Orange

USDA’s March crop production reports and supply and demand estimates showed minor changes this week.  The U.S. orange production forecast rose slightly month over month, yet will still be down 25% year over year.    Turning to domestic commodity balance sheets, an upward adjustment in ending stocks for corn led to a decrease of 10 cents to the season ending average price, now at $6.60 a bushel. 

For a change, the latest drop in USDA's monthly orange crop production forecast is not because of the Florida crop.   "For this month, it is unchanged for our Valencias and our non-Valencias," said USDA Florida State Statistician Mark Hudson. ...