Arabica coffee futures closed quietly higher early on Tuesday, but below another 10-year high, on heavy position rolling out of the March contract into May, traders said. In open-outcry, the key ICE May arabica coffee contract settled 0.05 cent higher at $1.5055 per lb while the rest ended up the same.
The May arabica contract trading on the screen was down 0.75 cent at $1.4975 cents at 1:56 pm EST (1856 GMT), with trades spanning $1.4915 and $1.513, a high dating back to March 1998 for the second month on a monthly continuation chart. The rest ranged from 0.15 cent higher to 0.70 cent lower.