ICE US · Softs · Futures

Coffee "C" Futures (KC)

ICE Coffee "C" (KC) is the global arabica coffee benchmark: 37,500 pounds, physically delivered from licensed warehouses.

Live KC chart on TradingView Affiliate link

COT data as of Sep 22, 2026 · Margins as of Sep 30, 2026 · Roll & expiry dates checked daily

Tick size / value: 0.05 ¢/lb = $18.75
Point value: $375 / 1¢
Active contract: KCZ26 Dec 2026
Next roll: Nov 16 in 48 days
ICE right now: Checking…

Contract specifications

Exchange: ICE Futures U.S.
Underlying: Washed arabica coffee
Contract unit: 37,500 pounds
Minimum tick: 0.05 cent per pound = $18.75 per contract
Point value: $375.00 per 1 cent per pound · 20 ticks per 1¢
Price quotation: U.S. cents per pound
Contract months: March, May, July, September, December (H, K, N, U, Z)
Settlement: Physical delivery
Final settlement: Delivery from exchange-licensed warehouses
Termination of trading: One business day prior to the last notice day of the delivery month
Globex code: KC

Source: ICE Futures U.S. contract specifications · reviewed Sep 30, 2026

Roll dates, first notice & expiration

Contract	Roll date	First notice	Last trading day	Days left
KCZ26 Dec 2026 Active	Mon, Nov 16, 2026	Thu, Nov 19, 2026	Fri, Dec 18, 2026	80
KCH27 Mar 2027	Fri, Feb 12, 2027	Thu, Feb 18, 2027	Thu, Mar 18, 2027	170
KCK27 May 2027	Mon, Apr 19, 2027	Thu, Apr 22, 2027	Tue, May 18, 2027	231
KCN27 Jul 2027	Wed, Jun 16, 2027	Tue, Jun 22, 2027	Tue, Jul 20, 2027	294
KCU27 Sep 2027	Wed, Aug 18, 2027	Mon, Aug 23, 2027	Mon, Sep 20, 2027	356
KCZ27 Dec 2027	Tue, Nov 16, 2027	Fri, Nov 19, 2027	Mon, Dec 20, 2027	447

Roll. The date shown is three business days before first notice, when speculators roll to the next active month.

First notice day. Seven business days before the first business day of the delivery month. Longs must exit before this date to avoid delivery.

Last trading day. One business day before the last notice day (8 business days before the last business day of the delivery month).

US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18

Learn more: Futures roll dates explained · First notice day vs. last trading day

Calculated from exchange rules and the US exchange holiday calendar. Confirm with the ICE Futures U.S. expiration calendar.

Trading hours (ET / CT)

Session	Eastern (ET)	Central (CT)	Your time
ICE trading hours	Mon–Fri 4:15 a.m. – 1:30 p.m.	Mon–Fri 3:15 a.m. – 12:30 p.m.	–

Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).

Margins

ICE Futures U.S. maintenance margin per contract, outright position · as of Sep 30, 2026
Contract	Maintenance
KCZ26 Dec 2026 Active	$15,139
KCH27 Mar 2027	$12,288
KCK27 May 2027	$11,471
KCN27 Jul 2027	$11,059

Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.

Learn more: Futures margin explained

COT positioning

CFTC Disaggregated Report, futures only · positions as of Tue, Sep 22, 2026 · released Sep 25, 2026

Producers / Merchants

−12,534 net contracts

+7,912 vs. prior week · −8.2% of OI

COT Index 26 wk 88

COT Index 3 yr 95

Movement (6 wk): +29

Producers, merchants, processors and users hedging physical business – the classic commercials. They tend to buy weakness and sell strength.

Swap Dealers

+1,159 net contracts

−2,409 vs. prior week · +0.8% of OI

COT Index 26 wk 3

COT Index 3 yr 50

Movement (6 wk): +1

Swap dealers – banks hedging OTC swaps, including commodity index money. Often structurally positioned; read against their own range, not the sign.

Managed Money

+15,806 net contracts

−4,855 vs. prior week · +10.3% of OI

COT Index 26 wk 17

COT Index 3 yr 44

Movement (6 wk): −18

Managed money – CTAs, commodity pools and hedge funds. Trend followers; their positioning tends to peak near turning points.

Net positions, last 3 years contracts, long minus short

Producers / MerchantsSwap DealersManaged Money

COT Index, 3-year window 0 = most net short in 3 years, 100 = most net long · shaded: extreme zones

Producers / MerchantsManaged Money

Disaggregated Report · open interest 153,035 (+2,577 w/w)
Group	Long	Short	Net	Δ 1 wk	Δ 4 wk	Index 26 wk	Index 3 yr	Move 6 wk
Producers / Merchants	42,564	55,098	−12,534	+7,912	+22,895	88	95	+29
Swap Dealers	24,398	23,239	+1,159	−2,409	−561	3	50	+1
Managed Money	33,136	17,330	+15,806	−4,855	−15,382	17	44	−18
Other Reportables	8,744	14,277	−5,533	−342	−4,817	44	14	−1
Nonreportables	7,570	6,468	+1,102	−306	−2,135	48	35	−20

Legacy Report · open interest 153,035 (+2,577 w/w) · WILLCO (26 wk, commercials vs. OI): 74
Group	Long	Short	Net	Δ 1 wk	Δ 4 wk	Index 26 wk	Index 3 yr	Move 6 wk
Commercials	71,417	82,792	−11,375	+5,503	+22,334	80	73	+23
Non-Commercials	41,880	31,607	+10,273	−5,197	−20,199	17	28	−22
Nonreportables (small)	7,570	6,468	+1,102	−306	−2,135	48	35	−20

Weekly net positions, last 12 reports (Disaggregated Report)

Report date	Producers / Merchants	Swap Dealers	Managed Money	Other Reportables	Nonreportables	Open interest
Sep 22, 2026	−12,534	+1,159	+15,806	−5,533	+1,102	153,035
Sep 15, 2026	−20,446	+3,568	+20,661	−5,191	+1,408	150,458
Sep 8, 2026	−22,668	+3,028	+22,109	−4,108	+1,639	152,136
Sep 1, 2026	−28,761	+2,466	+26,729	−2,750	+2,316	155,275
Aug 25, 2026	−35,429	+1,720	+31,188	−716	+3,237	160,035
Aug 18, 2026	−35,046	+2,242	+31,612	−1,247	+2,439	163,299
Aug 11, 2026	−31,230	+1,803	+32,433	−5,254	+2,248	173,839
Aug 4, 2026	−27,973	+960	+31,441	−6,586	+2,158	168,814
Jul 28, 2026	−30,135	+1,320	+33,499	−6,091	+1,407	164,447
Jul 21, 2026	−30,410	+1,321	+33,219	−5,964	+1,834	163,057
Jul 14, 2026	−30,724	+1,274	+32,834	−5,007	+1,623	166,843
Jul 7, 2026	−29,294	+1,726	+34,454	−8,831	+1,945	174,440

Learn more: How to read the COT report · COT overview of all contracts

How to read these numbers

Net position = long minus short contracts (spread positions excluded).
COT Index = where today's net position sits within its range over the window: 100 × (net − min) / (max − min). It is a stochastic, not a percentile. Readings above 80 or below 20 are commonly treated as positioning extremes (after Stephen Briese and Larry Williams).
Movement Index = change of the 3-year COT Index over 6 weeks. Moves of ±40 points mark unusually fast repositioning.
WILLCO (Legacy report) = COT Index of commercials' net position as a share of open interest, 26-week window.
Positions are as of Tuesday and released Friday at 3:30 p.m. ET. COT data shows positioning, not timing – it is context, not a trading signal. Open-interest-based indicators are left out for stock index futures because quarterly expirations distort open interest.

Source: CFTC Public Reporting Environment · contract market code 083731 (COFFEE C - ICE FUTURES U.S.)

KC profit & loss calculator

Learn more: Tick value and point value explained

Before commissions and exchange fees. Prices round to the nearest tick of 0.05.

FAQ

What is the tick value of coffee futures (KC)?

One tick is 0.05 cent per pound, worth $18.75 per contract. A 1-cent move is worth $375.

What does the COT Index show?

The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.