Benchmark arabica coffee futures retreated from recent five-year highs and a new contract peak Wednesday after short-term speculators banked profits, traders and brokers said. The New York Board of Trade's most-active May arabica contract fell 1.10 cents to settle at $1.1950 a lb, after dealing from $1.190 to a new contract high $1.2150. On a continuation basis, the top trade was the highest for a second-month contract since January 13, 2000.

Copyright Reuters, 2005