A report on March U.S. housing starts will be out at 7:30 a.m. CDT Tuesday, followed by March industrial production at 8:15 a.m. Traders will continue to keep close watch on South American weather and events in the Middle East.
Weather
A strong storm system in the Plains continues northeast into the Midwest on Tuesday. The system has had a history of producing severe storms, which continues to be a threat Tuesday as well. Those in Iowa, Illinois, and Missouri stand the best threat of that. Heavy rain that comes with these thunderstorms may slow down planting a bit but will help to increase soil moisture for early crop growth. Winds remain strong around the system as well, which is drying out soils in the southwestern Plains that were bypassed yet again.