Benchmark May coffee fell 0.90 cent per lb, to settle at 106.40 cents, after ranging between 107.70 and 105.80 cents. Second-month July closed down 0.75 cent to 108.00 cents, while the rest of the board lost 0.85 to 1.00 cent.New York coffee futures headed higher from the outset today, but prices came in short of up 1.00 cent pre-opening expectations as Monday's weak finish spurred follow-through selling, traders said.

Some traders said market weakness over the last two session may have stemmed from weekend news reports claiming that finance minister Juan Camilo Restrepo favoured weakening the peso to help spur growth in Colombian exports.

"The specs bailed out again," said one trader. "There's talk about a devaluation, or widening the band, in Colombia. I don't care how they say it, if you make the peso cheaper, coffee becomes cheaper."

Colombiais the world's second largest coffee producer after Brazil. A devaluation of the Brazilian currency, the real, in January took a toll on coffee prices as the country's producers and exporters sold dollar-denominated coffee to realise greater profits.

Otherwise, traders said switches accounted for a fair portion of today's estimated 7,435-lot volume, with the nearby May/July switch coming under a bit of pressure. May/July contango finished at 1.60 cents, compared with 1.45 cents at the close on Monday.

Despite Tuesday's downturn, some traders were encouraged by the May contract's ability to hold above chart support at 105.30 cents. However, resistance also proved elusive, with May unable to test the 108.50-cents mark early on.

After Tuesday's close, CSCE reported certified coffee stocks rose by 2,950 (60-kg) bags as of April 5, to 247,427 bags. There were 35,605 bags pending grading.

CSCE also reported 6,494 bags of coffee were graded and 3,000 bags were approved by the exchange. CSCE is a subsidiaryof the New York Board of Trade.

Meanwhile, CSCE cocoa futures ended weaker in light, roller-coaster trade today, recovering from an opening downturn to new contract lows but unable to hang on to afternoon gains.

Benchmark May cocoa finished down $2 per tonne, to $1,149, after ranging from $1,162 to the new life-of-contract low of $1,142. Second-month July closed at $1,177, also down $2, while the rest of the board lost $5 to $8.New York cocoa gapped to new contract lows at the outset Tuesday, as weakness in the British pound against the US dollar spurred arbitrage sales, traders said.

"Sterling was down -- we were called lower on that -- and there was arb selling in New York," said one trader.