Natural Gas Fundamental Analysis July 23, 2012, Forecast

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Analysis and Recommendations:

Natural Gas is trading at 3.031 as July heat continues to scorch the Midwest. June was the fourth-hottest month in the U.S. since 1880, according to the National Oceanic and Atmospheric Association (NOAA) and July has been toasty too. The heat and drought prompted officials to cut harvest expectations. USDA’s July 11 report featured a 12% drop in the outlook for domestic corn output, crossing out predictions for a record harvest. The U.S. soybean crop, which pollinates later than corn, is on track to be the smallest in four years. Global wheat production estimates are down 1% from a June prediction.

Energy consumption is at its max as air conditioners and fans force producers to produce maximum level, using natural gas to help with the excess production demands.

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