In the news: OJ futures

The Wall Street Journal published a short news brief by Leslie Josephs and Alexandra Wexler on orange juices futures stating, “Orange-juice prices rallied Monday on renewed concerns over supplies.”

The article reports orange juice prices dropped last week to the lowest in more than six months as a result of weaker demand and a quiet Atlantic hurricane season. It also states that orange juice supplies are “shrinking” as “The U.S. Department of Agriculture expects Florida, the top source of U.S. orange juice, to reap its smallest harvest in 29 years after an outbreak of citrus greening, a disease that has stunted fruit development. The USDA expects Florida growers to have harvested 104.4 million 90-pound boxes this year.”