Posted on 09/28/22
| News Source: NBC News
Hurricane Ian was set to produce significant damage to much of Florida's citrus crop as it tore through the central-southwest part of the state, threatening to send the price of orange juice higher.
November orange juice futures contracts were trading as high as $1.92 per pound Wednesday before falling back to $1.87.
Orange crops had already suffered production declines this year, with further declines expected, thanks to a so-called greening disease.
The storm will only add to those woes, said Jack Scoville, vice president at PRICE Futures Group, a trading firm in Chicago.