Orange juice prices exploded toward week’s end as meteorologists predicted a major hit to Florida’s citrus growing region. The strong winds and saturated soil can cause long-term damage to orange trees and cut yields dramatically.
On Wednesday, Governor DeSantis declared a state of emergency for 26 counties in the projected path of Hurricane Dorian. One economist estimated the loss in crop damage could be $18 to $20 billion. Peanuts in Georgia are another crop which could be terribly impacted by heavy flooding.
Frozen O.J. for November delivery shot up from 98 cents per pound to $1.10 at Friday’s peak.