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Cocoa #7 May '23 (CAK23)

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Cocoa #7 Futures Market News and Commentary

Cocoa Prices in Correction Mode from Record Highs

May ICE NY cocoa (CCK24) this morning is down -582 (-5.21%), and May ICE London cocoa #7 (CAK24) is down -482 (-4.85%).

Cocoa prices today are falling sharply for a second session as the market corrects lower from the recent rally to all-time highs.  

Cocoa prices have seen an extraordinary rally this year to all-time highs last Friday on supply concerns.  Due to limited supplies, global cocoa grinders are paying up in the cash market to secure cocoa supplies this year due to growing concerns that West African cocoa suppliers may default on supply contracts.  Bloomberg reported on April 11 that the Ghana Cocoa Board is negotiating with major cocoa traders to postpone the delivery of at least 150,000 MT to 250,000 MT of cocoa until next season due to a lack of beans.  Cocoa prices have rallied sharply since the beginning of the year, driven by the worst supply shortage in 40 years.

Cocoa also has support on signs that global cocoa demand remains resilient despite re... 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
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

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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Most Recent Stories

More News
Cotton Pushing Back Lower at Midday

The cotton market showing losses on Turnaround Tuesday, to continue the slide with 25 to 131 point losses. They are shrugging off outside market strength, with crude oil up $1.02 at midday and the US dollar...

CTK24 : 79.29 (-0.94%)
CTN24 : 81.69 (-0.89%)
CTZ24 : 78.14 (-0.45%)
Strength in the Brazilian Real Boosts Sugar Prices

May NY world sugar #11 (SBK24 ) this morning is up +0.11 (+0.56%), and Aug London ICE white sugar #5 (SWQ24 ) is up +3.10 (+0.54%). Sugar prices this morning are moderately higher. Sugar prices are seeing...

SBN24 : 19.66s (+0.25%)
SWQ24 : 573.20s (+0.49%)
^USDBRL : 5.12220 (-0.88%)
Cocoa Prices in Correction Mode from Record Highs

May ICE NY cocoa (CCK24 ) this morning is down -582 (-5.21%), and May ICE London cocoa #7 (CAK24 ) is down -482 (-4.85%). Cocoa prices today are falling sharply for a second session as the market corrects...

CCN24 : 10,444s (-5.60%)
CAU24 : 8,491s (-5.91%)
Arabica Coffee Under Pressure from a Rebound in ICE-Monitored Arabica Inventories

July arabica coffee (KCN24 ) this morning is down -5.90 (-2.59%), and May ICE robusta coffee (RMK24 ) is up +58 (+1.41%). Coffee prices this morning are mixed, with arabica falling to a 1-week low. A...

KCN24 : 221.85s (-2.55%)
RMN24 : 4,117s (-0.39%)
Cotton Leaking Lower

The cotton market is down 11 to 28 points in early Tuesday trade. Cotton saw a bit of a dead cat bounce on Monday, as contracts were up 29 to 140 points after reaching new multi-month lows last week. ...

CTK24 : 79.29 (-0.94%)
CTN24 : 81.69 (-0.89%)
CTZ24 : 78.14 (-0.45%)
Cotton Post Monday Strength

The cotton market saw some recovery from the drop off the February highs, as contracts were up 29 to 140 points on Monday. The US cotton crop is now 11% planted as of April 21 according to the NASS Crop...

CTK24 : 79.29 (-0.94%)
CTN24 : 81.69 (-0.89%)
CTZ24 : 78.14 (-0.45%)
Crop Progress

Crop Progress - 2024-04-22

ZSN24 : 1181-6 (+0.45%)
ZSPAUS.CM : 11.1434 (+0.55%)
ZSBAUS.CM : -0.5241 (+0.61%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,768s (+1.32%)
XTN24 : 4,621s (-0.19%)
ZCN24 : 452-4 (+0.61%)
ZCPAUS.CM : 4.2687 (+0.66%)
ZCBAUS.CM : -0.1563 (+0.13%)
XVN24 : 2,414s (+0.08%)
XEU24 : 58.97 (-0.30%)
Sugar Mildly Higher on Reduced Production Estimates from Brazil

May NY world sugar #11 (SBK24 ) on Monday closed up +0.07 (+0.35%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +6.90 (+1.22%). Sugar prices on Monday closed mildly higher. Sugar prices have...

SBN24 : 19.66s (+0.25%)
^USDBRL : 5.12220 (-0.88%)
Cocoa Posts Sharp Losses on Long Liquidation Pressures

May ICE NY cocoa (CCK24 ) on Monday closed down -712 (-5.99%), and May ICE London cocoa #7 (CAK24 ) closed down -200 (-1.97%). Cocoa prices Monday sold off sharply on heavy long liquidation pressures in...

CCN24 : 10,444s (-5.60%)
CAU24 : 8,491s (-5.91%)
Arabica Coffee Sharply Lower as ICE-Monitored Arabica Inventories Recover

May arabica coffee (KCK24 ) on Monday closed down -9.75 (-4.04%), and May ICE robusta coffee (RMK24 ) closed up +44 (+1.08%). Coffee prices on Monday settled mixed. A rebound in arabica coffee supplies...

KCN24 : 221.85s (-2.55%)
RMN24 : 4,117s (-0.39%)

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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