COTTON
General Comments: Futures were generally a little higher in range trading. Trends are mixed on the daily and weekly charts, but the weekly charts show an upside bias. Cotton growing conditions have improved in the last couple of weeks with rains reported in West Texas and the Delta. West Texas and the Delta are expected to dry down a bit this week. Some scattered showers are in the forecast in the Southeast. Production ideas are being impacted in just about all areas due to the weather extremes, but for now conditions are not that bad anywhere.
Overnight News: The Delta will get scattered showers and near-normal temperatures and the Southeast will get scattered showers and near to below normal temperatures. Texas will have mostly dry conditions and near to above normal temperatures. The USDA average price is now 82.45 ct/lb. ICE said that certified stocks are now 165,925 bales, from 166,187 bales yesterday.
Chart Trends: Trends in Cotton are mixed. Support is at 8360, 8310, and 8180 July, with resistance of 8590, 8660, and 8740 July.

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FCOJ
General Comments: FCOJ closed a little higher again and chart trends are still mixed on the daily charts. The hurricane season is here and a big storm could threaten trees and fruit. The only storm has moved through the southeast but too far north to affect the state of Florida. An active season is anticipated but that does not mean a big and damaging storm is coming. It does mean that the market will be on alert if one does show up. Brazil is reported to be in good condition. Mexican crop conditions in central and southern areas are called good with rains, but earlier dry weather might have hurt production. It is dry in northern and western Mexican growing areas but there is some potential for some rains soon.
Overnight News: Florida should get scattered showers. Temperatures will average near normal. Brazil should get mostly dry conditions or isolated showers and above normal temperatures.
Chart Trends: Trends in FCOJ are mixed. Support is at 115.00, 113.00, and 112.00 July, with resistance at 120.00, 122.00, and 126.00 July.

COFFEE
General Comments: Both markets were lower in range trading and there is not much going on right now. Trends on the daily and weekly charts are now sideways. It looks like demand is moderate for Robusta these days, and the offers are starting to increase as the Arabica harvest is expanding in Brazil. Drier conditions are in the forecast for these areas this week. Good conditions are reported in northern South America and good conditions reported in Central America. Colombia is having trouble exporting Coffee right now due to protests inside the country. Conditions are reported to be generally good in Asia and Africa.
Overnight News: ICE-certified stocks are higher today at 2.168 million bags. The ICO daily average price is now 138.01 ct/lb. Brazil will get mostly dry conditions or isolated showers with near to above normal temperatures. Central America will get scattered showers. Vietnam will see scattered showers. ICE said that 2 contracts were posted for delivery today against NY July futures and that total deliveries for the month are now 101 contracts.
Chart Trends: Trends in New York are mixed. Support is at 149.00, 146.00, and 142.00 September, and resistance is at 155.00, 158.00, and 159.00 September. Trends in London are mixed. Support is at 1580, 1540, and 1510 September, and resistance is at 1640, 1650, and 1670 September.

SUGAR
General Comments: New York was lower in range trading and London was down with a new downtrend developing. London has been the leader to the downside on ample supplies of White Sugar available to the market and forecasts for improved growing conditions in Brazil. The weekly charts show downtrends in both markets. There is plenty of White Sugar available in India for the market and monsoon rains are promoting good conditions for the next crop. Southern growing areas of Brazil are getting some beneficial showers, with Parana and parts of Sao Paulo getting the best rains. Thailand is expecting improved production. Ethanol demand is returning to the market as more world economies open up after the pandemic.
Overnight News: Brazil will get mostly dry conditions or isolated showers. Temperatures should average near to above normal.
Chart Trends: Trends in New York are mixed. Support is at 1670, 1640, and 1610 October, and resistance is at 1760, 1790, and 1810 October. Trends in London are down with objectives of 404.00 and 402.00 August. Support is at 416.00, 413.00, and 410.00 August, and resistance is at 428.00, 435.00, and 440.00 August.

COCOA
General Comments: Both markets were a little higher in range trading. The daily charts show sideways trends in both markets. The harvests are over in West Africa and ports there have been filled with Cocoa. The weather has had above-average rains in West Africa. European demand has been slow. Asian demand is improved. North American is improved. The supplies are there for any increased demand.
Overnight News: Isolated showers are forecast for West Africa. Temperatures will be near to above normal. Malaysia and Indonesia should see showers. Temperatures should average above normal. Brazil will get mostly dry conditions and near to above normal temperatures. ICE-certified stocks are slightly lower today at 5.767 million bags. ICE said that 27 contracts were posted for July delivery and that total deliveries for the month are now 229 contracts.
Chart Trends: Trends in New York are mixed. Support is at 2350, 2330, and 2300 September, with resistance at 2410, 2450, and 2480 September. Trends in London are mixed. Support is at 1610, 1600, and 1590 September, with resistance at 1640, 1650, and 1670 September.