There are no significant reports on Tuesday's docket, but judging from Monday's selling in grains, traders will remain focused on the latest weather reports and forecasts. Traders will also pause at 8 a.m. CST to see if USDA has another export sale to report after announcing 7.1 million bushels of soybeans to unknown destinations Monday. Outside markets may be an influence Tuesday with several big names expecting earning reports.
Weather
A strong storm is developing over Texas on Tuesday and will press northeast through Tuesday night, headed toward Memphis by early Wednesday morning. A batch of scattered showers and thunderstorms is developing with the system, including some moderate to heavy snow across the Texas Panhandle. That snow will extend up through Missouri later in the day and set up along and north of the Ohio River tonight. To the south, thunderstorms will produce moderate to heavy rain and have some potential for severe weather close to the Gulf of Mexico.