Softs Report 08/24/2026

COTTON
General Comments: Cotton was a little higher last week as stressful weather conditions continue. USDA trimmed production to 13.61 million bales. Ending stocks were estimated at 3.0 million bales. USDA showed that conditions are still well behind year ago levels with the crop opening bolls. Progress is slipping behind average. Forecasts and reports of scattered to isolated showers in Cotton areas continue for the Delts, and the Southeast. Temperatures will be warm to hot in all areas. Trends are mixed on the daily and are up the weekly charts.
Overnight News
Chart Trends: Trends in Cotton are mixed. Support is at 88.10, 86.20, and 85.30 December, with resistance of 91.60, 92.20 and 92.80 December.

COT — Supplemental Report – Option and Futures Combined Positions as of August 18, 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 511,090
: Positions :
: 119,906 34,340 147,934 125,036 291,272 96,916 28,763 489,792 502,309: 21,298 8,781
: Changes from: August 11, 2026 (Change in open interest: 12,191) :
: 3,828 -380 1,014 1,325 8,956 4,290 2,240 10,456 11,830: 1,734 361
: Percent of Open Interest Represented by Each Category of Trader :
: 23.5 6.7 28.9 24.5 57.0 19.0 5.6 95.8 98.3: 4.2 1.7
: Total Traders: 382 Number of Traders in Each Category :
: 177 61 118 74 76 44 21 329 247:
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FCOJ
General Comments: Futures were higher last week and trends are mixed on the daily charts but could be turning up. The weekly charts are mixed to up. It is still dry in Florida but showers are showing up. 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 southern Brazil but many areas are drying out seasonally.
Overnight News:
Chart Trends: Trends in FCOJ are mixed. Support is at 143.40, 140.00, and 137.00 September, with resistance at 159,00 167.00, and 174.00 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 18, 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 10,946 :
: Positions :
: 2,229 3,339 842 76 172 2,324 3,994 30 1,919 299 1,216 :
: Changes from: August 11, 2026 :
: -174 -115 -11 -103 98 -6 238 -156 -63 91 -165 :
: Percent of Open Interest Represented by Each Category of Trader :
: 20.4 30.5 7.7 0.7 1.6 21.2 36.5 0.3 17.5 2.7 11.1 :
: Number of Traders in Each Category Total Traders: 55 :
: 11 6 . . . 8 13 . 12 6 8 :
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COFFEE
General Comments: New York closed higher and London was lower last week and trends are still up on the New York daily charts but are turning down in London. Brazil coffee is more and more available as farmers are rewarding the rally with sales. Lower quality coffee is available but higher quality is hard to find due to weather problems. The next crop is developing in South America amid scattered to isolated showers. Brazil has been hot. 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.
Overnight News: The ICO average price is 289.17 c19lb. ICE NY said that 26 notices were posted for delivery against September futures and that total deliveries for the month are now 151 contracts.
Chart Trends: Trends in New York are up. Support is at 341.00, 329.00, and12518.00 September, and resistance is at 370.00, 376.00 and 382.00 September. Trends in London are mixed. Support is at 3560, 3490, and 3420 September, with resistance at 3770, 3930, and 4130 September.

COT — Supplemental Report – Option and Futures Combined Positions as of August 18, 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 202,264
: Positions :
: 31,653 16,609 73,087 49,532 101,009 39,390 5,276 193,662 195,982: 8,601 6,282
: :
: Changes from: August 11, 2026 (Change in open interest: -31,816) :
: 2,860 -540 -23,763 -9,577 -5,656 -1,140 -1,417 -31,620 -31,377: -196 -439
: Percent of Open Interest Represented by Each Category of Trader :
: 15.6 8.2 36.1 24.5 49.9 19.5 2.6 95.7 96.9: 4.3 3.1
: Total Traders: 350 Number of Traders in Each Category :
: 97 80 110 99 114 40 13 292 269:
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SUGAR
General Comments: New York and London were higher last week and trends are up on the daily and weekly charts. 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 causing losses in Sugar beets production. There have been some rains in center-south Brazil causing some harvest delas, but generally dry weather is now forecast. Indian production is also less after hot and dry conditions and production in the rest of Asia could be hurt by El Nino weather.
Overnight News:
Chart Trends: Trends in New York are up. Support is at 1730, 1710, and 1680 October and resistance is 1840, 1870, and 1900 October. Trends in London are up. Support is at 544.00, 535.00, and 518.00 October, with resistance at 572.00, 578.00, and 584.00 October.

COT — Supplemental Report – Option and Futures Combined Positions as of August 18, 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 1,518,674
: Positions :
: 241,485 211,421 427,007 367,189 731,131 371,859 85,654 1,407,541 1,455,214: 111,133 63,460
: Changes from: August 11, 2026 (Change in open interest: 93,872) :
: 1,765 -35,279 59,059 13,344 88,390 10,922 -11,444 85,090 100,727: 8,782 -6,855
: Percent of Open Interest Represented by Each Category of Trader :
: 15.9 13.9 28.1 24.2 48.1 24.5 5.6 92.7 95.8: 7.3 4.2
: Total Traders: 312 Number of Traders in Each Category :
: 115 63 112 73 75 42 21 281 226:
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COCOA
General Comments: New York was higher and London was lower last week as reports that farmers are waiting so see the crop sizes before selling continue. Daily chart trends are mixed 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.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 5430, 5220, and 4990 September, with resistance at 6220, 6480, and 6600 September. Trends in London are mixed. Support is at 4000, 3660, and 3540 September, with resistance at 4570, 4820, and 4940 September.

COT — Supplemental Report – Option and Futures Combined Positions as of August 18, 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 229,991
: Positions :
: 13,882 33,310 78,557 78,210 91,456 48,759 19,423 219,408 222,746: 10,583 7,245
: Changes from: August 11, 2026 (Change in open interest: -28,281) :
: -1,848 -308 -19,759 -6,060 -6,214 208 -189 -27,459 -26,469: -823 -1,812
: Percent of Open Interest Represented by Each Category of Trader :
: 6.0 14.5 34.2 34.0 39.8 21.2 8.4 95.4 96.8: 4.6 3.2
: Total Traders: 205 Number of Traders in Each Category :
: 54 67 85 40 36 30 20 175 162:
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Questions? Ask Jack Scoville today at 312-264-4322