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http://www.bungetv.com - BungeTV is a monthly newscast provided by Bunge Oils to keep you up-to-date on the latest news, events and information that impact the food processing and foodservice industries. This episode includes: Industry news, High Oleic Canola update, Chicago Board of Trade Experts meeting, Bunge Commodity report, BiiC Culinary Kitchen Grand Opening and M.O.E. Update. Welcome to Bunge TV⎯News, trends and information important to your food business, I'm Stacey Wagers. The USDA reduced the U.S. soybean yield forecast for 2012 to 36 point 1 bushels per acre from 40 point 5 acres they had forecasted last month. This is lower than most all other estimates. The agency says lower soybean yields are expected for each of the top 10 soybean growing states, and goes on to say there are some of the worst conditions ever indicated by USDA's data series. The small crop is expected to result in a 175-million-bushel cut in the domestic crush and a 240-million-bushel cut in exports. The large cut in exports reflects the forecast of a record-large harvest in South America in 2013. U.S. export sales for the 2012-13 year that begins on Sept. 1 already account for 51 percent of the projected exports for the year. Meanwhile the outlook for the high oleic canola crop is very solid and a great yield is anticipated... in fact it could be the largest on record. Want to know what these numbers mean for you? You could join Bunge's Chicago Board of Trade Market Experts Discussion. This bimonthly call is to share market information and opinions as they relate to Bunge with customers. The discussion will focus on Chicago Board of Trade futures prices, market trends and price direction, inter-commodity relationships, money flows and general market information. Contact your sales rep for details on how to join the call. Now let's head to St. Louis for the latest commodity report update... The Bunge Ingredient Innovation Center, or B-I-I-C, in Bradley, Illinois celebrated its latest expansion last month with a huge celebration! The BIIC combines Bunge's existing food ingredient innovation and pilot plant facilities with a new culinary kitchen. With more than 60 customers visiting the BIIC every year, the new culinary kitchen is the perfect location for collaborative project innovation from farm to table with Bunge customers. The newly expanded kitchen section of the BIIC features a foodservice grade presentation kitchen and preparation space, a conference room with interactive presentation capabilities and offers adjoining connectivity to Bunge's bakery applications lab. Dubbed the "World's Fair of Agriculture", the Farm Progress Show in Boone, Iowa Aug. 28th thorough 30th is the Nation's Largest Outdoor Farm Show. It features 500 exhibitors and more than 300 acres of field demonstrations....and Bunge Moe will be there. Bunge reps will meet with the farmers face to face... they're the ones that grow the crops that eventually become our oilseed products. Bunge chefs will be cooking up delicious fare to show them how good the their crops can be further down the supply chain. That's all for Bunge TV, I'm Stacey Wagers. Thanks for watching