{"id":125226,"date":"2018-04-16T09:49:20","date_gmt":"2018-04-16T13:49:20","guid":{"rendered":"http:\/\/countingpips.com\/?p=125226"},"modified":"2018-06-01T15:40:52","modified_gmt":"2018-06-01T15:40:52","slug":"orange-technical-analysis-a-reduction-in-orange-crop-is-expected-in-florida","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/orange-technical-analysis-a-reduction-in-orange-crop-is-expected-in-florida\/","title":{"rendered":"ORANGE: Technical Analysis – A reduction in orange crop is expected in Florida"},"content":{"rendered":"
April 16, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

A reduction in orange crop is expected in Florida<\/strong><\/p>\n

The US Department of Agriculture (USDA) forecasts a reduction in orange crop in Florida by 35% in the 2017\/18 season compared to the previous season to 45 million boxes (40.8 kg). Will orange juice prices<\/a> rise?<\/p><\/blockquote>\n

Orange crop in Florida is expected to be the lowest in the last 75 years \u2013 since 1942. The negative effects of hurricanes and citrus greening disease were the main reasons for this. Note that before the hurricane Irma began, the crop forecast in Florida was 75 million boxes. Expectations of higher orange crop in Brazil may prevent the growth of orange juice prices. According to the forecast of Fundecitrus, in the 2017\/18 season, it may amount to 398.3 million boxes, which is 62% more than in the 2016\/17 season and a quarter more than the average orange crop in the country over the past 10 years. Currently, it is difficult to say which forecast will have a major impact on price dynamics. Theoretically, the demand for orange juice increases in summer.<\/p>\n

\"Orange\"<\/p>\n

On the daily timeframe, Orange: D1<\/b> bounced off from the support line of the uptrend. The further price increase is possible in case of a reduction in the world crop, with high demand in summer.<\/p>\n