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Worsening Prospects for Crop Boost Orange Juice

March 9, 2013 at 5:24 by Vladimir Vyun

Futures on orange juice climbed on forecast of smaller harvest from Florida, the second-biggest grower in the world. The US Department of Agriculture revised its projection for yield from the US state to 139 million boxes of oranges from 141 million. This was below the last year’s crop of 146.6 million and analysts’ expectations of 139.6 million.

Citrus greening, a crop disease, was blamed for smaller output. Dry weather in most of the citrus-growing regions was not helping plants either. Over the whole winter, weather conditions were normal for the crop.

May futures for delivery of orange juice climbed as much as $0.0860 (6.90 percent) to close $1.3315 per bushel on CBoT.

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