25/10/12: FFI; US wheat prices; avoiding mycotoxins

Hello,

• The Flour Fortification Initiative (FFI) is celebrating a decade of flour fortification progress. In the past decade, the number of countries requiring wheat flour fortification with at least iron or folic acid has more than doubled from 33 to 75, and the proportion of industrially milled flour being fortified has risen from 18 to 30 percent. Advocates say this progress is due to leaders in the public, private, and civic sectors working together to improve health through fortified flour.  Read more...

• US wheat futures have received a boost after Ukraine announced a halt to wheat exports. Chicago Board of Trade December wheat futures settled up 1.8 percent at $8.84 a bushel. KCBT December wheat rose 1.5 percent to $9.21 a bushel. MGEX December wheat rose 1.1 percent to $9.55 a bushel. Read more...

• With the threat of mycotoxins looming, this article by Alltech provides some useful hints on how to avoid this pesky problem. Read more...

Unsifted wheat flour (Photo credit: Wikipedia)

Wheat tumbles on improved weather - Grain and Soy Review

US wheat futures tumbled Wednesday on a combination of investors reducing risk exposure in the market and weather conditions that should ease stress to crops in the US and Europe. Wheat for July delivery ended down 35 cents, or 4.1 percent, at US$8.12 (UK£4.875) a bushel at Chicago Board Of Trade. At the Kansas City Board of Trade, hard red winter wheat for July delivery lost 3.9 percent to US$9.23 (UK£5.542)  a bushel. Hard red spring wheat for July delivery closed down 2.8 percent at US$9.54 (UK£5.728) 1/4 a bushel at the MGEX in Minneapolis.

Broad based selling was consistent across the grain complex at CBOT, reflective of investors reducing risk in the absence of a fundamental change in the market, said Shawn McCambridge, grains analyst with Prudential Bache in Chicago. Traders reduced risk after recent gains, worried Federal Reserve's rate decision and Fed Chairman Ben Bernanke's history making news conference might sway the US dollar or other markets that influence commodities, McCambridge said. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine and International Milling Directory from Perendale Publishers