On Tuesday at 7:30 a.m. CDT, the Bureau of Labor Statistics will release the June Consumer Price Index report, with economists expecting a cooler inflation reading compared to May as a result of the temporary ceasefire in the Middle East through June. At 2 p.m. CDT, USDA's Economic Research Service will release a series of follow-ups to last week's WASDE such as the Oil Crops, Feed, and Wheat outlooks for July.
Weather
An extreme heatwave continues to spread across northern areas of the country on Tuesday. Widespread heat from Montana to Maine will result in some significant heat stress for developing crops, especially in the Northern Plains. A weakness across the South and Southeast will cause more showers and thunderstorms to develop throughout the day, putting a cap on the heat down there.