London robusta coffee futures edged up in quiet trade at midday on Thursday on speculative buying, and traders said the market was consolidating ahead of a likely push soon towards five-year highs. May was up $17 at $1,017 in volume of 1,270 lots at 1228 GMT, having traded between $1,021 and $999. July was up $18 at $1,043 in volume of 574 lots, after trading between $1,047 and $1,025.
"The speculative element is in the market, but there is a lack of fundamental news. The specs are pushing on," one trader said. "Specs are on both sides of the market."
Traders said a likely push higher towards a five-year continuation high in May of $1,050 soon would probably be driven by funds.
Some said the recent flurry of buying of coffee futures might be overdone, risking bursts of profit-taking, but underlying sentiment remained positive.
In Brazil's coffee market, dealings were subdued this week due to world market volatility, traders said, adding that sentiment remained bullish because of an expected smaller Brazilian crop and world supply deficit.
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