Cocoa Sep '24 (CCU24)
Cocoa Futures Market News and Commentary
May ICE NY cocoa (CCK26) on Thursday closed up +30 (+0.90%), and May ICE London cocoa #7 (CAK26) closed up +19 (+0.76%).
Cocoa prices settled higher on Thursday amid heightened concerns that a prolonged US-Iran war will keep the Strait of Hormuz closed and disrupt global cocoa supplies. Â The closure of the strait supports cocoa prices by reducing fertilizer supplies, boosting global shipping rates, insurance costs, and fuel prices, thereby raising cocoa importers' costs. Â Thursday's rally in the dollar index ($DXY) to a 1.5-week high limited gains in cocoa prices.
An excessively short position by funds in New York cocoa could add fuel to any short-covering rally. Â Last Friday's weekly Commitment of Traders (COT) report showed funds boosted their short position in NY cocoa by 1,737 net short positions in the week ended April 14 to 18,105, the most in more than 3 years.
Smaller cocoa supplies from Nigeria, the world's fifth-largest cocoa producer, are supportive for... Read more
Barchart · 1 hour ago
Cotton futures resumed gains on the Thursday session, as contracts closed with 17 to 81 cent gains. The US dollar index was 0.234 higher at $98.655. Crude...
Barchart · Thu Apr 23, 1:31PM CDT
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Barchart · Thu Apr 23, 1:29PM CDT
May ICE NY cocoa (CCK26 ) on Thursday closed up +30 (+0.90%), and May ICE London cocoa #7 (CAK26 ) closed up +19 (+0.76%). Cocoa prices settled higher...
Barchart · Thu Apr 23, 1:27PM CDT
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Barchart · Thu Apr 23, 12:15PM CDT
Cotton futures are trading with 45 to 75 point gains on Thursday. The US dollar index was 0.108 higher at $98.520. Crude oil is up another $2.34 to $95.19....
Barchart · Thu Apr 23, 11:25AM CDT
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Barchart · 1 hour ago
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Barchart · 1 hour ago
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Barchart · 1 hour ago
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Barchart · 1 hour ago
Cotton futures resumed gains on the Thursday session, as contracts closed with 17 to 81 cent gains. The US dollar index was 0.234 higher at $98.655. Crude...
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