Softs Report 09/04/2025

DJ U.S. July Coffee, Cocoa Imports-Sep 4
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Jul 2025—- —-Jun 2025—-
-coffee- kilograms pounds kilograms pounds
coffee, unroasted 92,263,328 203,440,638 112,486,479 248,032,686
coffee, roasted 2,587,122 5,704,604 10,017,082 22,087,666
coffee, soluble
instant 7,045,096 15,534,437 8,065,080 17,783,501
-Cocoa-
cocoa beans 17,099,057 37,703,421 28,315,656 62,436,021
sweetened bars/block
10 lbs or over 2,057,431 4,536,635 2,228,260 4,913,313
for retail candy 9,750 21,499 0 0
cocoa butter 12,663,578 27,923,189 15,688,044 34,592,137
cocoa paste,
not defatted 7,540,032 16,625,771 10,668,491 23,524,023
cocoa paste
defatted 3,319,000 7,318,395 4,486,860 9,893,526
cocoa powder,
unsweetened 9,475,294 20,893,023 12,013,855 26,490,550
cocoa powder,
sweetened 199,286 439,426 72,260 159,333
confectioners
coating 4,939,430 10,891,443 5,219,969 11,510,032
candy containing
chocolate 17,293,138 38,131,369 17,724,952 39,083,519

COTTON
General Comments: Cotton was higher despite worries about Asian demand. Better weather is expected for the Delta and Southeast for the coming week as crop condition reports were mostly unchanged. There are still reports of hotter and drier weather in West Texas. There are still ideas that growing conditions are generally good. There are still reports of better weather in Texas and into the Southeast and demand concerns caused by the tariff wars are still around. It is starting to turn dry in west Texas again, however. The monsoon in India is good and a good production there is possible.
Overnight News:
Chart Trends: Trends in Cotton are mixed. Support is at 65.80, 64.30, and 63.00 December, with resistance of 68.90, 69.50 and 69.90 December.

DJ U.S. July Cotton Exports-Sep 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 ——-
Jul 25 Jun 25 May 25 Jul 24
Upland, under 1 inch 4,171,386 6,325,069 7,525,370 2,790,546
1 to 1 1/8 inch 53,951,586 75,355,041 88,047,994 45,308,646
Amer pima, over 1 1/8 inc 9,169,845 8,960,398 6,792,175 2,829,184
upland 1 1/8 and over 136,818,929 128,900,950 172,164,670 117,560,843
All cotton 204,111,746 219,541,458 274,530,209 168,489,219
——- In Running 480-Pound Bales ——-
Jul 25 Jun 25 May 25 Jul 24
Upland, under 1 inch 19,159 29,051 34,564 12,817
1 to 1 1/8 inch 247,798 346,103 404,401 208,101
upland 1 1/8 and over 42,117 41,155 31,196 12,994
Amer pima, over 1 1/8 inc 628,404 592,037 790,746 539,953
All cotton 937,478 1,008,346 1,260,907 773,865

FCOJ
General Comments: Futures were higher yesterday. Trends are turning down on the daily charts. Development conditions are good in Florida now with daily rounds of showers. The poor production potential for the crops comes from early dry weather but also the greening disease that has caused many Florida and closed near the lows of the week producers to lose trees.
Overnight News: ICE said that 0 notices were posted for delivery against September futures and that total deliveries for the month are now 0 contracts.
Chart Trends: Trends in FCOJ are mixed to down. Support is at 236.00, 227.00, and 222.00 November, with resistance at 252.00, 254.00, and 260.00 November.

COFFEE
General Comments: New York and London were higher yesterday as traders liquidated long positions. There are still reduced deliverable supplies for both exchanges as commercials have taken the supplies instead of buying in cash markets. Robusta is still more available to the market and with Brazil holding back on offers to world destinations. The lack of deliverable stocks in both markets and the lack of deliveries has supported the futures market. Prices had been dropping for several weeks and are much more moderate than before as supplies available to the market have ticked up. The Brazil harvest is moving along, and Indonesia about over. Vietnam is done with its harvest. A cold snap earlier this month will reduce the size of the next coffee crop in Brazil’s Cerrado Mineiro growing region by around 412,000 60-kg bags, or 5.5%, Expocacer said. Rains will be needed in September to improve the outlook for next year’s arabica crop in Brazil, which has been impacted by dry weather and cold snaps.
Overnight News: The ICO average price is 321.71 ct/lb. ICE NY said that 0 contracts were delivered against September futures and that total deliveries for the month are now 853 contracts.
Chart Trends: Trends in New York are up. Support is at 364.00, 343.00, and 337.00 December, and resistance is at 399.00, 405.00 and 412.00 December. Trends in London are up. Support is at 4300, 4100, and 3910 November, with resistance at 4800, 4980, and 5060 November.

SUGAR
General Comments: New York and London were lower on reported speculative selling. The Brazil production could be less, in part due to a recent freeze event and in part to reports of less sucrose in the cane. There were ideas of less European production this year that could rally prices later in the year but have drawn no interest so far from speculators. Ideas of good supplies for the market from good growing conditions for cane and beets around the world continue. The South Center Brazil harvest is faster now amid drier conditions. Production in Center-South Brazil has also been strong. Good growing conditions are reported in India and Thailand after a fast start to the Monsoon season.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 1660, 1620, and 1590 March and resistance is at 1720, 1740, and 1760 March. Trends in London are mixed. Support is at 470.00, 465.00, and 456.00 December, with resistance at 483.00, 488.00, and 492.00 December.

COCOA
General Comments: New York was a little higher and London was a little lower in consolidation trading as weather concerns in West Africa took center stage. There are still reports of increased production potential in other countries outside of West Africa, including Asia and Central America, but Africa has turned dry and producers there are concerned about potential losses now. The market feels that there is less demand and less production from Ivory Coast and Ghana. Dealers said there were signs the U.S. was moving to exempt some cocoa producers from tariffs, including potentially Ecuador and Indonesia. The U.S. has agreed in principle to exempt Indonesian exports of cocoa from the 19% tariff imposed by the US.
Overnight News: ICE NY said that there were 0 notices were posted for delivery against September futures and that total deliveries for the month are now 595 contracts.
Chart Trends: Trends in New York are mixed. Support is at 7320, 7150, and 710 December, with resistance at 8050, 8140, and 8500 December. Trends in London are mixed to down. Support is at 5150, 4930, and 4700 December, with resistance at 5300, 5500, and 5650 December

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