US arabica coffee edged up to a higher close for the fourth straight day on Friday, continuing a gradual consolidation after falling sharply to a five-week low in the week, traders said.
"(There was) light producer selling against a mixed-bag of processor buying. Maybe a little bit of fund buying," one trader said, adding some participants did routine book squaring as it was the end of the month and second quarter.
NYBOT open-outcry July coffee settled up 0.20 cent at $1.1100 a lb., while benchmark September rose the same at $1.1280 a lb., moving from $1.1195 to $1.1320.
The rest finished in a range from 0.35 higher to 0.40 cent lower. On the ICE New York Board of Trade electronic platform at 1:27 pm EDT (1727 GMT), September coffee was 0.55 cent higher at $1.1315 a lb.
Life's September coffee closed up $6 at $1,875, in a trading band from $1,863 to $1,879. NYBOT estimated 4,127 lots traded in New York open-outcry compared to the 3,460 lots officially tallied in floor trade on Thursday, when 12,347 contracts traded on the ICE screen.
As of June 28, open interest climbed 739 lots to 154,712 contracts. In the No 1 producer, Brazil's coffee crop will get warmer and drier weather through July 10 as a cold front vacates the south-eastern part of the country, private meteorologist Soma predicted on Friday.
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