Closing Market Report

Todd E. Gleason
  • 4.7 (15)
  • Marketing
  • Updated Daily

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

  1. 23h ago

    Jun 24 | Closing Market Report

    The June 24, 2026, edition of the Closing Market Report covers current commodity market trends, agricultural weed management research, and global weather impacts on crop production. Greg Johnson of Total Grain Marketing notes that commodity markets are experiencing a typical seasonal lull, driven heavily by investment funds liquidating over three billion bushels in long positions. This massive sell-off has depressed prices for corn, soybeans, and wheat, causing farmer selling to dry up as the industry waits for upcoming USDA reports and crucial pollination weather. Shifting to agronomy, Corteva’s Jeff Bode and University of Illinois Crop Scientist Aaron Hager detail the findings from the campus Weed Science Field Day. Their focus centers on evaluating residual herbicides and active ingredients to manage resistant weed species, notably revisiting applications like Metribuzin to combat metabolic triazine resistance in waterhemp. Finally, meteorologist Drew Lerner of World Weather, Inc. details severe global weather disruptions, highlighting a record-breaking, crop-damaging heat wave in France and a significant rainfall deficit in India that threatens a national drought. Domestically, Lerner forecasts a high-pressure ridge building across the Midwest, which is expected to introduce heat and a concerning dry bias to the western Corn Belt, specifically targeting South Dakota, Iowa, Nebraska, and Minnesota. 01:02 Ag Markets with Greg Johnson, Total Grain Marketing07:05 The Land Grant Weed Science Mission07:19 Jeff Bode, Corteva Technical Agronomist10:07 Aaron Hager, University of Illinois Crop Scientist13:46 Ag Weather with Drew Lerner, World Weather, Inc. ★ Support this podcast ★

    24 min

  2. 1d ago

    Jun 23 | Closing Market Report

    The June 23, 2026, edition of the Closing Market Report focuses on dairy production, trade policy, agronomic profitability, energy markets, and regional weather outlooks. Host Todd Gleason opens the program with Naomi Blohm of Total Farm Marketing to analyze the dairy sector and international trade. Blohm notes that the latest milk production report indicates a bearish trend, with May production rising 2.3% year-over-year, driving Class III milk prices below $16 despite robust domestic demand. The discussion transitions to the upcoming mandatory USMCA evaluation on July 1, highlighting market uncertainty regarding the United States' position, contrasted against efforts by Canada and Mexico to strengthen bilateral maritime trade routes. On crop production and management, the program highlights a multi-year data review presented by University of Illinois Extension agricultural economist Gary Schnitkey. The 11-year study reveals that increasing nitrogen application rates above the Maximum Return To Nitrogen (MRTN) baseline or adding extra tillage passes occasionally boosts yields but consistently fails to improve overall net profitability due to elevated input costs. Additionally, Extension weed scientist Aaron Hager previews the university's upcoming annual Weed Science Field Day, detailing its self-guided tour format designed for farmers and commercial applicators. In the agricultural energy segment, Kansas State University Extension economist Dan O'Brien reports stable domestic ethanol production, operating at approximately 89.3% of plant capacity across 201 active facilities. Plant profit margins remain steady between 11 and 15 cents per gallon, with eastern corn belt ethanol plants currently paying the highest cash corn prices in the nation. Turning to regional crop conditions, O'Brien characterizes the 2026 Kansas wheat harvest as exceptionally poor, citing near-record-low harvested-to-planted acreage ratios caused by severe storm and derecho damage. 00:42 Ag Markets with Naomi Blohm, Total Farm Marketing07:42 High N-Rates and More Tillage Do Not Pay10:54 USMCA Review Begins July 1 with an Uncertain Future14:44 Ag Energies with Dan O'Brien, Kansas State Extension19:58 Ag Weather with Don Day, Day Weather ★ Support this podcast ★

    24 min

  3. 2d ago

    Jun 22 | Closing Market Report

    The June 22, 2026, Closing Market Report highlights a sharp contrast in global weather patterns and their developing impacts on crop conditions. In the United States, the Corn Belt and Southern growing regions are currently maintaining highly favorable soil moisture levels, setting a strong baseline for development. However, recent heavy rainfall and consecutive weeks of flooding in parts of the Midwest are expected to result in a 1% to 3% downgrade in the upcoming crop conditions report. In stark contrast, Europe is enduring a severe, record-setting heatwave with below-normal rainfall, raising significant moisture stress concerns for summer crops like corn and sunflowers, particularly in France. Meanwhile, South American harvests in Brazil are progressing smoothly with only minor, localized disruptions. Market attention is increasingly shifting toward the upcoming USDA grain stocks and acreage reports. Driven by rapid spring planting speeds and broader financial pressures, agricultural economists project a potential increase in both corn and soybean acres, as farmers frequently favor these traditional crops during tight financial periods. This shifting landscape is further framed by long-term structural changes in Southern U.S. agriculture, which has suffered a disproportionate loss of 32 million harvested acres over the past century. This massive historical decline has led analysts to question whether federal safety nets that heavily favor cotton, peanuts, and rice are inadvertently stifling regional innovation and crop diversification. In livestock and international trade, domestic beef demand continues to outpace expectations and remains robust, even with ongoing headline concerns regarding screwworm in Mexican cattle herds. On the geopolitical stage, Vice President J.D. Vance announced a proposed structural agreement regarding Iran, where any potential unfreezing of Iranian financial assets would require joint U.S. and Qatari oversight and be strictly earmarked for the purchase of American soy, corn, and wheat. While these geopolitical headlines introduce short-term volatility, market experts emphasize that traders must focus on strong domestic crop usage, robust export paces, and baseline supply and demand fundamentals to accurately navigate the marketplace. 00:00 The About Southern Agriculture Edition02:02 Ag Markets with Curt Kimmel, AgMarket.net07:35 V.P. Vance mentions a possible Corn, Soy, Wheat Deal with Iran09:42 The Evolving US Southern Crop Problem12:14 Commodity Markets Discussion with Chad Hart17:50 Ag Weather with Mark Russo, Ever Stream Analytics ★ Support this podcast ★

    24 min
  4. Jun 19 | Closing Market Report

    6d ago

    Jun 19 | Closing Market Report

    The June 19 Closing Market Report provides a historical overview of the legislative and military milestones that culminated in the abolition of slavery in the United States. The broadcast begins by outlining the Morrill Acts of 1862 and 1890, which established Land Grant Universities and Historically Black Colleges and Universities to expand equitable access to public education. It then details the 1863 Emancipation Proclamation, which strategically shifted the Civil War's primary objective toward ending slavery and authorized the enlistment of Black soldiers, a directive subsequently formalized by General Order 143 to create the U.S. Colored Troops. As the conflict concluded with the Confederate surrender at Appomattox, the Wade-Davis Bill established stringent Reconstruction protocols for readmitting the defeated states to the Union. The timeline concludes with the formal constitutional abolition of slavery through the 13th Amendment and the enforcement of emancipation in Texas via General Order No. 3 on June 19, 1865, the historic event now nationally commemorated as Juneteenth. 00:43 The Morrill Acts & HBCUs05:37 The Emancipation Proclamation13:25 General Order 14317:14 Reconstruction and the Wade-Davis Bill19:02 Surrender at Appomattox20:29 The 13th Amendment21:04 June 19, 1865, General Order #3 ★ Support this podcast ★

    23 min

  5. 6d ago

    Jun 18 | Closing Market Report

    Closing Market Report

    24 min

  6. Jun 17

    Jun 17 | Closing Market Report

    Market Overview and Commodity TrendsThe June 17, 2026, broadcast of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive update on agricultural markets, policy news, and global weather conditions. In the commodities segment, Greg Johnson of Total Grain Marketing details a recent market sell-off driven by favorable Midwest weather, expectations of higher planted acreage, and declining oil prices linked to a Middle East memorandum of understanding (MOU). This combination of factors has prompted investment funds to liquidate their long positions in corn and pare back on soybeans. Johnson advises farmers to adjust their pricing expectations, noting that a significant rally would require a major weather event later in the summer or a return of Chinese soybean purchases. Agricultural Policy and Global FinanceThe program also covers recent geopolitical and agricultural news, highlighting President Donald Trump’s cautious public remarks regarding the finalization of the Middle East MOU, despite White House officials confirming its digital signing. Domestically, the broadcast outlines a legislative push in the Senate to permanently lift summertime restrictions on E-15 ethanol and reports on a growing New World screwworm outbreak threatening livestock in Texas. On the financial front, the US Farm Credit System remains stable despite broader economic challenges, presenting a stark contrast to Brazil, where lower grain prices and high interest rates are driving a surge in farm bankruptcies and loan defaults. Global Weather ImpactsMeteorologist Drew Lerner from World Weather, Inc. concludes the report with a global agricultural weather outlook. In the United States, unusually cool temperatures and excessive moisture are slowing crop development across the Midwest and Northern Plains, though warmer weather is expected by July. In Europe, a severe heatwave and prolonged dry spell are heavily stressing winter crops, particularly in France. Looking toward Asia, a strengthening El Niño is forecast to bring significant dryness to Indonesia, Malaysia, and the Philippines later in the year, while simultaneously causing excessive, crop-damaging rainfall across the rice and sugarcane regions of southern China. 01:18 Ag Markets with Greg Johnson, Total Grain Marketing09:12 President Trump Hedges on MOU Signing15:16 Ag Weather with Drew Lerner, World Weather, Inc. ★ Support this podcast ★

    24 min

  7. Jun 16

    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 ★

    24 min

  8. Jun 15

    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 ★

    24 min
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Ratings & Reviews

4.7
out of 5
15 Ratings

About

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

Information

  • Creator
    Todd E. Gleason
  • Years Active
    2015 - 2026
  • Episodes
    1.2K
  • Rating
    Clean
  • Copyright
    © University of Illinois
  • Show Website
    Closing Market Report

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