AgWeb reported this week that the costs of orange juice and coffee are both climbing due to extreme weather in Brazil. Drought conditions are driving up the costs of coffee beans in the coffee production areas while heavy rains in the citrus belt are hampering production of orange juice. Even the cost of sugar is going up due to frost in the sugar-producing areas, which has reduced yields. Some of the problems are being exacerbated by bad weather in other production regions around the globe. You can read more about it and the effects on futures markets here.
