Orange Juice Lower 11th Day In A Row

20 Dec in Blog, coffee futures, commodity trading, cotton futures, futures trading, lumber futures, Mike Seery, orange juice futures, seeryfutures, sugar futures

Orange Juice Futures--- Orange juice futures in the January contract is trading lower for the 11th straight session which is remarkable in my opinion as I have been bearish this commodity over the last several weeks thinking that we could possibly hit the 135 level as we are now trading at 138.20 down another 260 points, however if you are short a futures contract I would take some profits off of the table as we are experiencing extremely oversold conditions at the present time.

The problem with orange juice is not the size of the crop coming out of the state of Florida which is relatively small, but there is very little demand as there are many other varieties of juice to choose from as that's the main culprit for lower prices plus the fact that we are having ideal weather conditions in Brazil and in Florida.

Orange juice prices are trading far below their 20 and 100 day moving average as clearly the trend is lower as we look to retest the contract low around the 129 level which was hit in July as this market has completely fallen out of bed, but there is no reason to get too greedy as taking something off the table I think is a wise decision at this time.






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