The U.S. Labor Department's consumer price index for May is due out at 7:30 a.m. CDT Friday and could shake up outside markets, followed by the University of Michigan's consumer sentiment index at 9 a.m. USDA's June WASDE and Crop Production reports at 11 a.m. don't normally shake prices up much but will add to the conversation of trying to get a handle on the bullish demand prices have been hinting at. Traders will also be watching the latest weather forecasts with talk of hotter U.S. temperatures on the way.
Weather
A cluster of thunderstorms that built across Oklahoma Thursday night will continue to trek east-southeast through the Delta on Friday. Risks for damaging wind gusts are rather high with the cluster and could bring some damage to the region. Lighter showers and thunderstorms will work across the Midwest throughout the day while it dries out in the Central and Southern Plains after a week of high activity.