USDA's weekly export sales report is due out at 7:30 a.m. CST Thursday, along with weekly U.S. jobless claims, the December producer price index and an update of the U.S. Drought Monitor. The Energy Department's report on natural gas storage is due out at 9:30 a.m. Traders will keep watching the latest weather forecasts and for any news of export sales.
Weather
With only some isolated showers in the Midwest on Thursday, most of the country's primary growing regions will be warm and dry. The combination is not favorable for wheat in the southwestern Plains where drought continues to grow.