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Cocoa #7 Jul '24 (CAN24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Recover Sharply on Bullish Fundamentals

July ICE NY cocoa (CCN24) on Tuesday closed up +352 (+3.94%), and May ICE London cocoa #7 (CAK24) closed up +325 (+3.97%).

Cocoa prices Tuesday rebounded from 5-week lows and closed sharply higher.  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.  The fundamentals for cocoa remain bullish on the outlook for tighter global cocoa supplies over the medium term.  

On Tuesday, cocoa prices added to Monday's sharp losses and posted 5-week lows before recovering as higher margin calls fueled long liquidation in cocoa futures.  Also, cocoa has a negative carryover from last Thursday when Nigeria, the world's fifth largest cocoa producer, reported that its March cocoa exports rose +19% y/y to 22,199 MT.

Cocoa prices have seen an extraordinary rally this year to all-tim... 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
07/16/24 (77 days)

Seasonal Chart

Cocoa #7 Jul '24
Average Price Chart for 5 Prior Jul 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
6,679 +18.72%
on 04/30/24
9,980 -20.55%
on 04/19/24
+204 (+2.64%)
since 03/28/24
3-Month
3,699 +114.36%
on 01/31/24
9,980 -20.55%
on 04/19/24
+4,213 (+113.37%)
since 01/30/24
52-Week
2,049 +286.97%
on 05/04/23
9,980 -20.55%
on 04/19/24
+5,860 (+283.23%)
since 04/28/23

More Cocoa #7 Quotes

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Most Recent Stories

More News
Sugar Prices Settle Lower on Dollar Strength and Improved Rain Chances in Brazil

May NY world sugar #11 (SBK24 ) on Tuesday closed down -0.49 (-2.43%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -4.50 (-0.78%). Sugar prices on Tuesday finished moderately lower. A stronger...

SBN24 : 19.41s (-1.87%)
SWQ24 : 569.30s (-0.78%)
DXY00 : 106.216 (+0.60%)
Cocoa Prices Recover Sharply on Bullish Fundamentals

July ICE NY cocoa (CCN24 ) on Tuesday closed up +352 (+3.94%), and May ICE London cocoa #7 (CAK24 ) closed up +325 (+3.97%). Cocoa prices Tuesday rebounded from 5-week lows and closed sharply higher. ...

CCN24 : 9,283s (+3.94%)
CAU24 : 7,348s (+2.80%)
Coffee Closes Sharply Lower on Dollar Strength and Rain Forecasts for Brazil

July arabica coffee (KCN24 ) on Tuesday closed down -10.85 (-4.77%), and July ICE robusta coffee (RMN24 ) closed down -143 (-3.43%). Coffee prices on Tuesday fell sharply, with arabica posting a 2-week...

KCN24 : 216.65s (-4.77%)
RMN24 : 4,021s (-3.43%)
DXY00 : 106.216 (+0.60%)
Cotton in the Red on Turnaround Tuesday

Cotton futures are posting losses of 72 to 304 points on Tuesday, pressure by some outside market factors. Crude Oil is down $0.96 per barrel, with the US dollar index up 602 points on the day. Weekly...

CLM24 : 81.80 (-1.00%)
CTK24 : 79.30 (-0.90%)
CTN24 : 78.52 (-3.68%)
CTZ24 : 76.87 (-1.76%)
Sugar Prices Fall Back on Dollar Strength and Improved Rain Chances in Brazil

May NY world sugar #11 (SBK24 ) this morning is down -0.30 (-1.49%), and Aug London ICE white sugar #5 (SWQ24 ) is down -5.50 (-0.96%). Sugar prices this morning are moderately lower. A stronger dollar...

SBN24 : 19.41s (-1.87%)
SWQ24 : 569.30s (-0.78%)
DXY00 : 106.216 (+0.60%)
Cocoa Prices Rebound as Fundamentals Remain Bullish

July ICE NY cocoa (CCN24 ) this morning is up +205 (+2.30%), and May ICE London cocoa #7 (CAK24 ) is up +325 (+3.97%). Cocoa prices this morning rebounded from 5-week lows and are moderately higher. Recent...

CCN24 : 9,283s (+3.94%)
CAU24 : 7,348s (+2.80%)
Coffee Prices Retreat on Dollar Strength and Rain Forecasts for Brazil

July arabica coffee (KCN24 ) this morning is down -10.70 (-4.70%), and July ICE robusta coffee (RMN24 ) is down -141 (-3.41%). Coffee prices this morning are sharply lower, with arabica falling to a 2-week...

KCN24 : 216.65s (-4.77%)
RMN24 : 4,021s (-3.43%)
DXY00 : 106.216 (+0.60%)
Cotton Falling on Turnaround Tuesday

Cotton futures are trading 133 to 271 points lower this morning. They were up 38 to 94 points on Monday. Active December is leading the way, up 94 points. The outside markets were mixed, with Crude Oil...

CLM24 : 81.80 (-1.00%)
CTK24 : 79.30 (-0.90%)
CTN24 : 78.52 (-3.68%)
CTZ24 : 76.87 (-1.76%)
World Bank Projects Food Price Decline, But Flags Geopolitical and Climate Risks

The World Bank anticipates a decline in global food prices throughout 2024 and 2025, primarily driven by lower prices for grains and oils. However, the latest report from the bank warns of potential risks,...

Cotton Bouncing on Monday

Cotton futures were up 38 to 94 points on Monday. Active December is leading the way up 94 points. The outside markets were mixed, with Crude Oil down $1.04 per barrel, with the US dollar index down 279...

CLM24 : 81.80 (-1.00%)
CTK24 : 79.30 (-0.90%)
CTN24 : 78.52 (-3.68%)
CTZ24 : 76.87 (-1.76%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 9,759
2nd Resistance Point 8,893
1st Resistance Point 8,411
Last Price 7,929s
1st Support Level 7,063
2nd Support Level 6,197
3rd Support Level 5,715

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52-Week High 9,980
Last Price 7,929s
Fibonacci 61.8% 6,950
Fibonacci 50% 6,015
Fibonacci 38.2% 5,079
52-Week Low 2,049

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