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Cocoa Mar '24 (CCH24)
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Cocoa Futures Market News and Commentary

Cocoa Prices Sharply Higher as the Global Cocoa Deficit Widens

May ICE NY cocoa (CCK24) on Friday closed up +278 (+4.60%), and May ICE London cocoa #7 (CAK24) closed up +138 (+2.67%).

On Friday, cocoa prices rallied sharply on signs of deeper global cocoa deficits.  Carryover support from Thursday boosted cocoa prices when the International Cocoa Organization (ICCO) projected that the global 2023/24 cocoa deficit would widen to -374,000 MT from -74,000 MT in 2022/23.   The ICCO also projects global cocoa production in 2023/24 will fall by -11% y/y to 4.45 MMT, and global cocoa grindings will fall by nearly -5%, which will push the 2023/24 stock-to-grindings ratio to the lowest in more than 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 Ivory Coast farmers shipped 1.16 MMT of cocoa to ports from October 1 to February 25, down -32% from the same time last year.

Smaller cocoa exports from Nigeria, the world's fifth l... 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 10:50a.m.) CST
Exchange
ICE/US
Point Value
$10
Margin/Maintenance
$4,906/4,460
First Notice Date
02/23/24
Expiration Date
03/13/24 (10 days)

Seasonal Chart

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

Commitment of Traders Positions as of Feb 27, 2024

View Chart Details
Commercials - Long / Short
68,544 (-7,633)
115,415 (-13,359)
Non-Commercials - Long / Short
81,552 (-8,128)
40,364 (-1,190)
Producers - Long / Short
52,768 (-8,047)
94,520 (-11,929)
Swap Dealers - Long / Short
8,961 (+1,535)
14,080 (-309)
Managed Money - Long / Short
68,877 (-9,156)
23,765 (-1,913)
Other Reportables - Long / Short
12,675 (+1,028)
16,599 (+723)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
4,939 +38.21%
on 02/02/24
6,929 -1.49%
on 02/26/24
+1,870 (+37.73%)
since 02/01/24
3-Month
4,034 +69.21%
on 01/08/24
6,929 -1.49%
on 02/26/24
+2,625 (+62.49%)
since 12/01/23
52-Week
2,574 +165.19%
on 03/15/23
6,929 -1.49%
on 02/26/24
+4,088 (+149.31%)
since 03/01/23

More Cocoa Quotes

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ZCK24 : 424-6s (-1.11%)
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SBK24 : 21.09s (-2.77%)
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CTH24 : 97.56s (-3.94%)
CTK24 : 95.57s (-4.02%)
CTN24 : 93.77s (-4.09%)
Fats and Oils

Fats and Oils - 2024-03-01

ZCK24 : 424-6s (-1.11%)
ZSK24 : 1151-2s (+0.92%)
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XTK24 : 4,524s (+0.35%)
XVK24 : 2,464s (+0.33%)
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ZLK24 : 45.16s (-0.11%)
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Sugar Prices Retreat on Demand Concerns

May NY world sugar #11 (SBK24 ) on Friday closed down -0.60 (-2.77%), and May London ICE white sugar #5 (SWK24 ) closed down -12.50 (-2.03%). Sugar prices Friday retreated for a second day and posted 2-month...

SBK24 : 21.09s (-2.77%)
SWK24 : 602.60s (-2.03%)
Cocoa Prices Sharply Higher as the Global Cocoa Deficit Widens

May ICE NY cocoa (CCK24 ) on Friday closed up +278 (+4.60%), and May ICE London cocoa #7 (CAK24 ) closed up +138 (+2.67%). On Friday, cocoa prices rallied sharply on signs of deeper global cocoa deficits....

CCK24 : 6,327s (+4.60%)
CAK24 : 5,300s (+2.67%)
Arabica Coffee Closes Lower on Increased Supplies from Honduras

May arabica coffee (KCK24 ) on Friday closed down -1.05 (-0.57%), and May ICE robusta coffee (RMK24 ) closed up +48 (+1.55%). Coffee prices on Friday settled mixed, with robusta climbing to a 1-week high....

KCK24 : 183.30s (-0.57%)
RMK24 : 3,143s (+1.55%)
Cotton Giving Back a Limit 4c

The May cotton contract is lock-limit lower at midday giving back 4 cents of value after Tuesday’s limit rally. May is still up by a net 208 points for the week. New crop futures are also trading in...

CTH24 : 97.56s (-3.94%)
CTK24 : 95.57s (-4.02%)
CTN24 : 93.77s (-4.09%)
Sugar Prices Tumble on a Large Delivery to Settle the March NY Sugar Contract

May NY world sugar #11 (SBK24 ) this morning is down -0.57 (-2.63%), and May London ICE white sugar #5 (SWK24 ) is down -11.30 (-1.84%). Sugar prices today retreated for a second day and fell to 2-month...

SBK24 : 21.09s (-2.77%)
SWK24 : 602.60s (-2.03%)
Cocoa Prices Surge as the Global Cocoa Deficit Deepens

May ICE NY cocoa (CCK24 ) this morning is up +270 (+4.46%), and May ICE London cocoa #7 (CAK24 ) is up +138 (+2.67%). Cocoa prices this morning are sharply higher on signs of deeper global cocoa deficits....

CCK24 : 6,327s (+4.60%)
CAK24 : 5,300s (+2.67%)
Coffee Prices Mixed as Arabica Slips as Coffee Exports from Honduras Climb

May arabica coffee (KCK24 ) this morning is down -0.40 (-0.22%), and May ICE robusta coffee (RMK24 ) is up +46 (+1.49%). Coffee prices this morning are mixed, with robusta climbing to a 1-week high. Arabica...

KCK24 : 183.30s (-0.57%)
RMK24 : 3,143s (+1.55%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 6,902
2nd Resistance Point 6,864
1st Resistance Point 6,845
Last Price 6,826s
1st Support Level 6,788
2nd Support Level 6,750
3rd Support Level 6,731

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52-Week High 6,929
Last Price 6,826s
Fibonacci 61.8% 5,265
Fibonacci 50% 4,752
Fibonacci 38.2% 4,238
52-Week Low 2,574

See More

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