What Are Orange Juice Futures?
For investors with the ability to trade futures and understanding of the nuances of futures market, there is an opportunity to gain exposure to orange juice prices. The FCOJ-A futures contract is the world benchmark contract for the global frozen concentrated orange juice market. The contract prices physical delivery of U.S. Grade A juice (with grading performed by the U.S. Department of Agriculture). Allowed countries of origin are the U.S., Brazil, Costa Rica and Mexico.
Orange juice futures are traded on the ICE under the symbol OJ; each contract represents 15,000 pounds of orange juice solids. Prices are quoted in cents and hundredths of cents per pound, and contract listings include January, March, May, July, September, and November. Deliverable product must be US Grade A with a Brix value of not less than 62.5 degrees. The last trading day is the 14th business day prior to the last business day of the month.