USDA's weekly export sales report is due out at 7:30 a.m. CDT and expectations are low for new U.S. export sales. To end the week that began with a celebration of Independence Day, there are no other significant reports on Friday's docket. Traders have plenty to watch in terms of weather and will anticipate USDA's next WASDE report, due out Monday at 11 a.m. CDT.
Weather
Elsa will continue to move northeast with a threat for strong winds and heavy rain along the Northeast Coast Friday. A deepening upper-level low will spread over a frontal boundary later today and tonight with strong to severe thunderstorms expected from Nebraska through the Mid-Mississippi Valley. Strong winds, large hail and tornadoes will all be possible with this activity. Pockets of heavy rain can also be anticipated. There will likely be some additional showers farther north to help some corn and soybean fields in the Dakotas and Minnesota with more widely scattered showers near the Gulf Coast.