A report on U.S. housing starts is set for 7:30 a.m. CDT Tuesday. The Federal Reserve begins its two-day meeting, discussing whether to increase the federal funds rate target another quarter-percent or to leave it alone for now. Traders will digest Monday's harvest progress data from USDA, the latest weather forecasts and keep an eye on Black Sea events.
Weather
A couple of disturbances in the middle of the country will be responsible for areas of showers from Texas to areas around Lake Michigan on Tuesday. Most areas will see light rain, but pockets of heavier rain will be possible, especially farther south across Oklahoma and Texas, where there is a greater risk of severe weather, especially hail.