US benchmark coffee futures rose nearly 2 percent to just above $1 a lb on Tuesday, extending the previous session's gains of 4 percent amid follow-through fund and speculative buying, traders said.
The New York Board of Trade's December arabica contract rose 1.85 cents to settle at $1.0075 a lb, after trading from 99.50 cents to $1.0170. The top trade was the loftiest for December delivery since September 6. Among other arabicas, March advanced 1.80 cents to end at $1.0390 a lb. More distant deliveries finished up 1.75 to 1.80 cents.
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