960412

Coffee higher

NEW YORK: CSCE coffee futures were higher and near the top of the session's narrow range at midday, lifted by trade and local buying, industry sources said.

Dealers said producer price fixing weighed on the market and frustrated locals hunting for stops above 120.00 cents a lb in the nearby May contract.

At 1137 EDT, May coffee was 1.90 higher at 119.00 cents a lb, after trading between 119.40 and 116.50. Second-month July was up 1.50 at 118.60, while the back months were 0.25 to 0.85 firmer.

"We're still waiting for any news to give the market direction," one dealer said. "Until then we're trading on the technical aspects of the market."

Volume as of 1100 EDT was an estimated 3,402 lots.-Reuter