We present UVES/VLT observations of the nearby flare star CN Leo covering the Wing-Ford FeH band near 1mu with high spectral resolution. Some of the FeH absorption lines in this band are magnetically sensitive and allow a measurement of the mean magnetic flux on CN Leo. Our observations, covering three nights separated by 48 hours each, allow a clear detection of a mean magnetic field of Bf~2.2kG. The differential flux measurements show a night-to-night variability with extremely high significance. Finally, our data strongly suggest magnetic flux variability on time scales as low as 6 hours in line with chromospheric variability.