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Orange juice futures surge on Fla. crop concerns

Source : AP
Last Updated: Wed, Dec 12, 2012 21:15 hrs

's crop production.

Frozen orange juice concentrate for January delivery rose 3.2 percent to finish Wednesday at $1.341 per pound.

Southern Florida has been dry, which analysts say has hurt the orange crops. Traders also are concerned about the potential of a winter frost that could damage oranges on the trees.

The U.S. Agriculture Department predicts Florida's orange production will total 146 million boxes after next year's harvest. That's down 5 percent from its October forecast and slightly lower than last season's harvest.

Other commodities are mostly higher after the Federal Reserve took additional steps to boost U.S. economic growth.

Prices are up for gold, industrial metals, oil and soybeans. Natural gas, wheat and corn are lower.




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