University of Georgia
Prices (old crop March 2024 futures) have finally broken to the upside and now stand within the previous 83 to 89 cents range we had for months prior to the most recent setback to mostly 74 to 82 cents. But, that old 83 to 89 cents range will now become a barrier. That’s the way markets work, and it may be a tough nut to crack. Note, for example, that price was down sharply on Jan. 26.