New York coffee climbs

Arabica coffee futures posted modest gains on Friday, although a lull in seasonal activity kept front-month prices within a narrow trading band for the fourth consecutive session, traders said. Physical business is very quiet," said Fernando de la Roach, senior vice president of Hencoop Coffee Group. "The roasters are buying, but they are putting their orders underneath (the nearby futures contract). Demand is slower for the summer," he added. The front month July arabica contract crept up 0.20 cent to settle at $1.17 a lb. on the New York Board of Trade, after trading in a range from $1.1625 to $1.18. It traded between $1.16 and $1.2075 all week.