Eoin Treacy's view

There was a bear raid on orange juice today. In early trading, the price was as high as 150¢ before collapsing in a matter of minutes to 135¢. That is despite the fact Hurricane Irma remains on track to hit Florida some time over the weekend or early next week, and is likely to have an unpredictable effect on the orange crop. I increased my position in the November contract paying 138.05¢ on the belief that this is likely to have been an algo-initiated event and will quickly be reversed. My gut tells me this is a risky strategy so I’ll be monitoring it closely, while hoping to avoid falling into a screen watching trance.