The US benchmark arabica coffee futures price closed at its highest level in 5-1/2 weeks on Tuesday, as speculative buying and strong technical signals helped extend the previous session's gains, traders said. The New York Board of Trade's benchmark July arabica contract rose 1.65 cents, or 1.3 percent, to settle at $1.2575 a lb, the loftiest finish since April 29, after dealing from $1.2360 to $1.26.
September likewised concluded 1.65 cents higher at $1.29, while back month arabicas advanced 1.55 to 1.65 cents.