Dow Jones FCOJ Review, featuring XPRESSTRADE Analyst Mike Zarembski

March frozen concentrated orange juice futures fell, as traders picked up
from where they left off the previous day and resumed selling the market with
no threat of freezing temperatures in Florida, sources said Friday.

Most-active March FCOJ settled 110 points lower at $1.2425 a pound on the New
York Board of Trade. May fell 80 points to $1.2500.

The Nybot will be closed Monday for the Martin Luther King Jr. holiday.
Regular trading hours will resume on Tuesday.

"After yesterday's (Thursday) surprisingly bearish close with the supply
number, I think it was more follow-through selling here as traders are thinking
that values are fairly priced for the crop size and they might try the downside
here," said Mike Zarembski, analyst and futures desk manager at
XPRESSTRADE.com in Chicago.

The U.S. Department of Agriculture on Thursday scaled back its 2005-06
Florida orange production estimate to 158 million 90-pound boxes, from 162
million in December. While the decline was more than expected, prices still
closed lower. The lower estimate is due to hurricane damage, production lost to
citrus canker and other diseases and small fruit size.

Friday's market was simply a continuation of that recent bearish theme,
sources said.

In addition, Florida temperatures have been mild for January, and there is no
risk of damaging cold in sight. Readings are expected to be near to below
normal on Sunday, then near to above normal Monday and above normal on Tuesday,
DTN Meteorlogix said.

The lack of a freeze and the mild temperatures may have prompted some bullish
traders to liquidate positions ahead of the long holiday weekend, Zarembski
said.

Meanwhile, Florida agriculture officials in conjunction with the USDA have
begun to look at ways other than complete eradication in dealing with citrus
canker. The current law states that any tree within a 1,900-foot radius of an
infected one must be destroyed, but the USDA said Wednesday that it no longer
believes the disease can be wiped out.

"We'll be working with the USDA and their scientific people to develop the
best management practices and other management recommendations for what will
become a suppression/management program rather than an all-out eradication
program," said Terence McElroy, spokesman at the Florida Department of
Agriculture and Consumer Services.

It will take about 30 to 60 days to come up with a new plan, McElroy said.

Though prices will have to travel another 6.75 cents to the downside, if
March FCOJ can break the $1.1750 level "that would confirm that the highs may
be in for the season," Zarembski said.

March FCOJ finds technical support at $1.2365, $1.2340, $1.2215, $1.2160 and
$1.20. Resistance is pegged at $1.2520, $1.2550, $1.2710, $1.2750 and $1.2790.

FCOJ futures volume was estimated at 1,198 contracts, with 388 calls and 285
put options traded.