USDA's weekly export sales report is due out at 7:30 a.m. CDT Thursday, the same time as weekly U.S. jobless claims, a revision of second quarter U.S. GDP and an update of the U.S. Drought Monitor. The U.S. Energy Department reports on weekly natural gas storage levels at 9:30 a.m. Traders will continue to keep an eye on the rain forecast for winter wheat areas and monitor world drought conditions as well as any news from Ukraine.
Weather
Rain showers with mostly light amounts will move across the northern Midwest and portions of the Northern Plains Thursday. Meanwhile, heavy rain and flooding are in store for the Gulf Coast and Deep South along with the northern Rockies. Dry conditions will be in place elsewhere.