A report on U.S. housing starts is due out at 7:30 a.m. CDT Tuesday and is the only significant report of the day. Traders will be influenced by Monday afternoon's Crop Progress report and the latest weather forecasts. Soybean export sales have been active lately and traders will watch for a possible announcement from USDA at 8 a.m.
Weather
A front combined with moisture from the Gulf of Mexico will lead to wet conditions from the Great Lakes down to the Gulf of Mexico while drier conditions build in behind the front through the Plains. Rain could be heavy in spots, leading to quality issues and delays for maturation and harvest while conditions improve to the west.