A report on U.S. housing starts for September is due out at 7:30 a.m. CDT Wednesday, followed by the Energy Department's weekly inventory report at 9:30 a.m. CDT, including ethanol production. Traders will continue to watch the latest weather forecasts and any news that develops, especially regarding Russia's grain deal with Ukraine. The Federal Reserve's Beige Book will be out at 1 p.m., offering its latest assessment of the U.S. economy.
Weather
Widespread near-record cold conditions east of the Rockies have led to sub-freezing temperatures close to the Gulf of Mexico Wednesday morning. In the cold air, lake-effect rain and snow showers continue over eastern areas of the Lakes, annoying those with fieldwork to do. Otherwise, the drier conditions elsewhere are favorable. While still cold on Thursday, temperatures will be gradually rising for the rest of the week and weekend, starting in the Plains this afternoon.