Trade the world's most beloved soft commodities — cocoa, coffee, cotton, and sugar — on the ICE exchange with ultra-low commissions and direct market access through Discount Trading.
Soft commodity futures are international markets grown across the globe, with prices driven by weather, disease, political instability in producing nations, and global supply and demand cycles. Most soft commodities are produced in tropical regions, making them particularly sensitive to El Niño and La Niña weather patterns. These markets trade on the Intercontinental Exchange (ICE) and offer compelling volatility for active traders.
Cocoa is the key ingredient in chocolate and is produced primarily in West Africa — particularly Ivory Coast and Ghana, which together account for over 60% of global supply. Cocoa futures are highly sensitive to West African political instability, rainfall patterns, and disease (black pod disease). Seasonal demand spikes around major chocolate-consuming holidays also influence prices. Cocoa hit historic highs in recent years driven by supply shortfalls.
| Specification | Details |
|---|---|
| Cocoa Futures (CC) — Standard Contract | |
| Contract Size | 10 metric tons |
| Tick Size | $1.00 per metric ton = $10.00 per contract |
| Price Quote | US Dollars per metric ton |
| Contract Months | Mar, May, Jul, Sep, Dec |
| Trading Hours | Monday – Friday 4:45 AM – 2:30 PM ET |
| Last Trading Day | 11th business day prior to the last business day of the delivery month |
| First Notice Day | 10th business day prior to the first business day of the delivery month |
| Settlement Method | Physical Delivery |
KC represents Arabica coffee, the premium coffee variety used in specialty coffee. Brazil is the world's largest coffee producer, followed by Vietnam and Colombia. Coffee prices are heavily influenced by weather in Brazil — particularly frost risk in key growing regions — and the Brazilian Real exchange rate. The "coffee season" from May through September is a period of heightened volatility as crop assessments come in.
| Specification | Details |
|---|---|
| Coffee Futures / Arabica (KC) — Standard Contract | |
| Contract Size | 37,500 pounds |
| Tick Size | $0.0005 per pound = $18.75 per contract |
| Price Quote | US Dollars and cents per pound |
| Contract Months | Mar, May, Jul, Sep, Dec |
| Trading Hours | Monday – Friday 3:15 AM – 2:30 PM ET |
| Last Trading Day | 8th business day prior to the last business day of the delivery month |
| First Notice Day | 5th business day prior to the first business day of the delivery month |
| Settlement Method | Physical Delivery |
Cotton is one of the world's most widely traded agricultural commodities, used primarily in textiles and apparel. The US, India, China, and Brazil are the world's largest cotton producers. Cotton prices are influenced by textile demand (particularly from China), competing fiber prices (polyester), US drought conditions in the southern growing belt, and USDA supply/demand reports. The March contract is typically the most liquid.
| Specification | Details |
|---|---|
| Contract Size | 50,000 pounds (approximately 100 bales) |
| Tick Size | $0.0001 per pound = $5.00 per contract |
| Price Quote | US Dollars and cents per pound |
| Contract Months | Mar, May, Jul, Oct, Dec |
| Trading Hours | Monday – Friday 8:00 AM – 2:20 PM ET |
| Last Trading Day | 17th business day prior to the end of the spot month |
| First Notice Day | 5th business day prior to the first business day of the delivery month |
| Settlement Method | Physical Delivery |
Sugar No. 11 is the world benchmark for raw cane sugar prices. Brazil is by far the world's largest sugar producer and exporter, and the Brazilian Real/USD exchange rate has an outsized influence on sugar prices. Sugar is also used for ethanol production in Brazil, creating a direct link between sugar and crude oil prices. India, Thailand, and the EU are other major producers.
| Specification | Details |
|---|---|
| Contract Size | 112,000 pounds (50 long tons) |
| Tick Size | $0.0001 per pound = $11.20 per contract |
| Price Quote | US Dollars and cents per pound |
| Contract Months | Mar, May, Jul, Oct |
| Trading Hours | Monday – Friday 2:30 AM – 2:00 PM ET |
| Last Trading Day | Last business day of the month preceding the delivery month |
| First Notice Day | Last business day of the month preceding the delivery month |
| Settlement Method | Physical Delivery |
Trade soft commodity futures at Discount Trading with $0.49 or less per contract commission on standard futures and ultra-low day trading margins. Our 24/6 trade support desk is available during all market hours.
