Back from the weekend, traders will continue to pay close attention to South American weather forecasts and any news from around the world, especially the Middle East. New home sales for January will be out at 9 a.m. CST, followed by USDA's weekly export inspections at 10 a.m. CST.
Weather
Temperatures are rising well above normal and could break some records in spots here on Monday east of the Rockies. But a storm in the Canadian Prairies will push a cold front through the Pacific Northwest and Northern Plains that will sweep across the country the next couple of days. That will produce some areas of showers, including snow in the Northern Plains and Upper Midwest, strong winds, potential for severe weather, and a sharp drop in temperatures.