Frozen concentrated orange juice futures rose sharply on Wednesday, fueled by worries about citrus greening and unfavorable weather patterns affecting orange groves. The July contract climbed 3.3 cents to $1.6745 per pound on ICE Futures U.S.

Factors Influencing the Price Increase

• Citrus Greening: The spread of citrus greening disease continues to threaten orange production in Florida and other regions.
• Adverse Weather: Unpredictable weather patterns, including frosts and droughts, have further impacted crop yields.
• Supply Concerns: The combination of disease and weather-related issues has raised concerns about potential supply shortages.

Market Outlook

Analysts suggest that the upward trend in orange juice futures may persist in the short term, contingent on weather conditions and the progression of citrus greening. Market participants are closely monitoring crop reports and weather forecasts for further insights into the supply outlook.