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Orange Juice Prices Hit A 3 Week High

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Orange Juice Futures---Orange juice futures in the November contract settled higher by 55 points at 117.90 and now it has traded higher 10 out of the last 12 trading sessions as prices are right near a 3 week high.

Juice prices are now trading above their 20-day but still below their 100 day moving average which stands around the 121.25 level as we enter the highly volatile winter season soon as that could put a wrench into the closet with a possible frost hurting growing trees in the State of Florida therefor crushing production numbers and pushing prices sharply higher as that situation has happened on multiple occasions in the past.

I will not recommend a short position as I think the downside is very limited as prices on September 25th hit a contract low of 105.30 as I think that will hold, however I will wait for the chart structure to improve as we could be involved in a bullish position in coming weeks ahead.

The volatility in orange juice historically speaking can become very violent during the winter months while at the current time I believe traders are putting a frost premium into the price as historically speaking we're still extremely cheap as I think there could be significant room to the upside.




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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