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Florida orange crop was unchanged compared to October at 190 mln boxes. The figure of 190 mln boxes would be 22% below last year's record harvest of 244 mln boxes. |
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Feb crude oil last Thursday rose +30 cents to close at $12.05 after posting a contract low of 10.75 on Dec 21st. On that low, crude oil plunged 2.20 dollars (16.98%) from the Dec 16th 1-1/4 month high at 12.95. US and UK jets returned fire upon an Iraqui missile site in response to a second anti-craft attack last week. Last Tuesday, API reported that crude oil inventories declined a bullish 2.4 mln barrels. Colder weather in the US is expected to help normalize demand which has dipped below average during the warm start to the winter heating season. Analysts have noted that budgets deficits in Saudi Arabia may prevent crude oil production cuts in the first half of 1999. |
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