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COTTON
General Comments: Cotton was lower as the US Dollar was stronger and the weekly export sales report showed very strong demand. World leaders met in Davos for the economic forum and the market is waiting for results from the meetings as well as new comments from President Trump about his proposals to take over Greenland against everyone else wishes. Trump has walked back those comments and the crisis has been less for now. The USDA reports released a couple of weeks ago showed less production and unchanged demand. Ending stocks were less.
Chart Trends: Trends in Cotton are mixed. Support is at 63.70, 63.00, and 62.40 March, with resistance of 65.90, 66.40 and 67.20 March.

FCOJ
General Comments: Futures were higher last week on speculative buying as the Florida harvest is active end the weather remain benign. Chart trends are mixed but are turning up again. There is no freeze in the forecast, but areas north of the state have been very cold and more cold weather is possible this weekend. Florida has also been dry and irrigation is needed. Traders are worried about demand even with overall lower prices. The weather is considered good for production in Brazil and Mexico. Scattered showers are reported in Brazil.
Chart Trends: Trends in FCOJ are mixed. Support is at 184.00, 174.00, and 168.00 March, with resistance at 226.00, 230.00, and 240.00 March.

COFFEE
General Comments: New York was a little lower and London closed higher last week, and trends are mixed in both markets. President Trump raised the threat of new tariffs on the EU in response to his need to own Greenland against EU and Greenland wishes but has since dismissed that idea. There are still ideas and reports of increasing harvest sales from Vietnam. There are reports of very good conditions in Brazil. Most farmers are holding for better prices. 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. Vietnamese producers are selling new crop Coffee.
Overnight News: The ICO average price is 294.32 ct/lb.
Chart Trends: Trends in New York are mixed. Support is at 342.00, 339.00, and 335.00 March, and resistance is at 363.00, 372.00 and 383.00 March. Trends in London are up. Support is at 3860, 3730, and 3670 March, with resistance at 4270, 4390, and 4510 .

SUGAR
General Comments: New York and London were lower in range trading last week. World leaders were in Davos for the economic forum and the market is waiting for results from the meetings as well as new comments from President Trump about his proposals to take over Greenland against everyone else wishes. The president has since taken those comments back. There are good supplies for the market from good growing conditions for cane and beets around the world continue. The prospect of a big global surplus in the 2025/26 season was keeping the market on the defensive with a rise in production in India and Thailand set to increase supplies while global consumption is expected to remain steady.
Chart Trends: Trends in New York are mixed. Support is at 1440, 1410, and 1380 March and resistance is at 1510, 1540, and 1560 March. Trends in London are mixed. Support is at 415.00, 410.00, and 404.00 March, with resistance at 431.00, 437.00, and 445.00 March.

COCOA
General Comments: New York and London closed lower last week. Chart trends are down. World leaders were in Davos for the economic forum and the market is waiting for results from the meetings as well as new comments from President Trump about his proposals to take over Greenland against everyone else wishes. The president has pulled back from that idea for now. A big main crop harvest is anticipated in West Africa and rains have been positive for crops lately. Mostly dry conditions in Ivory Coast’s cocoa-growing regions are reported now. 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 and the lack of demand is expected to continue.
Chart Trends: Trends in New York are down. Support is at 3960, 3840, and 3720 March, with resistance at 5300, 5560, and 5790 March. Trends in London are down. Support is at 3930, 2800, and 2680 March, with resistance at 3660, 3780, and 4030 March.

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