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US MIDDAY: coffee jumps by strong technical signals

05 Aug, 2005

New York Board of Trade nearby coffee futures ended up 0.5 percent Thursday as market players reined in earlier gains led by strong technical signals, traders said. The NYBOT's front-month September arabica contract rose 0.50 cent to $1.0625 a lb, after trading from $1.0550 to a fresh 3-week high of $1.0850.
Among other arabica contracts, December likewise gained 0.50 to finish at $1.1080 and the back months advanced 0.30 to 0.45 cent.
Volume amounted to an estimated 11,583 contracts, up from the previous day's tally of 10,849 lots.

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