Orange-juice futures surge

Prices soar 9.7% after the federal government said some Brazilian imports contained a potentially harmful fungicide

The market for orange juice futures received another jolt after the federal government said some Brazilian imports contained a potentially harmful fungicide.

The news on Tuesday sent prices of the January contract soaring 9.7% to a record settlement as traders fretted that the appearance of the fungicide could lead to a sharp reduction in Brazilian orange juice imports.

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