About The Author

Jack Scoville

Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322

Visit Website →

Softs Report 11/12/2025

By On November 12, 2025 - 9:28 AM · In Market Commentaries, Morning Grains & Softs Report
COTTON
General Comments:   Cotton was a little lower yesterday in quiet trading.  There was not much in the way of news to push prices in either direction.  A lack of new Chinese demand since the event of the lower tariffs created some selling interest. US tariffs are now being decided by the Supreme Court.  An end to the tariff wars could start demand for US Cotton in world markets again.  There are no more USDA reports coming due to the closure so no demand news is heard.  The WASDE and production reports are expected to be released on time this week, however, with little change expected in production or ending stocks.  The US harvest is starting to finish in most areas and initial yield reports are positive.  There are still ideas that harvesting conditions are generally good.  The monsoon in India is good and a good production there is possible.
Overnight News:
Chart Trends:  Trends in Cotton are mixed.  Support is at 63.70, 62.70, and 62.10 December, with resistance of 66.30, 67.00 and 67.80 December.
FCOJ
General Comments:  Futures were lower yesterday and the trends are turning mixed on the daily reports.  A deal was reached in the Senate to allow the government to reopen, perhaps as soon as this week.  The weather is considered good for production here and in Brazil and Mexico.  Development conditions are good in Florida and in Brazil now with occasional showers in Florida and dry weather in Brazil.
Overnight News:  ICE said that 0 notices were posted for delivery against November futures and that total deliveries for the month are now 100 contracts.
Chart Trends:  Trends in FCOJ are mixed to down.  Support is at 170.00, 164.00, and 158.00 January, with resistance at 224.00, 237.00, and 247.00 January.
COFFEE
General Comments:  New York was higher and London was lower yesterday on weather concerns.  It has been a little too dry in Brazil for best yield potential.  Vietnam has seen too much rain as typhoons hit the country, but rain is returning to more normal levels now.  Activity remained quiet in Vietnam on limited supplies as offers of fresh beans from the current harvest have yet to pick up.  Vietnam exported 1.31 million metric tons of coffee over the January-October period, up 13.4% from a year earlier.  A revision of the 50% U.S. tariff on Brazilian imports, including coffee, could push arabica prices lower.  Brazil exported 233,094 metric tons of green coffee in October, down from 279,233 tons a year ago.
Overnight News: The ICO average price is 343.92 ct/lb.
Chart Trends: Trends in New York are mixed.  Support is at 371.00, 360.00, and 350.00 December, and resistance is at 424.00, 430.00 and 436.00 December.  Trends in London are mixed to up.  Support is at 4370, 4200, and 4000 January, with resistance at 4790, 4830, and 4850 January.
SUGAR
General Comments:  New York and London were higher again yesterday.  Ideas of good supplies for the market from good growing conditions for cane and beets around the world continue.  Production in Center-South Brazil has also been strong, but the south center harvest is almost over.  Too much rain has been reported in northern areas.  The prospect of a big global surplus in the 2025/26 season was keeping the market on the defensive with a rise in production in India and Thailand set to increased supplies while global consumption is expected to remain steady.  India plans to allow sugar exports of 1.5 million metric tons in the new season as a decline in the diversion of sugar for ethanol production is expected to leave a larger domestic surplus.  China kept its 2025/26 sugar imports forecast unchanged at 5 million tons.
Overnight News:
Chart Trends: Trends in New York are down.  Support is at 1400, 1370, and 1340 March and resistance is at 1520, 1540, and 1610 March.  Trends in London are mixed to down.  Support is at 399.00, 393.00, and 387.00 March, with resistance at 415.00, 429.00, and 437.00 March.
COCOA
General Comments:  New York and London closed lower yesterday and trends remain mixed to down.  A big main crop harvest is anticipated in West Africa.  Demand concerns in West Africa continue.  Bigger supplies are expected at West Africa ports soon as Ivory Coast has raised the farmgate price paid to farmers and they are expected to sell.  Ghana has also raised farmgate prices.  Light rains mixed with heat in Ivory Coast’s cocoa-growing regions last week signaled a positive outlook for the October-to-March main crop, farmers said on Monday.  There are still reports of increased production potential in other countries outside of West Africa, including Asia and Central America.  The market feels that there is less demand and the lack of demand is expected to continue.  Malaysia and the US have apparently agreed to allow Malaysian Cocoa into the US with 0 tariffs.  Cocoa arrivals in ports in top grower Ivory Coast were picking up after a slow start to the season.  Dealers said that cocoa arrivals in ports in top grower Ivory Coast were picking up after a slow start to the season. A total of about 107,000 tons were delivered between November 3 and November 9, up from 90,000 tons in the same week of the previous season,
Overnight News:
Chart Trends:  Trends in New York are up.  Support is at 5630, 5570, and 5510 December, with resistance at 6680, 6870, and 7140 December.  Trends in London are mixed.  Support is at 4010, 3920, and 3860 December, with resistance at 4870, 4970, and 5100 December.
Questions? Ask Jack Scoville today at 312-264-4322        
Tagged with: • • • • • • •