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Arabica coffee futures in New York close higher for third straight session

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MILAN – Arabica Coffee futures in New York reached new highs on Tuesday over renewed concerns that the Brazilian harvest may turn out to be lower than estimated.

The benchmark contract for September delivery closed at142.75 cents a pound, its highest close since April 18. Trading focused on technical factors. The market crossed above the five-year moving average and is just shy of the 200-day moving average

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