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Cocoa Jul '24 (CCN24)

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Cocoa Futures Market News and Commentary

Cocoa Prices Close Sharply Higher as Global Cocoa Supply Outlook Worsens

July ICE NY cocoa (CCN24) on Monday closed up +444 (+4.76%), and July ICE London cocoa #7 (CAN24) closed up +220 (+2.96%).

Cocoa prices rallied sharply on Monday, with NY cocoa posting a 5-week high and London cocoa posting a 4-week high.  Lower cocoa production in the Ivory Coast, the world's largest producer, is a major bullish factor for cocoa prices.  Government data Monday showed that Ivory Coast farmers shipped 1.5 MMT of cocoa to ports from October 1 to June 2, down by 30% 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.  

Cocoa prices also have carryover support from last Friday when the ICCO estimated a 439,000 MT cocoa deficit for 2023/24, 17% higher than its February estimate of 374,000 MT and nearly six times larger than the 74,000 MT deficit in 2022/23.  ICCO said, "Current available data reveal that cocoa grinding activities ha... 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
$17,314/15,740
First Notice Date
06/24/24 (21 days)
Expiration Date
07/16/24 (43 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 28, 2024

View Chart Details
Commercials - Long / Short
52,941 (+841)
91,366 (+4,603)
Non-Commercials - Long / Short
48,416 (+2,975)
15,846 (-704)
Producers - Long / Short
40,209 (+595)
79,189 (+4,303)
Swap Dealers - Long / Short
7,134 (-606)
6,579 (-552)
Managed Money - Long / Short
35,146 (+1,972)
9,713 (-926)
Other Reportables - Long / Short
13,270 (+1,003)
6,133 (+222)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
6,767 +44.45%
on 05/20/24
10,047 -2.71%
on 06/03/24
+1,630 (+20.01%)
since 05/03/24
3-Month
5,908 +65.45%
on 03/08/24
11,722 -16.61%
on 04/19/24
+3,792 (+63.38%)
since 03/01/24
52-Week
2,939 +232.60%
on 06/05/23
11,722 -16.61%
on 04/19/24
+6,823 (+231.13%)
since 06/02/23

More Cocoa Quotes

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Most Recent Stories

More News
Cotton Posts Limit Losses on Monday

Cotton futures posted sharp losses on Monday, with most contracts down 98 to 228 points and July down the 300 point limit. Crude oil pressured the market, with losses of $74.02/barrel, with the US dollar...

CTN24 : 73.49 (+0.46%)
CTV24 : 74.10s (-3.24%)
CTZ24 : 73.77 (+0.57%)
Crop Progress

Crop Progress - 2024-06-03

ZSN24 : 1186-6 (+0.19%)
ZSPAUS.CM : 11.2714 (-1.35%)
ZSBAUS.CM : -0.5735 (+8.17%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,027s (-0.98%)
XTN24 : 4,656s (+0.02%)
ZCN24 : 441-4 (-0.45%)
ZCPAUS.CM : 4.2363 (-0.81%)
ZCBAUS.CM : -0.1987 (-3.76%)
XVN24 : 2,437s (+0.12%)
XEU24 : 60.64 (+0.25%)
Fats and Oils

Fats and Oils - 2024-06-03

ZCN24 : 441-4 (-0.45%)
ZSN24 : 1186-6 (+0.19%)
XSU24 : 4,027s (-0.98%)
XTN24 : 4,656s (+0.02%)
XVN24 : 2,437s (+0.12%)
ZMN24 : 359.1 (-0.11%)
ZLN24 : 44.27 (+0.29%)
XUU24 : 3,466s (-0.55%)
XXU24 : 7,990s (-1.24%)
RSN24 : 636.20 (+0.28%)
KOQ24 : 3,937 (-3.41%)
YHU24 : 7,780s (-0.49%)
Sugar Rallies on Dollar Weakness

July NY world sugar #11 (SBN24 ) on Monday closed up +0.48 (+2.62%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +10.60 (+1.96%). Sugar prices rallied on Monday, with NY sugar climbing to a 2-1/2...

SBN24 : 18.78s (+2.62%)
SWQ24 : 552.30s (+1.96%)
Cocoa Prices Close Sharply Higher as Global Cocoa Supply Outlook Worsens

July ICE NY cocoa (CCN24 ) on Monday closed up +444 (+4.76%), and July ICE London cocoa #7 (CAN24 ) closed up +220 (+2.96%). Cocoa prices rallied sharply on Monday, with NY cocoa posting a 5-week high...

CCN24 : 9,775s (+4.76%)
CAU24 : 7,086s (+2.55%)
Coffee Prices Settle Higher on Dollar Weakness and Crop Concerns

July arabica coffee (KCN24 ) on Monday closed up +4.20 (+1.89%), and July ICE robusta coffee (RMN24 ) closed up +152 (+3.69%). Coffee prices Monday moved higher, with robusta coffee settling sharply higher....

KCN24 : 226.55s (+1.89%)
RMN24 : 4,272s (+3.69%)
Cotton Feeling Pressure on Monday

Cotton futures are down 175 to 290 points on Monday’s midday we futures explore new lows for the move. Crude oil is pressuring the market at midday, with losses of $74.26/barrel, with the US dollar index...

CTN24 : 73.49 (+0.46%)
CTV24 : 74.10s (-3.24%)
CTZ24 : 73.77 (+0.57%)
Dollar Weakness Sparks Short Covering in Sugar

July NY world sugar #11 (SBN24 ) today is up +0.51 (+2.79%), and Aug London ICE white sugar #5 (SWQ24 ) is up +11.50 (+2.12%). Sugar prices today are sharply higher, with NY sugar climbing to a 2-1/2 week...

SBN24 : 18.78s (+2.62%)
SWQ24 : 552.30s (+1.96%)
Cocoa Prices Jump as Global Cocoa Deficit Widens

July ICE NY cocoa (CCN24 ) today is up +301 (+3.23%), and July ICE London cocoa #7 (CAN24 ) is up +220 (+2.96%). Cocoa prices today are sharply higher, with NY cocoa posting a 5-week high and London cocoa...

CCN24 : 9,775s (+4.76%)
CAU24 : 7,086s (+2.55%)
Coffee Prices Climb on Dollar Weakness and Crop Concerns

July arabica coffee (KCN24 ) today is up +2.50 (+1.12%), and July ICE robusta coffee (RMN24 ) is up +126 (+3.06%). Coffee prices today are moderately higher. Today's decline in the dollar index to a 2-week...

KCN24 : 226.55s (+1.89%)
RMN24 : 4,272s (+3.69%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 11,020
2nd Resistance Point 10,534
1st Resistance Point 10,154
Last Price 9,775s
1st Support Level 9,288
2nd Support Level 8,802
3rd Support Level 8,422

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52-Week High 11,722
Last Price 9,775s
Fibonacci 61.8% 8,367
Fibonacci 50% 7,331
Fibonacci 38.2% 6,294
52-Week Low 2,939

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