USDA predicts record corn crop with plenty to spare
By Rita Jane Gabbett on 5/11/2010
USDA forecast a record 13.37 billion bushel U.S. corn crop and record corn supplies of 15.118 billion bushels in the 2010/11 (September-August) marketing year — plenty to accommodate rising exports and ethanol use and still end the year with carryout stocks of 1.818 billion bushels, up 5 percent from last year.
On average, analysts polled by Dow Jones had expected 2010/11 carryout stocks a bit larger at about 1.884 billion bushels. USDA put 2009/10 corn carryout at 1.738 billion bushels, also shy of the average analyst forecast of 1.853 billion.
In its latest Crop Production and World Supply and Demand Estimates reports, USDA boosted corn ethanol use to 4.6 billion bushels in 2010/11 from 4.4 billion bushels expected use in 2009/10, based on rising federal biofuels mandates and strong blending incentives that continue to boost ethanol use.
USDA predicted corn exports in 2010/11 at 2 billion bushels, compared to 1.95 billion bushels expected in 2009/10, which it raised on larger supplies and lower prices.
Domestic corn feed and residual use, however, was projected to be down slightly, to 5.35 billion bushels in 2010/11 from 5.375 in 2009/10, due to a slow recovery in animal numbers and increased use of distiller’s grains.
Corn prices were seen down to a range of $3.20 to $3.80 per bushel in 2010/11 from a tighter range of $3.50 to $3.70 in 2009/10.
The Renewable Fuels Association called the projections “quite impressive” and said they should “go a long way toward putting an end to the food fight between corporate livestock interests and American farmers and ethanol producers.”
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White House asks food makers to do more to fight childhood obesity
By Tom Johnston on 5/11/2010
The White House released a 120-page report Tuesday outlining ways to fight childhood obesity, including calling on food makers to limit marketing of unhealthy foods to children.
The document, developed by the Obama-appointed Task Force on Childhood Obesity, argues that efforts by companies to curb marketing of sugary and fatty foods have fallen short thus far. Kraft Foods Inc. and General Mills Inc. are among a number of major food processors that have cut advertising unhealthy products to children via television, radio and in print.
Among the suggestions the report makes are that food companies should expand their efforts to cover all types of marketing to children; retailers should curb in-store promotions of unhealthy products to kids; and all media and entertainment firms should limit licensing of their popular characters to healthy foods and drinks.
“If voluntary efforts to limit the marketing of less healthy foods and beverages do not yield substantial results, the [Federal Communications Commission] could consider revisiting and modernizing rules on commercial time during children’s programming,” the report noted.
The report also suggested that the Food and Drug Administration and USDA work with the food and beverage industry to standardize nutrition labeling for the front of packages.
Meanwhile, other solutions offered by the report include increased exercise and healthier foods in schools.
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New Kraft products include Angus Beef Bologna
By Ann Bagel Storck on 5/11/2010
Kraft Foods announced that it is highlighting more than 30 new products this week at the 2010 Food Marketing Institute Show in Las Vegas.
New offerings include:
Varieties of Oscar Mayer Deli Fresh shaved meats including Angus Beef Bologna and Turkey Pastrami with pepper and garlic flavor
Better-for-you Oscar Mayer Lunchables varieties, such as:
Chicken Strips made with 100 percent white meat chicken, which comes with mandarin oranges
A Chicken and American Sub Sandwich with a bun that has 8 grams of whole grain per serving
Cracker Stackers – Ham + American with lean ham, Kraft American cheese and crackers made with whole grain
Turkey + Mozzarella Cracker Stackers made with 100 percent white meat turkey, Kraft mozzarella cheese and crackers made with 5 grams of whole grain per serving
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