NY juice tumbles as Florida freeze forecast to ease

Orange juice futures sank in early trading Monday despite the harshest cold weather of the year hitting big grower Florida because temperatures were forecast to moderate during the rest of the week, analysts said.

The key March frozen concentrated orange juice futures contract dropped 14.75 cents, or 9.7 percent, to $1.364 per lb at 8:07 a.m. EST. It traded $1.3115 to $1.44.

The National Weather Service forecast temperatures in central Florida would climb to around 55 degrees Fahrenheit Monday and hit 70 by Thursday.

Read Full Article from Reuters

- Posted: 2010-01-11 10:39:50

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