The floor will want to lock in that price because they think the report will cause the price to go even higher.Â. They were buying all the way up, but the prices in the end collapsed. Read honest and unbiased product reviews from our users. frozen orange juice, Trading Places quotes. Orange Juice increased 33.95 USd/Lbs or 35.79% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Earlier in the film,  Mortimer and Randolph Duke, the two corrupt, septuagenarian brothers who run a commodities brokerage house, arrange to get an advanced copy of the USDA’s monthly orange crop report. ... reconstituted liquid juice and not-from-concentrate (NFC) juice. And Winthopre and Billy Ray are the ones who’ve made out like bandits: (h/t TradingPitBlog, WiseBread StraightDope, and DangerousLogic for guidance). He's been instructed to buy Frozen Concentrated Orange Juice futures non-stop until the crop report comes out. (In fact, the real crop report showed that the freeze wasn’t that bad), Not knowing the real crop data, the Dukes plan is to book as many orders for high bids as possible — “corner the market” (which in real life, thanks to new regulations, is now either illegal or extremely difficult to pull off).Â. Keywords: Frozen concentrate orange juice, Rheological properties and Tixotropy. Trading Places (1983) 00:10:26 We're about to make millions of dollars in frozen orange juice. They were buying all the way up, but the prices in the end collapsed. And Winthorpe and Billy Ray are the ones who've made out like bandits: (h/t TradingPitBlog, WiseBread StraightDope, and DangerousLogic for guidance). This is a slushy punch that is frozen ahead of time. now either illegal or extremely difficult to pull off. Now everyone has to sell! Now 30 years after Trading places, it looks like the hype surrounding Orange Juice is fastly fading, with only 20,000 outstanding contracts. There are plenty of oranges out there, and the price is going to come way down. It does not matter how or where the seller gets the product, as long as, one way or another, he is able to provid… But we wanted to zero in on what is arguably the most complicated, real-life climax in cinematic history, because a lot of people get confused about what actually happened. Finally, they must also not take the post-report sell orders from the Dukes, to maximally screw them over. ComfortablyNumb Posts: 1,215. The contract prices physical delivery of U.S. Grade A juice (with grading performed by the U.S. Department of Agriculture), in storage in exchange licensed warehouse in several U.S. delivery points. This would make a great gift for yourself, or your mother, or your wife! We wanted to zero in on what is arguably the most arcane, real-life climax in cinematic history: the Trading Places orange juice futures scam. Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram. The harsh winter did NOT hurt the crop. Here's their floor broker, Wilson, set to pull off what he thinks is a foolproof moneymaking trade. Assume it is January and frozen concentrated orange juice is currently trading at 135 cents/pound (the spot price).An orange farmer expects his crop (1 … Frozen Concentrate Orange Juice Production Unwholesome fruit is removed during unloading before the oranges are conveyed to storage bins. These crop reports are real, and you can find a calendar of them here. But since they know the crop report will show no hard freeze, implying bountiful oranges and lower prices, they stand to make a fortune once the true price is revealed. Subscriber There are plenty of oranges out there. Keeping a can of frozen orange juice concentrate in the freezer means you can make more than just orange juice. If it really doesn't then I too want some of that Frozen stuff. There’s no shortage at all. The Dukes hope to discover that the crop report will reveal extensive damage to the Florida orange juice crop — due to a hard freeze — and thus they could make a fortune buying a ton of orange juice futures right before that data comes out, on the premise that the freeze would cause a shortage of oranges. The stories dominating banking, business, and big deals. Find the exact moment in a TV show, movie, or music video you want to share. By 1949, orange juice processing plants in Florida were producing over 10 … Sign up for Insider Finance. easy choice by picture (timecode) or full clip is possible. Frozen Orange Juice quotes › Trading Places. Commodity futures prices / quotes and market snapshots that are updated continuously during trading hours. Supplier of Frozen Orange Juice Concentrate, Fruit Juice & Orange Juice Concentrate offered by Enter-trading Gmbh from Wegberg, , Germany. The harsh winter did NOT hurt the crop. View profile, contact info, product catalog credit report of Enter-trading … Unlike conventional stock, futures contracts can be sold even when the seller does not yet own any of the commodity. He’s been instructed to buy Frozen Concentrated Orange Juice futures non-stop until the crop report comes out. Introduction Concentrated orange juice is one of the most important commodities over the world and Brazil is the major producer. since. 0. The UK is the fourth-largest orange juice importer in the world and buys most of it in frozen concentrate form from Brazil. Easily move … Orange juice concentrate is often frozen and later made into orange juice by adding water to the mixture. Eventually, Winthorpe decides the time is right, and calls out that they are selling contracts for ¢142. It seem like just yesterday Eddie Murphy and Dan Aykroyd were in the old Comex pits making millions off of Frozen Orange Juice Concentrate. So what's the reason? If you’ve just watched Trading Places and want to have a flutter trading frozen concentrated orange juice you need a futures broker like Saxo.You need big pockets and nerves of steel to trade on exchange futures, but if you are a normal private client you can trade OJ through a CFD or spread betting broker here are a selection of some of the best options out there: Juice destined to be frozen concentrate goes to an evaporation chamber, where heat removes the water; the concentrate is then frozen. FROZEN CONCENTRATED ORANGE JUICE CONTRACT The ICE Futures U.S. FCOJ futures contract is for the physical delivery of USDA frozen concentrate, not less than 62.5° Brix, to an exchange-licensed warehouse in Florida, New Jersey or Delaware. as well as other partner offers and accept our, now either illegal or extremely difficult to pull off. Winthorpe and Billy Ray now wait again for the price to come back down, to max out the spread between what the floor bought the contracts for initially, and the price at which they can buy the orders back. Winthorpe and Billy Ray now wait again for the price to come back down, to max out the spread between what everyone they sold the contracts for initially, and the price at which they can buy the orders back: Finally, they must also not take the post-report sell orders from the Dukes, to maximally screw them over.Â. (affiliate link): https://amzn.to/32O3oTc I use mine for Milkshakes, Gravy, and Crock … Not knowing the real crop data, the Dukes plan is to book as many orders for high bids as possible — "corner the market" (which in real life, thanks to new regulations, is now either illegal or extremely difficult to pull off). The short answer: yes. The floor needs to think they can make even more money on a bullish report by trading with the guys selling at lower prices. If the price were to actually rise, they'd owe the floor tons of money. Were the price to go up, Winthorpe and Billy Ray would be screwed, as they’d have to buy back the contracts they sold (shorting anything requires a later purchase) at a higher price. Traders don’t pull up with carts full of little metal cans. But Billy Ray Valentine (Eddie Murphy) and Louis Winthorpe III (Dan Aykroyd) — who has lost his job at the brokerage — catch wind of the scheme, and deliver a fake report to the Dukes. Contract specifications including fees, margins and delivery standards Orange Juice Trading History. OJK21 | View the latest Frozen Concentrate Orange Juice May 2021 Contracts and compare Futures prices with WSJ. Florida has been known for its orange and other citrus production for many years, but it took a processing innovation in Florida in 1947 to make frozen concentrated orange juice a commodity on which a futures contract could be based. Last week, we celebrated the 30th anniversary of Trading Places, the greatest movie about finance ever made, with an oral history of the film. I can only assume that the Frozen concentrate orange juice tastes different from the Made from Concentrate stuff available in shops. The growth pace was the most rapid in 2011 an increase of 28% year-to-year. 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