By Julie Wernau 
 

Arabica coffee futures gained back lost ground Friday as traders bought futures to cover their short positions as commodities markets corrected higher, led by oil, following Thursday's rout.

Arabica coffee for May delivery rose 2.3% to settle at $1.1635 a pound on the ICE Futures U.S. exchange, its biggest percentage gain since Jan. 21.

The physical market for coffee has been quiet in the largest coffee growing regions, with the Carnival holiday in Brazil and the Tet holiday in Vietnam, said ED&F Man's Volcafe, but "buying is expected to reappear near the lows."

At the same time, raw sugar futures were "very choppy," said Joe Ricupero, vice president at RJO Futures in New York as long-only funds moved their positions out of the March contract and into the May contract, and traders attempted to pick up profits in the front month.

Raw sugar futures for March rose 0.6% to end at 13.15 cents a pound.

In other markets, cotton for March closed up 0.8% at 58.90 cents a pound, frozen concentrated orange juice futures for March fell 0.1% to close at $1.298 a pound and cocoa for May rose 2.6% to end at $2,879 a ton.

Write to Julie Wernau at

julie.wernau@wsj.com

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February 12, 2016 14:50 ET (19:50 GMT)