Basics on the orange juice commodity and its futures
The Frozen Concentrated Orange Juice (FCOJ) futures contract trades at the Intercontinental Exchange or shorter the ICE Futures U.S., the former New York Board of Trade (NYBOT). The futures’ contract symbol is ‘JO’ for Juice of Orange.
Contract size is 15.000 lbs or approximately 7 metric tons with expiries every second month starting from January (January +2).
Price quotation is US cents per lbs which leverages the futures contract to a factor of 15000.
Maximum daily price movement is 10 cents above or below the previous day’s settlement price. Subsequent price move allowance is typically expanded to 20 cents.
The FCOJ futures’ final settlement is by physical delivery. Origins of deliverables can be the USA, Brazil, Mexico and Costa Rica. Delivery points are exclusively at the US East Coast in Florida, Delaware and New Jersey.
Trading hours are only 6 hours from 8am to 2am EST.
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