Softs Report 04/09/2026

COTTON
General Comments: Cotton was a little lower yesterday on ideas of improving weather for the western Great Plains and desert southwest.
Higher petroleum futures are raising costs on shipping and inputs and the costs of polyesters that compete with Cotton in clothing. The war with Iran continues but is not going well or getting better for the US and the weather remains s problem for producers. The market is worried about the weather that remains hot and dry in US Cotton areas, mostly from Texas to the west, but forecasts are now calling for some showers in the region. 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 mixed to down on the daily charts.
Overnight News:
Chart Trends: Trends in Cotton are mixed to down. Support is at 69.20, 66.40, and 65.00 May, with resistance of 72.40, 73.00 and 73.60 May.

DJ U.S. Export Sales: Weekly Sales Totals-Apr 9
For the week ended Apr 2, in thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total commitments are total export shipments plus total sales. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
upland cotton 319.6 14.1 10247.5 10438.1 3844.6 1148.4
pima cotton 6.5 0.0 363.5 382.8 111.8 0.5

FCOJ
General Comments: Futures were higher yesterday Trends are turning up on the daily charts. The Florida harvest is about over and isolated showers are now being reported. The weather for the next crop is dry but seasonal and some rains are starting to appear. Chart trends are mixed on the daily charts. The weather is considered good for production in Brazil and Mexico. Scattered showers are still reported in Brazil.
Overnight News:
Chart Trends: Trends in FCOJ are mixed to up. Support is at 187.00, 181.00, and 174.00 May, with resistance at 212,00 221.00, and 226.00 May.

COFFEE
General Comments: New York and London were both higher yesterday. There are still ideas of good supplies available on the farm, but getting Coffee from the farm to the market is another problem due to the war with Iran. Brazil said exports might not improve that much in March due to shipping costs and concerns. 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. World production conditions are generally good. 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 264.58 ct/lb.
Chart Trends: Trends in New York are mixed. Support is at 282.00, 276.00, and 270.00 May, and resistance is at 312.00, 319.00 and 325.00 May. Trends in London are mixed to down. Support is at 3270, 3200, and 3140 May, with resistance at 3410, 3460, and 3550 May.

SUGAR
General Comments: New York and London were lower. The war has increased world petroleum prices and could divert demand from Sugar production to production of ethanol. India, the world’s second-largest producer, had no plans to curb sugar exports to provide downward pressure on prices. Trends are mixed on the daily charts in both markets. 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
Overnight News:
Chart Trends: Trends in New York are mixed to down. Support is at 1370, 1310, and 1260 July and resistance is 1540, 1570, and 1630 July. Trends in London are down. Support is at 421.00, 404.00, and 398.00 August, with resistance at 438.00, 463.00, and 468.00 August.

COCOA
General Comments: New York and London closed higher yesterday. 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. Cocoa arrivals at ports in top grower Ivory Coast since the start of the season on October 1 reached 1.445 million tons by April 5, up 0.2% from the same period last season,
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 2950, 2880, and 2820 May, with resistance at 3380, 3480, and 3390 May. Trends in London are down. Support is at 2320, 2130, and 2020 May, with resistance at 2520, 2770, and 3150 May.

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