Orange-Juice Futures Jump to Nine-Month High
- Florida needs 20 million trees to recover from citrus greening
- Dire forecast for long-term output endangers state industry
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Orange-juice futures surged to the highest in more than nine months on speculation that Florida’s crop, ravaged by Asian bugs, will continue to shrink.
On ICE Futures U.S. in New York, orange juice for January delivery rose 1.5 percent to close at $1.394 a pound after reaching $1.45, the highest for a most-active contract since Jan 26. Aggregate trading was 88 percent above the 100-day average, according to data compiled by Bloomberg.