A report on U.S. retail sales in July is due out at 7:30 a.m. CDT Wednesday, followed by the U.S. Energy Department's weekly inventory report at 9:30 a.m. Monday's report from USDA showed a slightly lower value for corn products so last week's ethanol production is expected to come in steady to lower than the previous week. At 1 p.m., the Fed will release minutes from the latest Open Market Committee meeting. Weather and Ukraine remain high on the list of traders' attention.
Weather
Dry and mild conditions will cover most primary crop areas Wednesday, favorable for filling row crops along with wheat harvest. Rain will focus on the Southern Plains and Delta in the form of light to locally moderate showers and thunderstorms. Meanwhile, stressful hot and dry conditions are in store for the Far West and Northwest.