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Cocoa #7 May '21 (CAK21)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Fall to Multi-Month Lows on the Outlook for Ample Supplies and Demand Concerns

May ICE NY cocoa (CCK21) on Friday closed down -1 (-0.04%), and May ICE London cocoa #7 (CAK21) closed down -43 (-2.62%).

Cocoa prices on Friday moved lower, with NY cocoa falling to a 5-month low and London cocoa falling to a 4-month nearest-futures low. The outlook for bumper cocoa crops in West Africa undercut cocoa prices and fueled fund selling in cocoa futures. Cocoa farmers in the Ivory Coast and Ghana are reporting favorable growing conditions that bode well for the mid-crop harvest that just began.

Cocoa supplies are ample from the Ivory Coast, the world's largest cocoa producer. The Ivory Coast government reported Thursday that cumulative cocoa bean deliveries to Ivory Coast ports during Oct 1-Apr 4 were unchanged y/y at 1.78 MMT. Also, current inventories are abundant after ICE-monitored cocoa inventories climbed to a 1-3/4 year high on Friday.

Demand concerns are also weighing on cocoa prices. Chocolate demand in Europe may suf... 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
Point Value
GBP 10
Expiration Date
05/13/21 (32 days)

Seasonal Chart

Cocoa #7 May '21
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
1,594 +0.25%
on 04/09/21
1,798 -11.12%
on 03/11/21
-155 (-8.84%)
since 03/09/21
3-Month
1,594 +0.25%
on 04/09/21
1,822 -12.29%
on 03/03/21
-41 (-2.50%)
since 01/08/21
52-Week
1,537 +3.97%
on 07/16/20
1,840 -13.15%
on 09/21/20
-68 (-4.08%)
since 04/09/20

More Cocoa #7 Quotes

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Most Recent Stories

More News
Cocoa Weekly Forecast

The downtrend may be expected to continue, while market is trading below resistance level 2410, which will be followed by reaching support level 2233 and 3160

Coffee Weekly Forecast

The uptrend may be expected to continue, while market is trading above support level 126, which will be followed by reaching resistance level 132 – 134

Sugar Weekly Forecast

The uptrend may be expected to continue, while market is trading above support level 14.90, which will be followed by reaching resistance level 15.84 and 16.50

Cotton Weekly Forecast

An downtrend will start as soon, as the market drops below support level 81.33, which will be followed by moving down to support level 76.97 and if it keeps on moving down below that level, we may expect...

Cotton Closes off Highs Still in Black

Afternoon trading on Friday pulled the front month cotton futures back from the highs, but futures were still higher on the day. Old crop prices ended the session 99 to 108 points higher, and new crop...

CTZ21 : 81.33 (-0.55%)
Cocoa Prices Fall to Multi-Month Lows on the Outlook for Ample Supplies and Demand Concerns

May ICE NY cocoa (CCK21 ) on Friday closed down -1 (-0.04%), and May ICE London cocoa #7 (CAK21 ) closed down -43 (-2.62%). Cocoa prices on Friday moved lower, with NY cocoa falling to a 5-month low and...

Arabica Coffee Settles Lower on Weakness in the Brazilian Real

May arabica coffee (KCK21 ) on Friday closed down -0.60 (-0.47%), and May ICE Robusta coffee (RMK21 ) closed down -2 (-0.15%). Coffee prices on Friday closed slightly lower. Arabica fell back from a 2-week...

NY Sugar Closes at a 2-Week High on Strength in Brazil Ethanol Exports

May NY world sugar #11 (SBK21 ) on Friday closed up +0.28 (+1.84%), and May London white sugar #5 (SWK21 ) closed down -2.20 (-0.52%). Sugar prices on Friday settled mixed, with NY sugar at a 2-week high....

Triple Digit Gains for Nearby Cotton

Old crop cotton futures are up 123 to 131 points after USDA’s report. USDA’s cash average price for cotton was a penny lower to 68 cents/lb. New crop prices are 37 to 64 points in the black so far....

CTK21 : 81.91 (-0.59%)
CTZ21 : 81.33 (-0.55%)
Cocoa Prices Tumble on the Outlook for Ample Supplies and Demand Concerns

May ICE NY cocoa (CCK21 ) this morning is down -4 (-0.17%), and May ICE London cocoa #7 (CAK21 ) is down -47 (-2.86%). Cocoa prices this morning are moving lower, with NY cocoa falling to a 5-month low...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1,675
2nd Resistance Point 1,658
1st Resistance Point 1,628
Last Price 1,598s
1st Support Level 1,581
2nd Support Level 1,564
3rd Support Level 1,534

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52-Week High 1,840
Fibonacci 61.8% 1,724
Fibonacci 50% 1,689
Fibonacci 38.2% 1,653
Last Price 1,598s
52-Week Low 1,537

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