Traders will return from the weekend, checking the latest weather forecasts and any news regarding Ukraine or Russia. At 10 a.m. CDT, USDA weekly grain export inspections will be released, followed by the second Crop Progress report of 2022 at 3 p.m. At 2 p.m., USDA's Historical Track Records of Crop Production will be available, an annual reference source.
Weather
Scattered showers and thunderstorms are developing along a weak system moving through the Midwest and Delta Monday. Some of these thunderstorms could be strong to severe from northeast Texas into the northern Delta. But the main story for the week is the storm system moving through the West that will bring blizzard conditions to the Northern Plains and multiple rounds of severe weather elsewhere, along with heavy rains. However, the southwestern Plains hard red winter wheat areas are looking to be bypassed yet again as soils continue to be very dry. Cold air following the system will slow down agricultural progress.