Arabica coffee futures lost just under 1 percent Friday after producers and speculators sold into a new six-week peak, market sources said.
The New York Board of Trade's active July arabica coffee contract fell 1.0 cent to settle at $1.1440 per lb after trading from $1.1350 to a new six-week peak of $1.1640. The July position has climbed about 9 percent since hitting a three-week bottom of $1.0660 on April 13. Producers were keen to sell into the rising price.
Among other arabicas, the September contract lost 0.95 cent to $1.1705 and back months retreated 0.90 to 1.15 cents.