COMMODITY BRIEFS

COMMODITY BRIEFS

CFTC APPROVES PLAN

FOR NEW JUICE CONTRACTThe Commodity Futures Trading Commission Thursday approved a request by the Citrus Associates of the New York Cotton Exchange to trade another futures contracts in frozen concentrated orange juice No. 2.

Exchange officials said they expected the contract to begin trading soon.

The contract calls for delivery of 15,000 pounds of orange solids in the form of frozen concentrated orange juice.

Unlike the existing FCOJ contract, this contract would require the deliverable FCOJ to have a total "score" of 92, with the three component factors subject to certain minimum score levels. These include 36 for color, 36 for flavor and 19 for defects.

The existing contract requires scores of 37 for color, 37 for flavor and 19 for defects.

The contract will be quoted in cents and hundredths of 1 cent a pound. The speculative position limits for the contract are 150 contracts for the spot month, 1,000 contracts in any individual month other than the spot month and 1,000 contracts for all months combined.

MALAYSIA JOINS FORCES

FOR STABLE COCOA MART

ACCRA, Ghana - Malaysia has said it is willing to support the International Cocoa Organization and the Cocoa Producers Alliance in their efforts to stabilize the cocoa market.

Lim Keng Yaik, Malaysian minister for prime industries, was quoted as telling officials from Ghana's Cocoa marketing board (Cocobod) late Wednesday ''We can now increase cooperation to make the market stable." Malaysia is the fourth largest cocoa-producing country, but has so far refused to join the ICCO or the CPA.

Mr. Lim is heading a seven-person delegation here for talks aimed at increasing cooperation in research, agronomy and quality control.