4-838: The New York Cocoa Exchange was a commodities exchange in New York City where futures contracts on cocoa were bought and sold. The exchange was located at 82 Beaver Street in Manhattan for most of its existence. On September 28, 1979, the New York Coffee and Sugar Exchange merged with the New York Cocoa Exchange and the New York Coffee and Sugar Exchange merged to become the Coffee, Sugar and Cocoa Exchange . That exchange later merged with
8-545: The New York Board of Trade , in turn acquired by IntercontinentalExchange , which operates its American futures operations as ICE Futures U.S. IntercontinentalExchange states that the ICE Futures U.S. Cocoa contract "is the benchmark for world cocoa prices." Commodities exchange A commodities exchange is an exchange , or market, where various commodities are traded. Most commodity markets around
12-403: The commodity will be delivered at some agreed future date. A farmer raising corn can sell a futures contract on his corn, which will not be harvested for several months, and gets a guarantee of the price he will be paid when he delivers; a breakfast cereal producer buys the contract and gets a guarantee that the price will not go up when it is delivered. This protects the farmer from price drops and
16-444: The world trade in agricultural products and other raw materials (like wheat , barley , sugar , maize , cotton , cocoa , coffee , milk products, pork bellies , oil , and metals ). Trading includes various types of derivatives contracts based on these commodities, such as forwards , futures and options , as well as spot trades (for immediate delivery). A futures contract provides that an agreed quantity and quality of
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