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Hurricane season threatens orange juice futures

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July 3rd, 2018

FCOJ was a little lower as Florida weather remains good and demand prospects do not. The hurricane season has started. There are no storms or areas of interest yet in the Atlantic, but something could be forming that might come close to the state this week. Traders are worried about demand and are noting improved production prospects for Florida. The tariff wars between the U.S. and Canada, Mexico, and the EU are hurting export demand ideas. The EU imports a lot of FCOJ and these exports could be hurt by any retaliation made by Europe. The EU has indicated that FCOJ will be on the list of items subject to increased tariffs and that the measures will be enacted next month.
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The growing conditions in Florida should continue to improve as the rainy season appears to be underway. The market is still dealing with a short crop against weak demand. Demand is bad enough that year on year inventories are increasing even with the very bad production last year. Florida producers are seeing golf ball sized or larger fruit. Conditions are reported as generally good. Brazil could use more rain as Sao Paulo has been hot and dry. Generally good conditions are reported in Europe and northern Africa.

 - Born2invest.

See Also: Coffee, Cocoa, Cotton, Orange Juice, Sugar
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