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July 26th, 2012
Orange Juice Futures – Orange-juice sales continue to tumble as many U.S. consumers opt out of the popular breakfast beverage due to high prices.
Total domestic retail sales of orange juice were off 5.4% in terms of volume–and 0.6% in terms of revenue–for the four weeks ending July 7 versus the same period in 2011, according to Nielsen data published by the Florida Department of Citrus.
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June 27th, 2012
Orange Juice Futures – Florida’s orange groves survived a lashing from Tropical Storm Debby this week. But some commodities investors are betting that Debby is just a warm up to what is expected to be a busy hurricane season.
These investors are buying orange-juice futures contracts in anticipation of prices jumping should Florida, the largest producer of juicing oranges, be battered in coming months. Already, prices are up 13% since mid-May.
The jump comes after six months of tumbling prices. Orange-juice futures have been among the worst-performing commodities of 2012, falling 31%. Some investors say even a hint that another storm is heading for Florida may be enough to keep prices moving higher.
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June 19th, 2012
Orange juice futures settled on Tuesday at a six-week high on speculative buying inspired in part by a weak dollar and firm commodity markets, analysts said.
Key July frozen concentrated orange juice jumped 7.20 cents, or 6.4 percent, to close at $1.1975 per lb after trading from $1.1245 to $1.205.
It was the loftiest close for the spot juice contract since the middle of May, Thomson Reuters data showed.
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June 7th, 2012
Orange juice futures fell on Thursday as traders took profit on gains in the previous two sessions, to keep prices in line with the ample supply and weak retail demand for the commodity.
ICE Futures’ benchmark frozen concentrated orange juice futures for July settled down 1 cent, or 0.9 percent, at $1.1560 per lb. It traded from $1.12 to $1.1890.
“The market’s seen a decent pop in the last two days and people reckoned it’s time to take some profit given the fundamentals for juice,” said Sterling Smith, vice president of commodity research at Citibank’s Institutional Client Group in Chicago.
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May 29th, 2012
Orange juice on the ICE Futures U.S. exchange gained 2.3% Tuesday, after trading as much as 7.9% higher in the session, as tropical storm Beryl dumped rain across top orange-producing state Florida.
It is unknown whether the rains will help or hurt the state’s citrus groves, traders said. But even the hint of fresh fundamental news after a months-long dearth of new supply-and-demand information was enough to send investors who bet that prices would fall scrambling to lock in profits.
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May 21st, 2012
Orange-juice futures rose the most in four months on mounting speculation that this year’s hurricane season poses a greater risk than normal to Florida citrus groves, the world’s second largest.
While Tropical Storm Alberto probably poses no threat to Florida’s orange groves, “indication of early tropical activity in the vicinity is getting the markets jittery,” Donald Keeney, a senior agricultural meteorologist at MDA Information Systems Inc., said today in an e-mail. The Atlantic hurricane season typically starts June 1. Before today, orange-juice futures had tumbled 43 percent in the past year.
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May 15th, 2012
Orange Juice futures – Investors are squeezing every last drop out of the orange-juice futures rout.
Frozen orange-juice concentrate futures are on the move again, dropping more than 3% to their lowest level since November 2009.
Traders say not only are investors still closing out bets that prices will rise, but more bets that prices will fall are entering the market as well.
Orange juice futures for July delivery on the ICE Futures U.S. exchange was 3.5% lower at $1.1250 a pound in afternoon trade, having recovered slightly from an intraday low of $1.1175/lb.
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May 3rd, 2012
Managed Futures – Smaller managed futures funds able to exploit niche commodity markets and the most volatile conditions are increasingly likely to win assets from investors disappointed with returns from the big trend-followers that dominate the industry.
Managed futures, or commodity trading advisers (CTAs), attracted a wave of assets in 2009 after performing well during the 2008 financial crisis.
Mainstream institutional money flooded into some of the best-known trend-followers, so that 60 percent of total CTA assets are now with the top 10 players.
But since 2009, industry performance has been patchy as traditional trend-following models have struggled in range-bound markets in which it is hard to gain traction.
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May 2nd, 2012
Orange juice futures fell to their lowest levels in two years Wednesday.
They hit record prices less than four months ago.
Orange juice futures for July delivery OJN2 fell 2 cents, or 1.5%, to $1.308 a pound. Futures prices haven’t seen prices that low since April 2010, according to data from FactSet Research.
And prices are a far cry from the record level near $2.20 a pound seen in January of this year, when the U.S. Food and Drug Administration reported small amounts of a type of fungicide, which wasn’t approved for use in the U.S., in juice imported from Brazil.
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