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
Softs Report 07/20/2026
COTTON
General Comments: Cotton was a little lower last week despite reports of flooding rains in Texas. Geopolitical problems in the Middle East are stronger. The weekly export sales report showed very poor demand. A tropical system has entered the state and it has been raining for the last couple of days. It remains hot and dry in parts of the southeast. USDA showed that conditions are still well behind year ago levels and showed deterioration with the crop in the squaring and setting bolls phase. Progress is about average, with bolls starting to be set and squaring proceeding at a normal pace. Forecasts and reports of scattered showers in Cotton areas continue for the Delts, and the Southeast. Temperatures will be warm. Trends are turning mixed on the daily and are mixed on the weekly charts.
Overnight News: ICE said that 0 notices were posted for delivery against July futures and that total deliveries for the month are now 627 contracts.
Chart Trends: Trends in Cotton are mixed to down. Support is at 79.30, 77.10, and 75.50 December, with resistance of 84.20, 86.20 and 88.10 December.
COT — Supplemental Report – Option and Futures Combined Positions as of July 14, 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 456,949
: Positions :
: 108,281 32,820 128,849 117,685 259,213 82,618 27,015 437,433 447,897: 19,516 9,053
: Changes from: July 7, 2026 (Change in open interest: 2,635) :
: 300 -6,769 -3,690 1,732 12,506 1,894 911 236 2,958: 2,398 -323
: Percent of Open Interest Represented by Each Category of Trader :
: 23.7 7.2 28.2 25.8 56.7 18.1 5.9 95.7 98.0: 4.3 2.0
: Total Traders: 361 Number of Traders in Each Category :
: 159 63 112 73 66 44 17 319 219:
——————————————————————————————————————-
FCOJ
General Comments: Futures were lower LAST week and trends are still down on the daily and weekly charts. USDA increased us production to 63.5 million boxes and Florida production to 12.9 million boxes. 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. The Trump administration has exempted oranges and orange juice from the new round of tariffs announced on Brazil.
Overnight News: ICE said that 0 notices were posted for delivery against July futures and that total deliveries for the month are now 3 contracts.
Chart Trends: Trends in FCOJ are down. Support is at 134.00, 128.00, and 122.00 September, with resistance at 167,00 174.00, and 176.00 September.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 14, 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 10,422 :
: Positions :
: 2,318 3,174 804 247 133 2,356 2,863 157 1,517 582 1,113 :
: Changes from: July 7, 2026 :
: 328 -533 112 150 -20 -469 179 74 -134 176 363 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.2 30.5 7.7 2.4 1.3 22.6 27.5 1.5 14.6 5.6 10.7 :
: Number of Traders in Each Category Total Traders: 51 :
: 9 6 . . . 7 11 . 9 9 7 :
—————————————————————————————————————-
COFFEE
General Comments: New York and London was higher last week. The harvest delays in both Brazil and Vietnam continue but was lower ffee is more and more available. The next crop is developing well in South America and Asia amid hot and dry conditions. Other world production conditions are generally good. Mostly dry conditions are being reported in Brazil. Mexico is in good condition, but Central America is dry.
Overnight News: The ICO average price is 287.86 ct/lb. ICE NY said that 123 notices were posted for delivery against July futures and that total deliveries for the month are now 652 contracts.
Chart Trends: Trends in New York are mixed to down. Support is at 300.00, 285.00, and 279.00 September, and resistance is at 372.00, 384.00 and 396.00 September. Trends in London are mixed. Support is at 3680, 3620, and 3560 September, with resistance at 4120, 4180, and 4240 September.
COT — Supplemental Report – Option and Futures Combined Positions as of July 14, 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 228,276
: Positions :
: 32,131 19,677 93,468 55,110 102,586 40,168 6,630 220,877 222,361: 7,399 5,915
: Changes from: July 7, 2026 (Change in open interest: -13,977) :
: -1,591 -3,822 -12,881 1,975 3,730 -777 -524 -13,275 -13,497: -702 -480
: Percent of Open Interest Represented by Each Category of Trader :
: 14.1 8.6 40.9 24.1 44.9 17.6 2.9 96.8 97.4: 3.2 2.6
: Total Traders: 363 Number of Traders in Each Category :
: 90 95 107 106 121 39 18 294 290:
——————————————————————————————————————-
SUGAR
General Comments: New York and London were near unchanged last week as the Iran war made bio fuels more valuable again. Drought in Europe and Brail are a major concern. The hot and dr weather is threatening Sugarbeets production. The Iran war has been paused as both sides signing a memorandum of understanding and continuing negotiations in Geneva. 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 has been good for the harvest.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 1440, 1410, and 1380 October and resistance is 1540, 1560, and 1590 October. Trends in London are mixed. Support is at 448.00, 443.00, and 436.00 October, with resistance at 490.00, 496.00, and 502.00 October.
COT — Supplemental Report – Option and Futures Combined Positions as of July 14, 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 1,180,502
: Positions :
: 201,383 276,001 251,253 345,545 479,336 302,699 100,612 1,100,880 1,107,203: 79,621 73,299
: Changes from: July 7, 2026 (Change in open interest: -7,325) :
: 3,216 13,883 -19,054 14,648 9,006 -1,720 -6,846 -2,911 -3,011: -4,414 -4,314
: Percent of Open Interest Represented by Each Category of Trader :
: 17.1 23.4 21.3 29.3 40.6 25.6 8.5 93.3 93.8: 6.7 6.2
: Total Traders: 307 Number of Traders in Each Category :
: 97 81 104 72 67 41 18 263 221:
——————————————————————————————————————-
COCOA
General Comments: Both markets closed lower last week on what appeared to be long liquidation. Daily and weekly trends are turning mixed. 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 said that 0 notices were posted for delivery against July futures and that total deliveries for the month are now 423 contracts.
Chart Trends: Trends in New York are mixed to up. Support is at 5240, 5180, and 4860 September, with resistance at 6240, 6300, and 6360 September. Trends in London are mixed to up. Support is at 3800, 3660, and 3540 September, with resistance at 4650, 4710, and 4770 September.
COT — Supplemental Report – Option and Futures Combined Positions as of July 14, 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 272,953
: Positions :
: 19,803 40,615 105,732 87,597 102,106 49,163 15,422 262,295 263,873: 10,658 9,079
: Changes from: July 7, 2026 (Change in open interest: 5,679) :
: -3,638 -5,204 3,985 7,385 6,266 -1,157 1,665 6,576 6,711: -896 -1,032
: Percent of Open Interest Represented by Each Category of Trader :
: 7.3 14.9 38.7 32.1 37.4 18.0 5.6 96.1 96.7: 3.9 3.3
: Total Traders: 212 Number of Traders in Each Category :
: 55 70 87 41 37 28 18 182 163:
Questions? Ask Jack Scoville today at 312-264-4322