Arabica coffee futures consolidated to settle higher Friday, paring earlier gains but moving rangebound in thin dealings as roasters bought on the way down, traders said. The December coffee contract rose 0.95 cent to close at $1.2230 a lb. Session range from $1.2170 to $1.2360. December volume reached a thin 4,966 lots by 1:53 pm EDT (1753 GMT).
Quiet, consolidative session after the market tapped a six-week low before rallying higher Wednesday - traders. Arabica futures climbed along with the firm commodity complex and early strength in equity markets, but pared gains as the morning's buying interest dried up - traders.
Fund and investor selling met scale-down roaster buying later in the session - traders. Mostly dry conditions with the chance of some light showers in the north-east parts of Brazil's main coffee growing regions, through Saturday, with similar conditions through Tuesday - DTN Meteorlogix. Episodes of showers and thundershowers have disrupted harvest and may affect crop quality - DTN Meteorlogix. Total volume Thursday at 9,455 lots, down from the previous 10,727 lots - ICE data. Total open interest at 94,300 lots as of August 27, up slightly from 93,761 lots the previous day - ICE exchange.
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