Thursday 13 June 2024
  • La Cimbali

Arabica futures prices extend gains after hitting 12-year lows last week

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Arabica futures prices closed higher for the third consecutive session supported by strengthening of the Brazilian currency, updates from India’s growing regions and short covering following last week’s data showing speculators holding record net short positions.

The most active contract for December delivery settled 105 points higher at $1.0575 per lb. marking a third straight session in positive territory since last week’s 12-year lows hit on Wednesday.

Non-Commercials hold a record net short position

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