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Energy
Futures |
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Crude
Oil, Propane,
Natural
Gasoline,
Unleaded Gasoline, Heating
Oil/Diesel, Unleaded Gas,
Natural
Gas |
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Industrial
Metals Futures |
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Copper,
Aluminum,
Cadmium,
Chromium,
Cobalt,
Magnesium,
Manganese,
Mercury,
Nickel,
Zinc,
Tin,
Steel/Iron,
Lead
, Tungsten,
Titanium,
Vanadium,
Uranium,
Palladium
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Precious
Metals Futures |
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Gold,
Silver,
Platinum |
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Grains
Futures |
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Corn,
Canola,
Soybeans,
Soybean Meal, Sunflowerseed,
Soybean
Oil, Azuki
Beans, Palm
Oil, Wheat, Barley,
Oats,
Rice
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Meats
Futures |
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Live
Hogs, Live
Cattle, Pork
Bellies Feeder
cattle |
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Food/Fibre/Softs
Futures |
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Cocoa,
Coffee,
Milk,
Plastics,
Pepper,
Potatoes,
Paper,
Salt,
Sugar,
Silk,
Tobacco,
Tea,
Lumber,
Onions,
Wool,
Cotton,
Orange
Juice, Rubber |
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ORANGE JUICE FUTURES
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Hurricane Wilma
tore through southern Florida on October 24th with winds of
125 m.p.h. On December 9, 2005, the USDA reduced its estimate
of Florida's 2005-2006 orange crop from 190 to 162 million
boxes and also reduced the projected juice yield from 1.58
to 1.55 gallons per box at 42 degrees Brix. This is still
up from the previous year's 150 million boxes. Citrus canker
may be one of the growing concerns that Florida will face
this year. On October 5, 2005, the USDA announced that $200
million in disaster relief was going to citrus growers in
Florida to compensate for losses due to citrus canker. As
of November 30, there were 1.03 billion pounds of frozen orange
juice in U.S. cold storage, down 30% from a year
ago.
On April 11, 2005, the USDA estimated
Brazil's orange juice production in the July
2005-June 2006 marketing year at 1.14 million tons at 65 degrees
Brix, down 15% from the previous year. There are potential
problems on the horizon. Brazil has lost over two million
trees to sudden citrus disease and now orange farmers are
concerned about an outbreak of citrus greening disease. There
is no cure to this disease, it is fatal to the trees, and
it may have already spread throughout Brazil. In 2004, Brazil's
exports of frozen orange juice concentrate were down 4% from
the previous year. In the first eleven months of 2005, exports
were up 13% from a year ago.
Florida's all orange forecast,
at 162 million boxes (7.29 million tons), is down 15 percent
from the previous forecast but up 8 percent from the 2004-05
crop. Early, midseason, and navel varieties are forecast at
80.0 million boxes (3.60 million tons), 14 percent below the
previous forecast but 1 percent above last season's final
utilization. The Florida Valencia forecast is reduced by 15
million boxes to 82.0 million boxes (3.69 million tons), down
15 percent from the previous forecast but up 16 percent from
last season's final utilization. Early-midseason bearing tree
numbers are reduced from the number used to prepare the October
forecast by 1.4 percent, and Valencia tree numbers are reduced
by 2.4 percent. For both Valencia and early-midseason crops,
projected fruit sizes will be smaller than any of the previous
10 years, and fruit drop will be above average.
USDA Crop Production. December
9, 2005.
Unlike canker, which creates
unsightly lesions on fruit, the citrus greening disease is
deadly to crops. It already has infected and killed trees
in Southeast Asia and Africa and had started attacking crops
in Brazil, the world's largest producer of oranges, before
being detected in Florida in September.
The average productive life
span of trees in areas affected by citrus greening has dropped
from 50 or more years to 15 or less. There is no known cure
for the disease, which does not harm humans.
Adrian Sainz, Associated Press.
October 31, 2005.
Growers also were concerned
that Wilma may further spread citrus canker, a bacteria that
can weaken citrus plants. The disease almost was eradicated
last year, but 2004's hurricanes spread it to the heart of
the citrus-growing regions of Florida, forcing state agriculture
officials to remove or plan to remove 70,000 acres of citrus.
"We still think we can
stop the disease if we stay ahead of it and try to get those
trees on ground before they have a chance to spread,"
said Agriculture Commissioner Charlie Bronson.
Mike Schneider, Associated
Press. October 26, 2005. |
| |
| U.S.
Orange Juice Market Statistics |
| Year
ending
November 30, |
1998
|
1999
|
2000
|
2001
|
2002
|
2003
|
2004
|
2005
|
2006
|
| Florida
Orange
Crop (in mill. boxes) |
244
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186
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231
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223
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229
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203
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242
|
150
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162e
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| 2001-2002
Production Est.
| Mill
MTons 65deg
| %
of World
|
Brazil
| 1.27
| 51%
|
USA
| 1.0
| 40%
|
World
| 2.47
| 100%
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Food/Fiber/Softs
Futures is also spread to:
|Cocoa|Coffee|Milk|Pepper|Potatoes|Plastics|
Paper|Salt|Sugar|Silk|Tobacco|Tea|Lumber|
Onions|Wool|Cotton|Orange
Juice|Rubber| |
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