Softs Report 04/16/2026

COTTON
General Comments: Cotton was higher yesterday as rains are now forecast for the western Great Plains and desert southwest but not in a general way. The south looks to stay mostly dry for now with planting dates on the calendar now The WASDE reports from last week showed no significant changes. The market is worried about the weather that remains hot and dry in US Cotton areas, mostly from Texas to the west, but increasingly on areas of the deep south and southeast. 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. Trends are up on the daily charts.
Overnight News:
Chart Trends: Trends in Cotton are up. Support is at 73.60, 72.70, and 72.00 May, with resistance of 75.50, 76.10 and 76.70 May.

DJ U.S. Export Sales: Weekly Sales Totals-Apr 16
For the week ended Apr 9, in thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total commitments are total export shipments plus total sales. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
upland cotton 161.1 26.9 10408.6 10553.1 3700.7 1175.3
pima cotton 6.5 0.0 370.0 385.5 112.2 0.5

FCOJ
General Comments: Futures were lower yesterday on what was reported to be speculative selling Trends are mixed on the daily charts. The Florida harvest is about over and isolated showers are now being reported. The weather for the next crop is dry but seasonal and some rains are starting to appear. Chart trends are down on the daily charts. The weather is considered good for production in Brazil and Mexico. Scattered showers are still reported in Brazil.
Overnight News:
Chart Trends: Trends in FCOJ are down. Support is at 181.00, 174.00, and 168.00 May, with resistance at 212,00 221.00, and 226.00 May.

COFFEE
General Comments: New York and London were both a little higher in choppy trading. The next crop is developing jin South America and Asia. There are still ideas of good supplies available on the farm, but getting Coffee from the farm to the market is another problem due to the war with Iran. Brazil said exports might not improve that much in March due to shipping costs and concerns. 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. World production conditions are generally good. 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 271.63 ct/lb.
Chart Trends: Trends in New York are mixed. Support is at 282.00, 276.00, and 270.00 May, and resistance is at 312.00, 319.00 and 325.00 May. Trends in London are up. Support is at 3440, 3200, and 3140 May, with resistance at 3550, 3610, and 3700 May.

SUGAR
General Comments: New York and London were both lower yesterday. The war has increased world petroleum prices and could divert demand from Sugar production to production of ethanol. But some in the market expect less war in the near future. India, the world’s second-largest producer, had no plans to curb sugar exports to provide downward pressure on prices. Trends are mixed on the daily charts in both markets. 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 down. Support is at 1370, 1310, and 1260 July and resistance is 1540, 1570, and 1630 July. Trends in London are down. Support is at 404.00, 398.00, and 392.00 August, with resistance at 438.00, 463.00, and 468.00 August.

COCOA
General Comments: New York and London closed hlower yesterday. 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:
Chart Trends: Trends in New York are mixed. Support is at 2950, 2880, and 2820 May, with resistance at 3380, 3480, and 3390 May. Trends in London are down. Support is at 2320, 2130, and 2020 May, with resistance at 2640, 2770, and 3150 May.

Questions? Ask Jack Scoville today at 312-264-4322