Tuesday, December 11, 2012

Orange juice hits 3-month high as USDA slashes crop forecast

* Fruit droppage highest in more than 50 years-USDA
* Crops hurt by lack of rainfall

NEW YORK, Dec 11 (Reuters) - New York orange juice futures
rallied to three-month highs on Tuesday amid concerns about
falling supplies after the U.S. government slashed its orange
crop forecast for Florida, the country's top growing state, for
the 2012/13 marketing season.
In its first crop report since October, the U.S. Department
of Agriculture cut its crop forecast for Florida by 8 million
boxes

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