US nearby coffee futures fell 2 percent Friday, depressed by funds liquidating long positions and speculators banking profits ahead of the weekend following a week of lofty gains, traders said.
The New York Board of Trade's active December arabica contract slid 2.25 cents to settle at $1.0345 a lb, after trading from $1.0270 to $1.0670.
The benchmark arabica failed to penetrate Tuesday's ceiling of $1.0680, which was the highest trade since August 15. Other arabicas retreated from the week's peaks as well. March arabica dipped 2.05 cents to end at $1.0655 a lb, while back month contracts shed 1.05 to 1.95 cents.
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