US coffee futures dipped for the second consecutive session, with market participants focusing on spread trading a day ahead of options expiration, traders said. The New York Board of Trade's front-month December arabica contract eased 0.15 cent to settle at $1.0675 a lb, after trading from $1.0570 to $1.0760.
Noncommercial players have been rolling their positions out of the December contract ahead of its first notice day for delivery on November 18. Many of the December positions have been rolled into the March contract, which likewise lost 0.15 cent to end at $1.1060.