Orange juice futures have their biggest jump in more than a year after the government reduced its estimate for the crop in Florida. Corn prices also rose.

The May orange juice contract jumped 8.6 cents to $1.3315 a pound, or 6.9 percent. It was the biggest one-day increase since January 2012.

The Agriculture Department cut its forecast for Florida's crop to 139 million boxes, down 1 percent from its February forecast.

May corn rose 12.25 cents to $7.035 a bushel, or 1.8 percent, after the agency forecast an extraordinarily low amount of excess corn at the end of the fiscal year in August.

The 20-day supply is one of the lowest estimates on record, said Jason Ward, an analyst with Northstar Commodity in Minneapolis.

Energy and metals contracts were mixed.




TOWNHALL MEDIA GROUP