USDA's export sales report will be out at 7:30 a.m. CDT Thursday, the same time as weekly U.S. jobless claims and an update of the U.S. Drought Monitor. U.S. existing home sales and U.S. leading indicators for April are due at 9 a.m., followed by the Energy Department's weekly report of natural gas storage at 9:30 a.m. After Russia agreed to extend the Black Sea grain deal Wednesday, traders will be watching for shipments out of Ukraine and the latest weather forecasts.
Weather
A cold front is moving through the Upper Midwest down through the Central Plains on Thursday with scattered showers likely, especially during the afternoon. Moisture ahead of the front should be good enough to produce widespread precipitation across western Kansas and the Panhandles which could be heavy, helping to ease drought conditions in these areas.