Wednesday's reports begin with the Labor Department's consumer price index for July, due out at 7:30 a.m. CDT and will add to the ongoing conversation about inflation. The U.S. Energy Department's weekly inventory report is due out at 9:30 a.m. and will include ethanol production. The U.S. Treasury's budget for July will be announced at 1 p.m.
Weather
After an active severe weather day in the Midwest on Tuesday, another active day is expected Wednesday with the greatest probabilities centered around Lake Michigan. Another frontal boundary moving into the Midwest will be the culprit. Hot and humid weather will continue south of this front through much of the Midwest and Plains down to the Gulf of Mexico. Meanwhile, cooler and drier air behind the front will ease stress for filling corn and soybeans.