July ICE NY cocoa (CCN24) on Wednesday closed up +529 (+6.03%), and July ICE London cocoa #7 (CAN24) closed up +464 (+6.55%). Cocoa prices Wednesday rallied sharply for a second day, with NY cocoa posting a 3-week high and London cocoa posting a 2-week high. Inadequate rain in West Africa is causing an uncertain outlook for cocoa production in the region and is boosting prices. Lower cocoa production in the Ivory Coast, the world’s largest producer, is a major bullish factor for cocoa prices. Government data Monday showed that Ivory Coast farmers shipped 1.46 MMT of cocoa to ports from October…