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Cocoa Jul '24 (CCN24)

8,320s -143 (-1.69%) 07/16/24 [ICE/US]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Tue, Jul 16th, 2024
Day Low
8,320
Day High
8,320
Open 0
Previous Close 8,463 8,463
Volume 0 0
Open Interest 0 0
Stochastic %K 86.12% 86.12%
Weighted Alpha +144.61 +144.61
5-Day Change +297 (+3.70%) +297 (+3.70%)
52-Week Range 3,243 - 11,722 3,243 - 11,722
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Cocoa Futures Market News and Commentary

Improving Supply Outlook Pressures Cocoa Prices

May ICE NY cocoa (CCK25) Monday closed down -40 (-0.51%), and May ICE London cocoa #7 (CAK25) closed up +16 (+0.26%).

Cocoa prices on Monday settled mixed.  Cocoa prices have been on the defensive over the past month, with NY cocoa falling to a 4-month low last Friday and London cocoa posting a 4-month low Monday on an improving supply outlook.  On February 28,  the International Cocoa Organization (ICCO) forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years.  ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT.

Monday's weaker dollar spurred some short covering in cocoa futures, with London cocoa erasing early losses and climbing into positive territory.  

The recovery in cocoa inventories is also negative for prices.  Since falling to a 21-year low of 1,263,493 bags on January 24,  ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 4-1/4 month high of 1,737,320... Read more

Contract Specifications

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Contract
Cocoa
Contract Size
10 metric tonnes (22,046 pounds)
Tick Size
$1.00 per metric tonne ($10.00 per contract)
Trading Hours
3:45a.m. - 12:30p.m. (Settles 11:00a.m.) CST
Exchange
ICE/US
Point Value
$10
Margin/Maintenance
$15,235/13,850
First Notice Date
06/24/24
Expiration Date
07/16/24 (expired)

Seasonal Chart

Cocoa Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Mar 11, 2025

View Chart Details
Commercials - Long / Short
44,503 (+3,282)
65,466 (+2,528)
Non-Commercials - Long / Short
28,388 (-1,022)
11,092 (-667)
Producers - Long / Short
30,730 (+3,397)
47,860 (+2,600)
Swap Dealers - Long / Short
7,349 (-114)
11,182 (-71)
Managed Money - Long / Short
19,491 (-1,275)
3,758 (-709)
Other Reportables - Long / Short
8,897 (+253)
7,334 (+42)
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Price Performance

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Period Period Low Period High Performance
1-Month
7,245 +14.84%
on 07/02/24
Period Open: 10,294
10,307 -19.28%
on 06/17/24
-1,974 (-19.18%)
since 06/14/24
3-Month
6,767 +22.95%
on 05/20/24
Period Open: 9,819
11,722 -29.02%
on 04/19/24
-1,499 (-15.27%)
since 04/16/24
52-Week
3,243 +156.55%
on 07/17/23
Period Open: 3,262
11,722 -29.02%
on 04/19/24
+5,058 (+155.06%)
since 07/14/23

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Most Recent Stories

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Sugar Prices Surge on Reduced Production Estimates in Brazil and India

May NY world sugar #11 (SBK25 ) Monday closed up +0.78 (+4.06%), and May London ICE white sugar #5 (SWK25 ) closed up +23.30 (+4.30%). NY sugar prices Monday rallied sharply to 3-week highs on signs of...

SBK25 : 19.97s (+4.06%)
^USDBRL : 5.68310 (-0.02%)
SWK25 : 564.80s (+4.30%)
Improving Supply Outlook Pressures Cocoa Prices

May ICE NY cocoa (CCK25 ) Monday closed down -40 (-0.51%), and May ICE London cocoa #7 (CAK25 ) closed up +16 (+0.26%). Cocoa prices on Monday settled mixed. Cocoa prices have been on the defensive over...

CCK25 : 7,827s (-0.51%)
CAK25 : 6,098s (+0.26%)
Coffee Prices Settle Higher on Brazil Dryness and Brazilian Real Strength

May arabica coffee (KCK25 ) Monday closed up +5.20 (+1.64%), and May ICE robusta coffee (RMK25 ) closed up +77 (+1.43%). Coffee prices on Monday settled moderately higher, supported by dry conditions in...

^USDBRL : 5.68310 (-0.02%)
RMK25 : 5,474s (+1.43%)
KCK25 : 383.40s (+1.64%)
Cotton Slipping Lower at Midday

Cotton futures are showing 7 to 36 point losses so far on Monday. Crude oil futures are up another $0.31/barrel to provide some support, with the US dollar index down $0.175 so far on the day. The large...

CTK25 : 66.98s (-0.58%)
CTN25 : 68.24s (-0.52%)
CTZ24 : 71.40s (-1.37%)
Sugar Rallies on Global Production Concerns and Brazilian Real Strength

May NY world sugar #11 (SBK25 ) today is up +0.67 (+3.49%), and May London ICE white sugar #5 (SWK25 ) is up +21.40 (+3.95%). NY sugar prices today rallied sharply to 2-1/2 week highs on signs of lower...

SBK25 : 19.97s (+4.06%)
^USDBRL : 5.68310 (-0.02%)
SWK25 : 564.80s (+4.30%)
Cocoa Prices Under Pressure from an Improving Supply Outlook

May ICE NY cocoa (CCK25 ) today is down -37 (-0.47%), and May ICE London cocoa #7 (CAK25 ) is down -41 (-0.67%). Cocoa prices today are moderately lower, with London cocoa posting a new 4-month low. Cocoa...

CCK25 : 7,827s (-0.51%)
CAK25 : 6,098s (+0.26%)
Coffee Prices Climb on Dryness in Brazil and Strength in the Brazilian Real

May arabica coffee (KCK25 ) today is up +7.75 (+2.05%), and May ICE robusta coffee (RMK25 ) is up +102 (+1.89%). Coffee prices today are moderately higher, supported by dry conditions in Brazil and strength...

^USDBRL : 5.68310 (-0.02%)
RMK25 : 5,474s (+1.43%)
KCK25 : 383.40s (+1.64%)
Cotton Slipping Back Early on Monday

Cotton price action is showing 6 to 19 point losses so far on Monday morning. Futures rallied on Friday, with contracts up 68 to 90 points at the close, as May was up 130 points last week. Crude oil futures...

CTK25 : 66.98s (-0.58%)
CTN25 : 68.24s (-0.52%)
CTZ24 : 71.40s (-1.37%)
Sugar calendar spread and a Chicago Wheat calendar spread

Hedge funds added a record 112,500 net long contracts over the past 5 trading days.  In addition, net longs have increased over 117,000 contracts over the past 6 weeks.  This occurred just as Sugar enters...

Cotton Posts Friday Strength

Cotton futures rallied on Friday, with contracts up 68 to 90 points at the close, as May was up 130 points this week. Crude oil futures were back up $0.64/barrel to provide some support, with the US dollar...

CTK25 : 66.98s (-0.58%)
CTN25 : 68.24s (-0.52%)
CTZ24 : 71.40s (-1.37%)
NY Sugar Prices Slip on Rain Forecasts for Brazil

May NY world sugar #11 (SBK25 ) Friday closed down -0.06 (-0.31%), and May London ICE white sugar #5 (SWK25 ) closed up +2.80 (+0.52%). NY sugar prices Friday fell from 2-week highs and turned lower on...

SBK25 : 19.97s (+4.06%)
SWK25 : 564.80s (+4.30%)
Cocoa Prices Tumble on the Outlook for a Global Cocoa Surplus

May ICE NY cocoa (CCK25 ) Friday closed down -305 (-3.73%), and May ICE London cocoa #7 (CAK25 ) closed down -259 (-4.08%). Cocoa prices Friday tumbled to 4-month lows on the outlook for a global cocoa...

CCK25 : 7,827s (-0.51%)
CAK25 : 6,098s (+0.26%)
Rain Forecasts for Brazil Weigh on Coffee Prices

May arabica coffee (KCK25 ) on Friday closed down -8.50 (-2.20%), and May ICE robusta coffee (RMK25 ) closed down -131 (-2.37%). Coffee prices fell on Friday, with arabica posting a 2-week low. Arabica...

RMK25 : 5,474s (+1.43%)
KCK25 : 383.40s (+1.64%)
Cotton Rallying on Friday

Cotton futures are showing gains of 63 to 106 points at Friday’s midday. Crude oil futures are back up $0.70/barrel to provide some support, with the US dollar index down $0.120 so far on the day. Total...

CTK25 : 66.98s (-0.58%)
CTN25 : 68.24s (-0.52%)
CTZ24 : 71.40s (-1.37%)
Sugar Prices Slip on Rain Forecasts for Brazil

May NY world sugar #11 (SBK25 ) today is down -0.18 (-0.94%), and May London ICE white sugar #5 (SWK25 ) is down -1.40 (-0.26%). Sugar prices today fell from 2-week highs and turned lower on forecasts...

SBK25 : 19.97s (+4.06%)
SWK25 : 564.80s (+4.30%)
Cocoa Prices Tumble on the Outlook for a Global Cocoa Surplus

May ICE NY cocoa (CCK25 ) today is down -338 (-4.14%), and May ICE London cocoa #7 (CAK25 ) is down -288 (-4.54%). Cocoa prices today tumbled to 4-month lows on the outlook for a global cocoa surplus....

CCK25 : 7,827s (-0.51%)
CAK25 : 6,098s (+0.26%)
Rain Forecasts for Brazil Weigh on Coffee Prices

May arabica coffee (KCK25 ) today is down -10.95 (-2.84%), and May ICE robusta coffee (RMK25 ) is down -81 (-1.47%). Coffee prices today are moderately lower, with arabica posting a 2-week low. Arabica...

RMK25 : 5,474s (+1.43%)
KCK25 : 383.40s (+1.64%)
Cotton Back to Strength on Friday Morning

Cotton futures are posting gains of 27 to 50 points so far on Friday. Contracts saw a pull back on Thursday, with futures closing with losses of 30 to 50 points in the nearbys. Crude oil futures closed...

CTK25 : 66.98s (-0.58%)
CTN25 : 68.24s (-0.52%)
CTZ24 : 71.40s (-1.37%)
Cotton Fall to Weakness on Thursday

Cotton futures saw a pull back on Thursday, with contracts closing with losses of 30 to 50 points in the nearbys. Crude oil futures closed Thursday down $0.90/barrel to provide some pressure, with the...

CTK25 : 66.98s (-0.58%)
CTN25 : 68.24s (-0.52%)
CTZ24 : 71.40s (-1.37%)
Lower Global Sugar Production Boosts Prices

May NY world sugar #11 (SBK25 ) Thursday closed up +0.39 (+2.07%), and May London ICE white sugar #5 (SWK25 ) closed up +5.50 (+1.03%). Sugar prices Thursday extended this week's advance, with NY sugar...

SBK25 : 19.97s (+4.06%)
SWK25 : 564.80s (+4.30%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 8,320
2nd Resistance Point 8,320
1st Resistance Point 8,320
Last Price 8,320s
1st Support Level 8,320
2nd Support Level 8,320
3rd Support Level 8,320

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52-Week High 11,722
Fibonacci 61.8% 8,483
Last Price 8,320s
Fibonacci 50% 7,483
Fibonacci 38.2% 6,482
52-Week Low 3,243

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