USDA's weekly export sales report is set for 7:30 a.m. CDT Thursday, the same time as weekly U.S. jobless claims, U.S. retail sales in May and an update of the U.S. Drought Monitor, followed by a report on U.S. industrial production at 8:15 a.m. The U.S. Energy Department's weekly report of natural gas storage will be out at 9:30 a.m. and USDA's Livestock, Dairy and Poultry Outlook comes out at 2 p.m. Traders will continue to keep close track of the latest weather forecasts.
Weather
A front that has remained stalled across the southern tier of the country with active weather continues to be active on Thursday. Clusters of strong to severe storms will again be possible near the Gulf Coast while a more significant severe threat exists in the Southern Plains, including the word derecho. More areas of showers and thunderstorms will spread north through the rest of the Plains and Canadian Prairies, being heavier in Alberta and easing drought concerns there. Some needed showers will go through eastern areas of the Midwest as well.