NY juice finishes weaker, market consolidates
* 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)
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