The New York Board of Trade's active December arabica contract settled up 0.45 cent at 97.10 cents a lb., after trading from 96 cents to 97.75 cents.
December's bottom trade was the weakest since October 7 and about 8.8 percent lower than last week's peak of $1.0525 a lb. Among other arabicas, March likewise edged up 0.45 cent to end at $1.0065 a lb., and back month contracts advanced 0.45 to 0.80 cents.
But the bulls should not celebrate just yet, traders said. "Although we settled 0.45 cents higher, I think the market is still weak and I don't see a lot of buying," said Rodrigo Costa, vice president of institutional sales at Fimat USA.
"Fundamentally the picture is much more positive, but we don't see anyone really stepping in (to buy)," he said. Costa said roasters were likely to support the December contract at 95 cents, while producers were looking to sell above $1 a lb.
"At this point people are more focused on the December-March spread," he added, pointing out non-commercial players have started to roll out of their December positions ahead of the contract's first notice day for delivery on November 18.
NYBOT arabica futures trading volume reached an estimated 13,202 contracts, compared with the official tally of 16,939 lots the previous day.
On the fundamental front, market sources anticipate a short-term supply squeeze exacerbated by crop losses and harvest delays in Central America and southern Mexico in the aftermath of natural disasters over the past month.
Meanwhile, rains in top coffee grower Brazil aid development of next year's crop, which many traders expect will be larger than the 2005/06 season's estimated 33 million to 38 million 60-kg bags.