It's not hard to believe that drought and frost have hurt both coffee trees and sugar cane. How much, I guess, is the main question. I have for many months now held call option in the orange juice market too. These I've rolled forward when necessary. I have thought that oranges grown in drought would be fewer per tree, perhaps smaller and contain less juice. But the market price does not agree with me, or, at least, not yet. Florida oranges are mostly squeezed for juice while California oranges are sold as whole fruit. We have been disappointed recently by "dry" (not juicy) whole oranges even though they looked fine in the store + fine until we sliced them up. I'm guessing these came from California, which has also been in a multi year drought. Can anyone comment on the moisture content of Brazilian oranges or add any information about the current orange crop?