What are cocoa futures?

Cocoa futures are used to determine the prices paid to farmers for cocoa in Ivory Coast and Ghana.

What is a cocoa contract?

The Cocoa contract is the world benchmark for the global cocoa market. The contract prices the physical delivery of exchange-grade product from a variety of African, Asian and Central and South American origins to any of five US delivery ports. $1.00/metric ton, equivalent to $10.00 per contract.

What boosted cocoa prices Wednesday?

Cocoa prices Wednesday posted moderate gains, with NY cocoa climbing to a 1-week high. Concerns that Ghana, the world's second-largest cocoa producer, is unlikely to fulfill some of its cocoa contracts for a second season boosted prices Wednesday.

Is strong cocoa demand underpinning prices?

Strong cocoa demand is underpinning prices. Gepex, an exporter group that includes six of the world's biggest cocoa grinders, reported last Friday that its Q2 cocoa processing rose +3% y/y to 161,433 MT. Last Monday, NY cocoa rallied to a 12-year nearest-futures high as the outlook for tighter future cocoa...