US arabica coffee futures settled up more than 2 percent at a three-week high Wednesday, bolstered by speculative buying on colder-than-expected temperatures in top coffee producer Brazil, market sources said.
The New York Board of Trade's active coffee contract for September delivery climbed 2.40 cents to settle at 99.10 cents a lb, the contract's loftiest finish since June 8, after trading from 97.10 cents to 99.90 cents.
Back month arabica futures climbed 2.35 to 2.45 cents while front-month July gained 2.35 cents to 97.70 cents a lb.