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COMMODITIES DAYBOOK: Cotton Drops Most in Two Decades on Economy

June 21 (Bloomberg) -- Cotton futures tumbled the most in almost 21 years on mounting concern that demand will slow amid signs the world economy is cooling.

WHAT TO WATCH
(ALL TIMES NEW YORK)

4:00 a.m. LME Stockpiles
6:00 a.m. South Africa Monthly Grains Stockpiles Data
8:30 a.m. USDA May Livestock Slaughter Report
10:00 a.m. American Petroleum Institute Monthly Report
1:00 p.m. Baker Hughes U.S. Energy Rig Counts
2:00 p.m. USDA Cattle, Hog Slaughter
3:00 p.m. USDA May Cattle on Feed Report
3:00 p.m. USDA World Coffee Markets Semiannual Report
3:00 p.m. USDA May Cold Storage Report -- Pork Bellies

TOP STORIES
Cotton Falls Most Since 1991 as Demand Slows; Orange Juice Drops
Oil Drops Below $80, Brent Under $90 on Signs of Slowing Economy
Heating Oil Tumbles as Economic Reports Indicate Lower Demand
Natural Gas Advances on Smaller-Than-Expected Storage Increase
Copper Falls Most in 11 Weeks on China Slowdown, Fed Decision
Gold Futures Erase This Year’s Gain on Federal Reserve Decision
Coffee Rises on Brazilian Crop Concerns; Sugar, Cocoa Decline

ON THE FRONT PAGES
Statoil Asks Gazprom to Bring Shell Into Shtokman, RIA Says
Pan American Halts Argentina Refinery on Strike: Upstream Link
Shell’s Voser Concerned About Australia Labour Cost: Review Link

ECONOMIC DATA
(ALL TIMES NEW YORK)

4:00 a.m. IFO Pan Germany June Business Expectations
4:00 a.m. Italy June Consumer Confidence Indicator
8:30 a.m. Canada May Consumer Price Index

TV HIGHLIGHTS
7:00 a.m. St. Louis Federal Reserve President James Bullard
8:54 a.m. Green Bay Packers Wide Receiver Greg Jennings
9:00 a.m. Pimco Managing Director Neel T. Kashkari
5:20 p.m. ETF Securities USA LLC Managing Director William Rhind

MARKETS (6:00 p.m. NY TIME)

                               Last        Chg        %Chg
WTI Crude Oil                 $78.20      -3.25      -3.99
Gasoline                       $2.5501     -.0401    -1.55
Natural Gas                    $2.582     +0.065     +2.58
Copper                         $3.298      -.0895    -2.64
Gold                       $1,564.50     -50.30      -3.11
Wheat                          $6.6175     -.0225    -0.34
U.S. Dollar Index              82.29      +0.707     +0.87
MSCI World Index              305.53      -5.66      -1.82

NI CMDDAYBOOK NI CRMKTS NI DAYBOOK NI GASMARKET NI LVMKTS NI MTLMARKET NI ORIGINAL NI PCSMARKET NI SOMKTS NI SOY

To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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