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Cocoa Jul '24 (CCN24)

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Cocoa Futures Market News and Commentary

Cocoa Prices Supported by West African Crop Concerns

July ICE NY cocoa (CCN24) on Friday closed up +185 (+2.28%), and July ICE London cocoa #7 (CAN24) closed up +167 (+2.51%).

Cocoa prices Friday added to Thursday's sharp gains and posted 1-1/2 week highs.  Since posting 2-1/2 month lows on Monday, cocoa prices have recovered after the Hightower Report 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.  

Another bullish factor for cocoa is dwindling inventories, as ICE-monitored cocoa inventories held in US ports... 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
$17,314/15,740
First Notice Date
06/24/24 (29 days)
Expiration Date
07/16/24 (51 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 21, 2024

View Chart Details
Commercials - Long / Short
52,100 (-131)
86,763 (+964)
Non-Commercials - Long / Short
45,441 (+125)
16,550 (-808)
Producers - Long / Short
39,614 (-817)
74,886 (+942)
Swap Dealers - Long / Short
7,740 (+283)
7,131 (-381)
Managed Money - Long / Short
33,174 (-52)
10,639 (-712)
Other Reportables - Long / Short
12,267 (+177)
5,911 (-96)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
6,767 +22.57%
on 05/20/24
11,375 -27.09%
on 04/25/24
-2,723 (-24.72%)
since 04/24/24
3-Month
5,608 +47.90%
on 02/29/24
11,722 -29.24%
on 04/19/24
+2,338 (+39.25%)
since 02/23/24
52-Week
2,905 +185.51%
on 05/25/23
11,722 -29.24%
on 04/19/24
+5,378 (+184.43%)
since 05/24/23

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KEN24 : 721-2s (+1.48%)
WEAT : 6.42 (+0.16%)
ZCU24 : 474-4s (+0.26%)
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SOYB : 25.86 (+0.47%)
TAGS : 28.83 (+0.52%)
DBA : 24.67 (+0.16%)
CCN24 : 8,294s (+2.28%)
SBV24 : 18.39s (+0.66%)
CANE : 11.41 (+0.91%)
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Cotton prices retreated ahead of the holiday weekend, down 9 to 120 points in the actively traded contract months. Nearby July was still up 463 points for the week, thanks to a limit up move at midweek....

CTN24 : 80.52s (-1.47%)
CTV24 : 80.19s (+0.72%)
CTZ24 : 78.01s (-0.78%)
Cold Storage

Cold Storage - 2024-05-24

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LCM24 : 181.600s (-0.71%)
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Sugar Closes Higher as a Weak Dollar Inspires Short Covering

July NY world sugar #11 (SBN24 ) on Friday closed up +0.15 (+0.82%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) closed up +6.20 (+1.15%). Sugar prices on Friday recovered from 1-week lows and...

SBN24 : 18.41s (+0.82%)
SWQ24 : 545.90s (+1.15%)
DXY00 : 104.701 (-0.02%)
Cocoa Prices Supported by West African Crop Concerns

July ICE NY cocoa (CCN24 ) on Friday closed up +185 (+2.28%), and July ICE London cocoa #7 (CAN24 ) closed up +167 (+2.51%). Cocoa prices Friday added to Thursday's sharp gains and posted 1-1/2 week highs....

CCN24 : 8,294s (+2.28%)
CAU24 : 6,385s (+1.69%)
Coffee Prices Post Moderate Gains on Crop Concerns in Brazil and Vietnam

July arabica coffee (KCN24 ) on Friday closed up +2.60 (+1.21%), and July ICE robusta coffee (RMN24 ) closed up +73 (+1.91%). Coffee prices on Friday settled moderately higher but remained below Thursday's...

KCN24 : 218.25s (+1.21%)
RMN24 : 3,892s (+1.91%)
Cotton Slipping Lower on Friday

Cotton prices are down 55 to 140 points on Friday’s midday. Cotton limits are back to 400 points, with the July contract back in the 80 cent level. The outside market factors are supportive this go...

CTN24 : 80.52s (-1.47%)
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Dollar Weakness Sparks Short Covering in Sugar Futures

July NY world sugar #11 (SBN24 ) today is up +0.19 (+1.04%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) is up +4.90 (+0.91%). Sugar prices today recovered from 1-week lows and moved moderately...

SBN24 : 18.41s (+0.82%)
SWQ24 : 545.90s (+1.15%)
Cocoa Prices Climb on Concerns About West African Crop Production

July ICE NY cocoa (CCN24 ) today is up +148 (+1.83%), and July ICE London cocoa #7 (CAN24 ) is up +141 (+2.12%). Cocoa prices today extended Thursday's sharp rally to new 1-1/2 week highs. Since posting...

CCN24 : 8,294s (+2.28%)
CAU24 : 6,385s (+1.69%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 9,097
2nd Resistance Point 8,767
1st Resistance Point 8,530
Last Price 8,294s
1st Support Level 7,963
2nd Support Level 7,633
3rd Support Level 7,396

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52-Week High 11,722
Fibonacci 61.8% 8,354
Last Price 8,294s
Fibonacci 50% 7,314
Fibonacci 38.2% 6,273
52-Week Low 2,905

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