There are very few reports on the U.S. government docket on Wednesday, except for a pending home sales index report. We will be focused on primarily any weather updates from South America, and any new 8 a.m. export sales announcements. We will also be looking for the EIA's weekly ethanol production report.
Weather
A frontal boundary from north Texas up through the Ohio Valley is going to be the feature of the day as a system moves along it Wednesday. Thunderstorms will be aided by moisture from the Gulf of Mexico to produce potentially severe weather along and just south of the boundary across the Delta and Tennessee Valley, including potential for a few tornadoes. Cold conditions have spread a bit farther south and east with bone-chilling cold in the Canadian Prairies through the Northern Plains while heat remains south of the front.