Orange juice futures rise as cold weather comes in

Published on NewsOK Modified: January 6, 2014 at 3:32 pm •  Published: January 6, 2014

Orange juice futures are higher as traders anticipate that cold weather might affect Florida's citrus crop.

The actively traded March contract for frozen orange juice rose 3.85 cents, or 3 percent, to $1.436 a pound Monday

Florida is expecting temperatures to fall into the 30s in part of the state Tuesday, but a Florida Citrus Mutual spokesman said temperatures must be at 28 degrees or lower four hours straight for fruit to freeze badly.

In other contracts, corn rose 4.25 cents, or 1 percent, to $4.2775 a bushel. Soybeans rose 5.5 cents, or 0.4 percent, to $12.7675 a bushel and wheat was flat at $6.0575 a bushel.

Gold fell 60 cents to $1,238 an ounce.

Crude oil for February delivery fell 53 cents to close at $93.43 in New York.


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