Softs Report 08/03/2026

COTTON
General Comments: Cotton was higher last week on IS production concerns. New crop export sales were strong. USDA showed that conditions are still well behind year ago levels and showed deterioration with the crop in the squaring and setting bolls phase. Progress is about average, with bolls being set and squaring proceeding at a normal pace. Forecasts and reports of scattered to isolated showers in Cotton areas continue for the Delts, and the Southeast. Temperatures will be warm to hot. Trends are mixed on the daily and are up the weekly charts.
Overnight News:
Chart Trends: Trends in Cotton are mixed. Support is at 77.10, 75.50, and 74.50 December, with resistance of 82.90, 84.20 and 86.20 December.

COT — Supplemental Report – Option and Futures Combined Positions as of July 28, 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 455,225
: Positions :
: 103,937 33,395 127,819 119,790 258,365 86,814 26,279 438,360 445,858: 16,865 9,367
: Changes from: July 21, 2026 (Change in open interest: 7,189) :
: -2,735 -440 6,346 2,652 975 1,241 -160 7,503 6,721: -313 469
: Percent of Open Interest Represented by Each Category of Trader :
: 22.8 7.3 28.1 26.3 56.8 19.1 5.8 96.3 97.9: 3.7 2.1
: Total Traders: 364 Number of Traders in Each Category :
: 160 66 116 76 70 43 18 319 232:
——————————————————————————————————————-

FCOJ
General Comments: Futures were higher last week and trends are ip on the daily charts but could be topping out for the short term. 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 rp. Support is at 144.00, 140.00, and 135.00 September, with resistance at 167,00 174.00, and 176.00 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 28, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
FRZN CONCENTRATED ORANGE JUICE – ICE FUTURES U.S. (CONTRACTS OF 15,000 POUNDS) :
CFTC Code #040701 Open Interest is 11,146 :
: Positions :
: 2,451 2,863 802 205 92 2,178 3,759 249 1,868 568 1,365 :
: Changes from: July 21, 2026 :
: 1 -113 5 4 -37 62 327 -1 80 -19 116 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.0 25.7 7.2 1.8 0.8 19.5 33.7 2.2 16.8 5.1 12.2 :
: Number of Traders in Each Category Total Traders: 56 :
: 9 6 . . . 9 14 4 10 8 8 :
—————————————————————————————————————-

COFFEE
General Comments: New York was higher and London was lower last week and trends are mixed on the daily charts. The harvest delays in Brazil continue but coffee is more and more available. The next crop is developing well in South America amid scattered to isolated showers. Brazil has been hot and dry Indonesia is now about 80% harvested. Asian conditions are called good. Other world production conditions are generally good. Mexico is in good condition, but Central America is dry. Cooxupe showed increased sales in Brazil last week at 58.3% of the crop. Deliverable stocks are below 300,000 bags and are well below Lat year.
Overnight News: The ICO average price is 285.48 ct/lb.
Chart Trends: Trends in New York are mixed. Support is at 300.00, 285.00, and 279.00 September, and resistance is at 372.00, 384.00 and 396.00 September. Trends in London are mixed. Support is at 3680, 3620, and 3560 September, with resistance at 4120, 4180, and 4240 September.

COT — Supplemental Report – Option and Futures Combined Positions as of July 28, 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 225,341
: Positions :
: 30,183 17,843 95,585 51,237 99,667 41,040 6,171 218,045 219,266: 7,297 6,076
: Changes from: July 21, 2026 (Change in open interest: 4,661) :
: 109 -1,648 5,016 -1,345 339 1,199 761 4,979 4,469: -318 192
: Percent of Open Interest Represented by Each Category of Trader :
: 13.4 7.9 42.4 22.7 44.2 18.2 2.7 96.8 97.3: 3.2 2.7
: Total Traders: 357 Number of Traders in Each Category :
: 93 91 110 103 121 41 19 296 287:
——————————————————————————————————————-

SUGAR
General Comments: New York was a little lower and London was a little higher lasr week. The Iran war made bio fuels less valuable again, and Sugar has been slow to respond to rallies in petroleum products anyway. Drought in Europe and Brail are a major concern. The hot and dry weather is threatening Sugarbeets production. There have been some rains in center-south Brazil causing some harvest delas, but generally dry weather is now forecast. The Iran war has been paused as both sides signing a memorandum of understanding and continuing negotiations in Geneva. 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. Drier weather in parts of Brazil and India has been good for the harvest.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 1440, 1410, and 1380 October and resistance is 1560, 1590, and 1620 October. Trends in London are mixed. Support is at 448.00, 443.00, and 436.00 October, with resistance at 490.00, 496.00, and 502.00 October.

COT — Supplemental Report – Option and Futures Combined Positions as of July 28, 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 1,203,654
: Positions :
: 181,595 306,498 261,747 363,301 462,579 315,161 96,202 1,121,804 1,127,026: 81,850 76,628
: Changes from: July 21, 2026 (Change in open interest: 10,935) :
: -1,175 30,509 -2,000 18,246 -16,761 -3,582 -1,183 11,488 10,564: -553 371
: Percent of Open Interest Represented by Each Category of Trader :
: 15.1 25.5 21.7 30.2 38.4 26.2 8.0 93.2 93.6: 6.8 6.4
: Total Traders: 302 Number of Traders in Each Category :
: 93 80 108 71 68 41 19 260 224:
——————————————————————————————————————-

COCOA
General Comments: New York and London were higher last week. Daily chart trends are mixed but turning up and weekly trends are mixed. 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 but demand has started to increase. Ghana’s cocoa production is expected to fall by at Ghana’s cocoa production is expected to fall by at least 16% in the 2026 to 2027 season, market regulator COCOBOD said, citing weather effects, the crop’s natural fruit-bearing cycle and disease,
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 4860, 4670, and 4510 September, with resistance at 6240, 6300, and 6360 September. Trends in London are mixed. Support is at 3800, 3660, and 3540 September, with resistance at 4650, 4710, and 4770 September.

COT — Supplemental Report – Option and Futures Combined Positions as of July 28, 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 262,836
: Positions :
: 17,219 35,733 99,502 85,623 97,970 50,157 20,509 252,501 253,714: 10,334 9,122
: Changes from: July 21, 2026 (Change in open interest: -6,419) :
: -1,209 493 -4,607 -160 -3,630 -184 883 -6,160 -6,862: -259 442
: Percent of Open Interest Represented by Each Category of Trader :
: 6.6 13.6 37.9 32.6 37.3 19.1 7.8 96.1 96.5: 3.9 3.5
: Total Traders: 204 Number of Traders in Each Category :
: 50 70 88 40 37 29 20 175 165:
——————————————————————————————————————-

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