Softs Report 04/13/2026

COTTON
General Comments: Cotton was higher last week despite ideas of improving weather for the western Great Plains and desert southwest. The WASDE reports showed no significant changes. 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 73.60, 74.20 and 74.80 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
COTTON NO. 2 – ICE FUTURES U.S.
CFTC Code #033661 Open Interest is 467,100
: Positions :
: 102,627 63,722 133,654 130,118 228,466 78,087 29,238 444,487 455,080: 22,614 12,021
: Changes from: March 31, 2026 (Change in open interest: 11,416) :
: 100 -10,062 9,463 2,413 13,479 -772 -2,557 11,203 10,322: 213 1,094
: 22.0 13.6 28.6 27.9 48.9 16.7 6.3 95.2 97.4: 4.8 2.6
: Total Traders: 386 Number of Traders in Each Category :
: 162 94 133 72 61 39 24 336 255:
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FCOJ
General Comments: Futures were slightly higher last week in response to the USDA reports and on demand reports The reports showed that US production at 61.6 million boxes and Florida production at 12.2 million boxes. 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.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 7, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
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FRZN CONCENTRATED ORANGE JUICE – ICE FUTURES U.S. (CONTRACTS OF 15,000 POUNDS) :
CFTC Code #040701 Open Interest is 9,019 :
: Positions :
: 2,028 5,025 421 16 160 2,495 1,329 61 1,491 160 924 :
: Changes from: March 31, 2026 :
: -49 590 -20 -85 78 -1 -441 -75 151 -60 -66 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.5 55.7 4.7 0.2 1.8 27.7 14.7 0.7 16.5 1.8 10.2 :
: Number of Traders in Each Category Total Traders: 45 :
: 8 9 . . . 6 9 4 9 . 7 :
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COFFEE
General Comments: New York and London were both a little lower 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 265.61 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 3200, 3140, and 3080 May, with resistance at 3410, 3460, and 3550 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
COFFEE C – ICE FUTURES U.S.
CFTC Code #083731 Open Interest is 219,400
: Positions :
: 34,894 19,528 80,743 57,621 98,819 36,620 10,731 209,878 209,820: 9,522 9,579
: Changes from: March 31, 2026 (Change in open interest: 1,833) :
: -280 2,367 967 687 -2,530 533 298 1,906 1,101: -73 732
: Percent of Open Interest Represented by Each Category of Trader :
: 15.9 8.9 36.8 26.3 45.0 16.7 4.9 95.7 95.6: 4.3 4.4
: Total Traders: 354 Number of Traders in Each Category :
: 74 117 134 89 104 38 21 287 298:
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SUGAR
General Comments: New York was a little higher and London was lower last week. The war has increased world petroleum prices and could divert demand from Sugar production to production of ethanol. But some in the market expect less war in the near future. 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 404.00, 398.00, and 392.00 August, with resistance at 438.00, 463.00, and 468.00 August.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SUGAR NO. 11 – ICE FUTURES U.S.
CFTC Code #080732 Open Interest is 1,120,593
: Positions :
: 112,163 218,655 267,264 353,354 491,402 295,639 56,587 1,028,419 1,033,908: 92,173 86,685
: Changes from: March 31, 2026 (Change in open interest: -13,341) :
: -491 6,947 -1,987 3,510 -15,272 -4,046 -5,596 -3,014 -15,908: -10,327 2,566
: Percent of Open Interest Represented by Each Category of Trader :
: 10.0 19.5 23.9 31.5 43.9 26.4 5.0 91.8 92.3: 8.2 7.7
: Total Traders: 277 Number of Traders in Each Category :
: 85 66 87 76 70 38 19 243 199:
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COCOA
General Comments: New York and London closed near unchanged last week. 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.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
COCOA – ICE FUTURES U.S.
CFTC Code #073732 Open Interest is 263,756
: Positions :
: 20,118 54,091 95,979 81,932 87,116 54,345 15,339 252,374 252,526: 11,382 11,230
: Changes from: March 31, 2026 (Change in open interest: 4,439) :
: 1,951 2,577 -695 2,904 312 1,153 613 5,313 2,807: -874 1,632
: Percent of Open Interest Represented by Each Category of Trader :
: 7.6 20.5 36.4 31.1 33.0 20.6 5.8 95.7 95.7: 4.3 4.3
: Total Traders: 228 Number of Traders in Each Category :
: 62 73 92 44 39 32 24 190 183:
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Questions? Ask Jack Scoville today at 312-264-4322