Closing Market Report

Hosted by Todd E. Gleason

BusinessInterviews guestsExplicit

Website RSS feed

Episodes

1170

Latest episode

Jun 2026

Language

About the show

Established 1985 The Closing Market Report airs weekdays at 2:06pm central on WILL AM580, Urbana. University of Illinois Extension Farm Broadcaster Todd Gleason hosts the program. Each day he asks commodity analysts about the trade in Chicago, delves deep into the global growing regions weather, and talks with ag economists, entomologists, agronomists, and others involved in agriculture at the farm and industry level. website: willag.org twitter: @commodityweek

Listen to episodes

60 recent

June 16, 2026Episode 1037323 min

Jun 16 | Closing Market Report

The June 16, 2026, Closing Market Report covers commodity markets, international production costs, agricultural energy sectors, and midwestern weather forecasts. Analyst Susan Stroud notes that a recent geopolitical settlement in Iran has stabilized corn markets and prompted a slight rebound in soybeans. This recovery is driven by speculation of Chinese state-owned purchases and resilient U.S. crush demand, although impending acreage reports and shifting weather forecasts continue to inject volatility into the market. Providing a comparative analysis of international corn production, Joana Colussi explains that while both U.S. and Brazilian farmers have recently incurred financial losses, U.S. deficits are primarily linked to sticky overhead costs like land value, whereas Brazilian expenses are heavily influenced by direct inputs such as imported nitrogen. Furthermore, Dave Chatterton reports that the Iranian settlement is driving down agricultural energy and fertilizer prices, though a complete stabilization to pre-war levels will likely take several months. Chatterton also highlights that the recent release of Risk Management Agency (RMA) yields has promptly triggered ECO and SCO crop insurance payouts for numerous Midwest producers. Concluding the report, meteorologist Don Day forecasts a rapid, severe weather event across the Midwest—driven by the collision of a strong Canadian cold front and a tropical system from the Gulf Coast—which is expected to deliver heavy rainfall, damaging hail, and potential tornadoes to Iowa, Illinois, Indiana, and Ohio.00:00 June 16, 2026 | WILLAg.org01:08 Ag Markets with Susan Stroud, No Bull Ag10:04 U.S. and Brazilian Corn Production Costs Compared13:24 Ag Energies with Dave Chatterton, Strategic Farm Marketing17:52 RMA 2025 Yields Spur ECO / SCO Payments19:59 Ag Weather with Don Day, Day Weather ★ Support this podcast ★

June 15, 2026Episode 1037223 min

Jun 15 | Closing Market Report

The June 15, 2026, edition of the Closing Market Report covers recent agricultural commodity market trends, global supply estimates, and international weather forecasts. Curt Kimmel of AgMarket.net notes that agricultural markets are currently stabilizing, with the recent Iran war settlement expected to reduce transportation and energy costs, thereby boosting investor confidence and global grain demand. Agricultural economist Ben Brown discusses the bearish impact of the latest World Agricultural Supply and Demand Estimates (WASDE) report, which revealed a 14 million metric ton increase in global corn production, largely driven by India. Brown also highlights strong domestic soybean crush demand and notes that global wheat production increases are currently overshadowing tightening U.S. supplies. Furthermore, Brown emphasizes the strong correlation between energy and grain prices while warning of potential agricultural trade disruptions if the USMCA agreement is not extended. Finally, Mark Russo of EverStream Analytics forecasts another round of severe storms and heavy rainfall for the U.S. Corn Belt before shifting to a drier pattern, while simultaneously warning of a prolonged heat wave and declining soil moisture threatening crops in Western Europe, particularly in France.- Ag Markets with Curt Kimmel, AgMarket.net- Commodity Markets Discussion with Ben Brown- Ag Weather with Mark Russo, EverStream.ai ★ Support this podcast ★

June 12, 2026Episode 1037118 min

Jun 12 | Closing Market Report

The June 12, 2026, Closing Market Report covers recent developments in agricultural markets, regional corporate investments, and long-term weather forecasts. Market analyst Mike Zuzolo notes that wheat and corn surprisingly closed higher despite a bearish USDA WASDE report that lowered the season's average cash price for wheat by 50 cents. Zuzolo attributes underlying market support to strong domestic ethanol and export demand, though he warns that soybeans face downward pressure from competitive South American crops if corn and wheat fail to establish a bottom. In state news, the USDA outlined disaster recovery resources for Illinois farmers recovering from recent tornadoes, and Rural King announced a $75 million investment in a new headquarters in Mattoon, Illinois, which is projected to create 100 local jobs. The broadcast also highlighted an upcoming University of Illinois Extension field day focused on nutrient management. Concluding with an agricultural weather forecast, Eric Snodgrass reports that recent heavy Midwestern rains have restored critical soil moisture, thereby reducing the risk of severe heat in July. Furthermore, Snodgrass highlights NOAA's confirmation of a strong El Nino pattern, which is anticipated to produce a milder, wetter fall and winter that could complicate upcoming harvest and fieldwork schedules.- Ag Markets with Mike Zuzolo, GlobalCommResearch.com- WILLAg News Update for June 12, 2026- Ag Weather with Eric Snodgrass, NutrienAgSolutions.com ★ Support this podcast ★

June 11, 2026Episode 1037023 min

Jun 11 | Closing Market Report

USDA REPORT DAYThe June 11, 2026, Closing Market Report covers updates on agricultural commodity markets, upcoming extension events, agronomic research, and global weather patterns. Jim McCormick of AgMarket.net noted that the USDA's June WASDE report introduced largely bearish global supply revisions for corn, wheat, and soybeans, contributing to lower market closing prices across the board. In agronomic news, Travis Meteer previewed the June 17 Dudley Smith Farm field day, an event connecting beef and row crop producers with University of Illinois researchers to discuss nutrients, water quality, and fertility management. Additionally, agricultural economist Gary Schnitkey highlighted findings from 11 years of Precision Conservation Management data, showing that utilizing no-till or one-pass light tillage systems—alongside maintaining nitrogen rates near the Maximum Return to Nitrogen limit—consistently provides the highest profitability for farmers. Finally, Mike Tannura of T-storm Weather reported that recent intense storms have sufficiently moistened the U.S. Corn and spring wheat belts, while looking abroad, a severe heat wave is expected to negatively impact crops in France, Italy, and Spain next week.- Ag Markets with Jim McCormick, AgMarket.net- June 17 Dudley Smith Farm Field Day Preview- farmdoc Webinar Explores Tillage & Nitrogen Practices- Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★

June 10, 2026Episode 1036923 min

Jun 10 | Closing Market Report

The June 10th Closing Market Report covers agricultural market trends, crop disease management tools, and global weather impacts. Susan Stroud of NoBullAg.com notes that U.S. corn and soybean markets are facing downward pressure due to favorable June weather conditions, absent Chinese demand, and record South American crop yields, though biofuel tax credits provide some structural market support. University of Illinois plant pathologist Boris Camiletti highlights the Crop Protection Network, a collaborative online platform that equips farmers with predictive disease tracking and return-on-investment calculators to optimize fungicide applications for crops like corn and soybeans. Finally, meteorologist Drew Lerner details ongoing agricultural weather risks, emphasizing that heavy, out-of-season rains threaten Brazil's safrinha crop harvest, while frequent showers and cooler temperatures in the U.S. pose quality risks to the winter wheat harvest and exacerbate localized flooding in the Corn Belt.- Ag Markets with Susan Stroud, NoBullAg.com- The Crop Protection Network with Boris Camiletti- Ag Weather with Drew Lerner ★ Support this podcast ★

June 9, 2026Episode 1036823 min

Jun 09 | Closing Market Report

The Closing Market Report from June 9, 2026, details a recent sell-off in commodity markets, with corn, soybean, and wheat prices returning to January lows due to the current absence of a weather premium. The upcoming WASDE report is expected to reflect strong export sales and potential adjustments to old crop carryouts, while technical support levels suggest potential short-term recovery bounces. In agricultural news, the Senate is developing legislation for year-round E15 sales to match a recently passed House bill, and the shipping company Maersk has successfully tested 100% ethanol as a bunker fuel in Rotterdam. Meanwhile, the Strategic Petroleum Reserve is projected to reach its lowest volume since the 1980s, and a Wisconsin farmland auction yielded nearly $22,000 per acre. Furthermore, the rapid expansion of large-scale data centers in the Midwest has prompted significant local and state regulatory pushback regarding energy and water consumption, leading to temporary development moratoriums and the proposed repeal of tax incentives in states such as Illinois and Michigan. Finally, the agricultural weather forecast predicts severe thunderstorms and heat across the northern plains and upper Midwest, which will shortly be followed by a transition to cooler, drier conditions driven by air masses from south-central Canada.- Ag Markets with Naomi Blohm, TotalFarmMarketing.com- WILLAg News Update for June 9, 2026- Lawmakers Rush to Regulate Data Center Development- Ag Weather with Don Day, DayWeather.com ★ Support this podcast ★

June 8, 2026Episode 1036723 min

Jun 08 | Closing Market Report

The June 8, 2026, edition of the Closing Market Report provides an assessment of agricultural commodities, upcoming USDA reports, and global weather impacts. Curt Kimmel of AgMarket.net highlights that a recent screwworm outbreak is causing market volatility, though long-term impacts depend on the disease's spread and its effect on available cattle supplies. Kimmel also anticipates minor adjustments in the upcoming WASDE report, projecting slight decreases in new crop corn ending stocks due to old crop demand, with soybeans and wheat remaining largely unchanged. Frayne Olson from North Dakota State University corroborates this subdued expectation for the June WASDE, noting the USDA is unlikely to revise export forecasts without concrete details from recent US-China trade agreements. Olson emphasizes the significance of the June 30th grain stocks report for tracking feed consumption and explains that recent market fluctuations are heavily influenced by index fund investors shifting capital between energy, agriculture, and the stabilizing stock market. Consequently, Olson advises producers to establish predetermined target prices rather than attempting to time volatile market swings. Finally, Everstream Analytics meteorologist Mark Russo reports that beneficial rainfall and above-average temperatures are accelerating crop development across the US Corn Belt, presenting no immediate yield threats. However, Russo warns that a returning, near-record heatwave combined with dry conditions in Western Europe poses a significant risk to their summer crops.- Ag Markets with Curt Kimmel, AgMarkets.net- Commodity Markets Discussion with Frayne Olson, NDSU Extension- Ag Weather with Mark Russo, EverStream.ai ★ Support this podcast ★

June 5, 2026Episode 1036619 min

Jun 05 | Closing Market Report

This episode of the Closing Market Report features analytical discussions on agricultural markets and regional weather conditions. Market analyst Mike Zuzolo evaluates the New World screwworm outbreak in Mexico, observing that the Mexican beef industry has successfully retooled its supply chain to export boxed beef rather than live feeder cattle. While this structural adjustment addresses immediate border transport constraints, Zuzolo cautions that sustained market stability relies heavily on consistent consumer demand. Additionally, he advises producers to secure fall diesel needs due to ongoing supply chain closures in the Strait of Hormuz. Meteorologist Eric Snodgrass then provides an agricultural weather outlook for the broader Corn Belt. He details a drought pattern that may be developing north of Interstate 72 in Illinois and across surrounding states, emphasizing that immediate rainfall (scheduled for today and over the next several days) is critical for current vegetative crop stages. Snodgrass further outlines predictive variables for mid-summer heat risks—specifically Delta soil moisture and Gulf of Alaska ocean temperatures—while explicitly dismissing a newly released European long-range model predicting a dry late summer due to its severe historical inaccuracies.- Ag Markets with Mike Zuzolo, GlobalCommResearch.com- Ag Weather with Eric Snodgrass, NutrienAgSolutions.com ★ Support this podcast ★

June 4, 2026Episode 1036523 min

Jun 04 | Closing Market Report

In the commodity sector, corn and soybeans experienced a sharp decline, breaking through key moving averages. This downturn was driven by continuous fund selling, speculation about delayed Chinese purchasing, and increased Argentine crop estimates. While farmers have priced approximately 25% of their new crop—outpacing last year's sales—they remain below the 50% to 60% targets recommended by analysts. Future price rallies are heavily dependent on whether the dry northern regions of the Corn Belt receive sufficient rainfall in the coming days.The USDA has confirmed the presence of the New World screwworm in South Texas, initiating a 20-kilometer quarantine zone and releasing sterile flies to halt the infestation. Because the pest spreads almost exclusively through the transportation of infected animals, Midwest herds remain safe as long as cattle are not moved from the southern border area. Pet owners in the affected Texas region are also advised to monitor their animals closely, as the insect feeds on living tissue in open wounds.For growers looking to diversify, premium markets such as non-GMO, organic, and hybrid-specific crops offer strong profit potential. Capitalizing on these premiums requires rigorous on-farm segregation to prevent cross-contamination and proactive planning, as contracts for these specialized programs often reach capacity months in advance.Looking at the weather, the northeast half of the Corn Belt is facing an unusually dry start to the season. An upper-level high-pressure system is expected to maintain above-average temperatures and block major rain events for the next week to ten days. Meanwhile, North American spring wheat is beginning to recover from a historically dry April and May due to recent precipitation, and growing regions across Europe and Russia continue to benefit from highly favorable moisture levels.- Ag Markets with Matt Bennett, AgMarket.net- First Case of New World Screwworm Confirmed in Texas- Premium Crop Market Opportunities Webinar Review with Kelsey Graber, ClarksonGrain.com- Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★

June 3, 2026Episode 1036423 min

CMR | Consolidation in the Fertilizer Industry

This episode of the Closing Market Report examines long-term consolidation trends within the U.S. agricultural sector. Henrique Monaco details findings from a farmdoc daily article on the U.S. nitrogen fertilizer industry, explaining that high concentration—with the top four companies controlling 70% of domestic ammonia production capacity—is the expected result of cost-based competition in a mature commodity market, rather than a reaction to recent geopolitical supply shocks. Agricultural economist Jim MacDonald expands on this theme by outlining parallel consolidation at the farm level. Utilizing a 2,000-acre threshold to ensure consistent tracking devoid of inflation-related distortion, MacDonald notes that large operations expanded their share of U.S. cropland from 15% in 1987 to 41% by 2017. Both experts underscore that economies of scale and cost efficiency remain the primary catalysts for industry consolidation, from input manufacturing to farm-level crop production.- Henrique Monaco, farmdoc Researcher - University of Illinois - Jim MacDonald, Agricultural Economist - University of Marylandfarmdoc Daily Article https://farmdocdaily.illinois.edu/2026/05/consolidation-trends-in-the-us-nitrogen-fertilizer-industry.html ★ Support this podcast ★