NYBOT arabica coffee futures settled Tuesday at a fresh 3-week low on speculative and options-related sales, although brisk roaster buying pared losses in the market and should help coffee consolidate in the days ahead, brokers said.
Key September arabica eased 0.70 cent to conclude at 67.95 cents a lb, ranging from 67.80 to 68.40 cents. It was the lowest close for coffee on a spot basis since ending at 67.80 cents in early July 2004. December fell 0.75 to 71.25 cents. Distant months retreated 0.55 to 0.70 cent.
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