Orange Juice Futures

Trading Unit - 15,000 lbs. of orange solids (3% more or less).

Trading Hours - 10:00 a.m. - 1:30 p.m. (NY time).

Price Quotation - Prices quoted in cents and hundreths of a cent.

Trading Months - January, March, May, July, September, November with at least two January months listed at all times.

Ticker Symbol - OJ

Minimum Fluctuation - 5/100 of a cent per pound ($7.50 per contract).

Last Trading Day - 14th business day prior to the last business day of the month.

First Notice Day - First business day of contract month.

Daily Price Limit - Daily limit: 5 cents ($7.50 per contract) above or below the previous day's settlement price.
Spot Month Limit: A moveable 10 cents ($1500 per contract) above or below the previous day's settlement price. Additionally, on and after first notice day of the spot month, this same moveable 10 cent limit also applies to the next nearby contract month. Wider limits can take affect under certain market conditions. Also, substantial price moves (2,000 points or more) can activate imputed settlement prices.

Point Value - $1.50

Basis Grade - U.S. Grade A with a Brix value of not less than 62.5 degrees.

Delivery Points - Exchange licensed warehouses in Florida, New Jersey, Delaware and California.

Delivery Methods - Drums or tanks, at the seller's option.

Click on the link above to download a printable .pdf reference sheet entitled “ICE Futures FCOJ-A Futures” which contains the current orange juice futures contract specifications. The FCOJ-A futures contract is the world benchmark contract for the frozen concentrated orange juice market. The contract prices physical delivery of exchange-grade product (with grading performed by the United States Department of Agriculture), country of origin US and/or Brazil (*commencing with the July ‘09 expiration, origins allowed are the U.S., Brazil, Costa Rica and Mexico), in store in exchange-licensed warehouses in the U.S.