Thursday morning activities start with weekly U.S. jobless claims and an update of the U.S. Drought Monitor at 7:30 a.m., but no export sales report until Friday. U.S. existing home sales and leading indicators for May follow at 9 a.m. U.S. Energy Department's report of natural gas storage is set for 9:30 a.m., followed by weekly energy inventories at 10 a.m. Federal Chairman Jerome Powell goes before the Senate, likely repeating Tuesday's testimony to the House.
Weather
A persistent weather pattern this week continues on Thursday with a front stuck up in the Northern Plains that should remain active and a system in the Southeast that continues to spin. Thunderstorms are expected to develop in the High Plains yet again Thursday, which may be severe. Elsewhere in the Corn Belt it will be hot and dry, with stresses continuing to mount as the region looks forward to weekend rainfall.