USDA's weekly report of export sales is due out at 7:30 a.m. CDT, the same time as weekly U.S. jobless claims, an estimate of U.S. GDP for the second quarter and an update of the U.S. Drought Monitor. The U.S. Energy Department's weekly report of natural gas inventories is set for 9:30 a.m. Traders remain interested in the latest weather forecasts and any export news that arises.
Weather
Thursday is shaping up to be very active across the Dakotas and into the Upper Midwest. Heavy rainfall is forecast to increase throughout the day and there may be some severe weather as well. Rainfall may provide some late benefit to filling corn and soybeans but should help to ease the drought as well. To the south of this zone of rain, it will remain hot and humid, stressing the end of the fill period for crops.