September ICE NY cocoa (CCU24) today is down -113 (-1.39%), and September ICE London cocoa #7 (CAU24) is down -26 (-0.39%). Cocoa prices today are moderately lower on concern that recent record-high cocoa prices will lead to demand destruction. The consensus is that Thursday’s quarterly report from the European Cocoa Association will show European Q2 cocoa grinding fell -2% y/y to a 4-year low. Q2 Asian and North American cocoa grindings are also expected to decline when they are reported next week. On Tuesday, NY cocoa posted a 2-week high on lower cocoa production in the Ivory Coast, the wor…