NY Cocoa Lower On Demand Worries

March Cocoa Is trading lower at 2966, down 27 Wednesday morning. European quarterly Cocoa grinding data due out January 15 is in focus. North America fourth quarter grinding data will also be released on January 15. Estimates are wide and traders expect anywhere from a 4 percent decline to a 2 percent increase from last year. Chatter is that trading will be choppy.