September ICE NY cocoa (CCU24) today is down -560 (-7.19%), and July ICE London cocoa #7 (CAN24) is down -804 (-10.29%). Cocoa prices today are sharply lower, with London cocoa falling to a 4-week low. Favorable weather has moved into West Africa and is undercutting cocoa prices. Forecaster Maxar Technologies said today that cocoa crops will continue to develop amid “more showers and favorable soil moisture.” Demand concerns are also a negative factor for cocoa prices. Last Wednesday, chocolate producer Nestle SA predicted that consumers would cut back on chocolate purchases as the recent hist…