US MIDDAY: coffee extends gains on tight supply

01 Sep, 2005

US coffee futures rose Wednesday for the second consecutive session amid lingering worries about supply tightness and damage to coffee storage and roasting facilities in hurricane-stricken Louisiana.
The New York Board of Trade's washed-arabica contract for December delivery rose 3.05 cents, or 3.1 percent, to settle at $1.0105 cents a lb, after initially surging to a one-week high $1.03 a lb at the start of trading. March arabica advanced 2.95 cents to $1.0440 cents a lb, and back month contracts advanced 1.20 to 2.95 cents.

Read Comments