The Labor Department will release the U.S. consumer price index for July at 7:30 a.m. CDT Wednesday, a number that will factor into Fed policy. The U.S. Energy Department's weekly report of energy inventories is set for 9:30 a.m. and includes ethanol production. At 1 p.m., the Treasury releases federal budget data for July. Traders continue to stay close to the latest weather forecasts and any news regarding Ukraine.
Weather
A front continues to move southeast through the country with scattered showers from Texas into the Mid-Atlantic and points southward on Wednesday. Meanwhile, heat is building back into the Plains north of the front. A secondary cold front is moving through the Dakotas and Upper Midwest, which will be the focus for showers late Wednesday through Thursday, but will be rather quiet during the day.