Orange Juice Rises on Florida’s Shrinking Supplies; Coffee Gains
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Orange-juice futures gained the most in more than three weeks on signs of smaller production in Florida, the world’s second-largest citrus grower. Coffee and cotton also advanced, while sugar and cocoa slid.
The U.S. government will probably cut its estimate for Florida’s orange output for a sixth straight month to 137.6 million boxes from 138 million projected in April, a Bloomberg news survey showed before a May 10 report. Drought and a bacterial disease called citrus greening have hampered fruit development. A box weighs 90 pounds, or 41 kilograms.