Hurricane Ian is poised to become one of the most expensive hurricanes in U.S. history.
According to Chuck Watson, a disaster modeler and director of research and development at Enki Research, the economic losses and damages in Florida could total between $45 billion and $70 billion. This would rank as the sixth most expensive hurricane on record.
In the coming weeks, Florida and the broader national economy might have to experience a wide range of other financial consequences.
One of these could be the destruction of crops and fertilizer-manufacturing regions. The futures market is already responding, with the November frozen concentrate orange juice futures surging by more than 5 percent to $1.9225 per pound on the U.S. ICE Futures exchange on Sept. 28….