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Cocoa #7 May '24 (CAK24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Post Modest Gains as Global Supplies Remain Tight

July ICE NY cocoa (CCN24) on Wednesday closed up +24 (+0.28%), and July ICE London cocoa #7 (CAN24) closed up +6 (+0.08%).

Cocoa prices posted modest gains on Wednesday as a global cocoa shortfall persists.  Extreme volatility in cocoa prices has gripped the market since prices soared to an all-time high last month.  The recent volatility in cocoa prices has made it more expensive to maintain positions in cocoa futures as margins have sharply increased, prompting traders to close out trades, which drains liquidity and makes the market more vulnerable to large price swings.  

Trading conditions in cocoa have become illiquid as open interest in NY cocoa futures continues to decline.  Last Friday's weekly Commitment of Traders (COT) report showed that total long-only positions in cocoa futures sank to the lowest in over three years in the week ending April 23, and short-only positions fell to the lowest in over seven years.

Cocoa prices have seen an extraordinary rall... Read more

Contract Specifications

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Contract
Cocoa #7
Contract Size
10 metric tonnes
Tick Size
GBP 1 per metric tonne (GBP 10.00 per contract)
Trading Hours
9:30a.m. - 4:50p.m. GMT
Exchange
ICE/EU
Point Value
GBP 10
Expiration Date
05/15/24 (7 days)

Seasonal Chart

Cocoa #7 May '24
Average Price Chart for 5 Prior May Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
6,619 +19.79%
on 05/03/24
10,265 -22.76%
on 04/22/24
-270 (-3.29%)
since 04/08/24
3-Month
4,434 +78.82%
on 02/09/24
10,265 -22.76%
on 04/22/24
+3,398 (+74.99%)
since 02/08/24
52-Week
2,081 +281.02%
on 05/09/23
10,265 -22.76%
on 04/22/24
+5,846 (+280.65%)
since 05/05/23

More Cocoa #7 Quotes

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Most Recent Stories

More News
Sugar Prices Weighed Down by Dollar Strength and Higher Brazilian Production

July NY world sugar #11 (SBN24 ) on Wednesday closed down -0.35 (-1.75%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -12.80 (-2.19%). Sugar prices Wednesday closed moderately lower as a stronger...

SBN24 : 19.60s (-1.75%)
SWQ24 : 572.90s (-2.19%)
Cocoa Prices Post Modest Gains as Global Supplies Remain Tight

July ICE NY cocoa (CCN24 ) on Wednesday closed up +24 (+0.28%), and July ICE London cocoa #7 (CAN24 ) closed up +6 (+0.08%). Cocoa prices posted modest gains on Wednesday as a global cocoa shortfall persists....

CCN24 : 8,634s (+0.28%)
CAU24 : 6,976s (+0.11%)
Coffee Prices Erase Early Losses on Forecasts for Limited Rain in Brazil

July arabica coffee (KCN24 ) on Wednesday closed up +0.90 (+0.46%), and July ICE robusta coffee (RMN24 ) closed up +36 (+1.07%). Coffee prices recovered from early losses on Wednesday and posted moderate...

KCN24 : 197.55s (+0.46%)
RMN24 : 3,414s (+1.07%)
Sugar Prices Remain Generally Weak on Higher Brazilian Production

July NY world sugar #11 (SBN24 ) this morning is down -0.38 (-1.90%), and Aug London ICE white sugar #5 (SWQ24 ) is down -13.90 (-2.374%). Sugar prices today are moderately lower as a stronger dollar spurred...

SBN24 : 19.60s (-1.75%)
SWQ24 : 572.90s (-2.19%)
Cotton Posting Wednesday Gains

The cotton market is shooting higher on Wednesday, as contracts are up 170 to 245 points with May expiring today. The US dollar index is up 105 points, a negative input, while crude oil is 52 cents higher....

CTK24 : 80.06s (+3.97%)
CTN24 : 80.06s (+3.30%)
CTZ24 : 77.70s (+2.57%)
Cocoa Prices Supported by Tight Global Supplies

July ICE NY cocoa (CCN24 ) this morning is up +47 (+0.55%), and July ICE London cocoa #7 (CAN24 ) is up +15 (+0.20%). Cocoa prices this morning are moderately higher as a global cocoa shortfall persists....

CCN24 : 8,634s (+0.28%)
CAU24 : 6,976s (+0.11%)
Arabica Coffee Prices Slip as ICE Inventories Rebound

July arabica coffee (KCN24 ) this morning is down -0.50 (-0.25%), and July ICE robusta coffee (RMN24 ) is up +26 (+0.77%). Coffee prices this morning are mixed. Arabica coffee is under modest pressure...

KCN24 : 197.55s (+0.46%)
RMN24 : 3,414s (+1.07%)
Cotton Pushing Higher to Start Wednesday

The cotton market is trading 62 to 145 points this morning as May expires today. Futures had an inside day on Tuesday, but settled higher. Contracts closed with 30 to 49 point gains across most delivery...

CTK24 : 80.06s (+3.97%)
CTN24 : 80.06s (+3.30%)
CTZ24 : 77.70s (+2.57%)
Cotton Posts Turnround Tuesday Bounce

The cotton market saw higher action on Tuesday, as they try to recover from the recent collapse in prices. Contracts closed with 30 to 49 point gains across most contracts, despite negative outside factors...

CTK24 : 80.06s (+3.97%)
CTN24 : 80.06s (+3.30%)
CTZ24 : 77.70s (+2.57%)
Sugar Prices Supported by Expectations of Smaller Global Supplies

July NY world sugar #11 (SBN24 ) on Tuesday closed up +0.47 (+2.41%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +13.70 (+2.40%). Sugar prices rallied Tuesday to 3-week highs. Sugar has carryover...

SBN24 : 19.60s (-1.75%)
SWQ24 : 572.90s (-2.19%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 8,865
2nd Resistance Point 8,660
1st Resistance Point 8,294
Last Price 7,929s
1st Support Level 7,723
2nd Support Level 7,518
3rd Support Level 7,152

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52-Week High 10,265
Last Price 7,929s
Fibonacci 61.8% 7,139
Fibonacci 50% 6,173
Fibonacci 38.2% 5,207
52-Week Low 2,081

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