There is a report of U.S. factory orders due out at 9 a.m. CDT, but it is for the month of June and pales by comparison to the manufacturing indices for July just released on Monday. At 9:30 a.m., the U.S. Energy Department's weekly report of energy inventories is due out and includes ethanol production. Traders will continue to keep a close watch on the weather forecasts and any news of more ships leaving Ukraine. OPEC and other oil producers meet Wednesday to decide output for September.
Weather
A ridge of high pressure continues to produce heat across much of the country on Wednesday. However, there is a front moving across the Upper Midwest this morning that is producing scattered showers and thunderstorms from Nebraska to Michigan. Those showers and thunderstorms may be severe as the front slides southeast later in the day from Missouri through Michigan. Behind the front, temperatures are not too cold, but are offering some relief from the heat and humidity that is building up ahead of it.