Softs Report 09/14/2026

COTTON
General Comments: Cotton was lower Friday in response to the USDA reports. USDA cut yield and harvested area for production of 13.2 billion bales. Domestic demand was trimmed but exports were unchanged and ending stocks were estimated at 369 million bales from 400 million last month. Stressful weather conditions continue. USDA this week showed that conditions are now . Progress is about average with the crop now 7% harvested. 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.
Overnight News
Chart Trends: Trends in Cotton are mixed. Support is at 85.20, 82.60, and 82.00 December, with resistance of 94.20, 95.40 and 96.60 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 08, 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 531,944
: Positions :
: 116,295 28,388 168,050 125,072 300,955 101,811 25,053 511,229 522,446: 20,716 9,498
: Changes from: September 1, 2026 (Change in open interest: -11,156) :
: -13,119 -403 3,291 628 -8,583 -613 -4,751 -9,813 -10,446: -1,343 -710
: Percent of Open Interest Represented by Each Category of Trader :
: 21.9 5.3 31.6 23.5 56.6 19.1 4.7 96.1 98.2: 3.9 1.8
: Total Traders: 376 Number of Traders in Each Category :
: 179 48 131 71 82 46 21 332 254:
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FCOJ
General Comments: Futures were a little higher last week. USDA on Friday showed US oranges production at 58.250 million boxes and Florida production at 12.200 million boxes. Showers are showing up in Florida and trees are recovering. The weather for the next crop is seasonal. The weather is considered good for production in Mexico and showers are developing in Brazil.
Overnight News: ICE said that 0 notices were posted for delivery against September contracts and that total deliveries fort the month are now 0 contracts.
Chart Trends: Trends in FCOJ are mixed. Support is at 128.00, 125.00, and 122.00 September, with resistance at 159,00 167.00, and 174.00 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 8, 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 10,593 :
: Positions :
: 1,900 3,176 863 73 193 2,589 3,798 73 1,929 340 1,178 :
: Changes from: September 1, 2026 :
: -72 110 -36 -52 15 -49 -325 -4 -1 -133 23 :
: Percent of Open Interest Represented by Each Category of Trader :
: 17.9 30.0 8.1 0.7 1.8 24.4 35.9 0.7 18.2 3.2 11.1 :
: Number of Traders in Each Category Total Traders: 56 :
: 9 7 . . . 7 13 . 13 7 7 :
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COFFEE
General Comments: New York was lower and London was higher last week Trends are down in New York but are turning up in London. Brazil coffee is being offered now in increasing quantities as harvest is almost over despite increased rains. The next crop is developing in the rest of South America amid scattered to isolated showers. Indonesia is now about done with its harvest. 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 265.31 ct/lb. ICE NY said that 4 notices were posted for delivery against September futures and that total deliveries for the month are now 216 contracts
Chart Trends: Trends in New York are mixed to down. Support is at 284.00, 270.00, and 264.00 December, and resistance is at 317.00, 322.00 and 329.00 December. Trends in London are mixed to down. Support is at 3200, 3140, and 3080 November, with resistance at 3610, 3690, and 3770 November.

COT — Supplemental Report – Option and Futures Combined Positions as of September 08, 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 200,578
: Positions :
: 24,543 23,780 71,397 55,216 93,166 41,575 6,080 192,731 194,423: 7,847 6,155
: Changes from: September 1, 2026 (Change in open interest: -313) :
: -3,056 3,327 -830 3,566 -3,531 290 450 -30 -585: -283 271
: Percent of Open Interest Represented by Each Category of Trader :
: 12.2 11.9 35.6 27.5 46.4 20.7 3.0 96.1 96.9: 3.9 3.1
: Total Traders: 345 Number of Traders in Each Category :
: 68 106 107 97 106 40 20 279 273:
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SUGAR
General Comments: New York was higher and London was about unchanged last week. Trends are mixed on the daily charts in both markets. Drought in Europe and Brail are a major concern but seems to be easing now with the crop mostly made in Europe. The hot and dry weather was causing losses in Sugar beets production. There have been some rains in center-south Brazil causing some harvest delays. Indian production is less after hot and dry conditions and production in the rest of Asia could be hurt by El Nino weather. Higher world petroleum prices are supporting higher ethanol prices and could cause less Sugar to be produced.
Overnight News:
Chart Trends: Trends in New York are mixed. Support is at 1750, 1720, and 1700 March and resistance is 1960, 2020, and 2080 March. Trends in London are mixed. Support is at 513.00, 506.00, and 499.00 December, with resistance at 554.00, 566.00, and 572.00 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 08, 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 1,658,497
: Positions :
: 270,906 164,790 500,208 372,530 854,852 398,054 76,282 1,541,697 1,596,132: 116,800 62,365
: Changes from: September 1, 2026 (Change in open interest: -14,543) :
: -8,502 -42,178 -14,335 12,170 43,405 -5,519 -8,699 -16,186 -21,807: 1,642 7,264
: Percent of Open Interest Represented by Each Category of Trader :
: 16.3 9.9 30.2 22.5 51.5 24.0 4.6 93.0 96.2: 7.0 3.8
: Total Traders: 310 Number of Traders in Each Category :
: 114 57 108 80 81 40 19 283 221:
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COCOA
General Comments: New York and London were a little lower last week and made new lows for the move. Daily chart trends and weekly trends are turning down. 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: ICE NY said that 0 notices were posted for delivery against September futures and that total deliveries for the month are now 637 contracts.
Chart Trends: Trends in New York are mixed. Support is at 5720, 5600, and 5500 December, with resistance at 6840, 6900, and 6960 September. Trends in London are mixed. Support is at 4120, 4040, and 3820 December, with resistance at 4920, 5040, and 5160 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 08, 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 239,937
: Positions :
: 16,259 34,628 82,614 78,742 92,880 50,529 21,498 228,144 231,620: 11,793 8,317
: Changes from: September 1, 2026 (Change in open interest: -13,559) :
: -1,795 2,836 -11,578 1,383 -5,279 -1,296 -403 -13,286 -14,423: -272 865
: Percent of Open Interest Represented by Each Category of Trader :
: 6.8 14.4 34.4 32.8 38.7 21.1 9.0 95.1 96.5: 4.9 3.5
: Total Traders: 215 Number of Traders in Each Category :
: 61 63 87 43 40 29 17 182 167:
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Questions? Ask Jack Scoville today at 312-264-4322