Job offersmore »
- Engineer support in agricultural sciences - Switzerland
- Farm Manager - Perth, Western Australia
- Expansion manager
- Horticultural Specialist - Emeryville (CA) USA
- Sales Manager Europe Division
- Grower - Delta, (OH) USA
- Export Sales - Perth, Australia
- Production Manager Indonesia - Magelang/Central Java, Indonesia
- Director ASIA Research Station Operations - Bangkok, Thailand
- Spécialiste Technique et commercial Biocontrôle pour l’Ouest de la France
Top 5 - yesterday
- Eden Agri Citrus: black farmers assume majority share-holding in packhouse
- Canadian growers shake their heads at talk of boycotting US goods
- First ever red sweet onions out of Walla Walla
- New Zealand: Exclusive avocado access to Australia under threat
- German specialist extending shelf life without preservatives
Top 5 - last week
Top 5 - last month
Exchange ratesmore »
US: Orange juice futures at 3 month lowOrange juice futures finished at a 3-month low on Thursday on speculative liquidation as bearish fundamentals of ideal weather in the citrus producing
state of Florida and weak demand deflated the market, dealers said.
The key May frozen concentrated orange juice sank 3.40 cents or by 2.0 percent, to close at $1.664 per lb, the lowest settlement for the spot contract since December 22, 2011.
Volume traded on Thursday hit over 2,400 lots, some 15 percent below the 30-day norm, ICE Futures U.S. data showed.
"It's massive spec along with some producer sales," said The Price Group analyst Jack Scoville. He said there was virtually nothing on the fundamental front
which could provide a boost to the juice market since supplies remain ample and retail demand is weak.
Citrus trees in Florida, the top citrus growing state in the United States, are maturing under excellent weather conditions. Some in the trade said Florida's upcoming 2012/13 citrus harvest may top the 147 million (90-lb) boxes of juice Florida reaped in 2011/12.
Juice futures had rallied to record highs in late January above $2 a lb after the U.S. said it found a prohibited fungicide in imports of Brazilian juice, which accounts for half of all imports and around 10 percent of U.S. juice supplies.
The U.S. Food and Drug Administration conducted tests and excluded some shipments, but fears of a supply crunch have since eased since there are more than enough supplies in the United States for the domestic juice market.
One analyst said a fall toward $1.50 or lower should uncover some consumer buying.
Publication date: 3/23/2012
Receive the daily newsletter in your email for free | Click here
Other news in this sector: