Back from the weekend, traders will be paying attention to South American weather and the latest events from the Middle East. Markets in China are closed this week for the Lunar New Year. USDA's weekly export inspections will be out at 10 a.m. CST. The U.S. Treasury Department reports on the federal budget for January at 1 p.m.
Weather
A system from the weekend continues to move through the Southeast on Monday, with areas of heavy rain and thunderstorms, some of which may be severe. On the northern end of the storm, it will be just cold enough to get some snow to fall from southern Missouri through portions of the Ohio Valley. Despite the snow, it still remains mild by February standards in most places of the country outside of the Southwest.