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Orange juice futures rise as cold weather comes in

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