At 7:30 a.m. CDT Wednesday, a report on U.S. retail sales for February will be released, followed by the Energy Department's weekly inventory report at 9:30 a.m. The Federal Reserve will conclude its two-day meeting and is expected to announce an increase in the federal funds target at 1 p.m., followed by a news conference with Chairman Powell. Traders continue to watch for the latest news from Ukraine.
Weather
An upper-level system will continue to bring scattered showers to the Southeast on Wednesday. Additional showers will continue to fall in the Pacific Northwest as well. But most areas will be mild and dry for the day. Hard red winter wheat continues to wake out of dormancy, but is finding dry soils in the Southern Plains. There is some hope for showers there on Thursday. Wetter soils along and east of the Mississippi River are making it difficult for some producers to get into their fields.