Softs Report 06/26/2026

COTTON
General Comments: Cotton was higher on short covering and on ideas that futures Have dropped enough for now. USDA showed that condition is still well behind year ago levels, with some areas showing improvement and other areas showing deterioration with the crop in thew squaring phase. Forecasts and reports of scattered showers in Cotton areas continue for Texas, the Delts, and the Southeast. Temperatures will be variable. Trends are mixed on the daily and weekly charts.
Overnight News: ICE said that 12 contracts were posted for delivery against July futures and that total deliveries for the month are now 542 contracts.
Chart Trends: Trends in Cotton are mixed to up. Support is at 76.10, 75.30, and 74.50 December, with resistance of 79.20, 80.40 and 81.60 December.

FCOJ
General Comments: Futures were lower again on follow through selling and trends are down on the daily and weekly charts. 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 136.00, 130.00, and 124.00 July, with resistance at 178,00 184.00, and 190.00 July.

COFFEE
General Comments: New York and London were lower yesterday after failing to make new highs for the move. The harvest delays in both Brazil and Vietnam continue. The next crop is developing well in South America and Asia amid good conditions, but the rain seen lately have pushed the harvest progress behind year ago levels. 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 some showers but producers are not selling and are waiting for a move higher in prices.
Overnight News: The ICO average price is 260.51 ct/lb. ICE NY said that 15 notices were posted for delivery against July contracts today and that total deliveries for the month are now 18 contracts.
Chart Trends: Trends in New York are up. Support is at 268.00, 260.00, and 256.00 September, and resistance is at 285.00, 294.00 and 298.00 September. Trends in London are mixed to up. Support is at 3470, 3430, and 3330 September, with resistance at 369 a little0, 3730, and 3920 September.

SUGAR
General Comments: Both markets were higher again yesterday. The Iran war has been paused as both sides signing a memorandum of understanding and continuing negotiations in Geneva. Trends are mixed or down 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 October and resistance is 1410, 1450, and 1480 October. Trends in London are mixed. Support is at 430.00, 424.00, and 417.00 October, with resistance at 445.00, 448.00, and 454.00 October.

COCOA
General Comments: Both markets closed higher as the Markets make new highs. Daily trends are up. 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: ICE NY said that 17 notices were posted for delivery against July futures and that total deliveries for the month are now 267 contracts.
Chart Trends: Trends in New York are up. Support is at 4400, 4190, and 3960 September, with resistance at 5360, 5420, and 5660 September. Trends in London are up. Support is at 3260, 3140, and 3090 September, with resistance at 4080, 4200, and 4350 September.

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