The U.S. Energy Department will release its weekly inventory report at 9:30 a.m. CST, including ethanol production. At 11 a.m., USDA releases its WASDE report with this month's attention largely on South American production estimates. Traders will keep watch over the latest weather forecasts and other outside news.
Weather
A storm continues to build over Texas early Wednesday morning. The storm center should push northeast into the Midwest later in the day Wednesday. Widespread precipitation in Texas will translate northeast with the storm throughout the day, bringing some heavy amounts and potential for severe weather into the Delta as well. Some snow will mix in on the northern side of the track as the band gets into the Midwest from eastern Kansas into Iowa overnight. Strong winds will start to develop near the low center in the Midwest and Delta tonight into Thursday as well.