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Arabica coffee jumped to a three-week high

Arabica coffee jumped more than 5% to a three-week high.

December arabica coffee settled up 3.35 cents, or 1.5%, at $2.238 per lb after gaining more than 5% earlier, extending its rebound from a one-month low of $2.1085 set a week ago.

Dealers said the market continued to derive support from low exchange stocks and recent downward revisions to this year’s crop in top producer Brazil.

November robusta coffee  fell $28, or 1.3%, at $2,204 a tonne.

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