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Monday, February 28, 2011

coffee prices today trading: Arabica, Robusta futures in New York , london Market 28 february 2011

coffee prices today trading: Arabica, Robusta futures in New York , london Market 28 february 2011 : Arabica futures in New York rebounded amid new interest in most soft commodities markets as oil levelled off from recent peaks after its price spike had taken interest into energy and out of agricultural commodities. Despite the two-day pullback in prices in the middle of last week, the longer-term bull trend remains intact, mostly due to the continued tight supply situation. .

The nearby March contract gained 3.50 cents to finish at 267.70 cents/lb, while the benchmark May contract settled at 267.80 cents/lb, up 3.15 cents, in dealings from 264.55 to 269.00 cents. The rest of the board finished between 2.75 and 5.05 cents higher where the more deferred contracts recorded the stronger gains. Total estimated futures volume dropped to 9,486 lots from 16,058 the previous session.

Robusta futures in London also finished up, swept higher as investors bought back positions they had liquidated before on fears about the effects of the recent unrest in the Middle East and Libya on the world economy. The March contract finished at $2,288 per tonne, slightly up by $3 after trading in a $2,278 to $2,315 range. The most-active May contract gained $12 to close at $2,339 a tonne in dealings from $2,318 to $2,345. The back months finished mixed, between $2 down and $9 up. Total estimated futures volume decreased to 16,688 lots from 21,975 previously. For the latest updates PRESS CTR + D or visit Stock Market news Today

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