Orange juice futures are surging on concerns that federal regulators might restrict imports from Brazil.
Orange juice for March delivery rose 10 cents Friday to close at $2.1065 per pound. The price is near a record high.
Traders are worried that juice imports from Brazil could be halted if the U.S. Food and Drug Administration finds traces of a banned fungicide. The FDA started testing for the fungicide this month after low levels were detected in juice supplies. The fungicide is not approved for U.S. consumption, but is used in Brazil.
The FDA said Friday that several recent tests didn't find traces of the fungicide, but inspections are ongoing.
In other trading, gold and silver prices rose while oil fell below $100 a barrel.
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