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Cocoa #7 May '24 (CAK24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Surge on Dollar Weakness and West African Crop Concerns

December ICE NY cocoa (CCZ24) today is up +436 (+6.30%), and December ICE London cocoa #7 (CAZ24) is up +336 (+6.11%).

Cocoa prices today rallied sharply as a decline in the dollar sparked short covering in cocoa futures.  Also, comments today from the CEO of Barry Callebaut, one of the world's largest chocolate producers, lifted cocoa prices when he said that while cocoa crops in West Africa are showing "significant improvement versus last year," they are still not at levels seen in the 2022/23 season.

On Wednesday, cocoa prices fell to 1-week lows after the dollar rallied to a 4-month high and as the Ivory Coast cocoa harvest accelerated.  Monday's government data showed that Ivory Coast farmers shipped 365,072 MT of cocoa to ports from October 1 to November 3, up +26% from 288,686 MT shipped the same time last year.  The Ivory Coast is the world's largest cocoa producer.  

Cocoa prices were undercut when the Ivory Coast regulator Le Conseil Cafe-Cacao on October... 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
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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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Cocoa Prices Surge on Dollar Weakness and West African Crop Concerns

December ICE NY cocoa (CCZ24 ) today is up +436 (+6.30%), and December ICE London cocoa #7 (CAZ24 ) is up +336 (+6.11%). Cocoa prices today rallied sharply as a decline in the dollar sparked short covering...

CCH25 : 7,178s (+7.62%)
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Corn reached its highest carry yield for the past 52 weeks. Arabica Coffee remains very near its highest level

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Cocoa Prices Fall as the Dollar Rallies

December ICE NY cocoa (CCZ24 ) Wednesday closed down -327 (-4.51%), and December ICE London cocoa #7 (CAZ24 ) closed down -176 (-3.10%). Cocoa prices fell sharply on Wednesday and posted 1-week lows. ...

DXY00 : 104.371 (-0.68%)
CCH25 : 7,178s (+7.62%)
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NY Sugar Follows the Brazilian Real Higher

March NY world sugar #11 (SBH25 ) Wednesday closed up +0.13 (+0.59%), and December London ICE white sugar #5 (SWZ24 ) closed down -0.10 (-0.02%). Sugar prices Wednesday recovered from early losses and...

SBH25 : 22.20s (+0.77%)
^USDBRL : 5.71430 (+0.61%)
SWH25 : 576.20s (+1.41%)

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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