Following Tuesday's big jump in consumer prices, the Labor Department will release producer prices for June at 7:30 a.m. CDT Wednesday. The Energy Department's weekly energy inventories are set for 9:30 a.m., followed by the Federal Reserve's Beige Book at 1 p.m. Traders will continue to pay close attention to the latest weather forecasts and observed rainfall amounts.
Weather
A batch of moderate to heavy rainfall over South Dakota and Nebraska Wednesday morning will move eastward into Wisconsin through the day. These areas may see 1 to 2 inches of rainfall and locally heavier, benefiting developing to reproductive crops currently in drought.