Arabica Futures Bounce From More-Than-7-Year Low

NEW YORK  -  Arabica-coffee futures edged higher Thursday morning as some

traders took profits from bets that prices would continue to fall after the

market settled at a more-than-seven-year low last session.

  Arabica futures have been under pressure recently as growers in Central

America and Colombia bring in their harvests, following back-to-back bumper

harvests from No. 1 producer Brazil.

  Arabica coffee for December delivery on the ICE Futures U.S. exchange was

recently 0.6% higher at $1.0210 a pound, up from a fresh more-than-seven-year

intraday low of $1.0095 a pound.

  The International Coffee Organization, a London-based trade group, expects

global arabica-coffee supplies to outpace demand by four million bags in the

season that began Oct. 1. Those supplies should continue to pressure prices in

the near-term, traders and analysts said.