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Wednesday, May 31, 2006

Consolidation Hits O.J. Futures

Consolidation hits O.J. futures: Bulls and Bears are fighting for control of the Orange Juice futures market. Prices are beginning to consolidate, as conflicting fundamentals have traders wondering in which direction the next move will be. The most recent bullish news came from a report from an analyst at Citigroup Global Markets, which said that this year's Florida Orange crop would come in 5 to 10 million boxes below the most recent USDA estimate, which currently stands at 153 million 90-lb boxes. Read More....