The U.S. Labor Department's employment cost index for the first quarter will be out at 7:30 a.m. CDT. The Federal Reserve begins its two-day FOMC meeting and is expected to keep the federal funds rate target unchanged with an upper limit of 5.50%. Traders continue keeping close watch on the latest weather forecasts in major growing areas.
Weather
Another storm system in the active pattern is moving through the Plains and into the Upper Midwest for Tuesday. Scattered showers and thunderstorms will develop across the middle of the country yet again, with potential for severe weather from eastern Kansas through Iowa. Large hail and damaging winds are the primary threats with these storms.