New York arabica coffee futures edged up Wednesday, with speculators pushing prices to a new six-week high amid lingering market worries about Central American crop damage fuelling a supply squeeze, traders said.
The New York Board of Trade's active December arabica contract climbed 0.55 cent to settle at $1.0130 a lb, after trading from 99.80 cents to $1.0240. It was the highest settlement since September 2.
Among other arabicas, March finished up 0.50 cent at $1.0440 a lb, while longer-dated deliveries advanced 0.15 to 0.40 cent.
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