US MIDDAY: coffee higher on light roaster buying

01 Apr, 2005

New York arabica coffee futures settled up but below session highs Thursday as speculator and some light roaster buying lifted the market before end of the month and quarter-end book-squaring pared the gains, brokers said. New York Board of Trade front-month May settled up 1.40 cents at $1.2640 per lb after trading from $1.2510 to $1.2775. July advanced 1.45 to $1.2925 cents and distant deliveries rose 0.85 to 1.45 cents.
Estimated final trading volume amounted to 16,000 contracts, down from Wednesday's official count of 17,256 lots.
At 1:40 pm EST (1645 GMT), the Reuters CRB index of 17 commodity futures was up 1.38 percent at 315.32, from Wednesday's settlement at 311.02. The index hit a 24-year high at 323.33 on March 16.

Read Comments