At 7:30 a.m. CDT Wednesday, traders will catch the April report of U.S. durable goods orders and then pause at 8 a.m. to see if USDA has an export sale. The Energy Department's weekly report of energy inventories, including ethanol production is set for 9:30 a.m., followed by a recap of the minutes of the latest Federal Reserve meeting at 1 p.m. The latest weather forecasts remain important and the more hopeful among us await word of Russia's surrender.
Weather
A storm system that has brought moderate to heavy rainfall across the Central and Southern Plains earlier this week is spreading those showers eastward across the Mississippi River on Wednesday. More areas of moderate to heavy rain are expected and may cause some localized flooding and planting delays. Dryness in the Northern Plains will promote drying of soils and planting progress for the next couple of days.