Commodity Blog

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Orange-Juice, Copper, White Sugar Prices Rise

January 4, 2010 at 20:30 by Vladimir Vyun

Orange-juice futures went up after frosts hit Florida, the second greatest grower in the world after Brazil. Cold weather will last for a week, which should be not enough to noticeably damage crops. March futures for orange-juice delivery added $0.083 (6.4 percent) to $1.3735 per pound as of 10:33 on ICE.

Copper prices jumped to the record in 16 months after a strike at the second-biggest mine in the world and as manufacturing in the U.S., China and India increased in December. Last month manufacturing in the U.S. grew at fastest rate in three months. Demand for the metal in China reached a record in the first half of 2009. March futures for copper delivery climbed $0.0505 (1.5 percent) to $3.397 per pound by 11:22 on the New York Mercantile Exchange’s Comex unit.

White sugar price reached the highest level in at two decades in London on concern that flooding in Brazil may harm the crop. Analysts forecast that global sugar production will decline by 13.5 million tons in 2009–2010 season. March delivery for white sugar rose $16.10 (2.3 percent) to $726.30 per metric ton on the Liffe exchange.

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