Orange Juice Futures Surge Towards $5/lb Mark -- Market Talk

Dow Jones09-10

1151 ET - Orange juice futures trading on the ICE are up 1.4%, closing in on crossing the $5 a pound mark for the second time in its history--the first being on Aug. 23, when the contract set a record close of $5.06 a pound, according to FactSet data. Rising futures come as an active hurricane season heats up, and Tropical Storm Francine moves up the Gulf. The storm is expected to strengthen before hitting Louisiana, according to data from the National Hurricane Center. Two other storms are also forming out in the Atlantic. New hurricane damage to Florida's orange groves would be devastating for an industry attempting to bounce back from Hurricane Ian and a prolonged fight with citrus greening disease. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

September 10, 2024 11:51 ET (15:51 GMT)

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Two other storms are also forming out in the Atlantic. New hurricane damage to Florida's orange groves would be devastating for an industry attempting to bounce back from Hurricane Ian and a prolonged fight with citrus greening disease. 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