US benchmark arabica coffee futures settled at a three-month high Tuesday, bolstered by speculative buying and spread trading due to lingering worries about tight robusta supply, traders said.
The New York Board of Trade's benchmark arabica coffee contract for December delivery rose 1.65 cents to settle at $1.1260 a lb, the loftiest since May 10, after trading from $1.0970 to $1.1290.
Longer-term arabicas ended up 1.65 to 1.75 cents. The September contract, which has its first notice for delivery on Wednesday, rose 1.20 cents to finish at $1.0820.