What We Are Watching

As the government shutdown enters its sixth day (fourth business day) there are no macroeconomic reports due for release, but the normally scheduled Export Inspections and Crop Progress reports will not be released. Traders will likely be following technical guidelines and other supply and demand clues such as basis levels to gauge the pace of U.S. harvest in the absence of weekly USDA updates.

Weather

A front from the Texas Panhandle up through Wisconsin early Monday morning is producing a string of showers and thunderstorms. The front will continue southeast throughout the day. Additional showers moving north from the Gulf of America will come up to meet the front Monday night in the Ohio and Tennessee Valleys, which could lead to some heavier rainfall there on Tuesday.

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