orange juice futures

orange juice futures

September 13th, 2017

Florida fruit growers and farmers have just barely begun to assess the damage Hurricane Irma wrought on the state’s citrus, sugar cane and vegetable crops — but they expect it will be significant.

With power and communications still out across much of Florida, officials said Tuesday that getting a full picture will take weeks. What remains unknown: Exactly how much damage the crops suffered, how much producers might recover from crop insurance and how much more people might pay for their morning orange juice.

“Irma went right up the middle. It didn’t matter where you were, because Irma was so wide,” said Mark Hudson, the Florida state statistician with the National Agricultural Statistics Service. Extension and Farm Service Agency agents have just started evaluating the losses, he said, “if they can get fuel and if they can get out.”

Florida’s orange harvest usually begins around Thanksgiving, and about 90 percent of it becomes juice. Projections for the 2016-2017 growing season had called for 68.5 million boxes of oranges and 7.8 million boxes of grapefruit. The orange crop was worth over $886 million, according to USDA figures, while the grapefruit crop was worth nearly $110 million.
Crews work to restore Florida’s electricity after Hurricane Irma

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crude oil futures quotes

crude oil futures quotes

July 24th, 2017

Crude oil futures rose on Monday, erasing early losses after leading OPEC producer Saudi Arabia pledged to cut its exports to help speed the rebalancing of global supply and demand.

Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day (bpd) in August, almost 1 million bpd below levels a year ago.

Brent September crude futures (LCOc1) were up 44 cents on the day at $48.50 a barrel by 1313 GMT, having risen from a session low of $47.68.

NYMEX crude for September delivery (CLc1) rose 39 cents to $46.16.

“This is the Saudis saying they view the current market conditions as too weak and they are actually delivering,” said SEB commodity strategist Bjarne Schieldrop.

“It shows real additional willingness on their part to do something, which is hugely important, rather than sitting back and letting OPEC motions roll forward. They’re acting unilaterally and adding pressure.”

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cocoa futures news

cocoa futures news

January 6th, 2017

Cocoa futures prices rose on Friday as disgruntled soldiers seized control of the second largest city in the world’s top grower Ivory Coast, prompting a wave of short covering, though the New York market turned lower along with the weak British pound.

Sugar and coffee futures eased.

March London cocoa settled up 12 pounds, or 0.7 percent, at 1,821 pounds per tonne, after surging 2.2 percent to a two-week high at 1,848 pounds following the reports from Ivory Coast.

Unrest in Ivory Coast appeared to be spreading with reports that gunfire had erupted in the western cocoa growing region of Daloa, hours after soldiers demanding salary increases seized the second largest city, Bouake.

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gold futures blog

gold futures blog

March 1st, 2016

Gold futures rose in European trade on Tuesday, with prices re-approaching the highest level in a year amid mounting expectations for further stimulus measures from central banks in Asia and Europe.

Weak Chinese manufacturing activity data released earlier underlined concerns over the health of the world’s second largest economy and raised hopes of additional stimulus measures in the near-term to support growth.

The official China manufacturing purchasing managers’ index fell to a three-year low of 49.0 in February from 49.4 a month earlier, below expectations for 49.3. Meanwhile, the Caixin manufacturing purchasing managers’ index came in at 48.0 last month, contracting for the 12th straight month.

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