From Quartz, June 3:
Fruit diseases and inclement weather conditions are impacting overall crop yield production
Juice makers may soon need to replace their orange juice options as the crop braces for a steep decline in production, according to Fundecitrus, a Brazilian research association formed by citrus growers and manufacturers.
According to the association, fruit diseases, machines, pests, and inclement weather along the citrus belt of Brazil’s São Paulo and Minas Gerais regions are causing a “physiological drop” in orange tree harvesting, prompting prices to skyrocket. Brazil is the leading orange producer and exporter globally.
Orange crop production in the region is projected to decline by nearly 25% between 2024-2025, the fund said. Last year’s crop season produced 307 million boxes, while this season is projected to drop to 233 million boxes....
....MUCH MORE
We don't do much with the softs here on the blog beyond getting crabby when breakfast prices go higher.
Here's the last three months of action in the futures via FinViz (also on blogroll at right):
