Of course, grain traders will be watching the latest forecasts as we near August. An index of U.S. consumer confidence for July is due out at 9 a.m. CDT Tuesday and the Federal Reserve will hold the first of a two-day meeting with no change in the interest rate expected at Wednesday afternoon's announcement.
Weather
A front moving through the eastern Midwest and another moving into the Northern Plains are connected through Iowa, and clusters of showers and thunderstorms will be developing across the Corn Belt throughout the day. Any cluster will be able to tap into the heat building across the Southern Plains that is extending farther north into the Iowa front and could become severe with a primary focus of strong winds.