Summary Box: OJ futures jump on supply concerns

AP News
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Posted: Jan 13, 2012 3:46 PM
Summary Box: OJ futures jump on supply concerns

BUNGEE JUMPING: Orange juice futures jumped 3.6 percent on news that Mexico's orange crop may have been damaged by drought. It was the latest in a series of events that sent the contract on wild price swings this week. The price jumped to the highest level since 2007 on Tuesday, then slumped 11 percent over Wednesday and Thursday.

EUROPEAN WORRIES: Most commodities fell on speculation that Standard & Poor's may follow through on warnings to cut the credit ratings of several European governments. A downgrade of triple A nations could complicate the ability of Europe's bailout fund to support struggling countries.

PRICE MOVES: Metals, grains, beans and most energy products fell. Gasoline futures rose.