Delphic Oracle
Philosopher
- Joined
- Sep 17, 2016
- Messages
- 6,416
Is it too late to buy orange juice futures? Irma seems to be going right up through central Florida, which is where I believe the orange groves are, and I doubt orange trees are as resistant to wind damage as the palms that are shown bending with the wind. With tropical storm force winds covering the entire state, and hurricane force winds in much of the center, I would have to believe there will be a lot of damage.
But.....they do grow the things in Florida. They have to be at least somewhat resilient. It's not like hurricanes haven't gone through before. They just don't normally cover the entire state.
ETA: Yes, OJ futures have spiked, although only 10% or so, but that is apparently very large.
https://slate.com/business/2017/09/...-irma-damage-frozen-orange-juice-futures.html
"Well, this is it. The last bastion of pure capitalism left on Earth. Here in New York, they trade everything: gold, silver, platinum, heating oil, propane, cocoa & sugar, and -of course- Frozen Concentrated Orange Juice."