Orange juice prices hit all-time high amid bleak production outlook
© Reuters. FILE PHOTO: A worker collects oranges harvested at a farm in El Nobaria, northeast of Cairo, Egypt December 23, 2020. Picture taken December 23, 2020. REUTERS/Mohamed Abd El Ghany/File Photo
"OJ is very thinly traded. Not extremely hard to move the market like it is with corn or soybeans," said Darin Fessler, SVP, Market Strategist at Lakefront Futures & Options. Beyond the speculative game, however, fundamentals are extremely positive, with negative weather and a bacterial disease called greening having reduced production in the three main growers Mexico, U.S. and Brazil. Florida's production has also been hit by hurricanes in recent years.
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