NEW YORK: Orange juice futures ended lower Wednesday for the second straight session on investor sales as players tweaked their positions ahead of a government crop report at the end of the week, analysts said.
Investors cashed in on the more than 10 percent rise in February triggered by news of a possible ban of Brazilian juice imports that has since largely diminished.
Benchmark May frozen concentrated orange juice fell 1.35 cents to end at $1.885 per lb, dealing from $1.863 to $1.9115. It was an inside day since the range was within Tuesday's $1.85 to $1.93 band.
Volume traded Wednesday stood around 730 lots, almost three-quarters under the 30-day norm, Thomson Reuters data showed.
"I think it's liquidation selling before the crop report on Friday," said The Price Group analyst Jack Scoville.
The US Agriculture Department's monthly supply/demand report will update the Florida 2011/12 citrus production forecast at 8:30 a.m. EST (1330 GMT) on Friday.
Uncertainty over tests by the US Food and Drug Administration given to Brazilian juice imports due to the use of a prohibited fungicide by Brazilian citrus growers has kept prices supported the past few weeks.
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