Your browser of choice has not been tested for use with Barchart.com. If you have issues, please download one of the browsers listed here.
Jump-Start Your Search For Promising Trade Ideas With Barchart Premier’s "Top Stock Pick". FREE 30 Day Trial
Stocks | Futures | Watchlist | More
or
Orange Juice Nov '23 (OJX23)
[[ item.lastPrice ]] [[ item.priceChange ]] ([[ item.percentChange ]]) [[ item.tradeTime ]] [ICE/US]
[[ item.bidPrice ]] x [[ item.bidSize ]] [[ item.askPrice ]] x [[ item.askSize ]]
[[ rootItem.symbol ]]underlying price [[ rootItem.lastPrice ]] [[ rootItem.priceChange ]] ([[ rootItem.percentChange ]]) [[ rootItem.tradeTime ]]
Contract Specifications for [[ item.sessionDateDisplayLong ]]
Barchart Symbol OJ
Exchange Symbol OJ
Contract Orange Juice [FCOJ-A]
Exchange ICE/US
Tick Size 0.05 cents per pound ($7.50 per contract)
Margin/Maintenance $5,068/4,608
Daily Limit 10 cents per pound ($1,500 per contract)
Contract Size 15,000 pounds
Months Jan, Mar, May, Jul, Sep, Nov (F, H, K, N, U, X)
Trading Hours 7:00a.m. - 1:00p.m. (Settles 12:30p.m.) CST
Value of One Futures Unit $150
Value of One Options Unit $150
Last Trading Day 15th last business day of the expiry month

Description

The orange tree is a semi-tropical, non-deciduous tree, and the fruit is technically a hesperidium, a kind of berry. The three major varieties of oranges include the sweet orange, the sour orange, and the mandarin orange (or tangerine). In the U.S., only sweet oranges are grown commercially. Those include Hamlin, Jaffa, navel, Pineapple, blood orange, and Valencia. Sour oranges are mainly used in marmalade and in liqueurs such as triple sec and curacao.

Frozen Concentrated Orange Juice (FCOJ) was developed in 1945, which led to oranges becoming the main fruit crop in the U.S. The world's largest producer of orange juice is Brazil, followed by Mexico. Two to four medium-sized oranges will produce about 1 cup of juice, and modern mechanical extractors can remove the juice from 400 to 700 oranges per minute. Before juice extraction, orange oil is recovered from the peel. Approximately 50% of the orange weight is juice, with the remainder being peel, pulp, and seeds, which are dried to produce nutritious cattle feed.

The U.S. marketing year for oranges begins December 1 of the first year shown (e.g., the 2005-06 marketing year extends from December 1, 2005, to November 30, 2006). Orange juice futures prices are subject to upward spikes during the U.S. hurricane season (officially June 1 to November 30), and the Florida freeze season (late-November through March).

Frozen concentrate orange juice futures and options are traded at the Intercontinental Exchange (ICE). The ICE orange juice futures contract calls for the delivery of 15,000 pounds of orange solids and is priced in terms of cents per pound.

Prices - ICE frozen concentrate orange juice (FCOJ) futures prices (Barchart.com symbol OJ) posted their low for 2022 of 132.35 cents in February. FCOJ prices pushed higher into Q2 when they posted a 6-year high of 194.95 cents in April. Citrus greening disease decimated Florida's 2021/22 orange crop, which fell to 41.05 million boxes, the smallest since 1943. Also, drought in Brazil, the world's largest orange juice exporter, ravaged its crop and sent Brazil's orange juice inventory to a 5-year low. FCOJ prices fell back slightly into July as the drought in Brazil eased, which prompted the USDA to project a global 2021/22 orange crop of 49.014 MMT, up +4% y/y. FCOJ prices then resumed their rally to a new 6-year high in November of 231.00 cents. Hurricane Ian blew fruit from trees and flooded Florida's orange groves in October, prompting the USDA to cut the Florida 2022/23 orange crop to 16 million boxes, down 61% yr//y and the smallest crop since 1936. Also, U.S. FCOJ supplies tightened further as U.S. stockpiles of orange juice in cold storage sank to a 51-year low in December. FCOJ prices finished 2022 up +41% yr/yr at 206.40 cents.

Supply - World production of oranges in the 2021/22 marketing year rose by +3.8% yr/yr to 49.014 million metric tons. The world's largest producers of oranges in the 2021/22 marketing year were Brazil with 34.5% of world production, followed by China with 15.4%, the European Union with 12.4%, Mexico with 8.7%, and the U.S. with 7.1%.

U.S. production of oranges in 2021/22 fell by -20.7% yr/yr to 81.650 million boxes (1 box equals 90 lbs). Florida's production in 2021/22 fell by -22.5% yr/yr to 41.050 million boxes, and California's production fell by -17.6% yr/yr to 40.400 million boxes.

Information on commodities is courtesy of the CRB Yearbook, the single most comprehensive source of commodity and futures market information available. Its sources - reports from governments, private industries, and trade and industrial associations - are authoritative, and its historical scope for commodities information is second to none. The CRB Yearbook is part of the Barchart product line. Please visit us for all of your commodity data needs.

More Orange Juice Quotes

Want to use this as
your default charts setting?
Save this setup as a Chart Templates
Switch the Market flag
for targeted data from your country of choice.
Open the menu and switch the
Market flag for targeted data from your country of choice.
Want Streaming Chart Updates?
Switch your Site Preferences
to use Interactive Charts
Need More Chart Options?
Right-click on the chart to open the Interactive Chart menu.

Free Barchart Webinar