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Cocoa #7 May '24 (CAK24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Closes Sharply Higher as Prices Recover Some of Last Week's Plunge

July ICE NY cocoa (CCN24) on Tuesday closed up +1,022 (+13.47%), and July ICE London cocoa #7 (CAN24) closed up +579 (+8.41%).

Cocoa prices rallied sharply on Tuesday as they recovered from some of last week's sharp decline.  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... 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
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Price Performance

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Period Period Low Period High Performance
1-Month
6,619 +20.85%
on 05/03/24
10,265 -22.08%
on 04/22/24
+3 (+0.04%)
since 04/05/24
3-Month
4,297 +86.15%
on 02/08/24
10,265 -22.08%
on 04/22/24
+3,712 (+86.59%)
since 02/07/24
52-Week
2,081 +284.38%
on 05/09/23
10,265 -22.08%
on 04/22/24
+5,916 (+284.01%)
since 05/05/23

More Cocoa #7 Quotes

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Most Recent Stories

More News
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 : 77.00s (+0.57%)
CTN24 : 77.86 (+0.46%)
CTZ24 : 76.10 (+0.46%)
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 : 19.95s (+2.41%)
SWQ24 : 585.70s (+2.40%)
Cocoa Closes Sharply Higher as Prices Recover Some of Last Week's Plunge

July ICE NY cocoa (CCN24 ) on Tuesday closed up +1,022 (+13.47%), and July ICE London cocoa #7 (CAN24 ) closed up +579 (+8.41%). Cocoa prices rallied sharply on Tuesday as they recovered from some of last...

CCN24 : 8,610s (+13.47%)
CAU24 : 6,968s (+8.82%)
Arabica Coffee Rebounds on Prospects of Limited Rain in Brazil

July arabica coffee (KCN24 ) on Tuesday closed up +1.45 (+0.74%), and July ICE robusta coffee (RMN24 ) closed down -163 (-4.60%). Coffee prices on Tuesday settled mixed, with robusta falling to a 6-week...

KCN24 : 196.65s (+0.74%)
RMN24 : 3,378s (-4.60%)
Cotton Showing Turnround Tuesday Bounce

The cotton market is posting 81 to 108 point gains at midday. The US dollar index is up 196 points, a negative input, while crude oil is 25 cents higher. The US cotton crop was reported at 24% planted...

CTK24 : 77.00s (+0.57%)
CTN24 : 77.86 (+0.46%)
CTZ24 : 76.10 (+0.46%)
Sugar Rallies on the Prospects of Smaller Global Supplies

July NY world sugar #11 (SBN24 ) this morning is up +0.43 (+2.21%), and Aug London ICE white sugar #5 (SWQ24 ) is up +11.00 (+1.92%). Sugar prices today are moderately higher, with London sugar posting...

SBN24 : 19.95s (+2.41%)
SWQ24 : 585.70s (+2.40%)
Cocoa Prices Jump Sharply in Volatile Trade

July ICE NY cocoa (CCN24 ) this morning is up +1,025 (+13.51%), and July ICE London cocoa #7 (CAN24 ) is up +583 (+8.47%). Cocoa prices this morning are sharply higher as they recover some of the large...

CCN24 : 8,610s (+13.47%)
CAU24 : 6,968s (+8.82%)
Coffee Prices Under Pressure on Improved Supply Prospects

July arabica coffee (KCN24 ) this morning is down -0.10 (-0.05%), and July ICE robusta coffee (RMN24 ) is down -193 (-5.45%). Coffee prices this morning are weaker, with arabica posting a 5-week low and...

KCN24 : 196.65s (+0.74%)
RMN24 : 3,378s (-4.60%)
Cotton Getting Tuesday AM Pop

The cotton market is posting 48 to 60 point gains following the overnight trade. Cotton resumed its slide on Monday, as contracts were down 22 to 100 points at the close. The US dollar index was up 42...

CTK24 : 77.00s (+0.57%)
CTN24 : 77.86 (+0.46%)
CTZ24 : 76.10 (+0.46%)
Holding on to a short Cocoa calendar spread

Looking at seasonality screens for Cocoa, the September – December spread appeared on April 26 and then again on May 2. When I scheduled the 4/26 trade in the Newsletter (4 trading days earlier) I fully...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 9,465
2nd Resistance Point 8,748
1st Resistance Point 8,374
Last Price 7,999s
1st Support Level 7,283
2nd Support Level 6,566
3rd Support Level 6,192

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52-Week High 10,265
Last Price 7,999s
Fibonacci 61.8% 7,139
Fibonacci 50% 6,173
Fibonacci 38.2% 5,207
52-Week Low 2,081

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