New York coffee futures retreated Friday as fund profit-taking ahead of the weekend checked an eight-day winning streak, traders said. On the New York Board of Trade, front-month December arabica sagged 0.95 cent to settle at 80.50 cents a lb after trading from 80.20 to 81.20 cents. March 2005 slid 0.90 cent to 84.45 cents and more distant futures shed 1 cent across the board.
Market players awaited fresh official estimates for top grower Brazil's coffee crop, which are expected early in December. Brazil will release its final estimate for the 2004/05 harvest and its first estimate for the next season.
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