Wall Streeters are just evil. So much so that they apparently hope we continue to "freeze" to "death" here in Florida, and they're betting on orange juice futures, pushing prices to a two-year high.
Florida produces more oranges than anywhere else in the world except for Brazil, and if the cold damages enough plants it could push the price of orange juice up, and they'd make money.
Luckily for us and our beloved oranges, that may not happen. About 20 percent of the state's crop would have to be ruined for prices to rise, and plants are only threatened when temperatures drop below 28 degrees for four hours or more. Last night, only about 1 percent of the state's crops were affected, and even in the worst case scenario brought on by weather forecasters, only about 5 to 10 percent of the crop could be affected.
Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.