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Coffee slightly weaker

NEW YORK: CSCE arabica coffee futures edged lower in listless midday dealings amid light selling by day traders, industry sources said.

With little fresh news to influence price direction, summer slugishness prevailed in the market this morning. Traders said volume would likely remain light until after the upcoming U.S. Labor Day holiday.

The market displayed little reaction to stock data released late Monday showing yet another decline in U.S. warehouse stocks. CSCE certified stocks fell by 65,167 60-kg bags as of August 25, to 557,289.

Traders watched with interest weather news from Brazil, where unsually dry weather sparked concerns last year's drought might be repeated. No rain was forecast in the coffee growing regions through next Sunday, according to independent forecaster Weather Services Corp.

December was down 1.30 cents a lb as of 1212 EDT, to 154.50, after trading from 153.60 to 156.70. Spot September was down 1.40, to 152.50.-Reuter