At 7:30 a.m. CDT, the U.S. Labor Department will report on nonfarm payrolls and the unemployment rate, both for September. Federal Reserve officials will add their own public comments after the reports and at 2 p.m., there is a report on August consumer credit. Traders will continue to watch the latest weather forecasts, especially for any rain chances that would help fill the Mississippi River or ease drought in the western Plains.
Weather
A strong cold front has been pushing through the Corn Belt over the past day and very cold air is filling in behind it. Temperatures in the Northern Plains have dropped down into the 20s and lower 30s for most areas, producing killing frosts this morning. The colder air will spread through the Corn Belt Friday with more frosts and freezes expected through the weekend. Showers are limited to Nebraska behind the front and across west Texas into Oklahoma, where they are welcome for winter wheat establishment. Other areas will remain dry and offer good harvest conditions despite the cold.