A gnat-sized insect, the Asian citrus psyllid, forced Dean Mixon to replace about 1,000 orange trees in the past two years on the 50-acre Florida farm his grandfather started in the 1930s. The bug spreads a disease called citrus greening, causing fruit to shrink and drop early.
Orange-juice futures are poised to rally as much as 42 percent in New York to the highest since February 2012, after topping a key resistance line, a technical analysis by Hackett Financial Advisors Inc. shows.
Orange-juice futures fell for the first time in three days on signs of reduced hurricane risk for crops in Florida, the world’s second-largest citrus grower. Coffee, sugar and cotton slid, while cocoa advanced.