USDA's weekly export sales report is due out at 7:30 a.m. CST, followed by U.S. existing home sales for December at 9 a.m. and USDA's cattle on-feed report for January 1 at 2 p.m. Traders continue to closely watch the latest weather forecasts, especially for Argentina where crop ratings fell even lower Thursday. The market will also check for a possible export sale announcement from USDA at 8 a.m.
Weather
As a system continues to push off the East Coast early Friday, some lake-effect snows will continue over the Great Lakes throughout the day. Another system is working its way through the Four Corners area and will move out into Texas tonight and Saturday. In response, widespread precipitation is expected to develop, including a band of moderate to heavy snow across Colorado and Kansas, bringing in much-need moisture for the longstanding drought. Mild temperatures continue across most areas east of the Rockies.