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Cocoa #7 May '24 (CAK24)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Finish Moderately Higher in Volatile Trade

July ICE NY cocoa (CCN24) on Tuesday closed up +156 (+2.18%), and July ICE London cocoa #7 (CAN24) closed up +149 (+2.48%).

Cocoa prices posted moderate gains on Tuesday as they recovered some of Monday's plunge.   Price moves in cocoa have been amplified by a lack of liquidity, with open interest in cocoa futures near the lowest in over a decade.  Last Friday's weekly Commitment of Traders (COT) report showed long-only positions in NY cocoa futures in the week ending May 7 fell to a four-year low, and short-only positions fell to the lowest in more than nine years.

Cocoa prices sank to 1-week lows Monday as forecasts for rain in West Africa boosted the outlook for cocoa crops and sparked massive long liquidation in cocoa futures.  Maxar Technologies said rain showers in the Ivory Coast and Ghana "should improve cocoa growing conditions quite a bit."  

Cocoa prices saw an extraordinary rally earlier this year to all-time highs on April 19 on supply concerns.  Globa... Read more

Contract Specifications

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Contract
Cocoa #7
Contract Size
10 metric tonnes
Tick Size
GBP 1 per metric tonne (GBP 10.00 per contract)
Trading Hours
9:30a.m. - 4:50p.m. GMT
Exchange
ICE/EU
Point Value
GBP 10
Expiration Date
05/15/24 (expired)

Seasonal Chart

Cocoa #7 May '24
Average Price Chart for 5 Prior May Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
5,800 +3.71%
on 05/14/24
10,265 -41.40%
on 04/22/24
-2,971 (-33.06%)
since 04/12/24
3-Month
4,484 +34.14%
on 02/19/24
10,265 -41.40%
on 04/22/24
+1,325 (+28.25%)
since 02/14/24
52-Week
2,107 +185.48%
on 05/15/23
10,265 -41.40%
on 04/22/24
+3,889 (+182.93%)
since 05/12/23

More Cocoa #7 Quotes

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Most Recent Stories

More News
Cotton Mixed to Start Wednesday

The cotton market is posting mixed trade on Wednesday morning after seeing limit down losses in the July contract on Tuesday. Other contracts settled down 11 to 148 points on the day. Limits are expanded...

CTN24 : 75.65 (+1.37%)
CTV24 : 75.08 (-0.66%)
CTZ24 : 74.45 (+0.36%)
Meteorology's MJO index: What it means and how it is affecting sugar and coffee prices

Jim explains how the MJO may be the factor behind the price movements in sugar and coffee

SBN24 : 18.64 (-1.22%)
SBV24 : 18.68 (-1.06%)
SWQ24 : 545.80 (-1.30%)
SWZ24 : 515.80 (-0.94%)
CANE : 11.52 (-1.12%)
RMN24 : 3,406 (-0.79%)
RMU24 : 3,341 (-0.68%)
Cotton Close With Limit July Losses

The cotton market saw July settled down the 3 cent limit, as other contracts were down 11 to 148 points on the day. Limits are expanded to 4 cents for the Wednesday session Crude oil was down $0.72 and...

CTN24 : 75.65 (+1.37%)
CTV24 : 75.08 (-0.66%)
CTZ24 : 74.45 (+0.36%)
Sugar Prices Close Higher as Dollar Weakness Sparks Short Covering

July NY world sugar #11 (SBN24 ) on Tuesday closed up +0.24 (+1.29%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +3.00 (+0.55%). Sugar prices Tuesday recovered from early losses and settled moderately...

SBN24 : 18.64 (-1.22%)
SWQ24 : 545.80 (-1.30%)
DXY00 : 104.465 (-0.52%)
Cocoa Prices Finish Moderately Higher in Volatile Trade

July ICE NY cocoa (CCN24 ) on Tuesday closed up +156 (+2.18%), and July ICE London cocoa #7 (CAN24 ) closed up +149 (+2.48%). Cocoa prices posted moderate gains on Tuesday as they recovered some of Monday's...

CCN24 : 7,699 (+5.15%)
CAN24 : 6,437 (+4.68%)
Coffee Prices Recover Early Losses and Settle Higher on Dollar Weakness

July arabica coffee (KCN24 ) on Tuesday closed up +4.80 (+2.45%), and July ICE robusta coffee (RMN24 ) closed up +34 (+1.00%). Coffee prices Tuesday recovered from early losses and finished moderately...

KCN24 : 199.55 (-0.65%)
RMN24 : 3,406 (-0.79%)
DXY00 : 104.465 (-0.52%)
Cotton Limit Down in July

The cotton market posting 63 to 131 point losses across most contracts on Tuesday, as July is down the 3 cent limit. Crude oil is down $1.13 and adding to the pressure. Crop Progress data from Monday afternoon...

CTN24 : 75.65 (+1.37%)
CTV24 : 75.08 (-0.66%)
CTZ24 : 74.45 (+0.36%)
Sugar Prices Rebound as Dollar Weakness Sparks Short Covering

July NY world sugar #11 (SBN24 ) this morning is up +0.24 (+1.29%), and Aug London ICE white sugar #5 (SWQ24 ) is up +3.30 (+0.60%). Sugar prices this morning recovered from early losses and are moderately...

SBN24 : 18.64 (-1.22%)
SWQ24 : 545.80 (-1.30%)
DXY00 : 104.465 (-0.52%)
Cocoa Prices Recover Some of Monday's Plunge

July ICE NY cocoa (CCN24 ) this morning is up +187 (+2.61%), and July ICE London cocoa #7 (CAN24 ) is up +224 (+3.73%). Cocoa prices this morning are moderately higher, recovering some of Monday's plunge....

CCN24 : 7,699 (+5.15%)
CAN24 : 6,437 (+4.68%)
Coffee Prices Firm on Dollar Weakness

July arabica coffee (KCN24 ) this morning is up +2.40 (+1.22%), and July ICE robusta coffee (RMN24 ) is up +15 (+0.44%). Coffee prices are moderately higher as today's fall in the dollar index (DXY00 )...

KCN24 : 199.55 (-0.65%)
RMN24 : 3,406 (-0.79%)
DXY00 : 104.465 (-0.52%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 6,908
2nd Resistance Point 6,644
1st Resistance Point 6,329
Last Price 6,015s
1st Support Level 5,750
2nd Support Level 5,486
3rd Support Level 5,171

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52-Week High 10,265
Fibonacci 61.8% 7,149
Fibonacci 50% 6,186
Last Price 6,015s
Fibonacci 38.2% 5,223
52-Week Low 2,107

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