Early Start to Tropical Storm Season Causes Spike in OJ Futures
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Agricultural ETF, Market Vectors Agribusiness ETF (NYSE: MOO), is up today in part due to a spike in the price of orange juice futures. The move in orange juice is being tied to early tropical activity in the Atlantic Ocean.
Tropical storm Alberto, which churned off the coast of South Carolina over the weekend, was the earliest-forming Atlantic storm since 2003, according to the National Hurricane Center. While Alberto is not expected to be a threat, the early start to the season is making markets jittery, according to reports.
Another ETF making moves on the news is UBS E-TRACS CMCI Food TR ETN (NYSE: FUD).
Tropical storm Alberto, which churned off the coast of South Carolina over the weekend, was the earliest-forming Atlantic storm since 2003, according to the National Hurricane Center. While Alberto is not expected to be a threat, the early start to the season is making markets jittery, according to reports.
Another ETF making moves on the news is UBS E-TRACS CMCI Food TR ETN (NYSE: FUD).
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