Orange Juice Futures Explode 13% Higher for The Week with Florida Crop Smallest in 86 Years

Orange juice futures prices exploded higher this week, rising 13.48%. The move is in line with FLOJ being the best performing commodity in the first quarter of the year, they were up 30.8%. They are up 71% in the past year. The reason is supply, the U.S. Department of Agriculture estimates Florida production will fall to only 15.65 million boxes of oranges this season. In the 2021-2022 season Florida growers produced fill 41.2 million boxes. For perspective twenty years ago, … Continue reading “Orange Juice Futures Explode 13% Higher for The Week with Florida Crop Smallest in 86 Years”

BHP Huge Profit and Record Dividend But Warns on Higher Costs And Global Uncertainty

Australian mining giant BHP Billiton’s June quarter earnings saw huge leaps in revenue but lagged behind forecasts. $BLT announced a record dividend however cautioned on higher cost pressures and macroeconomic uncertainties.

BHP Higher Copper Production Offsets Lower Iron Ore Output

Australian mining giant BHP Billiton posted quarterly production guidance with higher copper output helping offset lower iron ore volumes out of the Pilbara and lower petroleum production from Hurricane Harvey. $BHP has maintained full-year production guidance for all its commodities despite softer quarterly numbers. 

Lumber Futures in Perfect Storm Continue to Soar After Hurricane Harvey & Irma

Lumber futures are at 12 year highs after Hurricane Harvey and Irma. Prices have been rallying since the housing crash of 2008 and earlier this year the U.S. administration imposed tariffs on plywood coming from China and lumber coming from Canada. Wildfires across Canada and the western U.S. also pushed prices higher pre hurricanes.