CSCE coffee futures finished higher Friday on speculative buying but the market remains pinned in a trading band and will likely stay there going into next week, analysts said.
CSCE July arabica climbed 0.85 cent to finish at 72.35 cents a lb, moving from 71.15 to 72.80 cents.
It was an inside day since the range was within Thursday's 71 to 73.30 cents trading band.
September added 0.80 cent to 74.55 cents. Except for one contract, back months increased 0.85 cent.
Technicians feel resistance for the July arabica contract would be at 72.50 and 73.80 cents. Support was pegged at 71 and 69.20 cents.
Final estimated traded volume stood at 6,625 lots versus the prior tally of 10,416 lots. Call volume stood at 6,248 lots while puts stood at 1,960 lots.
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