What We Are Watching

Markets

The WASDE report originally scheduled to be released for Thursday, October 9, is canceled due to the ongoing government shutdown. Traders will continue to watch basis levels throughout the countryside for supply and demand clues as U.S. harvest is likely proceeding at full throttle currently. There are also a few more speaking engagements from Federal Reserve governors, including comments from Fed Chair Jerome Powell Thursday morning, that will be of interest to investors ahead of the FOMC meeting at the end of the month.

Weather

Though some spotty showers may go through the Midwest, another largely quiet day is on tap east of the Rockies for Thursday. The weather is getting more interesting for those in the West though, and that will eventually move eastward this weekend and next week.

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