Commodities
USDA Report Looms as Diesel Prices Hit Record High
The grain markets are bracing for the release of the USDA's crop production and supply and demand reports, which could have significant implications for corn and soybean prices.
The data point of the week is this morning's WASDE report, with analysts expecting a downward revision to last month's estimates. The USDA will also release its weekly export sales report today, delayed one day due to the Monday holiday.
Meanwhile, U.S. diesel prices have hit another record high above $6 per gallon, driven by the ongoing war in Iran and its impact on global fuel supplies.