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Cocoa May '23 (CCK23)

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Cocoa Futures Market News and Commentary

Cocoa Prices Recover Recent Sharp Losses

July ICE NY cocoa (CCN24) on Wednesday closed up +142 (+1.92%), and July ICE London cocoa #7 (CAN24) closed up +132 (+2.16%).

Cocoa prices rallied moderately for a second day.  Prices are correcting upward from the month-long decline to Monday's 2-1/2 month lows.  Short covering in cocoa futures emerged after the Hightower Report on Tuesday warned that West African cocoa farmers' lack of fertilizer and pesticide use will hurt cocoa production during the 2024/25 season.

Also, lower cocoa production in the Ivory Coast, the world's largest producer, is a major bullish factor for cocoa prices.  Government data Tuesday showed that Ivory Coast farmers shipped 1.43 MMT of cocoa to ports from October 1 to May 19, down by 30% from the same time last year.  Trader Ecom Agroindustrial projects Ivory Coast 2023/24 cocoa production, which ends in September, will fall -21.5% y/y to an 8-year low of 1.75 MMT.  

Cocoa prices have slumped over the past month to 2-1/2 month lows Mon... 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 11:00a.m.) CST
Exchange
ICE/US
Point Value
$10
Margin/Maintenance
$15,422/14,020
First Notice Date
04/17/23
Expiration Date
05/15/23 (expired)

Seasonal Chart

Cocoa May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
52,231 (+402)
85,799 (+1,475)
Non-Commercials - Long / Short
45,316 (+737)
17,358 (-659)
Producers - Long / Short
40,431 (-768)
73,944 (+997)
Swap Dealers - Long / Short
7,457 (+681)
7,512 (-11)
Managed Money - Long / Short
33,226 (+9)
11,351 (-362)
Other Reportables - Long / Short
12,090 (+728)
6,007 (-297)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
2,974 +6.25%
on 04/17/23
3,279 -3.63%
on 05/12/23
+176 (+5.90%)
since 04/14/23
3-Month
2,604 +21.35%
on 03/15/23
3,279 -3.63%
on 05/12/23
+428 (+15.67%)
since 02/15/23
52-Week
2,188 +44.42%
on 09/26/22
3,279 -3.63%
on 05/12/23
+655 (+26.15%)
since 05/13/22

More Cocoa Quotes

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Most Recent Stories

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Cotton prices are up 58 to 132 points as we begin your Thursday. Futures posted a 3 cent (300 point) limit gain in the July contract on Wednesday, with other contracts up 68 to 220 points. ICE did expand...

CTN24 : 79.53 (+0.19%)
CTV24 : 79.10 (+1.05%)
CTZ24 : 77.10 (-0.23%)
Why Coffee Prices Exploded. What Next?

Jim's focus on the coffee crop via his grapevine of agents at the source in three countries (He also shares a thought or two about soybeans, sugar and orange juice)

KCN24 : 215.35 (-2.31%)
KCU24 : 214.45 (-2.19%)
KCZ24 : 213.30 (-2.11%)
RMN24 : 3,811 (-2.71%)
RMU24 : 3,724 (-3.12%)
RMX24 : 3,630 (-2.89%)
Cocoa continues to have the highest % carry yield score across all markets at 26.7%.

Cocoa had a huge run up in the first 4 months of the year and spread prices across the board are inflated. I expect to see continued contraction in the carry yield which will benefit “sell” calendar...

Cotton Post Limit Gains on Wednesday

Cotton futures posted a 3 cent limit gain in the July contract on Wednesday, with other contracts up 68 to 220 points. ICE did expand limits to 4 cents for the Thursday session. The outside market factors...

CTN24 : 79.53 (+0.19%)
CTV24 : 79.10 (+1.05%)
CTZ24 : 77.10 (-0.23%)
Sugar Prices Close Lower on Brazilian Real Weakness and an Improved Supply Outlook

July NY world sugar #11 (SBN24 ) on Wednesday closed down -0.33 (-1.78%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) closed down -2.90 (-0.53%). Sugar prices Wednesday were under moderate pressure...

SBN24 : 18.47 (+1.32%)
SWQ24 : 548.80 (+1.35%)
^USDBRL : 5.13950 (-0.22%)
Cocoa Prices Recover Recent Sharp Losses

July ICE NY cocoa (CCN24 ) on Wednesday closed up +142 (+1.92%), and July ICE London cocoa #7 (CAN24 ) closed up +132 (+2.16%). Cocoa prices rallied moderately for a second day. Prices are correcting...

CCN24 : 7,769 (+3.09%)
CAU24 : 5,991 (+1.78%)
Coffee Prices Push Higher on Weather Concerns in Brazil and Vietnam

July arabica coffee (KCN24 ) on Wednesday closed up +3.25 (+1.50%), and July ICE robusta coffee (RMN24 ) closed up +183 (+4.90%). Coffee prices on Wednesday extended Tuesday's rally to fresh 3-week highs....

KCN24 : 215.35 (-2.31%)
RMN24 : 3,811 (-2.71%)
Cotton Pushing Limit Gains on Wednesday

Cotton are trading with limit gains in the July contract so far on Wednesday, with other contracts up 145 to 216 points. The outside market factors are again not supportive, with crude oil 38 cents lower...

CTN24 : 79.53 (+0.19%)
CTV24 : 79.10 (+1.05%)
CTZ24 : 77.10 (-0.23%)
Sugar Prices Slide on Brazilian Real Weakness and an Improved Supply Outlook

July NY world sugar #11 (SBN24 ) today is down -0.30 (-1.62%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) is down -2.10 (-0.39%). Sugar prices today are under moderate pressure from weakness...

SBN24 : 18.47 (+1.32%)
SWQ24 : 548.80 (+1.35%)
^USDBRL : 5.13950 (-0.22%)
Cocoa Prices Correct Higher From Their Month-Long Decline

July ICE NY cocoa (CCN24 ) today is +126 (+1.70%), and July ICE London cocoa #7 (CAN24 ) is up +116 (+1.90%). Cocoa prices today are moving moderately higher for a second day. Prices are correcting upward...

CCN24 : 7,769 (+3.09%)
CAU24 : 5,991 (+1.78%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 3,160
2nd Resistance Point 3,160
1st Resistance Point 3,160
Last Price 3,160s
1st Support Level 3,160
2nd Support Level 3,160
3rd Support Level 3,160

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52-Week High 3,279
Last Price 3,160s
Fibonacci 61.8% 2,862
Fibonacci 50% 2,734
Fibonacci 38.2% 2,605
52-Week Low 2,188

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