Benchmark arabica coffee futures fell 0.8 percent Wednesday as market players trimmed their long positions following a failed attempt to extend the previous session's gains of more than 4 percent, traders said.
The New York Board of Trade's September arabica contract settled at $1.0575 a lb., down 0.85 cent, or 0.8 percent, on the day. The contract bottomed at $1.0570 and peaked at $1.0730, which was 0.40 cent above the previous session's top trade and a fresh 19-day high.
Among other contracts, December slid 0.80 cent to $1.1030 a lb, and more distant deliveries shed 0.40 to 0.80 cent.
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