Softs Report 02/10/2026

COTTON
General Comments: Cotton was higher yesterday in recovery trading from the down moves of the previous week. Trends are still down on the daily and weekly charts. There are demand concerns moving forward on weak world economy ideas led by the US weakened economy and demands in world forums. Tariffs on other nations that change all the time were creating an atmosphere not conducive for new demand. USDA will issue its latest WASDE reports later today.
Chart Trends: Trends in Cotton are mixed to down. Support is at 60.60, 60.00, and 59.40 March, with resistance of 62.20, 62.60 and 63.10 March.

FCOJ
General Comments: Futures were limit up yesterday as the Florida harvest is active and the weather remains benign for harvest progress as conditions are mostly dry. Weather for the next crop was very cold in January and into early February and some damage to trees and fruit is possible. Chart trends are mixed to down. The cold and dry Winter weather has created more ideas of some crop losses. Traders are worried about demand even with overall low prices. The weather is considered good for production in Brazil and Mexico. Scattered showers are reported in Brazil.
Overnight News:
Chart Trends: Trends in FCOJ are mixed to down. Support is at 146.00, 136.00, and 124.00 March, with resistance at 184.00, 189.00, and 194.00 Marzo.

COFFEE
General Comments: Both markets closed higher yesterday on a weaker US Dollar and despite good weather for growing and harvesting seen in Brazil and Vietnam. The trends are down in New York and mixed in London on the daily and weekly charts. There are still reports of increasing harvest sales from Vietnam as the new harvest is active. There are reports of very good conditions in Brazil and a large crop is forecast. Scattered showers are being reported now to improve tree condition in Brazil. Mexico is in good condition, as is Central America. Vietnam has scattered showers lately and conditions there are called good. Vietnamese producers are selling new crop Coffee.
Overnight News: The ICO average price is 270.54 ct/lb.
Chart Trends: Trends in New York are mixed to down. Support is at 292.00, 288.00, and 282.00 March, and resistance is at 331.00, 338.00 and 342.00 March. Trends in London are mixed to down. Support is at 3680, 3620, and 3560 March, with resistance at 3880, 3930, and 4010 .

SUGAR
General Comments: New York and London were higher yesterday and trends are mixed on the daily charts. There are good supplies for the market from good growing conditions for cane and beets around the world continue. 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 increase supplies especially for White Sugar while global consumption is expected to remain steady. Indian crops are seeing good finishing weather and production ideas have been increasing.
Overnight
Chart Trends: Trends in New York are mixed. Support is at 1410, 1380, and 1350 March and resistance is at 1510, 1540, and 1560 March. Trends in London are down. Support is at 398.00, 392.00, and 386.00 March, with resistance at 427.00, 432.00, and 437.00 March.

COCOA
General Comments: New York and London closed lower in range trading yesterday. Short term trends are still mixed. A big main crop harvest is anticipated in West Africa and rains have been positive for crops lately. Mostly dry conditions in Ivory Coast’s cocoa-growing regions are reported now. 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. Weak demand has led to a build-up on unsold supplies in both Ivory Coast and Ghana, while the prospect of another global surplus in 2026/27 are real. Cocoa demand has fallen sharply after prices nearly tripled in 2024, prompting chocolate makers to reformulate ingredients and shrink the size of their bars.
Overnight News:
Chart Trends: Trends in New York are mixed to down. Support is at 3840, 3720, and 3600 March, with resistance at 4490, 4970, and 5180 March. Trends in London are mixed to down. Support is at 2720, 2660, and 2600 March, with resistance at 3660, 3780, and 4030 March.

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