Reading Time: < 1 minute Grocery giant Loblaw (Loblaw Companies Limited) and parent company George Weston Limited announced yesterday a $500 million settlement had been reached concerning their involvement in a bread price-fixing scandal.
Tag Archives bread
Loblaw and parent company to pay out $500 million in bread price fixing settlement
Canada Bread fined $50 million over price-fixing
'Leniency' settlement follows breadmaker's guilty plea
Reading Time: 3 minutes A storied Canadian producer of bread and bakery products has a month to pay a $50 million fine for price-fixing in an ongoing federal probe which still has eyes on several major retailers. Ontario’s Superior Court on Wednesday sentenced Toronto-based Canada Bread Co. after the company pled guilty to four counts of fixing bread prices […] Read more
Flatbread firm FGF buys Weston Foods bakery business
Weston selling to focus on retail, real estate
Reading Time: 2 minutes The parent company for Canadian grocery and retail giant Loblaw is taking a major step out of the baked goods business. George Weston Ltd. announced Oct. 26 it would sell its Weston Foods fresh and frozen bakery businesses to an arm of Toronto-based bakery firm FGF Brands for $1.2 billion. The company expects to close […] Read more
Millers, bakers fret as drought withers North America’s spring wheat
Reading Time: 3 minutes Reuters – Millers and bakers are draining wheat reserves and paying more for spring wheat used in baking, as drought shrivels crops across the Canadian Prairies and northern U.S. Plains that produce more than half of the world’s supply. U.S. and Canadian farmers are bracing for a sharply smaller spring wheat harvest due to the […] Read more
CBOT weekly outlook: Wheat futures underpinned for now
However, traders still watching headlines
Reading Time: < 1 minute MarketsFarm — U.S. wheat futures have climbed higher over the past week, with the largest gains in Chicago Board of Trade soft wheat, as global uncertainty over the COVID-19 pandemic provided some support. However, that uncertainty could also makes predicting market trends rather difficult, according to an analyst. “All of my comments come with a […] Read more
U.S. grains: Wheat climbs on global demand for bread
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures surged on Wednesday, with the May contract on the Chicago Board of Trade hitting a two-month high on a mix of technical buying and global demand for bread as the coronavirus prompts consumer stockpiling, analysts said. Corn futures closed modestly higher while soybean futures turned lower. CBOT May […] Read more
North America’s millers, bakers scramble to satisfy bread binge
Reading Time: 2 minutes Chicago/Winnipeg | Reuters — North American flour mills and bakeries are rushing to boost production as the spread of the COVID-19 coronavirus leads to consumer stockpiling of staples such as bread and pasta. The virus’ spread prompted orders to stay at home in some U.S. states, including New York, California and Illinois last week, following […] Read more
U.S. grains: Wheat jumps to one-month top
Soy climbs, corn little changed
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures surged nearly four per cent on Monday and hit a one-month high, buoyed by strong buying by domestic flour millers as consumers stockpile bread, and signs of a pick-up in global export business, traders said. Soybeans rose on expectations of rising demand for soymeal, a feed ingredient. Corn […] Read more
Sudan to continue to subsidize bread but with ‘justice’
Reading Time: < 1 minute Khartoum | Reuters — Sudan will continue to subsidize bread prices during transitional rule after Omar al-Bashir’s ouster but wants to achieve “justice” in distributing income supports, its trade and industry minister said on Wednesday. Bread shortages, caused by difficulties in raising hard currency to import wheat, triggered mass protests which — with the help […] Read more
CWRS makes inroads in Nigeria
Quality makes CWRS ideal for blending with other wheats for bread, but there are also possibilities for durum
Reading Time: 2 minutes As Nigeria’s population rapidly grows to make it the third-largest country in the world by 2050, according to the UN, demand has also been increasing for high-protein, high-quality Canada Western Red Spring (CWRS) wheat for food products. “The high-protein segment of the Nigerian market that was once (dominated by) U.S. wheat was completely replaced by […] Read more
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