Softs Report 06/08/2026

COTTON
General Comments: Cotton was much lower last week on weaker export sales and on improving weather for Cotton growing areas of the US. USDA showed that planting progress and emergence were running at near normal last week and the weather has improved with increased precipitation for all areas, but mostly the Delta and Southeast. Forecasts and reports of scattered showers in Cotton areas continue for Texas. Temperatures will be variable. Trends are down on the daily and weekly charts.
Overnight News:
Chart Trends: Trends in Cotton are mixed. Support is at 74.80, 74.00, and 73.40 July, with resistance of 80.00, 81.70 and 83.90 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
COTTON NO. 2 – ICE FUTURES U.S.
CFTC Code #033661 Open Interest is 513,587
: Positions :
: 103,410 38,611 170,879 134,040 265,272 84,491 26,889 492,819 501,651: 20,767 11,936
: Changes from: May 26, 2026 (Change in open interest: 11,707) :
: 392 3,764 1,953 7,911 3,732 1,394 1,106 11,649 10,555: 58 1,152
: Percent of Open Interest Represented by Each Category of Trader :
: 20.1 7.5 33.3 26.1 51.7 16.5 5.2 96.0 97.7: 4.0 2.3
: Total Traders: 372 Number of Traders in Each Category :
: 171 71 128 73 68 44 22 333 244:
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FCOJ
General Comments: Futures were a little higher in choppy trading last week and trends are still mixed on the daily charts. The market firmed along with most commodities markets on news that a potential MOU with Iran only was waiting on President Trump to approve it. It is still dry in Florida. The weather for the next crop is dry but seasonal and some rains are now being reported. The weather is considered good for production in Mexico but it is dry in Brazil. Scattered showers are still reported in eastern Brazil but many areas are drying out seasonally.
Overnight News:
Chart Trends: Trends in FCOJ are mixed to down. Support is at 148.00, 142.00, and 136.00 July, with resistance at 173,00 178.00, and 188.00 July

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 2, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
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FRZN CONCENTRATED ORANGE JUICE – ICE FUTURES U.S. (CONTRACTS OF 15,000 POUNDS) :
CFTC Code #040701 Open Interest is 9,055 :
: Positions :
: 1,949 3,415 657 0 147 2,260 2,150 51 1,448 387 1,007 :
: Changes from: May 26, 2026 :
: 77 -352 -22 0 66 -92 146 51 -9 65 278 :
: Percent of Open Interest Represented by Each Category of Trader :
: 21.5 37.7 7.3 0.0 1.6 25.0 23.7 0.6 16.0 4.3 11.1 :
: Number of Traders in Each Category Total Traders: 48 :
: 10 7 4 0 . 6 11 . 10 4 7 :
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COFFEE
General Comments: Both markets were lower last week. The US and Iran are still negotiating even with the war turning hotter again. The next crop is developing well in South America and Asia amid good conditions. World production conditions are generally good. Mostly dry conditions are being reported now in Brazil. Mexico is in good condition, as Central America. Vietnam has had drier weather and conditions there are called good. Some showers are starting to appear there.
Overnight News: The ICO average price is 232.92 ct/lb.
Chart Trends: Trends in New York are down. Support is at 242.00, 236.00, and 230.00 July, and resistance is at 262.00, 390.00 and 287.00 July. Trends in London are mixed. Support is at 3250, 3180, and 3120 July, with resistance at 3610, 3650, and 3680 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
COFFEE C – ICE FUTURES U.S.
CFTC Code #083731 Open Interest is 253,211
: Positions :
: 36,880 31,769 93,426 74,747 104,533 38,032 13,436 243,085 243,165: 10,126 10,047
: Changes from: May 26, 2026 (Change in open interest: 17,795) :
: -362 2,944 6,697 9,879 5,094 -255 1,343 15,959 16,078: 1,835 1,717
: Percent of Open Interest Represented by Each Category of Trader :
: 14.6 12.5 36.9 29.5 41.3 15.0 5.3 96.0 96.0: 4.0 4.0
: Total Traders: 380 Number of Traders in Each Category :
: 75 140 125 94 106 38 24 293 315:
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SUGAR
General Comments: New York and London were a little higher last week. The Iran war drags on and the strait of Hormuz remains closed. The war has increased world petroleum prices and could divert demand from Sugar production to production of ethanol. 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. Drier weather in parts of Brazil and India have been good for the harvest.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 1370, 1340, and 1310 July and resistance is 1550, 1570, and 1600 July. Trends in London are mixed. Support is at 404.00, 398.00, and 392.00 August, with resistance at 457.00, 468.00, and 474.00 August.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SUGAR NO. 11 – ICE FUTURES U.S.
CFTC Code #080732 Open Interest is 1,187,070
: Positions :
: 130,886 270,062 282,298 359,950 456,402 325,948 94,392 1,099,081 1,103,154: 87,988 83,916
: Changes from: May 26, 2026 (Change in open interest: 4,418) :
: -5,935 16,096 9,397 14,255 -26,779 -14,199 3,270 3,517 1,984: 901 2,434
: Percent of Open Interest Represented by Each Category of Trader :
: 11.0 22.8 23.8 30.3 38.4 27.5 8.0 92.6 92.9: 7.4 7.1
: Total Traders: 305 Number of Traders in Each Category :
: 89 85 91 77 69 42 22 265 213:
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COCOA
General Comments: Both markets were lower last week. Daily trends are turning down 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.
Overnight News:
Chart Trends: Trends in New York are mixed to down. Support is at 3830, 3650, and 3490 July, with resistance at 4460, 4780, and 5130 July. Trends in London are mixed to down. Support is at 2750, 2710, and 2500 July, with resistance at 3350, 3550, and 3690 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
COCOA – ICE FUTURES U.S.
CFTC Code #073732 Open Interest is 262,323
: Positions :
: 25,151 52,174 90,018 80,347 93,288 56,419 16,725 251,934 252,204: 10,389 10,119
: Changes from: May 26, 2026 (Change in open interest: 4,147) :
: 298 783 3,293 2,120 -525 -990 304 4,721 3,855: -573 292
: Percent of Open Interest Represented by Each Category of Trader :
: 9.6 19.9 34.3 30.6 35.6 21.5 6.4 96.0 96.1: 4.0 3.9
: Total Traders: 227 Number of Traders in Each Category :
: 54 78 86 48 39 33 20 195 171:
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Questions? Ask Jack Scoville today at 312-264-4322