In commodity market terminology, Cocoa futures refer to futures contracts on cocoa which are traded on several world commodities exchanges.Cocoa refers to a brown powder that is made from ground roasted cacao beans which have had most of the fat removed and which are obtained from the Theobroma cacao or cocoa tree.
Cocoa futures are traded primarily on the New York Mercantile Exchange or NYMEX and the London International Financial Futures Exchange or LIFFE and on the Intercontinental Exchange or ICE electronic trading platform; however the principle world market for futures is the NYMEX. Cocoa futures on the NYMEX are for 10 metric tons per contract and are traded by open outcry on the floor of the NYMEX. Quotes are in U.S. Dollars and cents with a minimum fluctuation of $1.00 per ton or $10.00 per contract. The last day of trading is on the day immediately preceding the first notice day of the corresponding trading month of Cocoa futures at ICE Futures U.S. Symbols for Cocoa on the ICE is CC, LIFFE – CAH and the NYMEX is CJ.