New York coffee settles with losses

Arabica benchmark coffee futures finished moderately lower on Friday, with a rainy weather forecast in Brazil's coffee growing region dampening prices, traders said. Some players had built speculative long positions based on recent dry conditions in the Brazilian arabica crop, some of which were unwound with Friday's wet forecast, traders said.
The New York Board of Trade's arabica coffee contract for December delivery ended 0.60 cent lower at $1.0390 a lb. The range slipped to a $1.0350 low, with a $1.0460 high. March coffee futures also lost 0.60 cent by the close at $1.0785 a lb.