COMMODITIES DAYBOOK: Corn Falls on Speculation of Slowing Demand
Corn fell the most in five weeks on speculation that demand is slowing after a crop-damaging U.S. drought sent prices to a record this month. Soybeans and wheat declined as rain aided parched fields from Kansas to Ohio.
WHAT TO WATCH: (ALL TIMES NEW YORK) 4:00 a.m. LME Stockpiles 6:00 a.m. South African Grain Imports, Exports 8:30 a.m. NOPA Soybean Processing for July 2:00 p.m. USDA Cattle, Hog Slaughter 4:30 p.m. API Crude Inventories TOP STORIES Corn Falls as Rally May Curb Demand; Soy, Wheat Drop on Rain Oil Falls as U.S. Equities Slip, Japan GDP Misses Expectations Gasoline Futures Drop on Speculation of Rise in Refinery Output Natural Gas Drops to a Six-Week Low on Milder U.S. Weather Copper Falls to One-Week Low on Signs of Slowing Chinese Demand Gold Drops for First Time in Four Sessions on Slowdown Concerns Coffee Falls as Supply Improves; Cotton, Sugar, Cocoa, Decline Cattle Jump to Five-Month High on Rising Beef Demand; Hogs Gain ON THE FRONT PAGES Venezuela Sends China 640,000 Barrels a Day of Oil: Correo Link Four Rescued, 13 Still Trapped After China Mine Accident: Xinhua Petroperu Will Sell Up to $400 Million in Bonds, Expreso Says ECONOMIC DATA: (ALL TIMES NEW YORK) 1:30 a.m. France July Inflation, 2Q GDP 2:00 a.m. Germany 2Q GDP 2:45 a.m. France 2Q Non-Farm Payrolls 4:30 a.m. U.K. July Inflation 5:00 a.m. Germany ZEW Survey August 5:00 a.m. Euro Zone 2Q GDP 7:30 a.m. U.S. NFIB Small Business Optimism July 8:30 a.m. U.S. Producer Price Index July 10:00 a.m. U.S. June Business Inventories TV HIGHLIGHTS 8:35 a.m. Gtis Partners Chairman Thomas M. Shapiro 10:00 a.m. Diamond A-Ford Corp. Chairman Gerald J. Ford 2:40 p.m. NFL Quarterback Peyton Manning MARKETS (4:20 p.m. NY TIME): Last Chg %Chg WTI Crude Oil $92.73 -0.14 -0.2 Gasoline $2.9907 -0.0132 -0.4 Natural Gas $2.729 -0.041 -1.5 Copper $3.3535 -0.039 -1.1 Gold $1,609.60 -10.10 -0.6 Wheat $8.5675 -0.285 -3.2 U.S. Dollar Index 82.421 -0.136 -0.2 MSCI All-Country Index 322.47 -0.81 -0.3
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