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What is ice's orange juice futures contract?

The IntercontinentalExchange (ICE) has specified the asset in its orange juice futures contract as frozen concentrates that are US Grade A with Brix value of not less than 62.5 degrees. For some commodities a range of grades can be delivered, but the price received depends on the grade chosen.

What is frozen concentrated orange juice futures trading?

Futures trading in frozen concentrated orange juice started in 1945 and is claimed to be one of the reasons for oranges taking one of the top spots in U.S. crops. Currently, frozen concentrated orange juice futures contracts trade on the ICE exchange.

How much does a orange juice futures contract cost?

One orange juice futures contract is on 15,000 pounds of frozen concentrate. Suppose that in September 2014 a company sells a March 2016 orange juice futures contract for 120 cents per pound. In December 2014, the futures price is 140 cents; in December 2015, it is 110 cents; and in February 2016, it is closed out at 125 cents.

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