US MIDDAY: CSCE coffee future falls

CSCE coffee futures fell 4 percent to touch a two-week low Wednesday as commodity funds sold, reducing their record long position before the approach of first notice day, brokers said.
"First notice day is February 19 and the funds are getting out of some longs and rolling others," said one broker, referring to the date when coffee traders can tender or make delivery of the physical commodity.
The benchmark March coffee future was trading 2.15 cents lower at 72.50 cents per lb at 1159 EST (1659 GMT), bouncing away from the bottom of its 71.60 to 74.00 trading range.
Bean prices were testing levels last seen on January 20, a two-week low.
Traders said some light buying from roasters and speculative bottom-picking cut the day's losses.