April 20, 2012 / 7:56 PM / in 6 years

NY juice ends up 2 pct, snaps six-week losing streak

* OJ rises on softs commods gains, speculator buying
    * Up over 3 pct in week, snaps 6-week losing streak
    * Coming Up: US Federal Reserve policy meeting Tuesday

    NEW YORK, April 20 (Reuters) - Orange juice futures ended 2
percent higher on Friday, notching its biggest weekly rise in
seven weeks, as gains in the grain markets and buying by small
speculators triggered buying after orange juice's recent
    Key July frozen concentrated orange juice rose 3.20
cents, or 2.2 percent, to close at $1.5065 per lb after trading
from $1.479 to $1.522.	
    The citrus market posted an over three percent gain for the
week. The rise snapped a six-week losing streak as speculators
unwound bullish bets based on speculation of supply shortage due
to a banned U.S. fungicide found in Brazilian imports earlier
this year.	
    One Florida-based softs trader said that outlook for the
citrus market appeared improving after breaking above the $1.50
level, but thin volume suggested the market could be vulnerable
for a pullback. 	
    Volume traded on Friday amounted to around 1,610 lots, about
30 percent below the 30-day norm, preliminary Thomson Reuters
data showed.	
 (Reporting By Frank Tang; Editing by Marguerita Choy)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below