SOFTS HIGHLIGHTS : Top Stories of the Day
06/22/2012| 03:31pm US/Eastern
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TOP STORIES
Brazil's Leading Role in Sugar Wanes on Weak 2012-13 Output Views
LONDON--Brazil's position as a leader in the sugar industry is waning, observers said Friday, as it now seems unlikely there will be a sizable increase in the country's production in 2012-13, despite extensive problems with the previous season's crop.
Cotton Limit Down for Third Consecutive Trading Session
NEW YORK--Cotton on the ICE Futures U.S. exchange is down four cents, or the exchange-imposed limit, for the third consecutive trading session as investors with bets that prices will rise attempt to exit from their positions.
COCOA
Nigeria Edo State to Lose 30% of Main-Crop Cocoa Due to Insect Attacks
BENIN, Nigeria--Nigeria's mid-west Edo state will lose 30% of its 2012-2013 [October-September] main-crop cocoa production following insect attacks on several cocoa farms, Bob Bosede Aghedo, a vice president of the Cocoa Association of Nigeria, or CAN, said.
COTTON
2nd UPDATE: India Lowers Monsoon Rain Forecast; Still 'Normal'
MUMBAI--The amount of critical monsoon rain that will fall in India this year is now expected to be slightly less than initially forecast but within normal levels despite the risk of weak El Nino conditions late in the season, the state-run India Meteorological Department said Friday.
SUGAR
Raw-Sugar Futures Tumble Over 4%; Analysts Discount Brazil Rains
NEW YORK--Raw sugar on the ICE Futures U.S. exchange dropped more than 4% Friday as rains in Brazil let up, removing some of the weather threat that has been priced into the market recently, traders and analysts said.
Write to Alexandra Wexler at alexandra.wexler@dowjones.com
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