Various manufacturing indices from around the world will be reported overnight, leading to ISM's index of U.S. manufacturing at 9 a.m. CST Wednesday, clues to world economic activity. The U.S. Energy Department's weekly inventory report will be out at 9:30 a.m., including ethanol production. Traders will keep an eye on the latest weather forecasts and South American crop conditions.
Weather
A system moving from the Northern Plains into the northern Midwest carries areas of mostly snow on Wednesday. The cold front to this system lies across the southeastern Plains through the Tennessee Valley and will light up with showers later Wednesday and into Wednesday night, some of which may be severe, but also carrying potentially heavy rainfall. Another strong system is moving through the southwest with heavy precipitation that will become another big-impact system for the end of the week east of the Rockies