USDA's weekly export sales report is set for 7:30 a.m. CDT, the same time as weekly U.S. jobless claims, a third estimate of U.S. GDP in the second quarter and the latest update of the U.S. Drought Monitor. Traders will be watching the Energy Department's report on natural gas storage at 9:30 a.m. At 11 a.m. CDT, USDA will release its quarterly Grain Stocks report and Small Grains Annual Summary.
Weather
A system slowly working through the Plains and into the western Midwest will bring some scattered showers on Thursday. This will cause some delays to the continued harvest and winter wheat planting. However, it will be highly beneficial for dry soils in the Central and Southern Plains and eliminate some areas of drought. Showers will be scattered though and some areas will be missed. Eastern crop areas should continue to see overall favorable weather conditions for harvest.