September ICE NY cocoa (CCU24) today is up +418 (+5.75%), and July ICE London cocoa #7 (CAN24) is up +332 (+4.64%). Cocoa prices today are sharply higher, recovering most of Thursday’s sharp losses. The price movement in cocoa remains highly volatile, and little news can move prices dramatically. Short-covering today pushed prices sharply higher after ICE-monitored cocoa inventories held in US ports fell to a 3-1/3 year low of 3,237,552 bags Wednesday. Lower cocoa production in the Ivory Coast, the world’s largest producer, is a bullish price factor. Government data Monday showed that Ivory Co…