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Natural gas climbed to a six-month high on speculation that government data today will show the U.S. supply surplus shrunk for a 15th week. Stockpiles of the fuel rose 33 billion cubic feet last week, according to the median of 16 analyst estimates compiled by Bloomberg. The five- year average gain is 74 billion, Energy Department data show.
WHAT TO WATCH (ALL TIMES NEW YORK) 4:00 a.m. LME Stockpiles 8:30 a.m. USDA Cotton, Corn, Soy and Wheat Net Export Sales 10:30 a.m. EIA Weekly Natural Gas Inventory Report 2:00 p.m. USDA Cattle, Hogs and Sheep Slaughters 3:00 p.m. USDA Milk Production and Cows 4:00 p.m. North America 2Q Cocoa Grindings TOP STORIES Natural Gas Closes at Six-Month High on Outlook for Inventories Soybeans, Corn Jump on Renewed Concern Drought Will Cut Harvests Crude Rises Over $90 on Housing Starts, Gasoline Inventories Wheat Gains for Sixth Session as More U.S. Dry Weather Forecast Dollar Falls Versus Commodity Currencies as Investors Seek Yield Orange Juice Has Longest Slump in 10 Weeks; Sugar, Coffee Gain Plant Closures Send U.S. Nuclear Output to 12-Year Seasonal Low Gold Falls Most in a Week as Bernanke Damps Stimulus Speculation Copper Rallies With Stocks as Housing Data Buoys Demand Outlook Cattle Prices Surge as Ranchers May Cut U.S. Herd; Hogs Advance ON THE FRONT PAGES Oil May Head Through Bellingham by Rail: Bellingham Herald Link YPF Seeks to Obtain Oil Licenses in Bolivia, La Razon Says China Seeks to Broaden Precious Metals Market Trading: WSJ ECONOMIC DATA (ALL TIMES NEW YORK) 1:00 a.m. Japan Leading Index CI 4:00 a.m. Euro-Zone Current Account 4:00 a.m. Italian Industrial Orders and Sales 4:30 a.m. U.K. Retail Sales 8:30 a.m. STCA Canada Wholesale Trade Report 8:30 a.m. U.S. Initial Jobless, Continuing Claims 9:45 a.m. Bloomberg U.S. Weekly Consumer Comfort Index 9:45 a.m. Bloomberg U.S. National Economy Status 10 a.m. Philadelphia Fed Business Outlook Survey 10 a.m. U.S. June Existing Home Sales 10 a.m. Conference Board U.S. Leading Economic Index TV HIGHLIGHTS (ALL TIMES NEW YORK) 6:00 a.m. Ellen Zentner, Nomura Securities International Inc. 6:45 a.m. Jonathan J. Miller, Miller Samuel Inc., on housing 7:00 a.m. Paul Miller, FBR Capital Markets, on bank earnings 7:30 a.m. Nicholas P. Heymann, analyst at William Blair & Co. 9:00 a.m. Thomas J. Lee, chief strategist at JPMorgan Chase 10:00 a.m. Charles Bradley Hintz, Sanford C Bernstein & Co. 3:00 p.m. John J. Koraleski, CEO of Union Pacific Corp. 3:08 p.m. Tom Porcelli, chief economist at RBC Capital Markets MARKETS (6:01 p.m. NY TIME): Last Chg %Chg WTI Crude Oil $89.87 +0.65 +0.73 Gasoline $2.8834 +3.84 +1.35 Natural Gas $2.973 +0.177 +6.33 Copper $347.30 +2.00 +0.58 Gold $1,570.80 -18.70 -1.18 Wheat $9.0325 +1.825 +2.06 U.S. Dollar Index 83.068 0.036 0.04 MSCI All-Country Index 312.58 +2.1 +0.68
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