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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

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Softs Report 01/13/2026

By On January 13, 2026 - 9:35 AM · In Market Commentaries, Morning Grains & Softs Report
COTTON
General Comments:   Cotton was higher in response to the USDA reports that showed less production and unchanged demand.  Ending stocks were less.  The market expected production near 14.20 million bales and ending stocks near 4.56 million bales.  World production is estimated at 119.46 million bales and ending stocks are estimated at 75.62 million bales.  Commercials have been buying futures in recent weeks.  Farmers are not selling too much due to price, but buyers are hard to find.  The weekly export sales report was poor.  The lack of demand seems to be part of the price for now.
Overnight News:
Chart Trends:  Trends in Cotton are mixed.  Support is at 63.70, 63.00, and 62.40 March, with resistance of 65.90, 66.40 and 67.20 March.
FCOJ
General Comments:  Futures were lower yesterday on the USDA reports that showed US production at 54.8 million boxes and Florida production at 12.0 million boxes.  Both estimates are unchanged from previous reports.  Chart trends are mixed.  There is no freeze in the forecast, but areas north of the state have been very cold.  Florida has also been dry and irrigation is needed.  Traders are worried about demand even with overall lower prices.  The weather is considered good for production in Brazil and Mexico.  Scattered showers are reported in Brazil.
Overnight News:  ICE said that 0 notices were posted for delivery against January futures and that total deliveries for the month are now 0 contracts.
Chart Trends:  Trends in FCOJ are mixed.  Support is at 184.00, 174.00, and 168.00 March, with resistance at 226.00, 230.00, and 240.00 March.
COFFEE
General Comments:  New York was a little lower and London was a little higher yesterday, and trends are still up in New York on the daily charts and are still mixed on the daily report in London.  There are still ideas and reports of increasing harvest sales from Vietnam.  There are reports of very good conditions in Brazil that has caused some farm selling in recent days, but most are holding for better prices.  Scattered showers are being reported now to improve tree condition in Brazil.  Mexico is in good condition, as is Central America.  Vietnam has scattered showers lately and conditions there are called good.  Vietnamese producers are selling.
Overnight News: The ICO average price is 294.97 ct/lb.
Chart Trends: Trends in New York are mixed.  Support is at 353.00, 345.00, and 339.00 March, and resistance is at 385.00, 390.00 and 400.00 March.  Trends in London are mixed to up.  Support is at 3860, 3730, and 3670 March, with resistance at 4070, 4100, and 4190 .
SUGAR
General Comments:  New York and London were lower yesterday.  There are still ideas of good supplies for the market from good growing conditions for cane and beets around the world continue.  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 increase supplies while global consumption is expected to remain steady.
Overnight News:
Chart Trends: Trends in New York are mixed.  Support is at 1450, 1440, and 1410 March and resistance is at 1510, 1540, and 1560 March.  Trends in London are mixed.  Support is at 415.00, 410.00, and 404.00 March, with resistance at 431.00, 437.00, and 445.00 March.
COCOA
General Comments:  New York and London closed higher after a sharp move lower late last week.  Short term trends are down after a sharp move lower on Friday.  A big main crop harvest is anticipated in West Africa and rains have been positive for crops lately.  Light rains mixed with heat in Ivory Coast’s cocoa-growing regions last week signaled a positive outlook for the main crop.  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.  Cocoa bean arrivals at ports in Ivory Coast fell 3.4% between Oct 1 and January 4 versus the same period last season. This might be partly down to unusual rain in December.
Overnight News:
Chart Trends:  Trends in New York are mixed.  Support is at 5270, 5200, and 5140 March, with resistance at 5790, 6970, and 6232 March.  Trends in London are mixed.  Support is at 3830, 3650, and 3530 March, with resistance at 4200, 4290, and 4530 March.
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