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Cocoa #7 May '24 (CAK24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Finish Sharply Higher as ICE Cocoa Inventories Shrink

September ICE NY cocoa (CCU24) on Tuesday closed up +495 (+6.79%), and September ICE London cocoa #7 (CAU24) closed up +306 (+4.96%).

Cocoa prices rallied sharply on Tuesday and recovered all of Monday's losses.   The price movement in cocoa remains highly volatile, and little news can move prices substantially.  Short-covering Tuesday pushed prices sharply higher after ICE-monitored cocoa inventories held in US ports on Tuesday fell to a 3-1/2 year low.

Lower cocoa production in the Ivory Coast, the world's largest producer, is also a bullish price factor.  Government data Monday showed that Ivory Coast farmers shipped 1.59 MMT of cocoa to ports from October 1 to June 30, down by 29% from the same time last year.  Trader Ecom Agroindustrial projects Ivory Coast 2023/24 cocoa production, which ends in September, will fall -21.5% y/y to an 8-year low of 1.75 MMT.  

On Monday, NY cocoa posted a 5-week low on an improved outlook for Ivory Coast cocoa production.  Bloo... 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 (expired)

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
5,800 +8.52%
on 05/14/24
10,265 -38.68%
on 04/22/24
-2,883 (-31.42%)
since 04/15/24
3-Month
4,484 +40.37%
on 02/19/24
10,265 -38.68%
on 04/22/24
+1,599 (+34.06%)
since 02/15/24
52-Week
2,118 +197.17%
on 05/16/23
10,265 -38.68%
on 04/22/24
+4,167 (+195.91%)
since 05/15/23

More Cocoa #7 Quotes

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Most Recent Stories

More News
Cotton Closes Lower on Tuesday

Cotton futures closed with 27 to 74 point losses on the Tuesday session. The outside factors are mixed, with crude oil down 32 cents/barrel, as the dollar index was down 212 points. The weekly Crop Progress...

CTN24 : 69.33s (-1.06%)
CTV24 : 72.08 (+0.81%)
CTZ24 : 72.72 (+0.03%)
NY Sugar Settles Higher on Below-Average Rain in Brazil and India

October NY world sugar #11 (SBV24 ) on Tuesday closed up +0.38 (+1.88%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -1.60 (-0.27%). Sugar prices Tuesday settled mixed, with NY sugar climbing...

SBV24 : 20.61s (+1.88%)
SWV24 : 576.30s (+1.09%)
^USDBRL : 5.67690 (-0.02%)
Cocoa Prices Finish Sharply Higher as ICE Cocoa Inventories Shrink

September ICE NY cocoa (CCU24 ) on Tuesday closed up +495 (+6.79%), and September ICE London cocoa #7 (CAU24 ) closed up +306 (+4.96%). Cocoa prices rallied sharply on Tuesday and recovered all of Monday's...

CCU24 : 7,788s (+6.79%)
CAU24 : 6,476s (+4.96%)
Coffee Prices Post Moderate Gains on Signs of Smaller Global Coffee Supplies

September arabica coffee (KCU24 ) on Tuesday closed up +2.45 (+1.09%), and Sep ICE robusta coffee (RMU24 ) closed up +25 (+0.61%). Coffee prices on Tuesday posted moderate gains. Smaller coffee exports...

KCU24 : 227.30s (+1.09%)
RMU24 : 4,092s (+0.61%)
^USDBRL : 5.67690 (-0.02%)
Cotton Lower at Midday

Cotton futures are pulling back 26 to 40 points so far on Tuesday. The outside factors are mute, with crude oil up 5 cents/barrel, as the dollar index is down 61 points. The weekly Crop Progress data showed...

CTN24 : 69.33s (-1.06%)
CTV24 : 72.08 (+0.81%)
CTZ24 : 72.72 (+0.03%)
NY Sugar Supported by Below-Normal Rain in Brazil and India

October NY world sugar #11 (SBV24 ) today is up +0.47 (+2.32%), and Aug London ICE white sugar #5 (SWQ24 ) is down -1.70 (-0.291%). Sugar prices today are mixed, with NY sugar climbing to a 2-1/2 month...

SBV24 : 20.61s (+1.88%)
SWV24 : 576.30s (+1.09%)
^USDBRL : 5.67690 (-0.02%)
Cocoa Prices Rebound as ICE Cocoa Inventories Shrink

September ICE NY cocoa (CCU24 ) today is up +436 (+5.98%), and September ICE London cocoa #7 (CAU24 ) is up +273 (+4.42%). Cocoa prices today are sharply higher and recovered all of Monday's losses. ...

CCU24 : 7,788s (+6.79%)
CAU24 : 6,476s (+4.96%)
Coffee Prices Supported by Small Global Coffee Supplies

September arabica coffee (KCU24 ) today is up +5.50 (+2.45%), and Sep ICE robusta coffee (RMU24 ) is up +40 (+0.98%). Coffee prices today are moderately higher. Smaller coffee exports from Costa Rica,...

KCU24 : 227.30s (+1.09%)
^USDBRL : 5.67690 (-0.02%)
Cotton Slipping on Tuesday Morning

Cotton prices are down 34 to 44 points to start Tuesday trade. Futures saw some strength on Monday, with some outside help, as contracts were up 18 to 41 points. The outside factors were helping, mainly...

CTN24 : 69.33s (-1.06%)
CTV24 : 72.08 (+0.81%)
CTZ24 : 72.72 (+0.03%)
Cotton Gets a Pop on Monday

Cotton futures saw some strength on Monday, with some outside help, as contracts were up 18 to 41 points. The outside factors were helping, mainly via crude oil, up $1.79/barrel, as the dollar index was...

CTN24 : 69.33s (-1.06%)
CTV24 : 72.08 (+0.81%)
CTZ24 : 72.72 (+0.03%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 6,294
2nd Resistance Point 6,294
1st Resistance Point 6,294
Last Price 6,294s
1st Support Level 6,294
2nd Support Level 6,294
3rd Support Level 6,294

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52-Week High 10,265
Fibonacci 61.8% 7,153
Last Price 6,294s
Fibonacci 50% 6,192
Fibonacci 38.2% 5,230
52-Week Low 2,118

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