Gulke

Markets

On Wednesday, the EIA will release the weekly Petroleum Status report at 9:30 a.m. CDT, including last week’s ethanol production. There are no other major reports scheduled. Traders will as always watch U.S. weather as well as the situation in the Middle East as fighting has again escalated through this week.

Weather

A system that has been spinning around the Northern Plains and Canadian Prairies is finally starting to push eastward on Wednesday, but will continue scattered showers and thunderstorms in the region throughout the day. Showers extend down through the Plains as well, producing some much-needed rainfall in some very dry areas of the country.