Reports on U.S. personal incomes and consumer spending for August are due out at 7:30 a.m. CDT Friday, followed by the University of Michigan's index of U.S. consumer sentiment at 9 a.m. More Federal Reserve officials speak again Friday. At 11 a.m., USDA will release its quarterly Grain Stocks report and Small Grains 2022 Summary. Traders will also keep an eye on outside markets and follow the latest weather forecasts.
Weather
Ian, which strengthened back up to hurricane strength Thursday night, will move onshore over South Carolina Friday afternoon. Heavy rain from the system is already pouring into the Carolinas. Far eastern Georgia and Virginia will see rain from the system as well. A weaker disturbance has parked itself over the northern Rockies and is spreading isolated showers through the Northern Plains, and has also made for a few showers out into Minnesota and a few sprinkles cannot be ruled out for portions of the Central Plains as well. Otherwise, harvest conditions are quite good with rising temperatures for most agricultural areas.