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Cocoa #7 May '23 (CAK23)
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Cocoa #7 Futures Market News and Commentary

NY Cocoa Prices Rise on Smaller Ivory Coast Cocoa Supplies

July ICE NY cocoa (CCN23) on Tuesday closed up +14 (+0.47%), and July ICE London cocoa #7 (CAK23) closed down -10 (-0.42%).

Cocoa prices Tuesday settled mixed, with London cocoa falling to a 1-week low.  Smaller cocoa supplies from the Ivory Coast are bullish for prices after the Ivory Coast government reported Monday that farmers sent a cumulative 2.09 MMT of cocoa to Ivory Coast ports for the 2022/23 marketing year (October 1 through May 28), down -3.0% y/y.  The Ivory Coast is the largest cocoa producer in the world.  

A rally in the British pound (^GBPUSD) Tuesday to a 4-session high against the dollar sparked long liquidation pressures in London cocoa futures.  

Cocoa prices last Monday rallied to 6-3/4 year highs on quality concerns of the Ivory Coast mid-crop.  Farmers have reported poor cocoa quality, with cocoa bean counts averaging 120 for every 100 grams.  Exporters prefer counts of 80 to 100 for every 100 grams, with the best cocoa quality having the lo... 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
05/15/23 (expired)

Seasonal Chart

Cocoa #7 May '23
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
2,166 +6.69%
on 05/04/23
2,485 -7.00%
on 05/12/23
+108 (+4.90%)
since 04/14/23
3-Month
2,025 +14.12%
on 03/14/23
2,485 -7.00%
on 05/12/23
+206 (+9.79%)
since 02/15/23
52-Week
1,733 +33.35%
on 08/04/22
2,485 -7.00%
on 05/12/23
+495 (+27.26%)
since 05/13/22

More Cocoa #7 Quotes

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NY Cocoa Prices Rise on Smaller Ivory Coast Cocoa Supplies

July ICE NY cocoa (CCN23 ) on Tuesday closed up +14 (+0.47%), and July ICE London cocoa #7 (CAK23 ) closed down -10 (-0.42%). Cocoa prices Tuesday settled mixed, with London cocoa falling to a 1-week low....

CCN23 : 3,005 (unch)
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"Actionable Soft commodity trading ideas that help you stay ahead of the markets."

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 2,481
2nd Resistance Point 2,447
1st Resistance Point 2,379
Last Price 2,311s
1st Support Level 2,277
2nd Support Level 2,243
3rd Support Level 2,175

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52-Week High 2,485
Last Price 2,311s
Fibonacci 61.8% 2,198
Fibonacci 50% 2,109
Fibonacci 38.2% 2,020
52-Week Low 1,733

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