Caribbean Millers' Association

Miller Milling increases capacity in California

June 30, 2008

Miller Milling Co. is increasing milling capacity at its Fresno, California, U.S., mill by 4,000 cwts in a project that will raise capacity to 10,000 cwts.

Source: World-Grain

Kansas wheat cleared of confinement by KDA

June 25, 2008

The Kansas Department of Agriculture (KDA) said June 25 that previously confined Kansas wheat has been tested and found to have safe levels of fungicide residue. The wheat was from three elevators and 20 fields covering 1,545 acres in south-central Kansas.

Source: World-Grain

Canadian wheat and oilseed area up

June 24, 2008

Canadian farmers planted a record large area to canola and significantly increased plantings of other oilseeds and wheat "in response to robust crop prices" while reducing area planted to oats and feed grains and fields traditionally left as summer fallow, Statistics Canada said June 24 in its principle field crop acreage report.

Source: World-Grain

CWB chair responds to prime minister's remarks

June 24, 2008

Larry Hill, chair of the Canadian Wheat Board’s (CWB) farmer-controlled board of directors, released the following statement June 23. The statement was issued in response to comments Canadian Prime Minister Stephen Harper made on June 20 regarding the government's agenda to dismantle the single wheat desk marketing system

Source: World-Grain

ADM opens new grain elevator in Illinois, U.S.

June 24, 2008

Archer Daniels Midland Company (ADM) opened a grain storage elevator in Taylorville, Illinois, U.S, with a storage capacity of 5,000,000 bushels the company announced June 24.

Source: World-Grain

CWB launches new delivery choice program for farmers

June 20, 2008

The Canadian Wheat Board (CWB) announced June 19 the new GrainFlo delivery system, an optional method for western Canadian grain producers.

Source: World-Grain

ADM details impact of flooding on operations

June 20, 2008

Archer Daniels Midland Co. said flooding throughout the Midwest has forced it to close two grain elevators, in Gulfport, Ill., and Keithsburg, Ill., and a corn wet mill in Cedar Rapids, Iowa, U.S.

Source: World-Grain

Caravan expands marketing efforts with new hires

June 16, 2008

Caravan Ingredients has named two individuals to new roles in the company’s marketing department.

Source: World-Grain

Cont'd..........................................

Rains help boost 2008 crop estimates, cold spring a concern

June 12, 2008

The CWB today released its preliminary crop forecasts, projecting a western Canadian wheat and durum crop of 21.2 million tonnes in the 2008 crop year, up from last year’s 18.4 million tonnes but below the five-year average of 22.1 million tonnes.

Source: Canadian Wheat Board

U.S Wheat Associates Wheat Letter

June 12, 2008

In This Issue:
1. SW Technical Exchange Sheds Light on New Varieties
2. Rain in the Plains Help the 2008 Winter Wheat Outlook
3. USW Supports Maximum Residue Limit Database
4. Monsanto Commits to Wheat Research
5. Emerson Trust Depleted
6. Wheat Industry News

Source: World-Grain

Cont'd...................................

U.S. Eyes Are On Competing Export Countries

June 3, 2008

As the 2008 wheat harvest is about to begin in Kansas, it’s a good time to review the just-completed 2008 market year and glance at the wheat conditions in our major competitor wheat export countries.

Source: Kansas Wheat Commission

Canadian wheat production up 24%, other grains down

June 3, 2008

Total Canadian production of barley, corn and oats is forecast to decrease by 13% in 2008-09 from 2007-08 production levels, the United States Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) recently said.

Source: World-Grain

Cont'd...........................................

Average price of all wheat drops $1.20 in May

June 3, 2008

The preliminary national average price received by farmers for all wheat in May was $8.80 per bushel, down $1.20 from $10 in April but $3.92 above the May 2007 average of $4.88, the U.S. Department of Agriculture (USDA) said in its May Agriculture Prices report

Source: World-Grain

Cont'd.........................................

Rice prices predicted to bounce back

May 30, 2008

A recent decline in rice prices probably will not continue, and the market is likely to resume its upward trend, an LSU AgCenter AgCenter economist said at the Evangeline Parish Rice Field Tour.

Gene Johnson said current speculators, turned off by the downturn in the stock market, bought into commodities to make quick profits, and that caused prices to decline somewhat.

Source: Delta Farm Press

Cont'd......................................

Government policy, ethanol and rising food prices

May 29, 2008

As concerns about rising gasoline and food prices continue to swirl, corn ethanol is being pointed at as a causative factor. Is that the case and, if so, can it be easily reversed?

On May 7, the U.S. Senate Committee on Homeland Security and Government Affairs held a hearing on fuel subsidies and their impact on food prices. Bruce Babcock, director of the Center for Agricultural and Rural Development at Iowa State University, was one of those invited to testify.

Source: Delta Farm Press

Cont'd.............................................

Average price of all wheat drops 50¢ a bushel in April

May 05, 2008

The preliminary national average price received by farmers for all wheat in April was $10.10 per bushel, down 50¢ from $10.60 in March but $5.21 above the April 2007 average of $4.89, the U.S. Department of Agriculture (USDA) said in its April Agricultural Prices report

Source: World-Grain

ADM profit climbs 42% in third quarter

April 29, 2008

Boosted by a dramatic increase in profits in its ag services division, Archer Daniels Midland Co. (ADM) posted overall third-quarter net income of $517 million, equal to 80¢ per share on the common stock, up 42% from $363 million, or 56¢ per share, in the same period a year ago.

Source: World-Grain

U.S. bakers balk at changes to wheat futures contracts

April 28, 2008

Concern about changes in wheat futures contracts that could further increase market volatility was voiced this week by baking industry representatives at a Commodity Futures Trading Commission (CFTC) agricultural forum in Washington, D.C., U.S.

Source: World-Grain

Cont'd..............................................

U.S Wheat Associates Wheat Letter

April 17, 2008

In this Issue:
1. Ag Secretary Confirms Commitment to Open Market
2. U.S.-Colombia Trade Promotion Agreement in Doubt
3. Taiwan Team Finishes Strong in the World Cup of Baking
4. There is Little Wheat Left in U.S. Grain Bins
5. U.S. Wheat Industry Active at Food Aid Conference
6. Pasta Benefits Get International Exposure
7. Public Invited to Monitor U.S. Futures Market Hearing
8. Wheat Industry News

Source: World-Grain

U.S Wheat Associates Wheat Letter

April 3, 2008

In This Issue:
1. A Revealing Journey
2. Wheat Growers and the Colombian People Deserve a Free Trade Agreement
3. High Wheat Prices Challenge Millers, Bakers
4. Supply Concerns Addressed
5. Board Team Members Share Their Impressions
6. U.S. Wheat Acres Climb on Price Incentives

Source: U.S Wheat Associates

Cont'd.........................................

Average price of all wheat soars to $11.70 in March

April1, 2008

The preliminary average price received by farmers in the United States for all wheat in March reached a record high of $11.70 per bushel, up $1.72 from $9.98 in February and $6.95 above the March 2007 average of $4.75, the U.S. Department of Agriculture (USDA) said in its March Agriculture Prices report

Source: World-Grain

Cont'd............................................

Russia to extend grain export duty to July 1

March 21, 2008

The government commission for protective measures in foreign trade and customs tariff policy approved the extension of export duties on wheat, barley and wheat/rye mix until July 1, a source on the commission said.

Source: World-Grain

U.S. Grains Council says DDGS making way into Chinese market

March 21, 2008

China is one of the latest countries to import U.S. distiller’s dried grains with solubles (DDGS), having recently purchased 150 tonnes from U.S. Grains Council member Midwest Ag Enterprises. Fifty tonnes of U.S. DDGS arrived at Tianjin Port on March 14 and were shipped to a USGC partner farm 37 miles east of Beijing after clearing customs.

Source: World-Grain

Cont'd...........................................

US watch on Australian wheat crop

March 19, 2008

US agriculture officials are keeping a close eye on Australian wheat growing conditions this season, as the lowest world wheat stocks in 30 years lead to skyrocketing prices for US wheat futures.

Source: World-Grain

Soft red winter wheat crop to be largest since 1989

March 19, 2008

Participants at an annual meeting of the Soft Wheat Division of the North American Millers’ Association (NAMA) in Palm Coast, Florida, U.S. on March 18 were told by NAMA that the projection for soft red winter wheat production in 2008 is 547,856,000 bushels, up 189,959,000 bushels, or 53%, from 357,897,000 bushels last year.

Source: World-Grain

Cont'd.............................................

Egypt's wheat production stable

March 18, 2008

recent U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) report indicated that Egypt's wheat area and production remain relatively stable and output is projected at just under 8.3 million tons in 2008-09.

Source: World-Grain

Cont'd..........................................

Group of bakers presses case for action on wheat

March 18, 2008

In an impressive display of industry unity, 80 representatives of baking companies from around the United States (U.S.) gathered in Washington, D.C., U.S. on March 12 to express concern over record dramatic advances in wheat prices. The March on Washington was organized by the American Bakers Association (ABA).

Source: World-Grain

Cont'd.........................................

KCBT approves side-by-side trading of hard red winter wheat

March 17, 2008

The Kansas City Board of Trade board of directors has approved the addition of side-by-side trading in the hard red winter wheat options contract. A second daily electronic trading session will be added to mirror the open outcry trading hours of 9:30 a.m. to 1:15 p.m. Monday through Friday.

Source: World-Grain

AFIA board told to expect a major runup in food prices

March 14, 2008

Consumers will see another major runup in food prices this summer due to rapidly increasing animal feed costs, a result of competition for corn and oilseeds between livestock and poultry feeding and alternative fuels production, the American Feed Industry Assosiation (AFIA) board of directors was told at its recent meeting.

Source: World-Grain

Zimbabwe's maize, wheat production will not meet demand

March 13, 2008

A recent U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) report on Zimbabwe noted that once again the African nation, which was once a net exporter of food products, will not be able to produce enough maize (corn) to meet its domestic maize requirements.

Source: World-Grain

USW, NAWG issue statement on wheat supply, prices

March 13, 2008

In response to the American Baker's Association march on Washington to draw attention to record high wheat prices, Alan Tracy, president, U.S. Wheat Associates and Daren Coppock, chief executive officer, National Association of Wheat Growers issue the following joint statement on March 12.

Source: World-Grain

Ecuador's wheat production rises, imports decline slightly

March 13, 2008

A recent U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) report on Ecuador indicated that while the Andean nation's wheat production would likely increase to 6,000 tonnes, due to its farmers being motivated by high international prices, the production level will still be insufficient to meet the current demand.

Source: World-Grain

Food industry mergers, acquisitions strong in 2007

March 12, 2008

The food industry completed 413 merger and acquisition transactions and agreed upon 60 more during 2007, according to Food Business Mergers & Acquisitions, a publication of The Food Institute. In comparison, the food industry completed 392 transactions in 2006 and had 59 others under agreement at the end of the year.

Source: World-Grain

Bakers march on Washington, announce plan for 'wheat crisis'

March 12, 2008

Bakers and other allied groups joined forces in Washington, D.C., on March 12 to draw attention to record high wheat prices and tight supplies. "It is crucial that the White House, our elected representatives, and the Department of Agriculture hear first-hand how bakers and others wheat users, including consumers, are struggling with current market conditions.

Source: World-Grain

USDA says wheat ending stocks decline further

March 11, 2008

The U.S. Department on Agriculture noted in its World Agricultural Supply and Demand Estimates (WASDE), which it released on March 11, that U.S. wheat ending stocks for 2007-08, already projected to be the lowest since 1946-47, are estimated lower by 30 million bushels this month on higher projected food use and exports. Ending stocks are projected at 242 million bushels with stocks-to-use dropping to 10%

Source: World-Grain

USGC leadership visits with Australian agriculture officials

March 7, 2008

The 2008 U.S. Grains Council (USGC) Officer’s Mission to Australia started in early March in Canberra, Australia where council leadership met with officials from Australia’s Department of Agriculture, Fisheries and Forestry. Joel Freemen, policy and technical officer with the Australia Quarantine Inspection Service, said Australian farmers are currently facing the worst drought in 80 to 100 years.

Source: World-Grain

Syria's wheat production estimated down, consumption up

March 7, 2008

A report recently released by the U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) said that Syria's wheat production in 2007-08 is estimated at 4 million tons, down compared to the previous year due to a shortage of rain during the growing season. FAS said it is still early to give a good forecast for 2008-09 crop that could range from 4-4.8 million tons depending on rainfall amount and distribution.

Source: World-Grain

FAS reports Argentina's soybean crop in good condition

March 6, 2008

A recent U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) report on Argentina forecasts that nation's soybean production at 47 million tons on planted area totaling 17 million hectares.

Source: World-Grain

China's corn production estimated lower; wheat, rice higher

March 6, 2008

A report released by the U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) on March 1 said that China's corn (maize) production for the marketing year (MY) 2007-08 is estimated to be 137 million tonnes, down 6% from the previous year as a result of lower yield due to unfavorable weather conditions in the major production region. Corn production in MY 2008-09 is forecast at 143 million tonnes.

Source: World-Grain

FAPRI report shows grain prices high, net farm income strong

March 5, 2008

Grain prices increased dramatically in the last two years and are expected to remain well above pre-2006 levels, economists with the Food and Agricultural Policy Research Institute (FAPRI) said in a report given to the U.S. Congress and U.S. Department of Agriculture (USDA) on March 5.

Source: World-Grain

CWB says government taking back power from farmers

March 5, 2008

Legislation tabled on March 3 by the Canadian federal government would turn back the clock on farmer control and shift power from producers to grain companies, Canadian Wheat Board (CWB) officials said on March 4.

Source: World-Grain

Rising World Food Prices

March 4, 2008

The price of wheat has doubled in the past year - and it is not the only foodstuff trading at a high price on the international commodity market.

Things have got so bad that aid agencies are having to rethink their programmes.

Source: BBC World News

Average price of all wheat at $10.40 in February

March 4, 2008

The preliminary national average price received by farmers for all wheat in February was $10.40 per bushel, up $2.47 from $7.93 in January and $5.69 above the February 2007 average of $4.71, the U.S. Department of Agriculture (USDA) said in its February Agriculture Prices report

Source: World-Grain

Seaboard income down 30% in year

March 4, 2008

For the year ended Dec. 31, Seaboard Corp. posted net earnings of $181,322,000, equal to $144.15 per share on the common stock, down 30% from $258,689,000, or $205.09 per share, during 2006. Seaboard’s sales for the year were $3,213,301,000, up 19% from $2,707,397,000 during the previous year.

Source: World-Grain

Government of Canada to introduce amendments to CWB Act

March 3, 2008

Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board announced on Feb. 29 that the Conservative party will introduce in the House of Commons an Act to amend the Canadian Wheat Board (CWB) Act and chapter 17 of the Statutes of Canada, 1998.

Source: World-Grain

GEAPS honors 27 companies for outstanding safety performance

February 28, 2008

The Grain Elevator and Processing Society (GEAPS) honored 27 companies at Exchange 2008 in Omaha, Nebraska for their outstanding safety records last year. The companies, representing 387 separate grain facilities, recorded nearly 13.1 million employee hours without a work-related lost-time injury or illness during 2007

Source: World-Grain

Feed industry bar code standards updated

February 28, 2008

The American Feed Industry Association’s (AFIA) Information Technology Committee, and industry partners AgGateway and GS1 US, have announced a major overhaul of the Bar Code Guidelines first introduced by AFIA in the mid-1990’s.

Source: World-Grain

South Korea buys 697,000 tonnes of biotech corn for food use

February 27, 2008

The U.S. Grains Council (USGC) noted on Feb. 27 that South Korea has recently purchased the country’s first shipment of biotech corn via optional origin for the use of food purposes

Source: World-Grain

GEAPS appoints new leaders

February 27, 2008

On Feb. 26 at the Grain Elevator and Processing Society's (GEAPS) annual meeting, held in conjunction with GEAPS Exchange 2008, the organization announced its new leaders and its Associate member leaders.

Source: World-Grain

Wheat, corn, soy futures set record highs

February 27, 2008

Wheat futures in Kansas City, Minneapolis and Chicago, and corn, soybean and soybean oil futures in Chicago set new record highs this week.

Source: World-Grain

CWB introduces online contract sign-up for farmers

February 25, 2008

As of today, Prairie farmers who choose to take advantage of the CWB’s Fixed Price Contract (FPC) or Basis Price Contract (BPC) can sign up online and receive instant confirmation of their transaction.

Source: Canadian Wheat Board

USGC promotes U.S. sorghum to new users in Europe

February 25, 2008

Feed industry representatives in Europe received further exposure to U.S. sorghum as the U.S. Grains Council conducted a series of workshops on the continent last week. The Council hosted seminars in Ireland, England, the Netherlands and France.

Source: World-Grain

Riviana breaks ground on rice processing facility in Memphis

February 25, 2008

Riviana Foods Inc. broke ground on Feb.22 on its new state-of-the-art rice processing and packaging plant and on-site warehouse and distribution center in Memphis, Tennessee, U.S. The new 400,000-square-foot facility is due for completion in 2010.

Source: World-Grain

Ethanol industry was economic bright spot in 2007

February 25, 2008

According to an economic analysis released on Feb. 25 on the economic impacts of the U.S. ethanol industry in 2007, the industry stands in sharp contrast to other industries which have outsourced their jobs to foreign nations, according to the Renewable Fuels Association.

Source: World-Grain

High prices, sustainability top grains conference agenda

February 21, 2008

As grain prices hit record highs from scarce world supplies, Canada’s premiere grains conference examines the sustainability of grain production amid growing global demand for food and biofuels.

Source: Canadian Wheat Board

U.S. Wheat Associates Wheat Letter

February 21, 2008

In This Issue:
1. Wheat Supply Situation Will Not Lead to Intervention
2. Growing Demand Deserves More Attention
3. Wheat Production Heading Back Up
4. The Time Has Come to Open Trade with Cuba
5. Colombia Trade Agreement is Good for U.S. Wheat Producers
6. Wheat Industry News

Source: U.S Wheat Associates

USDA raises agricultural exports forecast to $101 billion

February 21, 2008

At the U.S. Department of Agriculture (USDA) Agricultural Outlook Forum on Feb. 21, Secretary Ed Schafer announced that U.S. agricultural exports are forecast to reach a record $101 billion for fiscal year 2008, up $10 billion from November's forecast and an unprecedented $19 billion above 2007.

Source: World-Grain

ConAgra third-quarter EPS to be higher than planned

February 20, 2008

ConAgra Foods, Inc. announced it is expecting future annual earnings per share growth of 8% to 10%, sales growth exceeding 4% in the near term and in the range of 4% in the long term, as well as return on invested capital to exceed 12% in the near term and 13% over the long term.

Source: World-Grain

General Mills raises 2008 and 2010 profit outlooks

February 20, 2008

General Mills, Inc. on Feb. 19 raised its fiscal 2008 earnings guidance to a range of $3.45 to $3.47 per share, up from its earlier estimate of $3.39 to $3.43. The company said strong net sales growth and successful cost-saving efforts are helping counter higher input costs. In fiscal 2007, the company earned $3.18 per share.

Source: World-Grain

ContiGroup changing name back to Continental Grain

February 20, 2008

Nine years after selling its worldwide commodity marketing business, ContiGroup Companies, Inc. is changing its name back to Continental Grain Co.

Source: World-Grain

Australia's grain production up 30%; below five-year average

February 19, 2008

The Australian Crop Report, which was released on Feb. 19 by the Australian Bureau of Agricultural and Resource Economics (ABARE) Executive Director Phillip Glyde, forecasts that Australia's total winter grains production will be around 22.6 million tonnes in 2007-08, up by 30% from the previous year but well below the five-year average of 35 million tonnes.

Source: World-Grain

U.S. flour exports soar 109% after years of decreases

February 19, 2008

After seven consecutive years of decreases, exports of wheat flour from the United States (U.S.) increased in 2007, rising 109% from the prior year. Based on monthly data provided by the Foreign Trade Division of the Census Bureau, U.S. flour exports in the past calendar year aggregated 7,143,000 cwts, contrasted with 3,418,000 in the prior year.

Source: World-Grain

U.S. durum semolina output rises 2% in 2007

February 15, 2008

Production of straight semolina and durum flour by U.S. mills in 2007 increased to a six-year high of 32,576,000 cwts, up 2% from 31,948,000 in 2006, according to the Census Bureau of the U.S. Department of Commerce. This was the largest semolina production since 32,930,000 in 2001.

Source: World-Grain

CWB, Canadian government at impasse over barley marketing

February 15, 2008

Following their meeting on Feb. 12 in Ottawa, Ontario, Canada neither representatives of the Canadian Wheat Board (CWB) nor the Honorable Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board seemed positive about the discussion.

Source: World-Grain

Japan's MAFF raises average price of imported wheat by 30%

February 15, 2008

The Japanese Ministry of Agriculture, Forestry and Fisheries (MAFF) announced on Feb. 15 that it would raise the average price of imported wheat by 30% to 69,120 yen ($641) per tonne from April. This is a response to the sharp increase in the international price of wheat.

Source: World-Grain

Spring wheat tightness triggers controversy in North Dakota

February 14, 2008

It may be expected record high prices for spring wheat would trigger unequivocal celebration throughout the state of North Dakota. Not exactly.

The North Dakota Mill & Elevator, a state-owned flour mill located in Grand Forks, found itself in the midst of a controversy after gaining permission to import wheat from Canada in the event local supplies dry up.

Source: World-Grain

USGC told foreign demand, weak dollar spurring U.S. exports

February 14, 2008

Surging foreign demand, a weak U.S. dollar and unprecedented growth in the global economy are the driving forces behind increasing rates of U.S. agricultural exports, Mike Dwyer, chief economist with the Foreign Agricultural Service at the U.S. Department of Agriculture, told the U.S. Grains Council members at the council’s 5th International Marketing Conference and 48th Annual Membership meeting in San Antonio, Texas, U.S.

Source: World-Grain

U.S. wheat flour output in 2007 close to record

February 14, 2008

Production of wheat flour by U.S. mills in 2007 increased 4.4% over 2006 to the second largest total on record and less than 1% below the record in 2000, according to data issued by the Census Bureau of the U.S. Department of Commerce. Output in the 2007 calendar year aggregated 417,574,000 cwts, up 17,714,000 from 399,860,000 in 2006 and only 3,696,000, or 0.9%, less than the record of 421,270,000 in 2000.

Source: World-Grain

Cont'd...........................................

Brazil temporarily lowers wheat import tariff

February 14, 2008

The Agricultural Attaché at the United State's Brazilian Embassy, Elizabeth Autry, prepared a report noting that in response to fears of inflation fueled by Argentine restrictions on wheat exports, on Feb. 6 Brazil's International Trade Council (CAMEX) published Resolution No. 8 in the Diario Oficial (Brazil’s Federal Register).

Source: World-Grain

FAO sees big jump in 2008 cereal production, but also high prices

February 13, 2008

Early prospects point to the possibility of a significant increase in world cereal production in 2008, but international prices of most cereals remain at record high levels and some are still on the increase, FAO said on Feb. 13.

Source: World-Grain

Fire at ADM corn processing plant kills two

February 13, 2008

Two workers at an Archer Daniels Midland Co. (ADM) corn processing plant were killed in the evening on Feb. 10 following a fire that broke out in an air handling unit at the facility.

Source: World-Grain

CN Rail, Canadian grain industry enter into another conflict

February 13, 2008

Six Prairie grain shippers have applied to the Canadian Transportation Agency (CTA) for emergency relief after CN Rail introduced a new system for rail car allocation in the grain industry, throwing the shipping season into disarray midway through the crop year, the Canadian Wheat Board (CWB) said on Feb. 12.

Source: World-Grain

CME, KCBT, MGEX set price limit expansion for wheat futures

February 11, 2008

CME Group, the Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX) announced on Feb. 9 that all three exchanges will implement new price limits for Wheat futures and mini-sized Wheat futures on Feb. 10 for trade date Feb. 11.

Source: World-Grain

U.S. flour production gain capped by robust fourth quarter

February 11, 2008

In what could be described as a "breakout year" for grain-based foods, U.S. flour production in 2007 increased to 417,574,000 cwts, up 17,714,000, or 4.4%, from 399,860,000 in 2006, according to preliminary estimates issued Feb. 8 by the U.S. Department of Commerce’s Bureau of the Census.

Source: World-Grain

U.S. Wheat Associates Wheat Letter

February 8, 2008

In this Issue:
1. World Wheat in Uncharted Territory
2. U.S. Wheat Industry Leaders Meet in Washington, D.C.
3. Oklahoman Don Schieber Elected USW Secretary-Treasurer
4. USW Supports Port Expansion
5. Wheat Industry News

1. World Wheat in Uncharted Territory
by Joe Sowers, USW Senior Market Analyst

[
The global wheat situation enters the 2008 calendar year in uncharted territory. Global stocks are at their lowest level in 30 years, while U.S. stocks are at a 60-year low, spurring prices to new records. Despite high prices, global demand continues to rise.

Source: U.S Wheat Associates

Wheat Foods Council educates urban populace

February 8, 2008

The Wheat Foods Council’s (WFC) communication efforts are addressing the tremendous challenges that we face to educate the urban populace that our nation’s safe, affordable food supply begins at the farm. By being a member of the Council, Kansas Wheat helps to amplify the importance of agriculture and nutrition to a wide and diverse urban audience.

Source: Kansas Wheat Commission

Wheat carryover smallest since 1946-47

February 8, 2008

Carryover of U.S. wheat on June 1, 2008, was projected at 272 million bushels, down 20 million bushels, or 7%, from January, and down 184 million bushels, or 40%, from a year earlier and the smallest since 1946-47, the U.S. Department of Agriculture said in its Feb. 8 World Agricultural Supply and Demand Estimates.

Source: World-Grain

Spring wheat prices move skyward on supply outlook

February 8, 2008

Hard red spring wheat futures prices and cash wheat premiums in Minneapolis skyrocketed in recent weeks on mounting concerns supply at least of quality wheat of that class will be depleted before the 2008 crop begins to flow into marketing channels.

Source: World-Grain

Bunge earnings climb 49% in 2007

February 7, 2008

Bunge Ltd. posted net income of $778 million in the fiscal year ended Dec. 31, up 49% from $521 million. Net sales soared 71% to $44.8 billion from $26.2 billion. The strong full-year results came despite a difficult fourth quarter in which profit was weighed down by restructuring and other charges.

Source: World-Grain

The Andersons, Inc. reports record earnings

February 7, 2008

The Andersons, Inc. on Feb. 6 announced record earnings for the fiscal year and fourth quarter with its net income for fiscal 2007 of $68.8 million, up 90% from $36.3 million in 2006. The company's fourth-quarter net income was $23.5 million, up 70% from $13.8 million in the same period last year.

Source: World-Grain

ADM appoints new CFO, director to board

February 6, 2008

Archer Daniels Midland Company (ADM) announced on Feb. 6 that Steven R. Mills, currently senior vice-president, Strategic Planning, will become executive vice-president and chief financial officer (CFO), succeeding Douglas Schmalz, who will retire from the company after more than 23 years of service. Mills will assume his new role on March 1.

Source: World-Grain

Corn Products International's annual net income up 60%

February 5, 2008

Corn Products International, Inc. announced on Feb. 5 that its net income for the 2007 fiscal year ended Dec. 31 had increased 60% to $198 million compared with prior-year net income of $124 million. Corn Products International also recorded net income of $46 million in the fourth quarter of 2007, a 40% increase over $33 million last year.

Source: World-Grain

Average price of all U.S. wheat at $8.55 in January

Februay 5, 2008

The preliminary national average price received by farmers for all wheat in January was $8.55 per bushel, up 81¢ from $7.74 in December and $4.02 above the January 2007 average of $4.53, the U.S. Department of Agriculture (USDA) said in its January Agriculture Prices report (click here to read report).

Source: World-Grain

MGEX shatters January trading records

February 4, 2008

The Minneapolis Grain Exchange’s (MGEX) announced on Feb. 1 that continued high volatility in the Hard Red Spring Wheat contract contributed to another record-setting month. The Exchange closed January trading with another all-time daily electronic volume record — the fourth new top daily volume record this month.

Source: World-Grain

KCBT January trading reaches near-record level

February 4, 2008

The Kansas City Board of Trade (KCBT) announced on Feb. 1 that its trading volume for the month of January was the second largest for that calendar month in the history of the exchange. Total exchange volume amounted to 352,893 contracts, an increase of 22.8% compared to last January and 69.5% compared to last month.

Source: World-Grain

Nominations solicited for milling operative of the year

February 4, 2008

Nominations are being accepted until April 4 for the 2008 "Milling Operative of the Year" award, which recognizes excellent performance by a miller. Established in 1986 by Milling & Baking News, sister publication to World Grain, the award will be presented in May to the practicing milling operative who has made the most significant contribution to the progress of a plant, a company and the industry from an operating point of view.

Source: World-Grain

Buhler, KSU to offer Executive Milling Course

February 4, 2008

Buhler Inc. and Kansas State University (KSU) are teaming up to offer an Executive Milling Course, March 10-14 at KSU’s grain science complex in Manhattan.

The flour milling course is designed for mill owners, directors and managers. No milling experience is required. Teaching the course will be Kendall McFall of KSU’s milling science department and Wolfgang Gruber of Buhler AG, Uzwil, Switzerland.

Source: World-Grain

ADM earnings climb 7% in Q2 on 50% sales spike

February 4, 2008

Archer Daniels Midland Co. (ADM), which released its second-quarter earnings on Feb. 4, reported that those earnings had increased 7%, buoyed by strong oilseed processing results and increased demand for feed grains. Net income in the second quarter ended Dec. 31 was $473 million, equal to 73¢ per share on the common stock, up from $441 million, or 67¢ per share, in the second quarter a year ago.

Source: World-Grain

KCBT Sees Second Largest January Volume

February 01, 2008

The Kansas City Board of Trade trading volume for the month of January was the second largest for that calendar month in the history of the exchange. Total exchange volume amounted to 352,893 contracts, an increase of 22.8 percent compared to last January and 69.5 percent compared to last month. This tally is second only to January 2006, which saw trading volume of 372,393 contracts.

Source: Kansas City Board of Trade

CWB appoints new president, CEO

January 31, 2008

The Honorable Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board, on Jan. 30 announced the appointment of Ian White as president and chief executive officer (CEO) of the Canadian Wheat Board (CWB). White has been appointed for a three-year term starting March 31.

Source: World-Grain

KCBT appoints officers, directors, outside directors for 2008

January 30, 2008

The Kansas City Board of Trade (KCBT) announced its 2008 officers and directors who took office at a regular board meeting held on Jan. 29. Members of the KCBT elected Jeffrey W. Voge, an individual member, as chairman in an election held earlier this month. Voge served as first vice-chairman of the KCBT in 2007 and as second vice-chairman in 2006. The first vice-chairman traditionally has assumed the chairmanship of the KCBT in the following year.

Source: World-Grain

Corn Products International's CEO to retire

January 30, 2008

Corn Products International, Inc. announced on Jan. 29 that Samuel C. Scott III, chairman, president and chief executive officer (CEO), has informed the board of directors of his intention to retire upon the identification of his successor. The board of directors will engage an executive search firm to help identify a successor to Scott, as chairman and CEO of the company, including internal and external candidates.

Source: World-Grain

NGFA recommends CME not increase futures price limits

January 29, 2008

The National Grain and Feed Association (NGFA) announced on Jan. 28 that it is recommending that the CME Group not implement any increases at this time in daily price limits on CBOT wheat, corn and soybean futures contracts, saying that doing so would create even greater financial exposure for commercial grain and oilseed hedgers already hard pressed to secure adequate capital to meet margin requirements on outstanding futures contracts.

Source: World-Grain

CWB says Peru trade deal good news for grain farmers

January 29, 2008

The successful conclusion of free-trade negotiations between Canada and Peru is welcome news for Prairie farmers who export over C$100 million worth of wheat and barley to Peru each year, CWB President and Chief Executive Officer Greg Arason said on Jan. 28.

Source: World-Grain

USGC sees export potential in India

January 28, 2008

The U.S. Grains Council (USGC) announced on Jan. 25 that it is engaged in assisting India’s growing commercial poultry processing industry with their strategic consumer marketing efforts.

Source: World-Grain

NutraCea in joint venture to build flour mill in Indonesia

January 28, 2008

One day after filing for provisional patent protection with the U.S. Patent and Trade Mark Office on its technology to stabilize wheat bran, Phoenix, Arizona, U.S.-based NutraCea on Jan. 25 said it reached agreement with Fortune Financing Overseas Ltd. to build a new flour mill in Indonesia that will incorporate the new technology. Fortune Financing is an affiliate of Pacific Advisors Holding Co., which is one of the largest flour mills in Southeast Asia.

Source: World-Grain

ARTCO, St. James Stevedoring Co. announce joint venture

January 17, 2008

American River Transportation Company (ARTCO), a wholly-owned subsidiary of Archer Daniels Midland Co. (ADM), and St. James Stevedoring Company LLC (SJS) announced on Jan. 16 the formation of a stevedoring joint venture. The venture will operate under the name of St. James Stevedoring Partners LLC and will be headquartered in Convent, Louisiana, U.S.

Source: World-Grain

CWB marketing strategy for 2007-08 focuses on record prices

January 17, 2008

The Canadian Wheat Board (CWB) announced on Jan. 16 that it will export 17 million tonnes of wheat, durum and barley this crop year, focusing its marketing strategy to take full advantage of current record-high prices for grain in the international marketplace.

Source: World-Grain

Wheat and Wheat Product's seminar to take place in Bangalore

January 17, 2008

An international seminar, "Wheat & Wheat Products — Vision 2020," is being held at Hotel Taj Westend, Bangalore, India, Feb. 8-9, 2008. The seminar is being organized by Wheat Products Promotion Society, Roller Flour Millers’ Federation of India, Karnataka Roller Flour Mills Association, All India Bread Manufacturer’s Association and Society of Indian Bakers.

Source: World-Grain

Pakistan deploy troops at mills to stop wheat flour smuggling

January 17, 2008

Pakistan-Wheat Crisis
Pakistan on Sunday deployed paramilitary troops at flour mills to check smuggling in view of the growing wheat flour crisis across the country, officials said.

Pakistan has been facing acute wheat flour shortage which has led to highest increase in its prices in recent weeks.

Source: Islamic Republic News Agency

2007 U.S. corn crop 24% larger than previous year

January 11, 2008

Corn production in the United States (U.S.) in 2007 will reach a record 13.1 billion bushels, according to the latest U.S. Department of Agriculture (USDA) Crop Production Report, released on Jan. 11.

Source: World-Grain

U.S. wheat ending stocks forecast at 60-year low

January 11, 2008

The World Agricultural Supply and Demand Estimates (WASDE) report, released on Jan. 11, projected 2007-08 U.S. wheat ending stocks at 292 million bushels, which would be the lowest in 60 years.

Source: World-Grain

CWB chair responds to CashPlus critics

January 11, 2008

Ken Ritter, chair of the CWB farmer-controlled board of directors, today issued the following statement about the CWB’s new program for malting barley in response to Minister Ritz and the industry.

Source: Canadian Wheat Board

U.S. Wheat Associates Wheat Letter

January 10, 2008

In This Issue:

1. There Was Only One “Rosie”
2. Wheat Supply and Government Policies
3. HRS Earns Premium as Buyers Search for Protein
4. Following the Wheat
5. Stay Informed About Transgenic Crops
6. Wheat Industry News

1. There Was Only One “Rosie”

U.S. Wheat Associates (USW) is sad to report that Rosemary Normand, executive assistant to USW President Alan Tracy and the organization’s convention planner, passed away unexpectedly Dec. 28, 2007, at her home in Alexandria, Va. Mr. Tracy shared this tribute to our colleague:

Source: US Wheat Associates

MGEX experiences record 2007

January 8, 2008

The Minneapolis Grain Exchange (MGEX) announced on Jan. 2 that it closed 2007 with record calendar-year volume, monthly volume and membership values. MGEX broke its all-time calendar-year trading volume with 1,826,807 contracts traded, which is 10% higher than the record set in 2006 (1,655,034 contracts traded).

Source: World-Grain

The Bulletin

January 8, 2008

At a glance

The CWB-WeatherBug network of farm-based weather stations has been named the top new technology in Canada for 2007 by the Canadian Association of Agri-Retailers (CAAR). The Top 10 list of agricultural products and technologies appeared in the December issue of CAAR’s Communicator publication. The grassroots weather network was launched by the CWB, WeatherBug and Pioneer Grain in August 2007 and has already attracted orders for hundreds of new stations across Western Canada.

Source: Canadian Wheat Board

Export prospects improve for rice, corn, wheat and beans

January 8, 2008

U.S. ending stock for corn, wheat, rice and soybean moved lower on higher export forecasts for those crops, released in December, while ending stocks for cotton moved higher on increased production. Here’s more from USDA’s world supply and demand estimates.

Source: Delta Farm Press

Cuban economy in need of nourishment

January 8, 2008

Increasing food production is the main challenge to be faced by the Cuban economy this year, to improve people's quality of life. It was one of the recurrent themes raised at the popular debates convened on the government's initiative in the second half of 2007.

"The agricultural sector is still a long way from satisfying the pressing need to get more goods to market, in order to bring prices down, cut imports, and elicit a favourable change in public opinion," admitted Osvaldo Martínez, chair of the commission on economic affairs in the National Assembly of People's Power, Cuba's parliament

Source: Caribbean 360 News

Cuba signs food import deals with Canadian firms

January 7, 2008

Cuba signed agreements Wednesday with two Canadian companies at the 25th Havana International Trade Fair to purchase 150,000 tons of wheat and 3,500 tons of powdered milk.

Pedro Alvarez, head of the state importing monopoly Alimport. AFP PHOTO

Pedro Alvarez, president of Cuba's largest importer Alimport, said the purchase agreements signed with the Canadian Wheat Board and the Canadian Dairy Commission confirm the island's willingness to continue developing trade relations with Canada.

Source: Caribbean Net News

ADM, MGSC and ISGS working on carbon sequestering project

January 7, 2008

Archer Daniels Midland Company (ADM), the Midwest Geological Sequestration Consortium (MGSC) and the Illinois State Geological Survey (ISGS) announced on Jan. 4 that they are working together on a carbon sequestration project.

Source: World-Grain

U.S. increases ability to produce ethanol

January 7, 2008

The Renewable Fuels Association (RFA) announced on Jan. 2 that the United States' ability to produce ethanol increased in October 2007. The ethanol industry averaged 452,000 barrels per day (b/d) according to the Energy Information Administration. Ethanol demand was also higher, averaging 484,000 b/d per day according to Renewable Fuel Association calculations.

Source: World-Grain

Cont'd..........................................

Average price of wheat at $9.41 per bushel in December

January 7, 2008

The preliminary national average price received by farmers for all wheat in December soared to $9.41 per bushel, up $2.05 from $7.36 in November and $4.89 above the December 2006 average of $4.52, the U.S. Department of Agriculture (USDA) said in its December Agricultural Prices report .

The national average price received for winter wheat in December was $9.22, up $1.90 from $7.32 in November and $4.69 above the December 2006 average of $4.53.

Source: World-Grain

Pacific Ethanol reports third-quarter results

November 12, 2007

Pacific Ethanol, Inc. announced on Nov. 9 a net loss for the third quarter ended Sept. 30 of $4.8 million compared to net income of $3.8 million for the third quarter of 2006. While the company's sales of ethanol during the third quarter were higher, the average sale price decreased 14%. Gross profit margin decreased to 4% for the third quarter of 2007 compared to 12.2% for the same period in 2006.

Source: World-Grain

USGS sees potential for U.S. feed in Australia

November 12, 2007

The U.S. Grains Council (USGC) on Nov. 9 said it is projecting increased export potential for United States (U.S.) feed grains to Australia as a result of Australia’s federal government authorizing livestock producers to import grains due to ongoing drought conditions.

Source: World-Grain

THE ECONOMIC PARTNERSHIP AGREEMENT:

SCHEDULE OF NEGOTIATIONS

November 12, 2007

Recent commentary in the media has given the misleading impression that the CARIFORUM (CF) countries are being forced by the European Union (EU) to conclude an Economic Partnership Agreement (EPA) by the end of 2007.

Source: Caribbean Regional Negotiating Machinery

USDA releases Crop Production and WASDE reports

November 9, 2007

The U.S. Department of Agriculture (USDA) on Nov. 9 release its monthly crop production report and the World Agricultural Supply and Demand Estimates (WASDE).

The crop production report forecast U.S. corn production at 13.2 billion bushels, down 1% from last month but 25% above 2006. The report forecast U.S. soybean production at 2.59 billion bushels, down slightly from the October forecast and down 19% from last year's record high.

Source: World-Grain

Fire disrupts operations at General Mills K.C. plant

November 9, 2007

A fire in a dust collector late Nov. 7 disrupted operations at the General Mills, Inc., flour mill in Kansas City, Missouri, U.S., although the plant still was running at a reduced capacity, a company spokesman said.

The small fire occurred in a sixth floor dust collector, said Tom Forsythe, vice-president of corporate communications at General Mills. There were no injuries, he said.

Source: World-Grain

Quarterly flour output third largest on record

November 9, 2007

U.S. flour production in the third quarter of 2007, July-September, totaled 108,637,000 cwts, a gain of 4.6% over 103,878,000 in the same quarter of 2006, according to the U.S. Department of Commerce’s Bureau of the Census. It was the largest output for a quarter in almost seven years, or since the all-time record in October-December 2000, when production was 109,673,000 cwts. The only other quarter in which production was larger was July-September 2000, when it was 108,838,000.

Source: World-Grain

U.S. Wheat Associates Wheat Letter

November 8, 2007

In this issue:
1. Local and Regional Purchase Proposal Impact on U.S. Food Aid
2. Wisdom of the Past
3. U.S. Wheat Exports Slow as Southern Hemisphere Crops Hit Market
4. Cancelled Export Sales Not a Trend
5. Israeli Wheat Team Visits U.S.
6. Wheat Industry Notes

Source: U.S. Wheat Associates

Average price of all wheat to $8.02 in October

November 5, 2007

The preliminary national average price received by farmers for all wheat in October was $8.02 per bushel, up $1.27 from $6.75 in September and $3.43 above the October 2006 average of $4.59, the U.S. Department of Agriculture (USDA) said in its October Agricultural Prices report (click here to read report).

The national average price received for winter wheat in October was $7.98, up $1.09 from $6.89 in September and $3.35 above $4.63 in October 2006.

Source: World-Grain

U.S. Wheat Associates Wheat Letter

October 25, 2007

In this issue:
1. Final Crop Quality Reports Available
2. U.S. Nearly Done Seeding More Winter Wheat
3. A Possible Path to Reasonable Low-Level Transgenic Risk Assessment
4. Trade Servicing, Trade Policy Help Boost North African Imports
5. Wheat Industry Notes

Source: U.S Wheat Associates

CME reports strong third-quarter revenues and profits

October 24, 2007

The CME Group on Oct. 24 reported total revenues increased 106% to $565 million and net income increased 94% to $202 million for third-quarter 2007 compared with third-quarter 2006.

"CME Group finished a record quarter with an unprecedented volume increase of nearly 50%," said CME Group Executive Chairman Terry Duffy.

Source: World-Grain

Gains dominate in flour mill production around world

October 23, 2007

Production of wheat flour around the world, based on national output figures just released by the International Grains Council (IGC), mostly showed gains in 2005 over the prior year. At the same time, the 2005 output numbers, in the 2006 World Grain Statistics just issued by the IGC, revealed the same broad variations as in prior years, with the sharpest shifts in production, both up and down in emerging and developing markets.

Source: World-Grain

FEFAC President says GM policy hurts E.U. compound feed producers

September 25, 2007

President Pedro Corrêa de Barros on Sept. 25 called on the E.U. Farm Council to take urgent measures ensuring adequate access of livestock farmers to feed materials. He welcomed the proposed decision to eliminate set-aside for the new crop season but stressed that this measure is not effective to address the present acute shortage of feed materials for the E.U. livestock population

Source: World-Grain

Ken Powell named CEO of General Mills

September 25, 2007

General Mills said on Sept. 24 that its board of directors has elected Kendall J. Powell chief executive officer (CEO) of the company. Powell, 53, joined the company in 1979 and was most recently president and chief operating officer. He succeeds Steve Sanger, 61, who has served as General Mills Chairman and Chief Executive Officer since May 1995. Sanger will continue as chairman through the end of the current fiscal year in May 2008.

Source: World-Grain

Mexico Considers 1.0 Mln T Wheat Imports on High Bread Price

September 24, 2007

The Mexican Government considers ways to import 1.0 million tonnes of wheat in attempt to counter the recent rise in the bread price of 0.3 Mexican pesos ($0.027/0.019 euro) per unit, the responsible for this industry at the Economy Ministry, Jose Guadalupe Saenz Solis, said on September 19, 2007.

Source: World-Grain

U.S. grain purchased by Iraq, Spain, Algeria and South Korea

September 24, 2007

The U.S. Department of Agriculture announced on Sept. 21 that private exporters have reported the following activity:

Export sales of 700,000 tonnes of hard red winter wheat for delivery to Iraq during the 2007-08 marketing year.

Source: World-Grain

Egypt may hike bread subsidy again

September 24, 2007

The Egyptian government is considering raising bread subsidies for the fiscal year ending June 2008 to more than $1 billion, according to Bloomberg News Service. The subsidy increase would be the second by Egypt’s leadership in less than a month.

Source: World-Grain

Prairie wheat in the spotlight on national stage

September 21, 2007

The CWB and Robin Hood flour today launched a national campaign to promote Prairie-grown wheat to Canadian consumers.

"Just as Florida has its oranges and California its raisins, we want to make Western Canada synonymous with wheat," CWB President and CEO Greg Arason said.

Source: Canadian Wheat Board

U.S. Wheat Associates Wheat Letter

September 21, 2007

In this issue:
1. Robust U.S. Wheat Exports Continue
2. Australian Crop Issues Could Diminish Stocks
3. Suppes: Free Trade is Critical
4. U.S./South America Trade at Crossroads
5. Are You Being Served?
6. Dollar at Historic Low; U.S. Supplies More Competitive
7. Wheat Industry Notes

See related stories below

Source: U.S Wheat Assocites

Rabobank predicts soft commodities prices to remain high

September 20, 2007

Rabobank said on Sept. 20 that a surge in demand for soft commodities has permanently altered the market, which is likely to keep most prices high for the long term.

Prices of soft commodities, such as corn, cotton, rice, wheat, soybeans and sugar, have traditionally been driven by supply. However, the increased demand for biofuels and more specifically, corn has increased prices and the volatility of those prices, according to the report, "Soft Commodities: Biofuels and New Players Define the New World Demand."

Source: World-Grain

CPI for baked foods, cereal climbs for fifth month

September 20, 2007

The Consumer Price Index (CPI) for baked foods and cereal products in August rose 4.2% from a year ago, according to the Bureau of Labor Statistics of the U.S. Department of Labor. The index for all food at home also advanced, gaining 4.5%.

The August index for Cereals and Bakery Products before seasonal adjustment was 223.9% of the 1982-84 average, up 0.3% from a month ago, marking the fifth consecutive month of higher prices. For all food at home, the August index was 202.1, up 0.3% from July.

Source: World-Grain

U.S. Secretary of Agriculture Johanns steps down

September 20, 2007

United States President George W. Bush on Sept. 20 announced that Secretary of Agriculture Mike Johanns is leaving his post in the Cabinet to return to Nebraska, where he is expected to run for the U.S. Senate.

Bush said Johanns "brought focus and energy to the department," but was "serious about going home and possibly serving the nation in a different capacity."

Source: World-Grain

Churchill loads first-ever domestic grain shipment

September 18, 2007

The Canadian Wheat Board (CWB) announced that the ship Kathryn Spirit loaded grain in the Port of Churchill on Sept. 17 for the first-ever shipment of grain from the northern port destined for a Canadian customer. The vessel will carry 12,500 tonnes of wheat from the Canadian Prairies to a mill in Halifax, Canada.

"This is a creative way to save farmers freight costs and maximize the use of Churchill," CWB President and Chief Executive Officer Greg Arason said. "It is important to identify innovative ways of shipping grain and other commodities through the Port of Churchill since its long-term viability is very important to Prairie farmers."

Source: World-Grain

Hungary approves Cargill's purchase of Agrograin

September 18, 2007

Hungary's competition authority (GVH) on Sept. 18 approved Cargill's purchase of a 64.43% stake in leading Hungarian trading firm Agrograin.

The purchase raises Cargill's stake to 100% in one of Hungary's largest grain trading houses with a revenue of $232 million last year, after Cargill obtained a minority stake in the firm in 1995.

Source: World-Grain

IBC reaches critical juncture, may face liquidation

September 17, 2007

Nearly three years to the day after Interstate Bakeries Corp. (IBC) declared bankruptcy and chief executive and turnaround guru Tony Alvarez II declared his newest patient "has a lot going for it," the maker of Wonder Bread and Twinkies now finds itself on life support.

Source: World-Grain