At 7:30 a.m. CST Wednesday, the U.S. Commerce Department releases a report of U.S. durable goods orders for December. The U.S. Energy Department releases its weekly energy inventory report, including ethanol, at 9:30 a.m. The Federal Reserve concludes its open market committee meeting at 2 p.m. and is expected to keep the federal funds rate target near zero. Traders continue to examine the latest weather forecasts and watch for any export news.
Weather
Light snow is in store for the southern Midwest Wednesday. Other crop areas will be dry, allowing for clearing of roads in areas that had heavy snow earlier this week. Northern areas will be very cold; wind chill bulletins cover much of the far Northern Plains. A large storm system bringing rain and snow to the Far West is indicated to be a rain and snow producer in the Midwest during the coming weekend.