After a disease-spreading bug wreaked havoc on Florida citrus groves this year, growers like Maury Boyd are seeing a new threat from the weatherman that would mean “pure hell” for orange-juice supplies.
Arabica coffee prices may be set for a “straight up vertical spike” to a record $4 a pound by the end of the first quarter with daily gains of 50 cents a pound after climbing to a 13-year high last week, researcher Shawn Hackett said.
Orange-juice futures rose to a two- year high after the U.S. Department of Agriculture said that the crop in Florida, the world’s second-largest grower, will shrink to the lowest since 1985 amid crop disease.
Orange-juice futures that are the cheapest for this time of the year since 2004 may rise as much as 15 percent after forming a descending wedge pattern, a technical analysis by Hackett Financial Advisors Inc. shows.
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.
Milk futures are an “amazing buying opportunity” because they are the cheapest in 15 months relative to the price of corn, the main ingredient used in feed for dairy cows, according to Hackett Financial Advisers Inc.