Markets
Following Tuesday's WASDE report, Wednesday's grain markets may be on the quiet side. The U.S. Energy Department's weekly inventory report is due out at 9:30 a.m. CST and includes ethanol. The U.S. Treasury updates the federal budget at 1 p.m. Traders will check South American weather forecasts and keep watch for trade news.
Weather
Wednesday features a wide variety of weather across the primary crop areas. Arctic cold, light snow and strong winds will bring blizzard conditions and cold-air stress to livestock and transportation in the Northern Plains and the northern and western Midwest. The far Southern Plains, Delta, southeastern Midwest and Southeast will have moderate to heavy rain with a high risk of flooding. In the middle, a swath of mixed precipitation and snow from the southwestern Plains to the northeastern Midwest will produce safety and transportation issues, while providing moisture for winter wheat. A brief round of drier conditions is indicated during late week.
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