EPA Press Conference Today At 1pm EST

Deutsche Bank has issued an industry alert on Food companies, stating that a press conference will be held today at 1pm with EPA Assistant Administrator for Air and Radiation Gina McCarthy. In the report, Deutsche Bank writes "Recall that 2007 model year and newer vehicles make up only 18% of the total U.S. light-duty vehicle fleet. Therefore, while we expect that tomorrow's announcement may provide a headline boost for corn and ethanol players, we do not see practical implementation until a more widespread ruling is made. We expect that potential liability issues associated with mis-fueling will hinder widespread implementation even for 2007 and newer vehicles. We continue to believe EPA will rule on allowing E15 for 2001-2006 vehicles by year-end or early 2011, but this would only represent an incremental 36% of the light-duty vehicle fleet. Keys to tomorrow's conference call will be any insight into timing for E15 approval for pre-2001 vehicles, as well as any work towards E12 approval, which we believe would be applicable to all light-duty vehicles." Companies related to this report include: Archer-Daniels-Midland ADM, USD32.56 Hold, Price Target USD36.00 Bunge BG, USD61.31 Buy, Price Target USD69.00 Corn Products International CPO, USD39.22 Hold, Price Target USD39.00 Hormel Foods HRL, USD44.29 Sell, Price Target USD38.00 Sanderson Farms SAFM, USD38.98 Hold, Price Target USD52.00 Smithfield Foods SFD, USD15.62 Buy, Price Target USD21.00 Tyson Foods TSN,USD14.84 Hold, Price Target USD19.00