Orange Juice Futures Change Course After Crossing $5/lb -- Market Talk

Dow Jones09-12

1225 ET - Frozen orange juice concentrate futures trading on the ICE are down 3.4% in today's session, with the market pulling back after posting a close Tuesday over $5 a pound for only the second time in the contract's history, settling at $5.02 a pound. The USDA will release its latest outlook for Florida's citrus output in a report coinciding with its WASDE report at noon eastern time Thursday, although the citrus report is expected to contain only maturity data for fruit. The low-volume contract is also seeing some volatility associated with a busy hurricane season in the Atlantic, although the latest hurricane to hit the U.S. is scheduled to make landfall in Louisiana today, avoiding vulnerable Florida orange groves. (kirk.maltais@wsj.com; @kirkmaltais)

(END) Dow Jones Newswires

September 11, 2024 12:25 ET (16:25 GMT)

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