Traders will keep close watch over the latest weather forecasts and pause at 8 a.m. CDT to see if USDA has an export sale announcement. The only official report on Wednesday's docket is the Federal Reserve's Beige Book, due out at 1 p.m. The Energy Department's weekly inventory report is moved to Thursday, due to this week's holiday.
Weather
A system moving through the Ohio River Valley will bring showers to the southern and eastern Midwest down to the Gulf of Mexico Wednesday. More isolated to scattered showers will continue across the Southern Plains as well. But heat will continue to build across the Pacific Northwest and into the Northern Plains over the next few days. The heat will continue to exacerbate the ongoing droughts and lead to further damage to wheat.