USDA still has not had a daily export sale announcement in June and the next chance will come at 8 a.m. CDT. The early version of University of Michigan's consumer sentiment index for June is due out at 9 a.m. CDT and is the only official report on Friday's docket. Even so, traders have their hands full keeping up with the latest weather forecasts and digesting Thursday's new estimates from USDA.
Weather
A line of strong-to-severe storms was moving from the Dakotas and central Nebraska eastward early Friday morning. Models suggest that this line will weaken in the morning as it moves into Minnesota and Iowa, but the southern flank may continue over eastern Nebraska and move south into Kansas later in the day. Scattered thunderstorms are likely to redevelop over the western Midwest later in the day, but not to the strength we saw last night in the Northern Plains, where there were many strong wind reports. A brief cooldown is expected over the northwestern Plains as a front moves through, reducing heat stress for a day or two before temperatures rise next week.