Front-month arabica coffee futures settled at a new eight-month low Friday, reversing early gains after a late round of speculative selling amid active spread and options-related trading, traders said.
The New York Board of Trade's active coffee contract for July delivery eased 0.55 cent to finish at 95.90 cents per lb., the weakest settlement for the contract since September 26, 2005. September slid the same to end at 98.70 cents a lb., while back month contracts ended down 0.50 cent to up 0.40 cent.
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