July ICE NY cocoa (CCN24) on Thursday closed down -450 (-5.74%), and July ICE London cocoa #7 (CAN24) closed down -325 (-4.96%). Cocoa prices posted sharp losses on Thursday as the market continued its volatile price swings. Price moves in cocoa have been amplified by a lack of liquidity, with open interest in cocoa futures near the lowest in over a decade. Last Friday’s weekly Commitment of Traders (COT) report showed long-only positions in NY cocoa futures in the week ending May 7 fell to a four-year low, and short-only positions fell to the lowest in more than nine years. Cocoa prices sank …