US coffee futures got a boost Tuesday from light roaster buying coupled with speculative short-covering after prices failed to hold below a key technical support level, traders said. The most-active December arabica contract advanced 1.50 cent to settle at 75.70 cents a pound on the New York Board of Trade, after trading from 73.90 cents to 75.80 cents.
"We had some light roaster buying when we were lower on the day and that had locals buying the rest of the day - mostly covering shorts," a trader said.
Among longer-dated contracts, March likewise gained 1.50 cent to 78.75 cents, and the rest climbed 1.50 cent to 1.85 cent.
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