Hurricane concerns persistThis article was originally published in Foodnews
FCOJ FUTURES ended 0.5% lower on 27 June after the previous session's sharp rally, but short-term supply concerns ahead of the Brazilian crop and hurricane fears continue to underpin prices. A developing weather system in the Gulf of Mexico over the eastern Bay of Campeche has a 30% chance of developing into a tropical cyclone during the next 48 hours, according to the US National Hurricane Center. The most-active September juice futures fell 1.1 cents to settle at USD1.9155 per lb solids. Earlier, it reached a one-week low of USD1.8470/lb. On 24 June, the September contract reached a high of USD1.937/lb.