Orange Is the New Red as 2019 Kicks Off With Juice Prices at Fresh Low
- Futures fell in ’18 for second year, touch 33-month low in ’19
- Juice falls out of favor as consumers cut down on sugar
Photographer: Angel Navarrete/Bloomberg
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In the 1983 comedy “Trading Places,” the characters played by Eddie Murphy and Dan Aykroyd celebrate their victory over the powerful Duke brothers in the futures pit for orange juice. In the real world of electronic trading, the commodity is causing headaches for bulls.
Orange juice in 2018 fell, partly because of shrinking U.S. demand, and the annual percentage change went to red for the second straight time. Crop-disease concerns dissipated in Florida, the top U.S. grower, after citrus greening in groves in previous years led to green on the futures screens.