Arabica Futures Climb to $1.1750/Pound, Highest Since Oct. 16

  NEW YORK  -  Arabica-coffee futures climbed to a near 10-week high on Monday as investors covered

bets that prices would continue to fall, booking profits ahead of the end of the year.

  "We don't see anything fundamental or any other news" that would push prices up, said Andre

Santos, a trader at Ally Brazilian Coffee Merchants in Plantation, Fla.

  Futures jumped as the market passed through the key technical and psychological level of 17 cents

a pound, triggering preplaced orders to cover short positions.

  Arabica coffee for March delivery on the ICE Futures U.S. exchange was recently 1.6% higher at

$1.1710 a pound, down from $1.1750 a pound, the highest intraday level since Oct. 16.