Softs Report 10/07/2026

COTTON
General Comments: Cotton was a little higher yesterday on follow through chart based buying by speculators. The weather is expected to feature somewhat cooler temperatures and rains, especially in West Texas and harvest progress has been interrupted. The rains could create some quality issues with open bolls. USDA showed that conditions are now 33% good to excellent. Progress shows that the crop now 23% harvested and 74% opening bolls. Forecasts and reports of showers in Cotton areas continue for the Delts, and the Southeast. Temperatures will be warm in all areas.
Overnight News ICE said that 0 notices were posted for delivery against October futures and that total deliveries for the month are now 14 contracts.
Chart Trends: Trends in Cotton are mixed to up. Support is at 75.50, 74.20, and 73.00 December, with resistance of 82.40, 84.00 and 85.30 December

FCOJ
General Comments: Futures were higher again yesterday and recovered from a test of the lows seen in July. Price trends are still down on the daily charts. Showers are showing up in Florida and trees are recovering. The weather for the next crop is seasonal. The weather is considered good for production in Mexico and showers are developing in Brazil as the rainy season is starting on time.
Overnight News:
Chart Trends: Trends in FCOJ are mixed. Support is at 137.00, 135.00, and 132.00 September, with resistance at 156,00 159.00, and 167.00 September.

COFFEE
General Comments: New York and London were both higher again yesterday and New York retested the highs of last week as Brail crops are looking better with good weather and with improving rans but as producers held back on sales due to recent price weakness. Trends are up in New York and in London. The Brazil harvest is almost over despite increased rains. Conditions are called good for next crop development and the wet season is starting on time. Arabica has been boosted near term by quality concerns owing to excess El Nino-linked rains in Brazil, and worries the weather pattern might cause dryness ahead. The next crop is developing in the rest of South America amid scattered to isolated showers. Indonesia is now about done with its harvest. Asian conditions are called good. Other world production conditions are generally good. Mexico is in good condition, but Central America has been dry. Vietnam exported 1.45 million metric tons of coffee in the first nine months of 2026, up 16.2%.
Overnight News: The ICO average price is 269.61 ct/lb.
Chart Trends: Trends in New York are mixed to up. Support is at 291.00, 284.00, and 278.00 December, and resistance is at 309.00, 317.00 and 329.00 December. Trends in London are mixed to up. Support is at 3450, 3340, and 3260 November, with resistance at 3610, 3890, and 3920 November.

SUGAR
General Comments: New York and London were higher yesterday and New York made new highs on follow through buying. Trends are up in both markets. Drought in Brazil was a major concern but rains have returned to center-south regions. Refineries in the region are producing ethanol at the expense of Sugar. Indian production is less after hot and dry conditions and production in the rest of Asia could be hurt by El Nino weather. Higher world petroleum prices are supporting higher ethanol prices and could cause less Sugar to be produced. Brazilian production dropped 41.6% in the first half of September due to excess rains.
Overnight News:
Chart Trends: Trends in New York are up. Support is at 1990, 1910, and 1840 March and resistance is 2110, 2140, and 2170 March. Trends in London are up. Support is at 532.00, 517.00, and 510.00 December, with resistance at 558.00, 564.00, and 570.00 December.

COCOA
General Comments: New York and London were both lower yesterday as the buying dried up. Weekly trends are turning up and the charts display a bottoming formation. A big main crop harvest has arrived in West Africa but it has now turned dry for the next crop. Dry conditions in Ivory Coast have created concerns about the prospects for 2026/27 production, although a large global surplus in 2025/26 has ensured that short-term supplies remain ample. Ivory Coast’s main crop is seen falling around 17% this season, according to a Reuters survey, while Ivorian farmers said that poor rainfall risks bringing the September-to-February main crop to an early end. 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 but demand has started to increase. Cocoa arrivals at Ivorian ports stood at 18,000 metric tons in the week to October 4, bringing the total since the 2025/26 season start to 54,500 tons.
Overnight News:
Chart Trends: Trends in New York are up. Support is at 5060, 4990, and 4780 December, with resistance at 6200, 6440, and 6620 December. Trends in London are up. Support is at 4070, 3790, and 3770 December, with resistance at 4510, 4620, and 4690 December.

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