Milling & Baking News - January 10, 2012 - 1

THE NEWS WEEKLY OF GRAIN-BASED FOODS JANUARY 10, 2012

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DONUT UPDATE

STOCK MARKET REVIEW

Ending at record high, grain-based shares beat broader market in ‘11
NEW YORK — Shares of grain-based foods companies scored solid advances in 2011, with gains easily outpacing major market indices. The Grain-Based Foods Share Index closed at the highest year-end level ever, 12154.32, up 7.5% for the year. The 7.5% advance compared with a 5.5% gain for the Dow Jones average of industrial shares, which ended at 12,217.56. The S.&P.500 ended the year at 1,257.60, three one-thousandths of a per cent beneath the 2010 close. The NASDAQ exchange performed still worse, closing with a decline of 1.8%, at 2,605.15. While ending at an all-time high, the 2011 performance of the Grain-Based Foods Share Index was less impressive by a number of other measures. The 7.5% gain was the worst showing in

Investing dollars for donuts
Public offering of Dunkin’ Brands highlights successful year for donut chains
Story on Page 33

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three years, eclipsed by the 9% advance by the index in 2010 and the 13.2% jump in 2009. The advance fell short of the 10.5% jump in the Consumer Staples sector shares within the S.&P.500, meaning grain-based foods
Continued on Page 21

Cargill investing in Iowa soybean plant
CEDAR RAPIDS, IOWA — Cargill said it will invest approximately $20 million this summer to modernize its soybean crushing plant on the east side of Cedar Rapids. The company said it may invest up to an additional $40 million in the facility over the next several years if needed. Along with the announcement, Cargill said industry overcapacity in soymeal production is prompting the company to close its Des Moines, Iowa, crush plant on Feb. 4. Cargill indicated it will continue some business activities at the Des Moines site, and it will continue to purchase
Continued on Page 8

Hard winter wheat does well through winter’s early days
KANSAS CITY — The hard winter wheat crop fared well in December in most states. Hard winter wheat
condition ratings in Kansas and Oklahoma at the end of December improved from a month earlier while winter wheat ratings across Texas and Nebraska were mostly stable and northern Plains wheat condition slipped. The grip of drought across the southern Plains was loosening, but much more moisture was needed. Drierthan-normal weather and a lack of snow cover affected wheat condition ratings in South Dakota and Montana. At the end of December Kansas wheat condition was rated 53% good to excellent (47% a month earlier), 38% fair and 9% poor to very poor. “Above average temperatures and beneﬁcial moisture in most areas helped to see the winter wheat through December,” said Kansas Agricultural Statistics. Most areas of Kansas received moisture during December with 34 of the 52 Continued on Page 10

Marking nine decades in partnership with grain-based foods
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Milling & Baking News - January 10, 2012

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