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Cotton Falls, While Orange Juice Rises

May 14, 2013 at 0:48 by Vladimir Vyun

Agricultural commodities showed a mixed performance. Cotton fell on fear about lack of demand, while orange juice was rising on forecasts of falling supply.

Cotton declined on concerns that China’s consumption will fall as economic growth is slowing. The US Department of Agriculture predicted last week that Chinese imports of the fiber will slump 34 percent from a year ago.

Meanwhile, orange juice advanced on concerns adverse weather conditions and a disease will reduce output in Florida, the second biggest grower in the world. The USDA forecast that harvest in the region will drop to the lowest level in four years.

July futures for delivery of cotton dropped $0.0044 (0.51 percent) to $0.8604 per bushel as of 00:44 GMT on ICE today. Contract for delivery of orange juice climbed as much as $0.0380 (2.63 percent) to $14.4815 per bushel.

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