On Thursday, USDA will release the weekly Export Sales report at 7:30 a.m. CDT. At 11 a.m. CDT, USDA will release the June World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports, which will give traders an updated look into USDA forecasts for old and new crop balance sheets in the U.S. and around the globe.
Weather
A system that moved into the Central Plains Wednesday night will move through the Midwest on Thursday. It is already bringing a batch of strong-to-severe thunderstorms from eastern Nebraska into Iowa early Thursday morning. That will spread northeast throughout the day and could remain severe. Additional strong-to-severe thunderstorms will form along this system's cold front as it pushes down into Oklahoma and up through the Great Lakes throughout the day, but especially Thursday afternoon and evening.