On Tuesday, Federal Reserve Chairman Jerome Powell is scheduled to speak in Sweden, otherwise there are no significant events on Tuesday's docket. Two days ahead of the next WASDE report, trading may be quiet and traders will be watching the latest weather forecasts, as well as any developing news.
Weather
A two-part system is moving through the West on Tuesday. The leading wave will move along the U.S.-Canada border tonight with some showers across the northern tier of the country. The second part will continue to pound California, the southern Great Basin, and the Central Rockies with even more precipitation and a chance for a few severe thunderstorms. Otherwise it remains quite warm by January standards across the country.