Commodity Blog

Posts Tagged ‘orange-juice’

Cattle prices touched a record for the fifth time this month as cattle suppliers are unable to keep up with rising demand for US beef. Farmer’s haven’t been able to provide enough supply to meatpackers as drought made them to cut herds earlier this year. Prices for feeder-cattle also rose. April futures for delivery of cattle gained 0.5 percent to $1.285 per pound by 9:27 on CME and reached the record high of $1.29325 earlier. March contract for feeder-cattle deliver went up 0.5 percent to $1.547 per, while earlier the settlement reached the all-time high of $1.55275.

Orange-juice futures also reached a record today. Citrus crops in Texas were hit by greening disease that has already caused an extensive damage to plants in Florida. At the same time, the US Food and Drug Administration halted juice imports from Brazil to check for banned fungicide. Futures for delivery of orange juice in March rose by the exchange limit of $0.1 (5 percent) to the record of $2.1065 per pound as of 11:00 on ICE.

Wheat rose on speculation that demand for US exports increased. US wheat inspected for export totaled 17.5 million bushels last week, 53 percent more compared to a year ago. March futures for wheat delivery gained $0.18 (2.3 percent) to $7.9825 per bushel by 13:15 on CBoT.

Crude oil jumped to the highest level in 26 months as holiday retail sales in the US were best in five years and on forecast that inventories of crude would decline further. Holiday sales grew 5.5 percent to $584 billion from November 5th to December 24th, while the growth was 4.1 percent in the previous year. February delivery for crude oil rose $0.49 (0.5 percent) to $91.49 per barrel on NYMEX.

Orange-juice fell to the lowest level in two weeks as damage to citrus groves in Florida was not as significant as was previously estimated. The prices dropped as traders began selling the commodity, bought amid panic and speculations. March delivery for orange juice slipped $0.0695 (4.1 percent) to $1.6175 per pound as of 14:00 on ICE.

Soybeans reached the highest level in 16 months on speculation about growing demand for supplies from the US, the biggest grower and exporter in the world. Exporters sold 280,000 metric tons of soybeans to China, while consumption of soybean oil by US producers of animal feed and vegetable oils rose last month by 16 percent to 124.9 million bushels from the previous year. January futures for soybean delivery gained $0.145 (1.2 percent) to $12.015 per bushel as of 10:35 on CBoT.

Orange-juice futures tumbled to the lowest level in five weeks on waning concerns that storms will harm groves in Florida, the second-biggest citrus grower in the world. Florida’s orange crop in 2010 expected to be 9.3 percent larger than in the previous season. December delivery for orange juice slumped $0.0475 (3.2 percent) to $1.4365 per pound by 13:11 on ICE.

Wheat futures gained today after the government reported about increasing exports from the US, the largest grower in the world. The US exported 808,447 metric tons of wheat in the week ended September 30th, 29 percent more than in a week before. A weaker dollar also increased attractiveness of US exports. December futures for wheat delivery gained $0.01 (0.2 percent) to $6.5925 per bushel by 13:15 on CBoT.

Futures for orange-juice rallied as speculators cover short positions ahead of a government forecast about citrus crop in Florida, the second largest growing region in the world. The harvest in Florida, which ended in June, totaled 133.6 million boxes and was the second-smallest in two decades as frosts in January damaged fruit crop. Analysts estimated that current harvest will result in 150.7 million boxes, up 13 percent from the previous season. November delivery for orange juice rose $0.011 (0.7 percent) to $1.5155 per pound as of 13:18 on ICE.

Futures for orange-juice climbed to the highest level in three years as adverse weather may decrease citrus yield. Rainy season in Brazil delayed for about two weeks this year and rains expected to start next week. As a result of dry weather output of the main Brazil’s growing region estimated to total 271.7 million boxes of oranges, the smallest crop since 2001. Futures for November delivery orange-juice advanced $0.0525 (3.3 percent) to $1.6495 per pound at 10:23 on ICE.

Cocoa rose today to the highest level in four weeks on concerns that excessive rains would damage production in Ivory Coast, the largest grower in the world. Rainfall in Daloa region, the largest growing area, more than doubled from September 1st to September 10th compared with the same period in the previous year, threatening to curb output. December futures for cocoa delivery rose $21 (0.8 percent) to $2,800 per metric ton by 10:23 on ICE.

Wheat prices went up today on speculations that a weaker dollar would increase demand for US exports. Egypt, the biggest wheat buyer in the world, purchased 220,000 metric tons of grain from the US today. December futures for wheat delivery climbed $0.0475 (0.7 percent) to $7.2275 per bushel as of 11:27 on CBoT.

Wheat prices slipped today on speculation that output from the US would increase and on outlook for higher production in Australia. Australia’s harvest may reach as much as 25.1 million metric tons. Plenty of rainfalls improved moisture in the US southern Great Plains, boosting outlook for crop. December futures for wheat delivery slid $0.0375 (0.5 percent) to $7.3225 per bushel by 10:58 on CBoT.

Orange-juice futures rose to the highest level in six weeks on signs of increasing global demand. US exports of fresh oranges in July were twice as much as in the same period the last year. At the same time, outlook for supplies worsened as Brazil, the biggest grower in the world, will produce the smallest crop in at least eight years after an excessive precipitation harmed harvest. November delivery for orange juice gained $0.016 (1.1 percent to $1.481 per pound as of 14:00 on ICE.

Wheat rose today on speculation that dry weather in Western Europe and in countries near Black Sea would damage output. Wheat is heading for the sixth consecutive gain. September futures for wheat delivery gained $0.0115 (0.2 percent) to $5.3175 per bushel by 10:06 on CBoT.

Copper futures dropped in New York, paring previous gains, concerns resurfaced that slower economic growth would damp demand for the industrial metal. The International Monetary Fund stated yesterday that “recent global stability gains are threatened” by the European debt crisis. September futures for copper delivery slid $0.007 (0.2 percent) to $3.008 per pound as of 11:41 on COMEX.

Orange-juice futures dropped on forecast that production in Florida, the second-largest producer in the world, would be bigger than previously expected. The harvest, that ends this month, estimated to be 134 million boxes, compared to the June estimates of 133.6 million. September delivery for orange juice slipped $0.0765 (5.3 percent) to $1.3785 per pound by 13:00 on ICE.

Wheat gained today amid speculations that demand might increase with shortage of corn. U.S. farmers sowed less acreage with corn than was predicted. Corn is competing grain used to feed livestock, therefore shortage of corn boosts wheat. September futures for wheat delivery gained $0.075 (1.6 percent) to $4.8775 per bushel as of 10:01 on CBoT.

Orange-juice futures rose to the highest level in 15 weeks as hurricanes threaten to damage citrus harvest this season in Florida. According to government’s forecasts, orange crop in Florida would drop to 133.6 million boxes in the harvest ending in July from 162.5 million boxes in the previous season. Speculator increased their net-long positions as of June 22nd by 26 percent from the previous week. September delivery for orange juice added $0.0015 (0.1 percent) to $1.485 per pound by 12:07 on ICE.

Orange-juice futures dropped on forecast that the crop in Florida, the second biggest producer in the world, would be bigger than previously predicted. Forecast says that yield would total 133.6 million boxes in the harvest ending in July, 1.5 percent up from previous estimates. July futures for orange-juice delivery declined $0.0045 (0.3 percent) to $1.3785 per pound yesterday on ICE.

Cotton prices climbed today to the highest level in a week after exports in the U.S. jumped amid speculation that the global economic recovery would retain its pace, boosting the demand. U.S export sales of cotton jumped to 624,200 running bales in the week ended June 3rd, more than three times compared to the week before. December delivery for cotton jumped $0.0144 (1.9 percent) to $0.7907 per pound on ICE Futures U.S. in New York.

Wheat gained today after the U.S. government predicted that domestic inventories of corn, which is used for feeding livestock, would decline more than expected. Stockpiles expected to fall to 1.603 billion bushels by the end of the marketing year on August 31st. July futures for corn delivery went up $0.05 (1.5 percent) to $3.4325 per bushel on CBoT.

Sugar prices dropped as Brazil’s output rose this year and India may increase production in the year starting October 1st. Prices’ downfall may cause decline in global supplies, as low prices make expanding production unprofitable. This may cause global deficit as demand continue to increase, leading to rebound of prices for the sweetener. July delivery for raw sugar dropped 2.9 percent to $0.1492 per pound in New York yesterday.

Orange-juice futures jumped today to the highest level in two weeks amid concerns that citrus groves in Florida, the second biggest citrus producer, will be harmed by hurricanes. Forecasts tell that this is an active year with 14 to 23 named storms in the season beginning June 1st and 8 to 14 among them will develop into hurricanes. July delivery for orange juice climbed $0.023 (1.6 percent) to $1.435 per pound by 10:03 a.m. on ICE Futures U.S.

Rubber rose today on signs of increasing demand in China, the largest buyer, which should outweighing concerns for decreasing demand from Europe. Chinese demand can boost rubber prices by at least 25 percent to the 30-year high. November delivery for rubber rose 1.8 percent to 286.20 yen as of 14:17 in Tokyo.