June 2013 - Product Showcase
World Grain - June 2013 - World Grain Archive
World Grain - June 2013 - Ad Index/Reader Information Form International Faxback Program
World Grain - June 2013 - 111
World Grain - June 2013 - 112
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http://digital.world-grain.com/sosland/wg/2007_08_01
http://digital.world-grain.com/sosland/wg/2007_07_01
http://digital.world-grain.com/sosland/wg/2007_06_01
http://digital.world-grain.com/sosland/wg/2007_05_01
http://digital.world-grain.com/sosland/wg/2007_04_01
http://digital.world-grain.com/sosland/wg/2007_03_01
http://digital.world-grain.com/sosland/wg/2007_02_01
http://digital.world-grain.com/sosland/wg/2007_01_01
http://digital.world-grain.com/sosland/wg/2006_12_01
http://digital.world-grain.com/sosland/wg/2006_11_01
http://digital.world-grain.com/sosland/wg/2006_10_01
http://digital.world-grain.com/sosland/wg/2006_09_01
http://digital.world-grain.com/sosland/wg/2006_08_01
http://digital.world-grain.com/sosland/wg/2006_07_01
http://digital.world-grain.com/sosland/wg/2006_06_01
http://digital.world-grain.com/sosland/wg/2006_05_01
http://digital.world-grain.com/sosland/wg/2006_04_01
http://digital.world-grain.com/sosland/wg/2006_03_01
http://digital.world-grain.com/sosland/wg/2006_02_01
http://digital.world-grain.com/sosland/wg/2006_01_01
http://digital.world-grain.com/sosland/wg/2005_12_01
http://digital.world-grain.com/sosland/wg/2005_11_01
http://digital.world-grain.com/sosland/wg/2005_10_01
http://digital.world-grain.com/sosland/wg/2005_09_01
http://digital.world-grain.com/sosland/wg/2005_08_01
http://digital.world-grain.com/sosland/wg/2005_07_01
http://digital.world-grain.com/sosland/wg/2005_06_01
http://digital.world-grain.com/sosland/wg/2005_05_01
http://digital.world-grain.com/sosland/wg/2005_04_01
http://digital.world-grain.com/sosland/wg/2005_03_01
http://digital.world-grain.com/sosland/wg/2005_02_01
http://digital.world-grain.com/sosland/wg/2005_01_01
http://digital.world-grain.com/sosland/wg/2004_12_01
http://digital.world-grain.com/sosland/wg/2004_11_01
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com