USDA's weekly export sales report is due out at 7:30 a.m. CDT, the same time as the weekly U.S. jobless claims, the Labor Department's producer price index for July and an update of the U.S. Drought Monitor. The Energy Department's report on natural gas storage follows at 9:30 a.m. Traders will continue to stay on top of the latest weather forecasts and watch for any news regarding Ukraine or export sales.
Weather
It is a tale of two halves across the U.S. on Thursday. Heat continues to build across the West and Plains while milder air is being reinforced by a secondary cold front east of the Mississippi River. Widespread showers continue in the Southeast today and isolated showers will form on the edge of the hot-cold dynamic across the Upper Midwest. Some heavier precipitation will be possible in North Dakota into Minnesota overnight into Friday.