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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