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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orange juice futures

orange juice futures

Sepember 5th, 2017

Orange-juice futures jumped by more than 6% Tuesday, set to mark their highest settlement since mid-May on fears Hurricane Irma could blast key orange-producing areas of Florida.

In a tweet Tuesday, the National Hurricane Center said, “Irma is the strongest hurricane in the Atlantic basin outside of the Caribbean Sea & Gulf of Mexico in NHC records.”

The storm’s projected path could take it to Florida in the next several days. A state of emergency has been declared in Puerto Rico, the U.S. Virgin Islands and Florida as the Category 5 storms heads for the region. It’s expected to strengthen further before making landfall in the Caribbean later Tuesday.

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orange juice futures

orange juice futures

July 29th, 2014

Orange-juice futures slumped to a five-month low on Tuesday as weak demand for the beverage trumped fears of a hurricane damaging Florida’s next crop.

Frozen, concentrated orange juice for delivery in September fell 2.2% to $1.4475 a pound, the lowest closing price since Feb. 19 on the ICE Futures U.S. exchange.

A disturbance in the Atlantic Ocean shows a 70% chance of tropical cyclone formation in the next 48 hours, according to the National Weather Service. Usually, that kind of news boosts the orange-juice market, as previous hurricanes that have hit top orange-producing state Florida have damaged groves and ripped fruit from the trees.

“There still do not appear to be any major storms in sight in the Atlantic to hurt production, but traders will keep an eye on the developments of the system in the Atlantic to see if it grows and what its track might be,” said Jack Scoville, vice president at Price Futures Group in Chicago.

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orange juice futures

orange juice futures

June 29th, 2014

Orange-juice futures posted the biggest weekly loss in eight months last week as weak demand for the beverage in the U.S. undercut concerns about supplies.

U.S. consumers bought 36.99 million gallons of orange juice during the four weeks ended June 7, down 6.9% from a similar period a year ago, according to Nielsen data. It was the lowest level of total sales in 12 years, the oldest data available.

More variety in the juice aisle and rising orange-juice prices in grocery stores have been factors in the weaker demand, analysts have said.

Frozen, concentrated orange juice for delivery in September on the ICE Futures U.S. exchange fell 6% to end the week at $1.4865 a pound, the largest drop since October.

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Orange Juice Fresh-Squeezed Gains

On June 25, 2014, in orange juice futures news report, by Infinity Trading
orange juice futures

orange juice futures

June 24th, 2014

Even the most obscure commodities can be profitable if an investor strikes at the right time.

And, as Wall Street Daily Founder, Robert Williams, recently pointed out, there’s a juicy opportunity in oranges [1] right now.

That’s because orange juice exports to overseas markets are exploding, even as supplies shrink to a 29-year low.
Putting the Squeeze on Crop Yields

Florida is the world’s second-largest orange producer, and right now its orange crop is dwindling. In fact, the Department of Agriculture announced not long ago that the Florida orange crop will be the smallest since 1985!

So it’s not surprising that the price of orange juice has jumped 18% in 2014.

The poor crop collection is being partly attributed to an infestation of Asian citrus psyllids, gnat-sized insects that carry a bacterial disease that causes oranges to shrink and drop off the tree early.

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U.S. Juice Pouring Into South Korea

On June 10, 2014, in orange juice futures news report, by Infinity Trading
orange juice futures

orange juice futures

June 10th, 2014

South Korea is helping to ease the squeeze on Florida’s orange-juice industry.

The nation imported 13.2 million gallons of U.S. orange juice this year through April, compared with 16.5 million gallons in all of 2013 and three million gallons in 2011. This year, it is the No. 2 customer for U.S. orange juice after Canada, up from eighth place three years ago.

And the fast growth is expected to get a further boost after the U.S. and South Korea resolved a trade dispute in April—welcome news for orange-juice producers facing declining American consumption. Once a staple of the U.S. breakfast table, domestic sales have fallen 34% by volume over the past decade as Americans switch to exotic juices, sports drinks and flavored waters.

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orange juice trading

orange juice futures

June 5th, 2014

Orange-juice futures edged to two-week highs on Monday as traders anticipated the U.S. Department of Agriculture’s monthly production estimates, due June 11.

Federal forecasters are already calling for the smallest Florida orange crop in 24 years during the season that wraps up Sept. 30. The harvest in the top U.S.-orange growing state, however, is expected to finish in this month, and any further reduction to the crop would be bullish for the market, traders and analysts say.

Orange juice for delivery in July on the ICE Futures U.S. exchange was recently up 0.8% at $1.6065 a pound, the highest intraday level since May 15.

Last month, the USDA revised Florida’s orange crop up by 0.3% to 110.3 million 90-pound boxes–a surprise for the market, which was expecting another reduction.

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orange juice brokers

orange juice futures

Orange-juice prices rose to the highest level in two years on expectations of a limited crop from Florida, the source of most of the oranges used in U.S. juice.

Frozen concentrated orange juice for May delivery rose 1.15 cents, or 0.7%, to end at $1.65 a pound, the highest since March 29, 2012, on the ICE Futures U.S. exchange.

The rally followed a report by the U.S. Department of Agriculture earlier this past week that lowered the estimate for Florida’s current crop to 110 million 90-pound boxes of oranges, down 12% from its initial estimate. That would be the smallest orange harvest in nearly three decades.

It was the fourth time since November that the USDA had cut its forecast for Florida oranges, highlighting the severity of an outbreak of citrus greening in the state. The bacterial disease has spread to every orange-growing county in Florida, stunting fruit growth and causing it to fall from trees prematurely.

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orange juice options

orange juice futures

Orange-juice futures may advance 4.6 percent in the next 30 days after forming a double bottom, according to technical analysis by Infinity Trading Corp.

The commodity touched $1.164 a pound on ICE Futures U.S. in New York on Oct. 22, the lowest since Jan. 30, forming the first of a double bottom. After two days of gains, prices resumed the decline, trading at $1.171 on Oct. 29, to form another bottom. Since then, futures gained in eight of the past nine sessions, and may rally further to $1.40, the highest since Sept. 16, according to Fain Shaffer, the president of Indianapolis-based Infinity.

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March 11th, 2013

Orange juice futures rose to an 11-week high on mounting concern that dry weather will curb output in Florida, the world’s second-biggest citrus grower. Cocoa and sugar also gained, while coffee and cotton declined.

Florida’s citrus belt will get drier-than-normal weather during the next two weeks, with the best chance for light rain expected tomorrow, Bethesda, Maryland-based Commodity Weather Group LLC said in a report today. Last week, the U.S. Department of Agriculture cut its estimate of orange production in Florida by 1.8 percent because of dry conditions and citrus greening, a crop disease.

“It is all about how much damage the dry weather will cause before the rainy season starts in June,” Fain Shaffer, the president of Infinity Trading Crop in Medford, Oregon, said in an e-mail.

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