Back from a three-day weekend, traders may still be pondering the many new estimates USDA set out last Thursday. News over the weekend and the latest weather forecasts, especially anything pertaining to South America, will be reviewed. There are no significant reports on Tuesday's docket other than USDA's weekly grain export inspections at 10 a.m. CST.
Weather
A system was moving through the Great Lakes early Tuesday with scattered showers arcing through the Mid-Atlantic and Southeast as well. This system continues to push east throughout the day. Another will be right on its heels as it moves from the Four Corners into the Central Plains tonight. A band of heavy snow is expected to develop over northeast Colorado through Nebraska and into the Upper Midwest tonight through Wednesday, along with scattered showers and thunderstorms for southwest Kansas down through west Texas. The precipitation over the southwestern Plains will be most welcome as the region remains in severe drought. It remains very warm across most of the country during the statistically coldest week of the year.