The orange juice futures trade is stuck in the biggest rut it’s seen since way back in 1967. The futures closed lower for a record 15th-straight day last Wednesday, with no end in sight. Domestic demand for orange juice has been shrinking for several years. On top of that, add in a declining citrus crop in Florida, the nation’s number-one …
Cotton and Orange Juice Futures See Bounce Amidst Hurricanes
Bloomberg News reports orange juice futures jumped 6.2 percent before Wednesday, the largest increase in 16 months, ahead of the feared landfall of Hurricane Irma in Florida. The scale-topping hurricane remains on track to threaten Southeast U.S. agriculture later this week. Florida is the nation’s top orange producer, and all of the state’s crop is at risk of moderate to …