A report on U.S. retail sales for December is due out at 7:30 a.m. CST, followed by December U.S. industrial production at 8:15 a.m. The Federal Reserve's monthly Beige Book is set for release at 1 p.m. and weekly energy inventories are pushed to Thursday morning, due the the holiday schedule. Traders will keep close watch on the latest weather forecasts, especially for South America, and for any news of an export sale.
Weather
A storm system that has moved into western Kansas is producing a band of heavy snow across portions of Colorado and Nebraska early Wednesday morning, along with scattered showers farther south and across Missouri and Arkansas along and ahead of a cold front. The heavy snow will spread northeast throughout the day and night, through Iowa, southern Minnesota, and Wisconsin. Heavy snowfall amounts of 6-12" are expected in this band, with potential for some heavier amounts in some places. Farther south along the cold front, severe weather will be possible, most likely this afternoon near the Lower Mississippi River Valley.