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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

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Softs Report 11/25/2025

By On November 25, 2025 - 9:50 AM · In Market Commentaries, Morning Grains & Softs Report
COTTON
General Comments:   Cotton was higher yesterday, but the market is holding to mostly sideways trends.  Some traders still hope for some new Cotton demand but as the cash market appears to be quiet.  Farmers are also not selling too much due to price.  A lack of new Chinese demand has been important and a reason to see lower US prices.  The US harvest is over in most areas and initial yield reports are good.  US stocks were higher yesterday.  The monsoon in India is good and a good production there is possible.
Overnight News:  ICE said that 28 notices were posted for delivery against December futures and that total deliveries for the month are now 171 contracts.
Chart Trends:  Trends in Cotton are mixed to down.  Support is at 63.20, 62.60, and 62.00 March, with resistance of 65.40, 65.90 and 66.20 March.
FCOJ
General Comments:  Futures were lower yesterday, and the trends are down on the daily charts.  Traders are worried about demand even with lower prices.  FCOJ from Brazil has been subjected to tariffs and those continue for the most part.  The weather is considered good for production here and in Brazil and Mexico.  Development conditions are good in Florida and in Brazil now with occasional showers in Florida and dry weather in Brazil.
Overnight News:  ICE said that 105 notices were posted for delivery against November futures and that total deliveries for the month are 533 contracts.
Chart Trends:  Trends in FCOJ are mixed to down.  Support is at 128.00, 122.00, and 116.00 January, with resistance at 148.00, 156.00, and 164.00 January.
COFFEE
General Comments:  New York was higher and London was lower yesterday, and trends are mixed in New York and in London.  Scattered showers are being reported now to improve tree condition in Brazil.  Mexico is in good condition, as is Central America.  Vietnam has seen too much rain as typhoons hit the country, and big rains are reported in central areas again and are causing flooding and yield and quality concerns.
Overnight News: The ICO average price is 326.07 ct/lb.  ICE NY said that 5 notices were posted for delivery against December futures and that total deliveries for the month are now 408 contracts.
Chart Trends: Trends in New York are mixed.  Support is at 363.00, 359.00, and 352.00 March, and resistance is at 390.00, 400.00 and 415.00 March.  Trends in London are mixed.  Support is at 4260, 4140, and 4000 January, with resistance at 4690, 4790, and 4850 January.
SUGAR
General Comments:  New York and London were a little higher yesterday in consolidation trading.  Trends are sideways.  There are still ideas of good supplies for the market from good growing conditions for cane and beets around the world continue.  Production in Center-South Brazil has also been strong, but the south center harvest is almost over.  The prospect of a big global surplus in the 2025/26 season was keeping the market on the defensive with a rise in production in India and Thailand set to increased supplies while global consumption is expected to remain steady.
Overnight News:
Chart Trends: Trends in New York are mixed.  Support is at 1460, 1430, and 1400 March and resistance is at 1520, 1540, and 1610 March.  Trends in London are mixed to down.  Support is at 416.00, 410.00, and 408.00 March, with resistance at 437.00, 445.00, and 452.00 March.
COCOA
General Comments:  New York closed mixed and London closed lower yesterday.  A big main crop harvest is anticipated in West Africa.  Demand concerns in West Africa continue.  Light rains mixed with heat in Ivory Coast’s cocoa-growing regions last week signaled a positive outlook for the main 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 and the lack of demand is expected to continue.  Traders are concerned over poor quality beans in Ivory Coast and talk that both Ivory Coast and Ghana have stopped marketing beans due to low prices.
Overnight News:  ICE NY said that 717 notices were posted for delivery against December futures and that total deliveries for the month are now 1,182 contracts.
Chart Trends:  Trends in New York are down.  Support is at 5000, 4940, and 4880 March, with resistance at 5540, 5780, and 6110 March.  Trends in London are mixed to down.  Support is at 4980, 3680, and 3620 March, with resistance at 4050, 4200, and 3180 March.
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