Florida 2022/23 oranges seen down 32% YOY; OJ futures trade sideways

In its October Citrus report, USDA forecasted all Florida orange production down 32 percent YOY at 28.0 million boxes. The steep drop is part of the longstanding downtrend for the state’s production, further pressured by late September’s Hurricane Ian. Production of Valencias is expected [...]

FCOJ futures rally on anticipated tight Brazilian stocks

In a four-session rally that began last Friday, most active Nov-22 FCOJ jumped from resistance near 163.35 cents per pound solids to a settle Wednesday at 185.35 cents, breaking past the previous August high and the upper Bollinger Band. The contract gave back some [...]

FCOJ futures hit three-month high

On Tuesday, Jan. 4, most-active Mar-22 FCOJ futures settled about 10 cents above the 20-day average at 144.0, the highest close since Sep. 21. In the two days since, the contract has seen a slight correction lower. Higher FCOJ demand is tied to the [...]

Orange production estimates unchanged in May

In its May citrus report, USDA made no changes to estimated domestic orange production. Florida early-midseason orange production in 2020/21 is seen at 22.7 million 90-lb boxes, California at 42.0 million 80-lb boxes, and Texas at 1.0 million 85-lb boxes. For Valencia oranges, 2020/21 [...]

Spot FCOJ futures drop to four-month low

On Tuesday, Feb. 2, most-active Mar-21 FCOJ futures settled at 106.85, the lowest spot pricing settle since September and the lowest settle for the March contract in over ten months. Tuesday’s settle was 0.17 cents below the lower Bollinger Band, indicating the contract is [...]

FCOJ market sees seasonal runup?

May-19 FCOJ futures have turned higher: Last week, the contract gained over 7 cents Monday and Tuesday during active trade. After a short pause last Wednesday, the market has continued to climb in the four trading days since, settling near a three-month high yesterday. [...]

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