September ICE NY cocoa (CCU24) today is down -313 (-3.54%), and September ICE London cocoa #7 (CAU24) is down -69 (-1.07%). Cocoa prices today are sharply lower due to an improved outlook for the next cocoa season in West Africa. The end of the El Nino weather pattern and a potential shift to a La Nina pattern should boost precipitation in the Ivory Coast and Ghana, increasing soil moisture levels and cocoa yields. An increase in cocoa production by Cameroon, the world’s fifth-largest cocoa producer, is bearish for cocoa prices. Cameroon’s National Cocoa and Coffee Board reported last Wednesda…