Cotton (CTY00, Cash Index): The Index extended its major (long-term) uptrend to a high of 87.95 during August before closing at that price, up 11.2 cents (14.6%) for the month. Theoretical Positions: Long-term investors could’ve bought (futures, ETFs) near the February settlement of 63.61 cents based on the bullish key reversal.
Coffee (KCY00, Cash Index): The Index consolidated during August before closing at 383.27, up 10.36 (2.8%) for the month. The Index completed a bullish key reversal during June, confirming the move to a major uptrend signaled by monthly stochastics establishing a bullish crossover below the oversold level of 20% at the end of April. Theoretical Positions: Long-term investors short the market from the September 2025 monthly settlement of 387.99 would’ve covered those positions and gone long at the June settlement of 342.21.
Cocoa (CCY00, Cash Index): The Index extended its major uptrend to a high of $6,600 before closing August at that same price, up $1,394 (26.8%) for the month. Theoretical Positions: Long-term investors who were short the market (futures, ETFs, etc.) may have covered these positions near the March settlement of 3,130 and gone long at that same price.
Sugar (SBY00, Cash Index): The index extended its major uptrend to a high of 18.22 before closing August at 17.79, up 22.2% for the month. The uptrend is based on a double bottom pattern between the April 2026 low of 13.42 and June low of 13.36, the latter part of a bullish spike reversal. Theoretical Positions: Long-term investors could be long from near the March settlement of 15.54 and/or June settlement of 14.80. If both, the average long position would be 15.17.
Orange Juice (OJY00, Cash Index): The index extended its major downtrend to a low of 116.50 before closing August at that price, down 19.80 (14.5%) for the month. Theoretical Positions: Long-term investors are likely on the sidelines.
