In the face of another round of milder trends from the latest weather data, natural gas futures continued to grind lower in early trading Wednesday. The December Nymex contract was down 3.1 cents to $3.028/MMBtu at around 8:40 a.m. ET.

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With prices already down sharply this week amid expectations for mild temperatures later this month, the latest weather data heading into Wednesday’s session appeared to offer little to improve the outlook for bulls.

“It appears that models have been overdone on medium-range cold, which lessens as it rolls closer to the present,” Bespoke Weather Services said. “We had wondered if this might be the case, given such a strong ridge in the eastern half of the nation.”

Toward mid-November, models were not warmer overall but “did back...