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Coffee futures

settle firmer

NEW YORK: CSCE arabica coffee strengthened Thursday to settle near the top of its recent range, but failed to decisively break through technical resistance, trading sources said.

Traders said today's trading was primarily technically-driven, with no fresh fundamental developments to rouse the market from its summer doldrums.

September coffee climbed 2.25 cents a lb, to 147.00 cents, with trades posted from 144.80 to 148.00. December rose 2.25, to 145.35 cents, while the outer months gained 2.35 and 2.40 cents.

An estimated 5,930 lots changed hands on the day.

Heavy buy stops were placed above 148.00 cents for September, but traders said a close near 150.00 was necessary to inspire a technical breakout.

New York physical coffee differentials lingered near unchanged Thursday, market sources said.

Roaster buying interest continues to improve, dealers said, but purchases remain spotty and generally limited to small quantities.

At CSCE, September arabica coffee rose 2.25 cents a lb, to 147.00 cents. London September robusta futures rose $12 a tonne, to $2,785.-Reuter