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SOFTS HIGHLIGHTS : Top Stories Of The Day

05/08/2012 | 03:25pm US/Eastern
   TOP STORIES 
 
NASA Sees No Evidence Of El Nino, May Buoy Views On Cocoa Crop 

The National Aeronautics and Space Administration is not predicting an El Nino weather phenomenon this year, which could quash rumors of related damage to cocoa beans in the key producing regions of West Africa and Ecuador.

 
UPDATE: India To Soon Consider Hike In Sugarcane Price - Officials 

The Indian cabinet will soon consider a proposal to increase the price that sugar mills must pay for purchasing sugarcane, as the government aims to encourage cane farmers and keep the country's sugar production in a surplus for the third straight year.

 
NYSE Euronext: Money Managers Cut Net Long In Liffe Coffee, Sugar 

Money managers cut their net long futures and options position, or bets on higher prices, in NYSE Liffe coffee and sugar in the week to May 1, exchange data showed Tuesday.

 
   COCOA 
 
Central Cameroon April Cocoa Beans Size Bigger, Good For Export - Quality Checkers 

YAOUNDE, Cameroon (Dow Jones)--The size of cocoa beans harvested in Cameroon's main cocoa-producing Center Region and exported through the port of Douala in April were slightly bigger in size on the month, nine quality controllers in Douala told Dow Jones Newswires Tuesday, adding that the crop was also reported as excellent for exports.

 
   COFFEE 
 
UPDATE: Green Mountain Chairman Sells 5M Shares On Margin Call 

NEW YORK (Dow Jones)--A plummeting stock price has forced Green Mountain Coffee Roasters Inc. (GMCR) founder and Chairman Robert Stiller to sell 5 million shares of the coffee company's stock, according to a regulatory filing Tuesday.

 
Tata Coffee Jan-March Net Profit Rises 64% On Tax Credit 

BANGALORE (Dow Jones)--India's Tata Coffee Ltd. (532301.BY) said Tuesday fourth-quarter consolidated net profit surged 64%, primarily on account of tax savings, even as U.S. unit Eight O' Clock Coffee Co. continued to weigh on operations.

 
NYSE Liffe Assessing Coffee Warehouse Load Out Rates 

LONDON (Dow Jones)--The NYSE Liffe exchange said Tuesday it is assessing warehouse load out rates for certified robusta coffee after European tradehouses and roasters complained about delays, and it expects to make an announcement in the next few weeks.

 
   ORANGE JUICE 
 
Orange-Juice Futures For July Fall 3.3% To 29-Month Low Of $1.1590 

NEW YORK (Dow Jones)--Orange-juice futures slumped to its lowest level since November 2009 as investors Tuesday continued to close out bets that prices will rise, strangling the market.

 
   SUGAR 
 
ICE Raw Sugar Hits 20-Month Low 

NEW YORK (Dow Jones)--Raw-sugar prices tumbled to a 20-month low on Tuesday as expectations of a surplus of the sweetener and a risk-off environment across markets weighed on prices.

 
Bajaj Hindusthan Second-Quarter Net Profit Slumps To INR87.8 Mln 

MUMBAI (Dow Jones)--Bajaj Hindusthan Ltd. (500032.BY), India's largest sugar producer by capacity, said Tuesday its second-quarter net profit plunged to INR87.8 million from INR728.2 million a year earlier due to lower sales and higher cane costs.

 
Technical Special: ICE Sugar Mired In Major Bear Trend 

ICE July sugar futures are sharply weaker Tuesday, as the market remains mired in a major bear trend. Over the past month the selling has been relentless and the bears have driven sugar sharply lower. Minor support is seen at 20.50 cents, but if that floor breaks a new wave lower will be targeted.

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

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