The U.S. Energy Department's weekly report of energy inventories, including ethanol production, is due out at 9:30 a.m. CDT. Minutes from the latest FOMC meeting are out at 1 p.m., followed by USDA's monthly cold storage report at 2 p.m. Traders continue to pay attention to the latest weather developments, news regarding Black Sea grain movement and talks surrounding the debt ceiling.
Weather
The Plains continue to be a focus for showers, especially across the southern drought areas where moderate to heavy rain has developed this week and continues Wednesday. An additional zone from Montana through Saskatchewan is also producing more consistent showers and thunderstorms. Other isolated showers will dot the rest of the Plains and Southeast as well.