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Orange juice futures rise as cold weather comes in

January 6, 2014

NEW YORK (AP) — Orange juice futures rose Monday as traders anticipated that cold weather might affect Florida’s citrus crop.

The actively traded March contract for frozen orange juice concentrate rose 3.85 cents, or 3 percent, to $1.436 a pound.

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.

February gold fell 60 cents to $1,238 an ounce.

March silver fell 10.8 cents, or 0.5 percent, to $20.103 an ounce.

Platinum for April delivery rose $2.20 or 0.2 percent, to $1,416.40 an ounce. Palladium for March delivery rose $7.30, or 1 percent, to $738.50 an ounce.

Copper for March delivery edged up half a cent to $3.3595 a pound.

Crude oil for February delivery fell 53 cents to close at $93.43 in New York.

In other energy futures trading, wholesale gasoline fell a fraction of a cent to $2.646 a gallon, heating oil was flat at $2.939 a gallon and natural gas was flat $4.31 per 1,000 cubic feet.

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