U.S. new home sales for June will be out at 9:00 a.m. CDT Wednesday, followed by the U.S. Energy Department's weekly energy inventory report at 9:30 a.m. Also Wednesday morning, the Bank of Canada will announce its decision on interest rates. As usual, grain traders remain focused on the latest weather forecasts.
Weather
An old and washed-out boundary continues to produce scattered showers from Texas to the Carolinas for Wednesday, a zone that has seen widespread rainfall all week. Some areas of heavy rain will be possible. A small cold front is moving through the Midwest that should produce some limited showers as well. Extreme heat is breaking down in the West, but above-normal temperatures continue to plague that region up through the Canadian Prairies and is leaking through more of the Plains.