May ICE NY cocoa (CCK24) on Friday closed up +396 (+6.76%), and Mar ICE London cocoa #7 (CAH24) closed up +318 (+6.05%). Cocoa prices on Friday soared, with May NY cocoa posting a contract high and Mar NY cocoa and Mar London cocoa posting all-time nearest-futures highs. Concerns about global cocoa production and widening global cocoa deficits have sparked panic buying of cocoa futures. On Wednesday, the Ghana Cocoa Board cut its 2023/24 Ghana cocoa production estimate to a 14-year low of 650,000-700,000 MT from a previous forecast of 850,000 MT, citing smuggling and unfavorable weather. Ghana…