US MIDDAY: coffee futures slump by light profit-taking

29 Apr, 2005

Nearby arabica coffee futures closed down nearly 2 percent Thursday, pressured by light speculative profit-taking from recent gains, traders said. The New York Board of Trade's benchmark July arabica contract shed 1.8 percent to $1.3090 per lb., near the bottom half of a trading range from $1.3050 to $1.3370. The arabica for September delivery likewise dipped 1.8 percent to $1.3345 a lb., while more distant arabicas finished down 1.8 to 1.9 percent.

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