Back from the weekend, traders will check the latest weather forecasts and watch for any new developments out of China. A report on U.S. durable goods orders for August is due out at 7:30 a.m. CDT, followed by a possible export sale announcement at 8 a.m. USDA's weekly report of grain export inspections will give a clue as to how river traffic is moving through Louisiana. USDA's Crop Progress report at 3 p.m. will report on row crop harvest progress and winter wheat planting.
Weather
A ridge of high pressure will keep most of the country hot and dry. This should promote harvest activities especially considering the rain in the forecast later this week. The Pacific Northwest should see some beneficial showers, but more are needed for winter wheat. Winter wheat in the Southern Plains will have difficulty under heat and moisture stress through Tuesday before beneficial showers return.