USDA's weekly export sales report, U.S. jobless claims, the U.S. producer price index and an update of the U.S. Drought Monitor are all due out at 7:30 a.m. CDT Thursday. The U.S. Energy Department's weekly report of natural gas inventory is due out at 9:30 a.m. Traders continue to watch the latest weather forecasts and check for any export news.
Weather
Dry conditions will cover all primary crop areas Thursday. A warming trend is also in store which will favor planting and early crop development. Eastern Midwest progress will lag due to cooler conditions including some frost and freeze issues. Dry conditions remain stressful in drought areas of the northern Midwest, northern and southwestern Plains, Northwest, and Canadian Prairies. Forecast maps indicate a slow-moving storm system during the first half of next week bringing possibly significant precipitation to central and southern crop areas.