Softs Report 03/13/2026

COTTON
General Comments: Cotton was a little higher as the weekly export sales report was somewhat positive despite demand fears as the war with Iran continues that could curb export demand for US Cotton, Much of the demand for Cotton comes from the Middle East and Southeast Asia. Overseas production in places like India and Brazil are expected to be high, but overall world production is expected by USDA to fall on reduced global planted rea and reduced yields. USDA on Tuesday made no changes in the monthly domestic WASDE reports but increased ending stocks estimates in the world data. Trends are turning mixed on the daily charts.
Overnight News: ICE said that 0 notices were posted for delivery against March futures and that total deliveries for the month are now 630 contracts.
Chart Trends: Trends in Cotton are mixed. Support is at 63.40, 62.00, and 60.80 May, with resistance of 65.80, 66.40 and 66.80 May.

FCOJ
General Comments: Futures were lower yesterday on long liquidation. The Florida harvest is active but starting to wrap up and the weather remains benign for harvest progress as conditions are mostly dry. The weather for the next crop is dry but seasonal. Chart trends are mixed or up on the daily charts. The weather is considered good for production in Brazil and Mexico. Scattered showers are still reported in Brazil.
Overnight News: ICE said that 0 notices were posted for delivery against March futures and that total deliveries for the month are now 0 contracts.
Chart Trends: Trends in FCOJ are mixed. Support is at 160.00, 153.00, and 1\46.00 May, with resistance at 200.00, 207.00, and 222.00 May.

COFFEE
General Comments: New York and London were higher yesterday in recovery trading. Vietnam producers have pulled back from selling as they have already sold quite a bit. There are reports of very good conditions in Brazil and a large crop is forecast. Brazil producers have stopped selling due to the recent fall in 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.
Overnight News: The ICO average price is 271.35 ct/lb. ICE NY said that 35 notices were posted for delivery against March futures and that total deliveries for the month are now 970 contracts.
Chart Trends: Trends in New York are mixed. Support is at 276.00, 270.00, and 264.00 May, and resistance is at 297.00, 315.00 and 325.00 May. Trends in London are mixed to down. Support is at 3520, 3460, and 3400 May, with resistance at 3890, 3950, and 4130 May.

SUGAR
General Comments: New York and London were both higher yesterday on rallies in petroleum futures despite reports that the Iran war is causing the release of strategic petroleum reserves. President Ttrump has called for a quick end to the war but no one seems to agree with him. Trends are mixed on the daily charts in New York but are turning down in London. There are good supplies for the market from good growing conditions for cane and beets around the world. The prospect of a big global surplus in the 2025/26 season was keeping the market on the defensive but a rise in production in India and Thailand being offset by the war.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 1360, 1340, and 1310 May and resistance is at 1470, 1480, and 1490 May. Trends in London are mixed to down. Support is at 402.00, 395.00, and 388.00 May, with resistance at 426.00, 428.00, and 430.00 May.

COCOA
General Comments: New York and London closed lower yesterday along with most commodities markets. Short term trends are mixed in both markets. A big main crop harvest has arrived in West Africa and rains have been positive for the next 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 due to the high prices seen last year and the lack of demand is expected to continue. Weak demand has led to a build-up on unsold supplies in both Ivory Coast and Ghana, while the prospect of another global surplus in 2026/27 are real. Cocoa demand has fallen sharply after prices nearly tripled in 2024, prompting chocolate makers to reformulate ingredients and shrink the size of their bars.
Overnight News: ICE NY said that – notices were posted for delivery against March futures and that total deliveries for the month are now 793 contracts.
Chart Trends: Trends in New York are mixed. Support is at 2740, 2620, and 2500 May, with resistance at 3860, 4330, and 4400 May. Trends in London are down. Support is at 2000, 1940, and 1880 May, with resistance at 2670, 2970, and 3050 May.

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