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Cocoa #7 May '24 (CAK24)
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Cocoa #7 Futures Market News and Commentary

Cocoa Prices Close Sharply Higher on Persistent Supply Fears

May ICE NY cocoa (CCK24) on Monday closed up +301 (+4.81%), and Mar ICE London cocoa #7 (CAH24) closed up +216 (+3.87%).

Cocoa prices on Monday continued their parabolic rally, with May NY cocoa posting a contract high and Mar NY cocoa and Mar London cocoa posting all-time nearest-futures highs.  Concerns about global cocoa production and widening global cocoa deficits have sparked panic buying of cocoa futures.

Lower cocoa production in the Ivory Coast, the world's largest producer, is a major bullish factor for cocoa prices.  Monday's government data showed Ivory Coast farmers shipped 1.16 MMT of cocoa to ports from October 1 to February 25, down -32% from the same time last year.

Smaller cocoa exports from Nigeria, the world's fifth largest cocoa producer, are bullish for prices after Nigeria's Jan cocoa exports fell -15% y/y to 36,941 MT.

Last Wednesday, the Ghana Cocoa Board cut its 2023/24 Ghana cocoa production estimate to a 14-year low of 650,000-700,... 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 (79 days)

Seasonal Chart

Cocoa #7 May '24
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
3,664 +51.69%
on 01/29/24
5,605 -0.84%
on 02/26/24
+1,879 (+51.07%)
since 01/26/24
3-Month
3,234 +71.86%
on 01/08/24
5,605 -0.84%
on 02/26/24
+2,236 (+67.31%)
since 11/24/23
52-Week
1,903 +192.07%
on 03/16/23
5,605 -0.84%
on 02/26/24
+3,615 (+186.05%)
since 02/24/23

More Cocoa #7 Quotes

All Futures Prices
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Most Recent Stories

More News
Triple Digit Gains for Monday Cotton

Cotton futures were up by 62 to 165 points at the close for Monday. May futures printed a wide 240 point range on the day, with more than a penny on both sides of UNCH. The new crop Dec contract is now...

CTH24 : 96.58s (+1.74%)
CTK24 : 94.80s (+1.40%)
CTN24 : 93.68s (+1.14%)
Cold Storage

Cold Storage - 2024-02-26

FCJ24 : 258.900s (-0.41%)
GFJ24 : 258.900s (-0.41%)
LCJ24 : 188.100s (+0.11%)
LEJ24 : 188.100s (+0.11%)
LHJ24 : 86.275s (-1.06%)
HEJ24 : 86.275s (-1.06%)
YKK24 : 14,650s (-0.03%)
BDH24 : 286.0000s (+0.27%)
OJK24 : 381.25s (+0.54%)
Cocoa Prices Close Sharply Higher on Persistent Supply Fears

May ICE NY cocoa (CCK24 ) on Monday closed up +301 (+4.81%), and Mar ICE London cocoa #7 (CAH24 ) closed up +216 (+3.87%). Cocoa prices on Monday continued their parabolic rally, with May NY cocoa posting...

CCK24 : 6,557s (+4.81%)
CAK24 : 5,558s (+3.93%)
Sugar Prices Finish Higher on the Outlook for Smaller Sugar Output in India

March NY world sugar #11 (SBH24 ) on Monday closed up +0.53 (+2.34%), and May London ICE white sugar #5 (SWK24 ) closed up +12.40 (+2.03%). Sugar prices rallied Monday, with NY sugar posting a 1-week high....

SBK24 : 22.16s (+1.56%)
SWK24 : 624.50s (+2.03%)
Coffee Prices Fall Back on Rain in Brazil

May arabica coffee (KCK24 ) on Monday closed down -0.70 (-0.39%), and May ICE robusta coffee (RMK24 ) closed down -10 (-0.33%). Coffee prices on Monday settled lower on reduced concerns about dry conditions...

KCK24 : 179.60s (-0.39%)
RMK24 : 3,020s (-0.33%)
Cotton Higher at Midday

The thin March and October contracts are in the red for Monday’s midday, while the active cotton futures are working 30 to 74 points in the black. May has seen a 190 point range so far for the day. ...

CTH24 : 96.58s (+1.74%)
CTK24 : 94.80s (+1.40%)
CTN24 : 93.68s (+1.14%)
Cocoa Prices Catapult to New Record Highs on Persistent Supply Fears

May ICE NY cocoa (CCK24 ) this morning is up +289 (+4.62%), and Mar ICE London cocoa #7 (CAH24 ) is up +216 (+3.87%). Cocoa prices this morning continued their parabolic rally, with May NY cocoa posting...

CCK24 : 6,557s (+4.81%)
CAK24 : 5,558s (+3.93%)
Sugar Prices Rally on the Outlook for Smaller Sugar Production in India

March NY world sugar #11 (SBH24 ) this morning is up +0.55 (+2.43%), and May London ICE white sugar #5 (SWK24 ) is up +13.30 (+2.17%). Sugar prices this morning are moderately higher, with NY sugar posting...

SBK24 : 22.16s (+1.56%)
SWK24 : 624.50s (+2.03%)
Coffee Prices Mixed on Dollar Weakness and Rain in Brazil

May arabica coffee (KCK24 ) this morning is up +0.10 (+0.06%), and May ICE robusta coffee (RMK24 ) is down -2 (-0.07%). Coffee prices this morning are mixed. Arabica coffee recovered from early losses...

KCK24 : 179.60s (-0.39%)
RMK24 : 3,020s (-0.33%)
Monday Cotton Futures Fading

Cotton futures are backing off by 2 to 48 points so far this morning. The front month cotton futures were 10 to 100 points weaker in the active contracts on Friday. March futures printed a 73 point gain,...

CTH24 : 96.58s (+1.74%)
CTK24 : 94.80s (+1.40%)
CTN24 : 93.68s (+1.14%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 5,903
2nd Resistance Point 5,754
1st Resistance Point 5,656
Last Price 5,558s
1st Support Level 5,409
2nd Support Level 5,260
3rd Support Level 5,162

See More

52-Week High 5,605
Last Price 5,558s
Fibonacci 61.8% 4,191
Fibonacci 50% 3,754
Fibonacci 38.2% 3,317
52-Week Low 1,903

See More

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