News Summary: OJ prices surge on Florida forecast

AP News
Posted: Nov 20, 2012 3:30 PM

JUMPING JUICE: Orange juice futures surged 4.2 percent after a government agency predicted last month that Florida's winter would be colder than normal. Traders are speculating that a freeze could hurt crops and cut into supplies.

OIL EASES: The price of oil fell 2.8 percent on signs that Israel and Hamas are close to a cease-fire to end Israel's week-long attacks in the Gaza Strip. A cease-fire could ease concerns about potential oil supply disruptions in the Middle East.

UPS, DOWNS: Prices rose for natural gas, wheat, corn and soybeans. Gold, silver, copper, coffee and gasoline futures fell.