Colosseum a.s. (Colosseum a.s.)
Commodities  |  February 26, 2013 12:12:28

Concentrate on the fourth day continued to grow

ColosseumFourth day yesterday continued to strengthen the most active futures contract for orange concentrate on the exchange ICE Futures U.S. in response to concerns from drought, which could reduce future yield of citrus in Florida, U.S.. According to the Commodity Weather Group amounted to precipitation in that area in the last 20 months, up to 60% long-term average. Futures on orange concentrate with the May delivery date strengthened during yesterday on ICE Futures U.S. exchange by 0.4% to the closing price of 129.75 cents per pound weight. Since the beginning of orange concentrate price increased already by 11%. According to independent estimates, reduce the U.S. Department of Agriculture in March WASD report, March 8, fourth harvest its estimate for this year, with the result that the price of concentrate could approach 140 cents per pound.

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