Traders will be watching the latest forecasts and for any signs of export sales. Tuesday's only official report is for U.S. new home sales in July, due out at 9 a.m. CDT. The market is also interested in any news that might develop pertaining to a change in biofuels policy.
Weather
Clusters of storms over Minnesota will continue to move southeast this morning and more development is expected across the general vicinity later today as another system moves through the region. The active track across the north continues to produce rainfall. It may be too late for some to provide much help, but will help to ease the drought in the region for sure. South of the storms, heat and dryness will continue to stress filling crops.