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Cocoa #7 May '23 (CAK23)

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Cocoa #7 Futures Market News and Commentary

Cocoa Posts Sharp Losses on Long Liquidation Pressures

May ICE NY cocoa (CCK24) on Monday closed down -712 (-5.99%), and May ICE London cocoa #7 (CAK24) closed down -200 (-1.97%).

Cocoa prices Monday sold off sharply on heavy long liquidation pressures in cocoa futures.   Losses in London cocoa were limited after the British pound (^GBPUSD) fell to a 5-1/4 month low Monday.  The weaker pound boosts cocoa that is priced in terms of sterling.

Cocoa prices have seen an extraordinary rally this year to all-time highs last Friday on supply concerns.  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 on April 11 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, dr... 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
05/15/23 (expired)

Seasonal Chart

Cocoa #7 May '23
Average Price Chart for 5 Prior May 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
2,166 +6.69%
on 05/04/23
2,485 -7.00%
on 05/12/23
+108 (+4.90%)
since 04/14/23
3-Month
2,025 +14.12%
on 03/14/23
2,485 -7.00%
on 05/12/23
+206 (+9.79%)
since 02/15/23
52-Week
1,733 +33.35%
on 08/04/22
2,485 -7.00%
on 05/12/23
+495 (+27.26%)
since 05/13/22

More Cocoa #7 Quotes

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Most Recent Stories

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Cocoa Posts Sharp Losses on Long Liquidation Pressures

May ICE NY cocoa (CCK24 ) on Monday closed down -712 (-5.99%), and May ICE London cocoa #7 (CAK24 ) closed down -200 (-1.97%). Cocoa prices Monday sold off sharply on heavy long liquidation pressures in...

CCN24 : 10,736 (-2.96%)
CAU24 : 8,774 (-2.77%)
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May arabica coffee (KCK24 ) on Monday closed down -9.75 (-4.04%), and May ICE robusta coffee (RMK24 ) closed up +44 (+1.08%). Coffee prices on Monday settled mixed. A rebound in arabica coffee supplies...

KCN24 : 222.75 (-2.15%)
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Cocoa Prices Retreat on Long Liquidation Pressures

May ICE NY cocoa (CCK24 ) this morning is down -801 (-6.74%), and May ICE London cocoa #7 (CAK24 ) is down -237 (-2.34%). Cocoa prices this morning are sharply lower as a stronger dollar has sparked long...

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 2,481
2nd Resistance Point 2,447
1st Resistance Point 2,379
Last Price 2,311s
1st Support Level 2,277
2nd Support Level 2,243
3rd Support Level 2,175

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52-Week High 2,485
Last Price 2,311s
Fibonacci 61.8% 2,198
Fibonacci 50% 2,109
Fibonacci 38.2% 2,020
52-Week Low 1,733

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