SOFTS HIGHLIGHTS: Top Stories Of The Day

Date : 02/22/2012 @ 4:04PM
Source : Dow Jones News
Stock : Cosan Limited Class A (CZZ)
Quote : 7.1  -0.28 (-3.79%) @ 3:02PM

SOFTS HIGHLIGHTS: Top Stories Of The Day

Cosan Limited Class A (NYSE:CZZ)
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Benchmark cotton futures in New York fell to a more than eight-week low on Wednesday, as robust global supplies of the fiber and concerns over demand weighed on prices.

 
UPDATE: Goldman Sachs Expects Recovery In Cocoa Grindings 

Emerging markets will be key as global demand for cocoa continues to grow, while 2011-12 production is likely to be down from a year ago, Goldman Sachs said Wednesday.

 
Buyers Of Washed Arabica Coffee Hold Out For Lower Prices-Trader 

MEXICO CITY (Dow Jones)--A drop in coffee exports from Central America and other washed-arabica-producing countries this season is thanks in part to producers holding out for more attractive prices, so traders aren't worried about supplies, a senior trader at Volcafe Specialty Coffee said Wednesday.

 
   SUGAR 
 
UPDATE: Brazil's Cosan To Buy 5.66% Stake In ALL For $523 Mln 

SAO PAULO (Dow Jones)--Cosan SA Industria e Comercio (CZZ, CSAN3.BR), Brazil's largest sugar and ethanol company by revenue, said late Tuesday it has agreed to buy a 5.66% stake in logistics company America Latina Logistica SA (ALLL4.BR) for 896.5 million Brazilian reais ($523 million).

 
Russia Produces Record 5.028M Tons Of Sugar From Beet To Feb 22 

MOSCOW (Dow Jones)--Russia produced 5.028 million metric tons of sugar to Feb. 22 from beet harvested in 2011, a record for the country and making it the largest sugar-from-beet producer in the world, the national association of sugar producers Soyusrossakhar said Wednesday.

 
Thai Cane & Sugar Corp Sells 38,397 Tons Raw Sugar -Official 

Thailand's state-owned Thai Cane & Sugar Corp. sold a total of 38,397 metric tons of sugar to international trading firms in a tender Wednesday, a senior TCSC official said.

 
   COCOA 
 
SW Cameroon Cocoa Prices Soar On High Demand -Farmers, Traders 

YAOUNDE, Cameroon (Dow Jones)--An increase in buyers at the farmgates in Cameroon's leading cocoa-growing Southwest Region pushed up prices paid for a kilogram of cocoa this week to 980-1,025 CFA francs ($1.90-$2), from XAF900-960 nearly a fortnight ago, several farmers and traders have said.

 
Nigeria Cross River State Cocoa Prices Rise As Local Demand Picks Up -Trade 

LAGOS, (Dow Jones)--Prices of graded cocoa from the 2011-12 main crop (September-January) have risen in Nigeria's southeastern Cross River state where cocoa is still kept in stores and warehouses even though harvesting is almost over, traders said Wednesday.

 
Sic Cacao Aug-Jan 2011-2012 Cocoa For Crushing Down At 24,017 Tons 

YAOUNDE, Cameroon (Dow Jones)--The Cameroon unit of Switzerland-based Barry Callebaut AG (BARN.EB), or Sic Cacao SA, bought 24,017 metric tons of cocoa beans between August and January, in the 2011-2012 cocoa season, industrial data showed Wednesday.

 
Cameroon Targets 600,000 Tons Annual Cocoa Output By 2020 

YAOUNDE, Cameroon (Dow Jones)--Cameroon will provide cocoa farmers with 15 million seedlings this year in a bid to lift the country's production to 600,000 metric tons by 2020, a plan announced this week indicated.

 
   COFFEE 
 
Honduran 2011-12 Coffee Exports Up 18% On Year To 1.56M Bags 

Honduran coffee exports for the 2011-2012 season through Feb. 20 were up 18% from the year-ago period, to 1.56 million 60-kilogram bags, the Honduran Coffee Institute said Wednesday.

 
Arabica Coffee To Brew Further Declines This Year - BarCap 

LONDON (Dow Jones)--ICE arabica coffee futures prices are poised for further declines this year, weighed by an anticipated record off-year from top producer Brazil, an easing in consumption growth from emerging market economies and a weaker La Nina, Barclay's Capital said Wednesday.

 
Kenya Coffee Auction: Prices Mixed On Quality - Official 

NAIROBI (Dow Jones)--Prices at the Nairobi Coffee Exchange weekly auction were mixed Tuesday on quality, and one marketing agent with exceptionally high quality coffee on offer pushed up the overall average price, an official said Wednesday.

 
Technical Special: ICE Coffee Pulls Back, Down Trend Seen 

LONDON (Dow Jones)--ICE March coffee pulled back Wednesday, as bearish undertones reaffirm themselves over the technical trend. The market has now broken below multi-month support and last week hit its lowest level since November 2010. The technical trends are indeed bearish and the downside breakout suggests more losses are likely ahead.

-By Alexandra Wexler, Dow Jones Newswires; 212-416-4883; alexandra.wexler@dowjones.com.

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