Softs Report 11/04/2026

DJ U.S. September Coffee, Cocoa Imports-Nov 4
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Sep 2026—- —-Aug 2026—-
-coffee- kilograms pounds kilograms pounds
coffee, unroasted 77,065,902 169,930,314 82,175,397 181,196,750
coffee, roasted 1,820,055 4,013,221 1,856,641 4,093,893
coffee, soluble
instant 5,837,978 12,872,741 7,498,180 16,533,487
-Cocoa-
cocoa beans, organic 1,894,729 4,177,877 2,611,987 5,759,431
cocoa beans, Nesoi 43,429,477 95,761,997 27,299,132 60,194,586
sweetened bars/block
10 lbs or over 1,872,075 4,127,925 1,812,140 3,995,769
for retail candy 3,304,710 7,286,886 4,498,531 9,919,261
cocoa butter 11,783,313 25,982,205 9,937,407 21,911,982
cocoa paste,
not defatted 8,622,592 19,012,815 6,117,867 13,489,897
cocoa paste
defatted 4,868,432 10,734,893 2,688,100 5,927,261
cocoa powder,
unsweetened 8,525,981 18,799,788 8,525,981 18,799,788
cocoa powder,
sweetened 592,396 1,306,233 440,108 970,438
confectioners
coating 3,988,219 8,794,023 4,828,341 10,646,492
candy containing
chocolate 7,366,804 16,243,803 16,566,950 36,530,125

COTTON
General Comments: Cotton was lower again yesterday as Americans went to the polls and on ideas of strong harvest progress amid mostly favorable conditions. The weekly charts shows a down move has begun. The harvest is active amid good conditions. USDA last week showed that conditions are now 33% good to excellent. Progress shows that the crop was 63% harvested and 92% opening bolls. Forecasts and reports of dry conditions in Cotton areas continue for Texas, the Delts, and the Southeast. Temperatures will be warm in all areas.
Overnight News
Chart Trends: Trends in Cotton are mixed. Support is at 77.10, 75.50, and 74.80 December, with resistance of 82.40, 84.00 and 85.30 December

DJ U.S. September Cotton Exports-Nov 4
In kilograms and in running 480-pound bales. Source. U.S. Department
Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Sep 26 Aug 26 Jul 26 Sep 25
Upland, under 1 inch 2,501,902 6,319,071 5,179,827 2,538,179
1 to 1 1/8 inch 37,446,375 40,904,152 50,225,987 30,383,047
Amer pima, over 1 1/8 inc 7,259,030 6,566,550 7,103,481 4,024,140
upland 1 1/8 and over 92,456,852 146,089,713 190,244,597 91,984,920
All cotton 139,664,159 199,879,486 252,753,892 128,930,286
——- In Running 480-Pound Bales ——-
Sep 26 Aug 26 Jul 26 Sep 25
Upland, under 1 inch 11,491 29,023 23,791 11,658
1 to 1 1/8 inch 171,990 187,871 230,686 139,548
upland 1 1/8 and over 33,340 30,160 32,626 18,483
Amer pima, over 1 1/8 inc 424,651 670,985 873,786 422,483
All cotton 641,472 918,039 1,160,889 592,172

FCOJ
General Comments: Futures were higher again yesterday and trends are now mixed on the daily and weekly charts. USDA said that the US oranges production is now estimated at 61.7 million boxes down from 63.5 million last year. Florida production was estimated at 10.0 million boxes, from 13 million last year. Isolated showers are showing up in Florida and trees are suffering from drought. The weather is considered good for production in Mexico and showers and rains are featured in Brazil as the rainy season is here.
Overnight News: ICE said that 0 notices were posted for delivery against November futures and that total deliveries for the month are now 0 contracts.
Chart Trends: Trends in FCOJ are mixed. Support is at 139.00, 128.00, and 122.00 January, with resistance at 149,00 151.00, and 155.00 January.

COFFEE
General Comments: New York and London were lower yesterday. Trends are mixed in London on the daily charts and in New York. Brazil conditions are called good for next crop development, and the wet season is here. 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 to poor, with Indonesia too dry and drier conditions developing in Vietnam. Mexico is in good condition, but Central America has been dry. Premiums are now at or near record highs in Central America due to the drought.
Overnight News: The ICO average price is 250.79 ct/lb.
Chart Trends: Trends in New York are mixed. Support is at 281.00, 278.00, and 270.00 December, and resistance is at 310.00, 318.00 and 322.00 December. Trends in London are mixed. Support is at 3140, 3080, and 3020 January, with resistance at 3310, 3360, and 3430 January.

SUGAR
General Comments: New York and London were much lower yesterday. Trends are down in both markets on the daily and weekly charts. 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. It is too dry in southern China. 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 mixed to down. Support is at 1840, 1800, and 1750 March and resistance is 2000, 2050, and 2080 March. Trends in London are mixed to down. Support is at 506.00, 488.00, and 478.00 March, with resistance at 511.00, 5224.00, and 538.00 March.

COCOA
General Comments: New York and London were a little lower yesterday. Daily chart trends are still turning down. 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. 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.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 5340, 5050, and 4990 December, with resistance at 5440, 5650, and 5910 December. Trends in London are mixed. Support is at 4060, 3790, and 3770 December, with resistance at 4230, 4300, and 4500 December.

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