Prices climbed about 9% to hit a three-month high this week as traders feared the storm would squeeze supply.
Orange juice futures hit a 12-week high of $1.06 per pound on Friday, as Hurricane Dorian threatened to ravage Florida's orange groves this Labor Day weekend. The commodity's price has jumped 9% this week as traders brace for the storm. Florida's orange industry was hammered by Hurricane Irma two years ago, which slashed production to its lowest levels since 1945, according to Bloomberg. Watch orange juice trade live. Orange juice futures hit a 12-week high of $1.
Orange juice futures hit a 12-week high of $1.06 per pound on Friday, as Hurricane Dorian threatened to ravage Florida's orange groves this Labor Day weekend. The commodity's price has jumped 9% this week as traders brace for the storm. Florida's orange industry was hammered by Hurricane Irma two years ago, which slashed production to its lowest levels since 1945, according to Bloomberg. Watch orange juice trade live. Orange juice futures hit a 12-week high of $1.
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