The University of Michigan's index of U.S. consumer sentiment is set for 9 a.m. CDT Friday. But, for grain traders, the highlights of the day are out at 11 a.m. CDT, when USDA releases its WASDE and Crop Production reports. Traders will also check the latest weather forecasts, watch for any export activity and for any news regarding the extension of the Black Sea grain deal.
Weather
An upper-level system is meandering in the Plains, spreading showers and thunderstorms across the Plains into the Midwest down to the Southeast on Friday. Rain is slow-moving, causing some heavy rain and potential for flooding. Areas in the northern half of the Plains and across parts of Texas stand the best chance at seeing meaningful, heavy rain that could ease drought conditions. But those same showers could become severe storms with the focus around eastern Nebraska and western Iowa for the greatest threats.