May ICE NY cocoa (CCK24) on Friday closed up +614 (+5.92%), and May ICE London cocoa #7 (CAK24) closed up +416 (+4.85%). Cocoa prices Friday soared to new all-time highs. Concern that global cocoa supplies will continue to shrink in the coming months is pushing prices to new record highs. Due to limited supplies, global cocoa grinders are paying up in the cash market to secure cocoa supplies this year due to growing concerns that West African cocoa suppliers may default on supply contracts. Bloomberg reported Thursday that the Ghana Cocoa Board is negotiating with major cocoa traders to postpo…