Aside from the usual attention to weather forecasts and daily watch for export sales announcements, Tuesday's main attention will fall on USDA's February WASDE report, due out at 11 a.m. CST. Traders are expecting USDA to make reductions in the U.S. ending stocks estimates of both corn and soybeans. Otherwise, there are no significant economic reports on Tuesday's schedule.
Weather
Arctic-origin cold air will spread across the north central U.S. Tuesday. Dangerous wind chill values of -30 F or colder are in store. Winter storm conditions are also indicated for the Ohio Valley with freezing precipitation and snow. The Southeast has shower and thunderstorm activity indicated. In the southwest Plains, freezing fog will be hazardous for travel and livestock, and is stressful for winter wheat. The harsh cold continues through the remainder of the week.