Orange Juice Falls to 13-Month Low After Florida Rain Eases Drought Threat

(Bloomberg) -- Orange-juice futures fell to the
lowest closing price in 13 months after weekend rains in
Florida, the biggest producer after Brazil, eased concerns that
a drought might damage fruit.

Central and southern Florida, where citrus groves are
concentrated, received 2 inches (5 centimeters) to 5 inches of
rain during the weekend, said Joel Burgio, a meteorologist with
Meteorlogix LLC in Woburn, Massachusetts. The showers will help
the state make up for a shortfall of rain from January through
March, he said.


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