US coffee futures climbed Wednesday for the second straight session on a lack of producer selling, shrugging off prospects of rising supply of the world's 2004/05 crop, traders and analysts said.
Prices rose more than 1 percent across the board on light industry buying, coupled with speculative short-covering as producers awaited higher prices to sell.
"Origin (producers) had the opportunity to sell the market above 78 cents last week...and they are not selling it here," a trader said.
NYBOT most-active December arabica climbed 1.45 cents or 1.9 percent to settle at 77.15 cents a lb after trading from 75.30 to 77.50 cents. March likewise rose 1.45 to 80.20 cents and the rest of the board gained 1.05 to 1.30 cents.