USDA's biggest data dump of the year happens Friday, bringing all sorts of potential for marketing moving news. Last year, the information triggered a counter seasonal rally.
It's turning warmer in the U.S., with a 30 degree reading in Chicago this morning. Elsewhere in the world, Brazil continues to see good rains and Argentina's hot, dry weather has given way to beneficial rains. Western Europe and the Black Sea region, where winter wheat is vulnerable to cold, don't have any weather woes in the forecast.
Outside markets are also influencing commodities with fund rebalancing this second week of January.