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Cocoa #7 Jul '24 (CAN24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Catapult to Record Highs on Supply Woes

May ICE NY cocoa (CCK24) on Friday closed up +614  (+5.92%), and May ICE London cocoa #7 (CAK24) closed up +416 (+4.85%).

Cocoa prices Friday soared to new all-time highs.  Concern that global cocoa supplies will continue to shrink in the coming months is pushing prices to new record highs.  Due to limited supplies, global cocoa grinders are paying up in the cash market to secure cocoa supplies this year due to growing concerns that West African cocoa suppliers may default on supply contracts.  Bloomberg reported Thursday that the Ghana Cocoa Board is negotiating with major cocoa traders to postpone the delivery of at least 150,000 MT to 250,000 MT of cocoa until next season due to a lack of beans.  Cocoa prices have rallied sharply since the beginning of the year, driven by the worst supply shortage in 40 years.

Lower cocoa production in the Ivory Coast, the world's largest producer, is a major bullish factor for cocoa prices.  Monday's government data showed that Ivory... 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
07/16/24 (94 days)

Seasonal Chart

Cocoa #7 Jul '24
Average Price Chart for 5 Prior Jul Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
5,193 +66.38%
on 03/13/24
8,652 -0.14%
on 04/12/24
+3,406 (+65.07%)
since 03/12/24
3-Month
3,323 +160.01%
on 01/15/24
8,652 -0.14%
on 04/12/24
+5,295 (+158.30%)
since 01/12/24
52-Week
1,999 +332.22%
on 04/13/23
8,652 -0.14%
on 04/12/24
+6,650 (+334.17%)
since 04/12/23

More Cocoa #7 Quotes

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Most Recent Stories

More News
Cotton Slips Lower into Friday Close

Cotton futures were down 17 to 75 points in most contracts on Friday’s close. Crude oil backed off the early strength to close with gains of just 44 cents. The US dollar index was up 756 points on the...

CTK24 : 82.62s (-0.90%)
CTN24 : 84.59s (-0.77%)
CTZ24 : 80.11s (-0.72%)
Sugar Prices Under Pressure as Brazil Ramps Up Sugar Production

May NY world sugar #11 (SBK24 ) on Friday closed down -0.40 (-1.92%), and May London ICE white sugar #5 (SWK24 ) closed up +1.00 (+0.16%). Sugar prices Friday settled mixed, with NY sugar falling to a...

SBN24 : 20.13s (-1.95%)
SWQ24 : 589.20s (-1.29%)
^USDBRL : 5.11820 (+0.52%)
Cocoa Prices Catapult to Record Highs on Supply Woes

May ICE NY cocoa (CCK24 ) on Friday closed up +614 (+5.92%), and May ICE London cocoa #7 (CAK24 ) closed up +416 (+4.85%). Cocoa prices Friday soared to new all-time highs. Concern that global cocoa...

CCN24 : 10,475s (+5.90%)
CAN24 : 8,640s (+5.20%)
Robusta Coffee Climbs to a New Record High on Global Crop Concerns

May arabica coffee (KCK24 ) on Friday closed up +4.30 (+1.95%), and May ICE robusta coffee (RMK24 ) closed up +57 (+1.48%). Coffee prices on Friday settled moderately higher, with Arabica posting a 7-1/2...

KCN24 : 220.45s (+1.43%)
RMN24 : 3,852s (+1.64%)
^USDBRL : 5.11820 (+0.52%)
Cotton Continues Slide on Friday

Cotton futures are down 37 to 75 points so far at Friday’s midday. Early Crude oil strength provided some support, but they have since backed off to just 95 cents a barrel higher on the day. Premium...

CTK24 : 82.62s (-0.90%)
CTN24 : 84.59s (-0.77%)
CTZ24 : 80.11s (-0.72%)
NY Sugar Falls to a 5-Week Low on Higher Sugar Output in Brazil

May NY world sugar #11 (SBK24 ) this morning is down -0.17 (-0.82%), and May London ICE white sugar #5 (SWK24 ) is up +1.50 (+0.24%). Sugar prices this morning are mixed, with NY sugar falling to a 5-week...

SBN24 : 20.13s (-1.95%)
SWQ24 : 589.20s (-1.29%)
^USDBRL : 5.11820 (+0.52%)
Cocoa Soars to New Record Highs on Dwindling Global Supplies

May ICE NY cocoa (CCK24 ) this morning is up +624 (+6.02%), and May ICE London cocoa #7 (CAK24 ) is up +408 (+4.76%). Cocoa prices today soared to new all-time highs. Concern that global cocoa supplies...

CCN24 : 10,475s (+5.90%)
CAN24 : 8,640s (+5.20%)
Coffee Prices Surge on Global Crop Concerns

May arabica coffee (KCK24 ) this morning is up +10.80 (+4.90%), and May ICE robusta coffee (RMK24 ) is up +89 (+2.32%). Coffee prices this morning are moving sharply higher for a second day, with Arabica...

KCN24 : 220.45s (+1.43%)
RMN24 : 3,852s (+1.64%)
Where are Soft Commodity Prices Heading in Q2?

Soft commodities were the best-performing sector of the raw materials market in 2023, with the composite posting a 24.04% gain. The bullish price action continued over the first three months of 2024 as...

CCK24 : 10,987s (+5.92%)
CTK24 : 82.62s (-0.90%)
SBK24 : 20.45s (-1.92%)
KCK24 : 224.65s (+1.95%)
Cotton Price Weakens Into Friday

Cotton futures are down 30 to 82 points this morning. Thursday action in the cotton market saw losses of 40 to 194 points. The outside markets provided some pressure, with crude oil down 63 cents and the...

CTK24 : 82.62s (-0.90%)
CTN24 : 84.59s (-0.77%)
CTZ24 : 80.11s (-0.72%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 9,260
2nd Resistance Point 8,956
1st Resistance Point 8,798
Last Price 8,640s
1st Support Level 8,336
2nd Support Level 8,032
3rd Support Level 7,874

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52-Week High 8,652
Last Price 8,640s
Fibonacci 61.8% 6,111
Fibonacci 50% 5,326
Fibonacci 38.2% 4,540
52-Week Low 1,999

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