Orange Juice Futures Profile

• Ticker Symbol: OJ
• Exchange: ICE Futures
• Trading Hours: 7:00 a.m. to 3:15 p.m. EST.
• Contract Size: 15,000 pounds of orange juice solids
• Contract Months: January, March, May, July, September and November
• Price Quote: Ex $1.0805 per pound
• Tick Size: 5/100 of a cent per pound ($7.50/contract).
• Last Trading Day: Fourteenth business day prior to the last business day of the month.

The process for making FCOJ was invented in Florida in 1947.

The contract for orange juice futures is for frozen concentrated orange juice (FCOJ), since the contract is deliverable and oranges(juice) is perishable.

Most of the FCOJ produced in the US is consumed domestically.

Most of the oranges produced in Florida are used for juice, while most of the oranges produced in California are used for eating.

Brazil is the largest producer of oranges and frozen concentrated orange juice (FCOJ). The United States once held this title, but is now in second place.

Brazilian production is predominately in the Sao Paulo area.

The U.S. and Brazil produce about 60 percent of the world's oranges.

Mexico, Spain, India, Italy, China, Iran, Eqypt and Indonesia also produce oranges.

More than 70 percent of the oranges harvested in the US are processed for orange juice.

Brazil accounts for as much as 80% of the FCOJ export market.

Watch for frost and freezes in Florida during the winter. Most of the orange trees are now concentrated in mid-central Florida and further south. Freezes and disease have OJ acreage to be abandoned north of Orlando. Make sure you look south of Orlando when you look for freeze damage.

Hurricanes in Florida can and have caused damage to orange trees. Watch for major hurricanes moving across the state - Central Florida to upper South Florida.

Brazil mostly has to worry about dry weather and drought to affect production.

Remember that the growing cycles of Florida and Brazil are opposite due to hemispheres.