Softs Report 06/16/2026

COTTON
General Comments: Cotton was higher yesterday despite ideas of good weather for Cotton growing areas of the US. The WASDE report on TShursday showed reduced beginning and ending stocks with the rest of the supply and demand data left unchanged. Ending stocks are now estimated at 3.70 million bales. USDA showed that squaring and emergence were running at near or above normal last week and the condition showed moves from poor and good to fair. USDA showed that condition is still well behind year ago levels. Forecasts and reports of scattered showers in Cotton areas continue for Texas, the Delts, and the Southeast. Temperatures will be variable. Trends are down on the daily and weekly charts.
Overnight News:
Chart Trends: Trends in Cotton are mixed. Support is at 71.00, 70.40, and 70.00 July, with resistance of 76.00, 78.30 and 79.10 July.

FCOJ
General Comments: Futures were lower and trends are still mixed on the daily and weekly charts. It is still dry in Florida. The weather for the next crop is dry but seasonal and some rains are now being reported. The weather is considered good for production in Mexico but it is dry in Brazil. Scattered showers are still reported in eastern Brazil but many areas are drying out seasonally.
Overnight News:
Chart Trends: Trends in FCOJ are mixed to down. Support is at 148.00, 142.00, and 136.00 July, with resistance at 178,00 184.00, and 190.00 July

COFFEE
General Comments: New York and London were higher again yesterday on harvest delays in both Brazil and Vietnam. The next crop is developing well in South America and Asia amid good conditions. The harvest in Brazil is a little behind last year. World production conditions are generally good. Mostly dry conditions are being reported now in Brazil. Mexico is in good condition, as Central America. Vietnam has had some showers.
Overnight News: The ICO average price is 241.31 ct/lb.
Chart Trends: Trends in New York are mixed to up. Support is at 242.00, 236.00, and 230.00 July, and resistance is at 271.00, 387.00 and 297.00 July. Trends in London are mixed to up. Support is at 3250, 3180, and 3120 July, with resistance at 3650, 3680, and 3730 July.

SUGAR
General Comments: Both markets were lower yesterday. The Iran war may have stopped as both sides are ready to sign a memorandum of understanding this week in Geneva. Trends are mixed or down 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. Drier weather in parts of Brazil and India have been good for the harvest.
Overnight News:
Chart Trends: Trends in New York are mixed to down. Support is at 1370, 1340, and 1310 July and resistance is 1550, 1570, and 1600 July. Trends in London are mixed to down. Support is at 404.00, 398.00, and 392.00 August, with resistance at 457.00, 468.00, and 474.00

COCOA
General Comments: Both markets were higher yesterday. Daily trends are mixed to down in both markets, with New York showing the weaker chart pattern. 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.
Overnight News:
Chart Trends: Trends in New York are mixed to down. Support is at 3830, 3650, and 3490 July, with resistance at 4460, 4780, and 5130 July. Trends in London are mixed to down. Support is at 2750, 2710, and 2500 July, with resistance at 3350, 3550, and 3690 July.

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