Friday at 7:30 a.m. CST, the U.S. Commerce department will release reports on U.S. personal incomes and consumer spending in January, followed by the University of Michigan's consumer sentiment index at 9 a.m. USDA's annual report of cold storage is set for 2 p.m. CST. Traders will remain attentive to the latest weather forecasts and to any news of export sales that might emerge.
Weather
Moderate to locally heavy rain is in store for the Delta and Mid-South Friday. We'll also see widespread snow in the Northwest U.S. crop areas. Dry conditions will be in place elsewhere. Winter wheat areas of the Plains have no meaningful moisture in the forecast.