Config.
Marché
Rapport
Unité

COT ICE US Cocoa

Période
Échelle

As-of mardi · close vendredi · source CFTC

Long vs Short

Long et short en % d’OI (catégorie focus)

Δ 4 semaines

Variation du net vs le rapport d’il y a 4 semaines

Cette semaine

Catégorie Long Short Spreading Net Δ Long Δ Short Δ Net % OI long % OI short

Historique

Softs · ICE Futures U.S.

What is the ICE US cocoa futures contract?

New York cocoa (ICE US)

A long means…

Exposure to a rise in deliverable cocoa beans at US ports.

What is this?

New York cocoa is the world price of the bean. The ICE contract delivers physical cocoa beans in original bags, into licensed warehouses at five US ports — New York, the Delaware River, Hampton Roads, Albany, Baltimore. Any growth is deliverable. West Africa is the main source: Ghana, Côte d’Ivoire, Nigeria, Sierra Leone and Togo deliver at a premium; other origins at a smaller premium or at par. This is not a chocolate bar: the underlying is beans for the grind.

Producers and exporters hedge a bean inventory; grinders and confectioners hedge the cost of liquor.

Pitfalls

  • ICE US (CC, USD) ≠ ICE Europe London (GBP).
  • US port delivery, not a single-origin Ivory Coast contract.
  • London cocoa is out of CFTC COT scope.

Univers LIX

Le positionnement n’est pas le risque

Le COT décrit qui est positionné. Le LIX décrit le niveau de risque de marché — 12 indicateurs, hors COT.