The most current report from the USDA shows a large improvement over last year’s hurricane damaged crop. Their forecast calls for a total of 77 million boxes, 45 million of Valencia and 32 million of early Midseason and Navel. Prices for terpenes continue to soften.
On April 10TH the U.S. Department of Agriculture forecasted a total of 45 million boxes to be produced in Florida split between Midseason and Navel (19 million) and Valencia (26 million). This is compared to 69 million boxes from the 2017 crop. Early reports from Brazil also indicate a smaller crop than in 2017, but... Read more »