Orange Juice News
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Florida’s orange crop, the world’s second-largest, will be 10 percent smaller than first forecast in October, the U.S. government said, affirming last month’s estimate and surprising analysts after beneficial rain.
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Brazilian President Dilma Rousseff yesterday won congressional support for a plan to attract private capital and boost investment in ports by $27 billion.
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Following is a table detailing average consumer prices for food and energy products, according to the U.S. Labor Department:
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Cotton futures fell, heading for the third decline in four sessions, on mounting concern that global supplies will be more than sufficient to meet demand. Orange juice fell for the first time in a week.
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Cotton futures rose amid declining output in the U.S., the world’s biggest exporter. Cocoa and orange juice rose, while coffee fell.
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Cotton futures fell for a second straight session on concern that demand will slow from China, the world’s biggest user and importer. Sugar also slid, while orange juice, coffee and cocoa rose.
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The Standard & Poor’s GSCI gauge of 24 commodities was little changed at 629.82 by 5:12 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials rose 0.3% to 1,484.309.
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Unilever, the seller of Lipton tea and Dove shampoo, expects Southeast Asia’s currencies to strengthen further against the U.S. dollar and euro in the next few years as foreign investment boosts economic growth.
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Cotton futures rose for the third straight session on speculation that adverse sowing conditions may curb output in the U.S., the world’s biggest exporter. Sugar and coffee also gained. Orange juice and cocoa slid.
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The Standard & Poor’s GSCI gauge of 24 commodities dropped 0.8 percent to 624.66 by 4:50 p.m. in London, heading for a monthly decline of 4.6 percent. That would be the biggest monthly drop since May. The UBS Bloomberg CMCI index of 26 raw materials was down 0.5 percent at 1,481.091.
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