Orange-Juice Futures Jump Most in 11 Weeks; Sugar Slumps
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Orange-juice futures jumped the most in 11 weeks on speculation that citrus output will drop in Florida, the world’s second-largest grower. Sugar tumbled the most in two months. Coffee and cotton fell, while cocoa rose.
Florida will probably produce 130 million boxes of oranges in the year beginning Oct. 1, based on fewer trees and lower yields, according to Elizabeth Steger, a consultant in Kissimmee, Florida. Output in the current season was 133.4 million boxes, according to the U.S. Department of Agriculture. A box weighs 90 pounds, or 41 kilograms.