March ICE NY cocoa (CCH24) on Wednesday closed +151 (+3.26%), and Mar ICE London cocoa #7 (CAH24) closed +64 (+1.72%). Cocoa prices on Wednesday rallied sharply, with London cocoa posting a record high. Tight global cocoa supplies support a parabolic rally in cocoa as NY cocoa posted a 46-year high on Tuesday. Cocoa production is declining as the Ivory Coast government reported Monday that Ivory Coast farmers shipped 951,710 MT of cocoa to ports from October 1 to January 21, down -37% from the same time last year. The Ivory Coast is the world’s largest cocoa producer. Smaller cocoa exports fro…