Orange juice futures are adding to their record 2020 performance on the speculation that another coronavirus-induced lockdown will be bullish for the agricultural commodity. It is also expected that orange juice demand will strengthen over the next several months as consumers attempt to boost their immune system with the citrus beverage. Could prices test $1.30 by the year’s end?

January orange juice futures picked up $0.012, or 0.95%, to $1.2695 per pound at 17:22 GMT on Tuesday on the US ICE Futures exchange. Orange juice prices have been on a tear throughout most of 2020, advancing close to 30% year-to-date. The classic breakfast staple is already on track for a double-digit weekly gain.

At the start of the coronavirus pandemic, consumers reignited their love for orange juice, hoping to protect themselves from the highly infectious respiratory illness with vitamin C injections. With supplies being more subdued in the last couple of years because of cratering North American demand, prices skyrocketed on the changing shopping trends.

Plus, with breakfast becoming great again due to more families staying home, consumption of the beverage intensified.

Is this the long-term trend or a blip on the radar? With many European countries instituting another round of restrictions and President-Elect Joe Biden could be potentially considering another nationwide lockdown to contain the COVID-19 outbreak, a lockdown 2.0 could happen in major economies. This, if the first wave was any indication, might be repeated over the coming months.

A slumping US dollar and Brazilian real could also boost foreign demand for orange juice. The US and Brazil are the world’s largest producers of oranges, so weakening currencies could make the agricultural commodity cheaper. The US Dollar Index, which measures the greenback against a basket of currencies fell 0.24% to 92.42, from an opening of 92.64. The index has plunged more than 4% year-to-date.

In other agricultural commodities, December corn futures added $0.04, or 0.96%, to $4.2025 per pound. December wheat futures shed $0.0275, or 0.46%, to $5.9525 a bushel. January soybean futures surged $0.1675, or 1.45%, to $11.7025 per bushel.