NY juice finishes weaker, market consolidates

Thu Apr 26, 2012 2:43pm EDT

* Market weaker but pinned in wide range
    * Trade eyes Florida growing weather

    NEW YORK, April 26 (Reuters) - Orange juice futures settled
lower on Thursday on light selling by small speculators as the
market seemed to be consolidating following its recent fall to a
19-month low, analysts said. 	
    Key July frozen concentrated orange juice fell 1.05
cents to close at $1.457 per lb, moving from $1.45 to $1.4785.	
    Two days ago on Tuesday, the contract ended at $1.4185 which
marked the lowest settlement in 19 months for the
second-position contract, according to Thomson Reuters data. 	
    "It's featureless and there is not a whole lot of activity
going on at this time. We're stuck between $1.40 and $1.50," a
dealer said.	
    Traders said the combination of good growing weather in
major citrus grower Florida and weak retail demand has put
steady pressure on juice contracts along with a lack of news in
the market.	
    Volume on Thursday was nearly 1,100 lots, almost two-thirds
below the 30-day norm, preliminary Thomson Reuters data showed.	
    Open interest, an indicator of investor exposure, fell for
the first time in three sessions to 20,568 lots as of April 25,
ICE Futures U.S. data showed.	
	
 (Reporting by Rene Pastor; Editing by Bob Burgdorfer)