The U.S. Energy Department's weekly inventory report will be out at 9:30 a.m. CDT Wednesday, the only significant report of the day before the Federal Reserve announces its decision on interest rates at 1 p.m. Traders will continue to monitor the latest weather forecasts, especially in Brazil and have gotten in the habit of expecting an export sale announcement at 8 a.m.
Weather
Several storm systems are passing through the country on Wednesday morning. Some are coming and some are going, producing widespread areas of precipitation for much of the country throughout the day. This may turn into a band of moderate snow across Nebraska and into Iowa Wednesday night, along with a small potential for severe thunderstorms from northern Missouri into northern Indiana Wednesday evening as well. A cold front separates cold air in the north from warm air in the south while winds whip through the Southern Plains for yet another day.