Orange Juice Advances on Florida Frost Concern; Cotton Declines
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Orange-juice gained for the eighth time in nine sessions on speculation that an overnight frost damaged crops in Florida, the second-largest producer. Cotton fell for a fifth day.
Sub-freezing temperatures may have caused “spotty damages” to groves in southwestern Florida, according to Kyle Tapley, a meteorologist at Rockville, Maryland-based MDA EarthSat Weather. Prices have risen 27 percent this year partly as adverse weather threatened crops in the U.S. and Brazil, the largest grower.