Wednesday morning will find traders still considering USDA's latest round of estimates, checking the weather forecasts and watching for any news of an export sale. The U.S. Labor Department's report on September consumer prices is set for 7:30 a.m. CDT and is likely to show an increase in energy prices. The U.S. Energy Department's weekly report of energy inventories is pushed to Thursday as a part of this week's federal holiday schedule. The Federal Reserve will release minutes from its latest FOMC meeting at 2 p.m. CDT.
Weather
A strong storm system is moving through the Northern Plains with a shield of moderate to heavy rain and snow and a cold front that continues scattered showers across the Central and Southern Plains and into the western Midwest. This system is not only making an impact with precipitation, but strong winds are also noted for a good portion of the Northern Plains and Upper Midwest as well Wednesday, along with a couple of bouts of severe weather along the cold front. Widespread freezes have settled in across the West and will leak into the Plains as well.