Wednesday morning's reports start with April housing starts at 7:30 a.m. CDT, followed by the Energy Department's weekly energy inventories, including ethanol production at 9:30 a.m. Traders will check the latest weather forecasts, pause at 8 a.m. for a possible export sale announcement and stay tuned to events in Ukraine.
Weather
A disturbance moving through the Midwest is and will continue to create scattered showers across mainly the Midwest throughout the day. This could lead to some areas of planting delays. A few showers and thunderstorms will also be possible in the southwestern Plains, but be very spotty and unhelpful to the current drought situation. Heat will exacerbate the drought as well.