SOFTS HIGHLIGHTS : Top Stories of the Day
02/22/2013| 04:15pm US/Eastern
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TOP STORIES
Arabica Coffee Ends at 2 1/2-Week High; Port Strike Boosts Sugar
NEW YORK--Arabica coffee futures climbed to a more than two-week high on an uptick in business in Brazil and concerns about a plant-fungus outbreak in Central America.
COCOA
Cocoa Prices Fall In Nigeria's Cross River State -- Official, Traders
IBADAN, Nigeria--Cocoa prices in Nigeria's second-largest cocoa-producing state have fallen as a result of lower international prices, a cocoa association official and traders said.
SUGAR
Russia Seen Reducing Beet Planted Area as Profits Decline
MOSCOW--Russia is likely to reduce its beet planted area by 21% to 900,000 hectares this year compared with 2012, as world prices fall and sugar production costs rise, the national association of sugar producers Soyuzrossakhar said.
COFFEE
Kraft Cuts U.S. Coffee Prices by 6%, Following J.M. Smucker
NEW YORK--Kraft Foods Group Inc. (>> Kraft Foods Group Inc) cut prices for its Maxwell House and Yuban coffees by about 6%, following a similar move by rival J.M. Smucker Co. (>> The J.M. Smucker Company) this week.
Technical Special: ICE Coffee Forms Minor Bottom
ICE May coffee futures rallied in mid-morning action, as the contract broke out from a two-day consolidation to the upside. Daily momentum has turned positive and a minor bottom has formed at this week's low.
-Write to Leslie Josephs at leslie.josephs@dowjones.com
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