Softs Report 03/10/2026

COTTON
General Comments: Cotton was higher on speculative buying as he war with Iran continues that could curb export demand for US Cotton as much of the demand comes from the Middle East. Overseas production in places like India and Brazil are expected to be high, but overall world production is expected by USDA to fall on reduced global planted rea and reduced yields. Trends are turning mixed on the daily charts.
Overnight News: ICE said that 0 notices were posted for delivery against March futures and that total deliveries for the month are now 630 contracts.
Chart Trends: Trends in Cotton are mixed. Support is at 63.40, 62.00, and 60.80 May, with resistance of 6.80, 66.40 and 66.80 May.

FCOJ
General Comments: Futures were higher yesterday on speculative buying. The Florida harvest is active but starting to wrap up and the weather remains benign for harvest progress as conditions are mostly dry. The weather for the next crop is dry but seasonal. Chart trends are mixed or up on the daily charts. The weather is considered good for production in Brazil and Mexico. Scattered showers are still reported in Brazil.
Overnight News: ICE said that 0 notices were posted for delivery against March futures and that total deliveries for the month are now 0 contracts.
Chart Trends: Trends in FCOJ are down. Support is at 160.00, 153.00, and 1\46.00 May, with resistance at 193.00, 200.00, and 207.00 May.

COFFEE
General Comments: New York was higher and London was mostly lower yesterday and the markets might have completed a short term bottom on the daily charts last week even as good weather for growing and harvesting continues to be seen in Brazil and Vietnam. Production ideas are high in both countries. Vietnam producers have pulled back from selling as they have already sold quite a bit. There are reports of very good conditions in Brazil and a large crop is forecast. Brazil producers have stopped selling due to the recent fall in prices. 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.
Overnight News: The ICO average price is 278.77 ct/lb. ICE NY said that 11 notices were posted for delivery against March futures and that total deliveries for the month are now 900 contracts.
Chart Trends: Trends in New York are mixed to up. Support is at 276.00, 270.00, and 264.00 May, and resistance is at 396.00, 315.00 and 325.00 May. Trends in London are mixed to up. Support is at 3520, 3460, and 3400 May, with resistance at 3890, 3950, and 4130 May.

SUGAR
General Comments: New York and London were both higher yesterday on reports that the Iran war has raised prices for petroleum and could increase demand for biofuels at the expense of Sugar production. Trends are up on the daily charts. Weekly London charts show the potential for a bottom formation. There are good supplies for the market from good growing conditions for cane and beets around the world. The prospect of a big global surplus in the 2025/26 season was keeping the market on the defensive but a rise in production in India and Thailand being offset by the war in 2irkd markets for White Sugar while global consumption is expected to remain steady.
Overnight News:
Chart Trends: Trends in New York are up. Support is at 1360, 1340, and 1310 May and resistance is at 1470, 1480, and 1490 May. Trends in London are up. Support is at 402.00, 395.00, and 388.00 May, with resistance at 426.00, 428.00, and 430.00 May.

COCOA
General Comments: New York and London closed higher yesterday along with most commodities markets. Short term trends are mixed in both markets. A big main crop harvest has arrived in West Africa and rains have been positive for the next 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 due to the high prices seen last year 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: ICE NY said that 0 notices were posted for delivery against March futures and that total deliveries for the month are now 741 contracts.
Chart Trends: Trends in New York are mixed. Support is at 2740, 2620, and 2500 May, with resistance at 3330, 3860, and 4330 May. Trends in London are down. Support is at 2000, 1940, and 1880 May, with resistance at 2390, 2670, and 2970 May.

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