Orange Juice Futures Options Trading
CALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741
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Orange Juice Futures Options TradingCALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741 |
Orange Juice Futures Rises As USDA Holds Florida Crop Forcast Steady May 9th, 2008Orange-juice futures rose after the U.S. Department of Agriculture maintained its forecast for the orange crop in Florida, the world's second-biggest producer. Three out of six analysts in a Bloomberg survey before the report expected the agency to raise the forecast on a larger Valencia crop, a late-season variety. The other three expected no change in the outlook. The harvest will rise 31 percent in the season through June to 168.5 million boxes from a year earlier, including 85 million boxes of Valencia, the USDA said. ``There was fear they could see a higher number,'' said Jack Scoville, a vice president at Price Futures Group in Chicago. ``We are having a relief rally.'' Orange-juice futures for July delivery rose 0.75 cent, or 0.5 percent, to $1.212 a pound at 10:57 a.m. on ICE Futures U.S., formerly the New York Board of Trade. ``Fruit size continues to be smaller than the minimum of the past 10 seasons and is the fourth-smallest on record for a non-freeze season in a series dating back to the 1960-61 season,'' the USDA said. The agency left its Valencia projection unchanged. A box of oranges weighs 90 pounds (41 kilograms). Before today, futures dropped 17 percent this year, partly on the forecast that Florida's crop will rise from last year's 17-year low of 129 million boxes. Hurricanes in 2004 and 2005 battered groves and spread disease. Brazil is the world's biggest orange grower. - Shruti Date Singh in Chicago at Bloomberg. Click here for your Free Orange Juice Futures Trading eGuide |
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