US nearby coffee futures fell 3 percent to a 6-week low Tuesday, with follow-through fund selling and light roaster participation extending the previous session's 6 percent losses, market sources said.
The New York Board of Trade's front-month December arabica contract slid 3.35 cents to end at 96.50 cents a lb, the lowest settlement since October 7. March arabica shed 3.50 cents to settle at $1.0020, while back month arabicas erased 3.25 to 3.50 cents.
Turnover of arabica futures reached an estimated 28,741 contracts, fuelled in large part by December/March spread trading ahead of the front-month contract's first notice day for delivery on Friday.