USDA's weekly export sales report will be out at 7:30 a.m. CDT Thursday, the same time as weekly jobless claims, a report on second-quarter productivity and an update of the U.S. Drought Monitor. U.S. factory orders for June are set for 9 a.m., followed by the Energy Department's weekly report on natural gas storage is at 9:30 a.m. Traders remain attentive to weather and Ukraine.
Weather
A front that has been stalled out from the Central Plains through the Tennessee Valley all week remains active on Thursday with areas of showers and thunderstorms Thursday morning and likely again later in the day. Some heavy rainfall across the eastern end of the front could produce some flooding. Another system will be moving through the central Rockies, inducing some stronger thunderstorms on the western end of the front Thursday afternoon and evening. Some severe weather and heavy rain will be possible there as well. South of the front it continues to be very hot.