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USDA's export sales report is out at 7:30 a.m. CDT Thursday, the same time as weekly U.S. jobless claims and an update of the U.S. Drought Monitor. February U.S. new home sales are set for 9 a.m., followed by weekly U.S. natural gas storage at 9:30 a.m. USDA's monthly cold storage report will be released at 2 p.m. Traders will continue to monitor the latest weather forecasts and are in the habit of expecting an export sale announcement at 8 a.m.

A cold front from Texas through the Midwest is going to be fairly active on Thursday as a system moves out of the Southern Rockies and attaches itself to the front. That will increase the risk of severe weather across Oklahoma and Texas later Thursday and Thursday night, mostly with a hail threat. Heavier rain and thunderstorms are going to develop along this front, which could lead to some areas of flooding going through Friday from Oklahoma through the Ohio Valley.

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