Milling & Baking News - November 30, 2004 - 3

T H I S

W E E K

November 30, 2004
Vol. 83, No. 40

NEWSCOMMENT

Global planting of
wheat rises for '05;
second year of gain

Mill profile
London's last miller
Story on Page 21

McDonald's c.e.o., fighting cancer, steps down
Charles Bell had guided the company as its chief executive since former c.e.o.
James Cantalupo died suddenly in April. James Skinner, a longtime company
veteran, now takes over as the fast-food chain's new c.e.o.

Campbell retires Franco-American brand

Krispy Kreme's results show more financial fissures

Consumers want to eat healthier food, study says

Third-quarter U.S. semolina production tumbles

In an effort to improve the product positioning of its SpaghettiOs brand against
rivals in the canned pasta market, Campbell Soup has decided to retire the FrancoAmerican brand and will use the Campbell logo instead on its canned pasta.

The company's balance sheet has begun showing the strain of sharply declining
sales at the donut chain, whose latest quarterly report revealed $21.7 million in
losses during the first nine months of its current fiscal year.

Conducted by the Food Marketing Institute and Prevention magazine, "Shopping
for Health 2004" showed that consumers have increased their attention to nutrition
labels, with a majority now seeking low-fat, whole grain and low-calorie foods.

Bureau of the Census data reveal that semolina and durum flour production by
U.S. mills declined 13.1% in the recent July-September quarter as compared with
2003. Production increased marginally, though, from this year's second quarter.

Editorial
Late News
Business
Financial Results
Industry Activities
Corn Wet Milling

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4 / Milling & Baking News, November 30, 2004

A further increase in world wheat
production is in prospect for 2005, based
on excellent conditions across most of
the Northern Hemisphere. This viewpoint
was expressed by the International Grains
Council in its latest Grain Market Report,
which pointed to a rise of 3 million to 4
million hectares in global wheat seedings.
At the same time, the I.G.C. said that
planting had proceeded satisfactorily "and
conditions generally were very good."
If world wheat production in 2005 does
exceed this year, when the crop reached a
record 618 million tonnes, it would mark
the second rebound from 2003 when area
dipped to a 40-year low. Assuming the
favorable outturn is realized, this would
also mean a further increase in ending
wheat stocks from the recent low point at
the end of 2003-04. The world carryover at
the close of the current 2004-05 season is
forecast by the I.G.C. to reach 138 million
tonnes, up 12 million from a year earlier.
All of the 2004-05 stock rise is projected
in the major exporting nations, and the
same is likely for 2005-06. Planting
increases occurred in the United States,
the European Union and Russia, in effect
promising a gain in export availabilities.
This outlook is further affected by the
I.G.C. estimate that China also increased
wheat plantings for 2005, reversing the
longtime downward trend in acreage in the
world's most populous country. This comes
just as China is resuming its role as a major
influence in the world export market. MBN

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Milling & Baking News - November 30, 2004

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