There are no major reports scheduled Wednesday, but minutes from the latest Federal Reserve meeting are due out at 1 p.m. CDT. Traders will be paying attention to the latest weather forecasts and rainfall amounts. Weekly energy inventory reports are set for Thursday at 10 a.m. CDT, due to this week's holiday schedule.
Weather
Light to moderate rain will cross the Midwest and cover the Gulf Coast Wednesday. A cooler pattern is also in store for the northern and western Midwest. This combination is favorable for pollinating corn and flowering and pod setting soybeans. In the Southeast, Tropical Storm Elsa will produce locally heavy rain. Other crop areas will be dry with no easing of drought in the entire western U.S.