Cocoa Jul '24 (CCN24)
Cocoa Futures Market News and Commentary
September ICE NY cocoa (CCU26) on Tuesday closed up +65 (+1.14%), and September ICE London cocoa #7 (CAU26) closed up +43 (+1.02%).
Cocoa prices extended their sharp three-week-long rally on Tuesday, posting 6-month highs. Cocoa prices have rallied sharply over the past three weeks as heavy rains in the Ivory Coast and Ghana have flooded roads, cutting off farmers’ access to farms and ports and threatening global supplies. Excessive moisture also increases the risk of brown rot disease and black pod disease on cocoa trees, reducing yields and jeopardizing the harvest.Â
Cocoa prices also have underlying medium-term support from future weather concerns. On June 10, Japan’s Meteorological Agency confirmed an El Niño weather pattern had formed across the equatorial Pacific. An El Niño typically brings warmer, drier conditions to West Africa, reducing soil moisture, stressing cocoa trees, and lowering yields. The US National Oceanic and Atmospheric Administration (NOAA) e... Read more
Barchart · Wed Jul 8, 7:34AM CDT
Cotton prices are down 19 to 28 points so far on Wednesday morning trade. Futures closed with contracts 99 to 299 points higher, with some contracts hitting...
Barchart · Tue Jul 7, 5:02PM CDT
Cotton futures closed with contracts 99 to 299 points higher, with some contracts hitting the three cent limit at the high. The outside markets were mixed,...
Barchart · Tue Jul 7, 1:20PM CDT
October NY world sugar #11 (SBV26 ) on Tuesday closed down -0.08 (-0.53%), and Aug London ICE white sugar #5 (SWQ26 ) closed down -12.50 (-2.56%). Sugar...
Barchart · Tue Jul 7, 1:19PM CDT
September ICE NY cocoa (CCU26 ) on Tuesday closed up +65 (+1.14%), and September ICE London cocoa #7 (CAU26 ) closed up +43 (+1.02%). Cocoa prices extended...
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Barchart · Tue Jul 7, 11:57AM CDT
Cotton futures are up 138 to 245 points so far on Tuesday. The outside markets are mixed, as Crude oil is up $1.87, with the US dollar index up $0.155....
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