Starting a new week, traders will be checking the latest weather forecasts and take a timeout at 8 a.m. CST to see if USDA has an export sale announcement. As usual, USDA's weekly grain inspections report is set for 10 a.m. CST and this time is followed by USDA's Livestock, Dairy and Poultry Outlook at 11 a.m. and a weekly cattle slaughter summary later Monday morning.
Weather
Monday brings moderate to heavy snow to the north-central Plains and northern Midwest, with moderate to locally heavy rain moving through the central and southern Midwest. This storm system brought record heavy rain and snow to the western and central Plains and western Midwest during the past weekend. Moisture is beneficial for winter wheat and for drought easing, but hazardous for safety, transportation and livestock. A new system forming in the Far West will cross the Plains and Midwest later this week