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Cocoa #7 Jul '24 (CAN24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Sink on Plentiful Supplies and Weak Demand

March ICE NY cocoa (CCH26) on Wednesday closed down -43 (-1.13%), and March ICE London cocoa #7 (CAH26) closed down -14 (-0.51%).

Cocoa prices extended their six-week-long plunge on Wednesday, with NY cocoa posting a 2.25-year nearest-futures low and London cocoa posting a 2.5-year low.   Abundant global supplies and slack demand are weighing on cocoa prices.  

On January 29, StoneX forecasted a global cocoa surplus of 287,000 MT in the 2025/26 season and a 267,000 MT surplus for 2026/27.  Also, the International Cocoa Organization (ICCO) reported on January 23 that global cocoa stocks rose 4.2% y/y to 1.1 MMT.

Abundant ICE-monitored cocoa inventories are negative for prices.  ICE cocoa inventories rose to a 3.75-month high of 1,871,034 bags on Wednesday.

Demand concerns have hammered cocoa prices as consumers continue to balk at the high price of chocolate.  On January 28, Barry Callebaut AG, the world's largest bulk chocolate maker, reported a -22% decline... 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 (expired)

Seasonal Chart

Cocoa #7 Jul '24
Average Price Chart for 5 Prior Jul Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
6,818 +9.83%
on 06/28/24
8,901 -15.87%
on 06/17/24
-1,349 (-15.27%)
since 06/14/24
3-Month
5,659 +32.32%
on 05/20/24
9,980 -24.97%
on 04/19/24
-860 (-10.30%)
since 04/16/24
52-Week
2,360 +217.29%
on 07/17/23
9,980 -24.97%
on 04/19/24
+5,122 (+216.48%)
since 07/14/23

More Cocoa #7 Quotes

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Most Recent Stories

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Sugar Prices Slump on Robust Global Supplies

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Cocoa Prices Sink on Plentiful Supplies and Weak Demand

March ICE NY cocoa (CCH26 ) on Wednesday closed down -43 (-1.13%), and March ICE London cocoa #7 (CAH26 ) closed down -14 (-0.51%). Cocoa prices extended their six-week-long plunge on Wednesday, with NY...

CCK26 : 3,771 (-2.20%)
CAK26 : 2,676 (-3.08%)
Coffee Prices Rebound on Brazilian Real Strength

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Cotton Holding Higher on Wednesday

Cotton futures are trading with 15 to 28 point gains across the front months at Wednesday’s midday. Crude oil futures are down $0.94 per barrel on the day at $64.90. The US dollar index is down $0.010...

CTK26 : 64.19 (+0.23%)
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Sugar Prices Plummet on the Outlook for Global Sugar Surpluses to Persist

March NY world sugar #11 (SBH26 ) today is down -0.28 (-1.98%), and March London ICE white sugar #5 (SWH26 ) is down -11.10 (-2.794%). Sugar prices extended their 3-month-long selloff today, sinking to...

SBK26 : 13.43 (-0.67%)
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Cocoa Prices Weighed Down by Abundant Supplies and Slack Demand

March ICE NY cocoa (CCH26) today is down -35 (-0.92%), and March ICE London cocoa #7 (CAH26) is down -14 (-0.51%). Cocoa prices extended their six-week-long plunge today, with NY cocoa posting a 2.25-year...

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Cotton Showing Slight Gains on Wednesday Morning

Cotton price action is steady to 11 points higher so far on Wednesday morning. Futures fell from early session highs, as contracts closed within 5 points of unchanged on Tuesday. Crude oil futures are...

CTK26 : 64.19 (+0.23%)
CTH26 : 62.27 (+0.45%)
CTZ24 : 71.40s (-1.37%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 8,576
2nd Resistance Point 8,359
1st Resistance Point 7,923
Last Price 7,488s
1st Support Level 7,270
2nd Support Level 7,053
3rd Support Level 6,617

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52-Week High 9,980
Last Price 7,488s
Fibonacci 61.8% 7,069
Fibonacci 50% 6,170
Fibonacci 38.2% 5,271
52-Week Low 2,360

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