Ongoing concerns of too much rain in central Brazil and not enough in Argentina keep traders checking the latest weather forecasts Wednesday. At 9 a.m. CST, U.S. new home sales for January will be released, followed by the Energy Department's weekly report of energy inventories at 9:30 a.m. Fed Chairman Jerome Powell speaks to the U.S. House of Representatives Wednesday morning and may offer more clues about where monetary policy is headed.
Weather
Wednesday will be dry across most primary crop areas. A few snow showers will cross the northern tier. Temperatures will be seasonal to above normal, allowing for more snow melt and recovery from the harsh mid-February cold wave.