What Should We Expect from US Government Numbers Tuesday?

The article previews U.S. government data due Tuesday, including the June Consumer Confidence Index and USDA’s annual Acreage update and quarterly Grain Stocks reports. The main market focus is on grains, especially corn, soybeans, and wheat, where traders are watching for changes in planted acres and stocks that could shift supply expectations and spark fund buying or selling. The author notes U.S. stock indexes hit record highs in June, but warns the S&P 500 and Nasdaq may be forming bearish long-term monthly reversal patterns. For grains, a smaller-than-expected corn acreage figure could support prices, while soybean acreage remains uncertain and wheat attention is more about production/weather damage than acreage. Overall, the piece suggests Tuesday’s data could create volatility across grain markets, while equity markets remain technically extended despite recent highs.