US MIDDAY: coffee higher on producer selling

01 Oct, 2005

US coffee futures settled a shade higher on Friday after early producer selling waned and speculators and roasters went long ahead of the weekend, traders said.
"We saw a little bit of spec buying. It's the end of the month, end of the quarter so the bulls went home long a little bit," said a trader.
The New York Board of Trade's active arabica contract for December delivery rose 0.50 cent to settle at 93.45 cents a lb, after trading from 90.30 to 93.80 cents. March climbed 0.55 cent to 96.80 cents a lb, while more distant arabicas advanced 0.45 to 0.95 cent.
Turnover fetched an estimated 10,861 contracts, said a trader. That compared with the official tally of 15,771 contracts the previous session.

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