US MIDDAY: coffee higher on fund buying

24 Aug, 2005

US benchmark arabica coffee futures rose 2 percent to end at an 11-day high on Tuesday, boosted by fund buying amid a tighter spread in the two front-month contracts, traders said. The New York Board of Trade's most-active arabica contract for December delivery gained 2.05 cents to settle at $1.0275 a lb., after trading from $1.0110 to $1.0370.
The front-month September contract, which had its first notice for delivery Tuesday, concluded at $0.9895 a lb., up 2.60 cents.
Longer-dated arabica contracts finished 1.45 to 1.90 cents higher from the previous session.

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