NEW YORK: Orange juice futures finished slightly higher Monday on investor buying as the lack of a freeze threat to the key citrus growing state of Florida kept market dealings subdued, brokers said.
The key March FCOJ contract rose 0.45 cent to end at $1.641 per lb, trading from $1.6285 to $1.70.
Total volume traded in the market reached 3,700 lots, over 80 percent above the 30-day norm, Thomson Reuters data showed.
Weather service Accuweather said conditions in central Florida will be mild over the next two weeks with no freeze threat on the horizon.
"There is no weather to speak of so it's just going back and forth," a dealer said.
Freezes struck Florida in 2010 and in 2011, causing damage to fruit and stressing citrus trees in the Sunshine State.
Traders said there was also a lot of switch trade as players moved their positions out of the spot January contract before it goes into delivery notice next month.
Open interest came to 26,452 lots as of Dec. 16, ICE Futures US data said.
Volume traded Friday hit 4,487 lots, exchange figures showed.
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