Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Dave Reiter"


3 mentions found


Futures contracts on orange juice , cocoa , coffee and sugar have soared in part because of extreme weather and supply concerns related to El Niño. "You can say El Niño has a sweet tooth because it sort of eats or takes away much of the sugar in the world," Carlos Mera, head of agri commodities market research at Netherlands-based Rabobank, told CNBC. "Sugar prices have probably already been passed on [to consumers] but certainly for chocolate we should expect a big increase at retail level — and El Niño is certainly something to watch." Joe Raedle | Getty Images News | Getty ImagesThe effects of El Niño tend to peak during December, but the impact typically takes time to spread across the globe. It also warned that several crops could be adversely affected by El Niño early next year, while acknowledging there is the potential for some crops to benefit, citing those in the United States, southern Brazil and Argentina.
Persons: El, Carlos Mera, El Niño, Joe Raedle, Dave Reiter, Reiter, Sia Kambou Organizations: Future Publishing, Rabobank, CNBC, Getty, Reiter Capital Investments, Twitter, Workers, Afp Locations: Yichang City, China's Hubei, Netherlands, El, Orange, Miami , Florida, Southeast Asia, India, Australia, Africa, United States, Brazil, Argentina, Florida, Hermankono
Cocoa and orange juice futures have hit multi-decade highs as climate change and harsh weather takes their toll on crops in warmer climates. Here’s the latest in the commodities market:Orange juiceOrange juice futures have soared to their highest levels since the commodity began trading in 1966. The January contract for frozen concentrated orange juice is currently sitting around $3.95, up nearly 94% so far this year. The rally has led to a rise in speculative betting, leading some analysts to call orange juice futures the new GameStop. But “the eventual crash in the price of orange juice will be one for the record books,” he quipped.
Persons: Nicole, it’s, they’re, , Dave Reiter, It’s, Brent, David Morrison, stoking, That’s, WeWork, Nathaniel Meyersohn, Ermengarde Jabir, Alicia Wallace, , Ted Rossman Organizations: CNN Business, Bell, New York CNN, OJ, Sunshine State, Futures, GameStop, Reiter Capital Investments, Cocoa, West Texas Intermediate, “ Traders, Trade Nation . Energy, Wheat, Organisation for Economic Co, Federal Reserve Bank of New, New York Fed Locations: New York, Ukraine, Orange, US, Brazil, Mexico, Florida, Ghana, Ivory Coast, Ivory, Chicago, Southeast Asia, Europe, China, Russia, America, United States
The January contract of frozen concentrated orange juice (FCOJ) on the Intercontinental Exchange (ICE) hit an all-time high of $4.17 per pound during the session, before falling back to $3.83 per pound. Did anyone predict $4.00 orange juice? As a comparison, the most traded contract among the soft commodities, ICE's raw sugar, had over 435,000 lots in open interest. Ibiapaba Netto, executive director at CitrusBR, the association representing Brazilian juice producers, said that a reversal of the current tight supply situation would take time, and is not certain to happen. Brazil has a 75% share of the global orange juice trade.
Persons: Mohamed Abd El Ghany, Dave Reiter, OJ, Darin Fessler, Ibiapaba Netto, Netto, greening, Marcelo Teixeira, Nick Zieminski Organizations: REUTERS, Intercontinental Exchange, Reiter Capital Investments, CitrusBR, Thomson Locations: El Nobaria, Cairo, Egypt, New York, United States, Brazil, Mexico, U.S
Total: 3