bullish
Traders Remain Neutral Commodities // Copper Loses as China Falls Apart
SUMMARY
- Orange juice futures hit an all-time high last week as citrus crops all across the US have been hammered by a series of hurricanes and the spread of citrus greening, an incurable disease spread by insects.
- The vast majority of oranges produced in the US come from Florida, which has been hobbled by hurricanes and a cold snap, massively hampering supply.
- Such headwinds are responsible for the supply shortage in oranges, which has driven up prices that will eventually filter through to consumers.
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