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A system in the Gulf of Mexico will move across Florida on Friday. This will bring moderate to heavy showers to portions of the Southeast through Saturday with some disruption to the cotton harvest. Otherwise, mild and dry weather will continue across almost all areas east of the Rocky Mountains with good harvest conditions going through the weekend.
A large storm forecast for next week in the United States, the end of a good rainfall pattern in Argentina, and wet conditions for wheat harvest in eastern Australia are the weather factors holding the market's attention Friday.
USDA's weekly Export Sales report is due out at 7:30 a.m. CDT Thursday, along with weekly U.S. jobless claims, a report of U.S. productivity in the third quarter, the September trade deficit and an update of the U.S. Drought Monitor. The Energy Department's report on natural gas storage is due out at 9:30 a.m. CDT.
Timely rainfall in Australia and Argentina results in a large total wheat crop as harvest gets underway.
Timely rainfall in Australia and Argentina results in a large total wheat crop as harvest gets underway.