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© 2012 Infinity Trading Corp
October th, 2012
Orange juice futures headed for the biggest drop in almost two weeks on signs of higher output in Florida, the world’s second-biggest citrus grower. Cocoa also fell, while coffee gained.
Florida’s orange production in the season that runs from October to June may increase 4 percent from a year earlier to 152.4 million boxes, the highest since 2009, according to a Bloomberg News survey of seven analysts. The U.S. Department of Agriculture will release its first estimate of the crop on Oct. 11.
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April 23rd, 2012
Orange juice futures settled down at a 19-month low Monday on speculative sales as the market tested the bottom end of its trading range, with pressure coming from ideal growing weather in the producing state of Florida,analysts said.
Key July frozen concentrated orange juice fell 8.00 cents or by 5.7 percent to end at $1.4265 per lb after trading from $1.508 to the 10-cent daily limit down at $1.4065. Continue reading »
For the second position juice contract, it was the lowest settlement in 19 months, according to Thomson Reuters data. Country Hedging Inc. analyst Sterling Smith said juice futures have had a tough time moving up given the weak tone of outside markets. “We’re setting up a trading range of $1.40 to $1.50,” he said.
April 11th, 2012
Orange-juice futures tumbled to a 19-month low on speculation that citrus crops in Florida face no weather threat until the start of the hurricane season in June, leaving ample supply as U.S. demand slows. Cotton rose.
Groves in Florida, the world’s biggest orange grower after Brazil, escaped damage from cold weather during the winter months. U.S. retailers sold 252.23 million gallons (954.8 liters) of orange juice since Oct. 1, down 11 percent from a year earlier, the Florida Department of Citrus said on April 2, citing Nielsen Co. data.
“There’s a lack of any weather threat,” Sterling Smith, a market analyst for Country Hedging, a broker in St. Paul Minnesota, said in a telephone interview. “Demand has been suffering since the early 2000s.”
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March 20th 2012
Orange juice futures fell to a two-month low on Tuesday as ideal growing weather in the key producing state of Florida and the fall through a key area of support sparked a round of liquidation in the market, dealers said.
The key May frozen concentrated orange juice fell the 10-cent daily trading limit, or by 5.4 percent, to trade at $1.7425 per lb, its lowest level since early January, Thomson Reuters data showed. It was trading at $1.7765 per lb, down 6.60 cents, at 11:04 a.m. EDT (1504 GMT).
“I think it’s partly good Florida weather,” James Cordier, senior analyst of brokerage Optionsellers.com in Florida, said when asked for the reason behind the sell-off.
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February 17th, 2012
Orange Juice Futures – The U.S. Food and Drug Administration declined a request from Brazil, the biggest orange juice producer, to temporarily allow more of a banned fungicide in juice imports.
The U.S., the biggest single importer of orange juice, started testing shipments for the fungicide carbendazim, which is banned in U.S. groves, after regulators were alerted to reported traces of the chemical in December.
Orange juice imports from Brazil will remain subject to testing the FDA said in a letter e-mailed yesterday, in which it denied a request on behalf of the Brazilian Citrus Exporters Association to allow higher tolerances of the fungicide through June 2013 while exporters eliminate it from shipments.
“Without enforcement, we could not ensure that the food supply is protected,” Michael Landa, director at the Center for Food Safety and Applied Nutrition, said in the letter to Melvin Drozen, a partner at Keller and Heckman LLP in Washington, acting for the Brazilian association.
“If our enforcement is not consistent, it would provide an unfair advantage to those who have not taken the steps and incurred the expenses necessary to ensure that food they offer for sale in the U.S. complies with the requirements of the law,” Landa wrote.
The FDA has found 24 orange juice samples, 12 from Brazil and 12 from Canada, with carbendazim levels higher than the 10 parts per billion allowed from the 104 shipments it tested, according to a weekly update from the agency yesterday.
While the FDA recognizes the economic impact on orange juice prices, it won’t halt testing or detainment of imports, Landa said in the letter. Americans’ orange juice consumption may total 751,259 metric tons in 2011-12, U.S. Department of Agriculture data show.
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