Arabica coffee futures edged up Tuesday, with speculative short covering amid a general rally in commodity markets helping arabica prices recover slightly from four straight sessions of declines, traders said.
The New York Board of Trade's active coffee contract for July delivery rose 1.30 cents to settle at $1.0890 per lb, after trading from a four-week low of $1.0675 to $1.0930.
"The market attempted to breach the previous $1.0640 low but was unable to due to substantial industry and trade buying," said a trader at a large commodity trade house.