Orange juice futures surge on fears the U.S. government could ban Brazilian oranges.
NEW YORK (CNNMoney) -- Orange juice futures surged Tuesday amid fears the U.S. government could ban Brazilian oranges after low levels of fungicide were detected by a juice company.
March orange juice futures jumped 9.6%, or 20 cents, to $2.0775 a pound on the ICE Futures Exchange, which traders said was the highest level since 1977.
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