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Dry Brazilian weather, fund buying boosts arabica coffee

Arabica coffee futures settled higher on fund short-covering, fuelled by both technical factors and some concern about hot and dry weather in Brazil.

March robusta coffee was up $2, or 0.1 percent, at $1,546 a tonne.

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Dealers said buying appetite was lacklustre, as roasters remained well covered and reluctant to take on more supplies.

US soft commodity markets were closed on Monday for the Martin Luther King Jr. Day holiday and will reopen on Tuesday.

Also read  Arabica coffee prices climb on supply tight

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