USDA's weekly exports sales report is due out at 7:30 a.m. CST, the same time as weekly jobless claims, the Labor Department's consumer price index for January and an update of the U.S. Drought Monitor. The Energy Department's weekly report of natural gas storage is set for 9:30 a.m., followed by a Treasury report on the federal budget for January at 1 p.m. Traders continue to keep tabs on the latest weather forecasts.
Weather
A clipper system will bring a band of moderate to heavy snow across the northern stretches of the country Thursday and Thursday night with more isolated to scattered showers to the rest of the Northern Plains and Corn Belt. The cold front to the system will push south through the northern tier of the country overnight, with much colder temperatures setting up in the Midwest over the weekend. Some showers will develop behind this boundary across the High Plains late tonight and Friday, but amounts will be light. Winds will be strong at times across the Northern Plains as well.