Place corn husks in a bowl, cover with boiling water, and soak for 30 to 60 minutes. Drain, place on a work surface, and cover with a clean, damp towel.

Combine oranges and 1 1/4 cups sugar in a saucepan over low heat. Cook, stirring occasionally, until mixture starts to turn into jam, about 30 minutes. Remove from heat and let cool completely.

Place lard in a large bowl, add 2 or 3 ice cubes, and beat with an electric mixer until soft and creamy. Beat in 1 1/4 cups sugar until well incorporated.

Combine masa dough and baking powder in a separate bowl. Knead together for a few minutes. Add masa to lard mixture. Mix in milk alternately with orange juice, beating continuously with the electric mixer. Mix in cooled jam, raisins, and almonds.

Select 1 wide corn husk or 2 small ones. Spread about 2 tablespoons masa mixture onto the corn husk, filling it up to 2 inches from the bottom and 1/4 inch from the top. Fold sides of husk together, one over the other. Fold the bottom of the husk over the seam of the 2 folded sides. Repeat with remaining husks.