Orange juice futures near all time high
Looks like we'll have to stick to beer for breakfast.
Orange juice futures are up nearly 5% today in the eighth consecutive day of gains. This looks like it will be an all-time closing high and we're now just 1.45% from the all-time intraday high, set in January 2012.
Now, I enjoy the occasional glass of orange juice but I'm no expert.
Maybe it's because Florida could descend into the chaos of another Bush/Gore pit of despair.
Could this have something to do with Trump threatening to clamp down on immigrants (many who are picking fruit) and/or cutting down on trade with Mexico? Doubtful. But it makes for a great story.
I'm guessing it's probably weather.