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Closing Market Report: Daily Summaries Delivered
by Todd E. Gleason
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
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- Yesterday23 min
Jul 28 | Closing Market Report
The July 28, 2026, special edition of the Closing Market Report features an economic outlook for Midwestern row crop farmers presented by University of Illinois agricultural economist Gary Schnitkey. Schnitkey highlights a sustained cost-price squeeze resulting from commodity prices returning to long-run plateaus while input costs remain elevated following their 2022 peaks. This dynamic is projected to cause negative per-acre returns for the 2026 crop year, though ad hoc government payments continue to buffer overall financial losses. Looking ahead to 2027, Schnitkey warns that the ongoing conflict in Iran will likely exacerbate these financial pressures by driving up critical input costs, particularly for diesel fuel and fertilizer. ★ Support this podcast ★
- 2 days ago23 min
Jul 27 | Closing Market Report
The July 27, 2026, edition of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive overview of agricultural market volatility, farm economy risks, and regional weather forecasts. In their final appearances before retirement, analysts Curt Kimmel and Chad Hart discuss recent downturns in commodity prices, attributing the rapid shifts to global conflicts and unexpected geopolitical developments—such as China brokering peace discussions—while advising producers to strategically navigate these volatile marketing conditions. The broadcast also highlights the potential risks to cash rents if federal ad hoc farm payments cease, alongside a brief news segment detailing how growing rural health disparities are negatively impacting the local workforce. Concluding the episode, meteorologist Mark Russo discusses recent severe storms in the Chicago area and forecasts a much-needed shift toward near-normal rainfall and cooler temperatures across the Corn Belt as a high-pressure ridge weakens and moves westward.02:12 Ag Markets with Curt Kimmel, AgMarket.net08:22 Plan Ahead for Fewer Ad Hoc Farm Payments09:18 Rural Health Disadvantages in the U.S10:18 Commodity Markets Discussion with Chad Hart17:36 Ag Weather with Mark Russo, EverStream Analytics ★ Support this podcast ★
- 5 days ago19 min
Jul 24 | Closing Market Report
cmr260724The July 24, 2026, broadcast of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive overview of current agricultural commodities and weather forecasts. Market analyst Dan Basse outlines a bullish, demand-driven outlook for corn and soybeans, citing European droughts, Black Sea conflicts, and expanding US biofuel consumption, while advising producers to utilize marketing tools that maintain upside potential. Following the market analysis, meteorologist Eric Snodgrass details a stark regional divide in crop conditions, noting that severe heat and dryness are heavily stressing the Western Corn Belt while eastern regions fare much better. Snodgrass also cautions that a historic, rapidly intensifying El Niño could lead to a wet, difficult autumn harvest.01:22 Ag Markets with Dan Basse, AgResource Company09:41 Ag Weather with Eric Snodgrass, Nutrien Ag Solutions ★ Support this podcast ★
- 6 days ago23 min
Jul 23 | Closing Market Report
The July 23, 2026, edition of the Closing Market Report examines commodity market volatility, political gridlock affecting agricultural policy, and highly concerning weather forecasts. Matt Bennett of AgMarket.net highlights new contract highs in November soybeans, attributing current market dynamics to geopolitical conflicts in the Black Sea and Iran, combined with the threat of dry weather in the Corn Belt. In political news, legislative progress on the Farm Bill and other GOP initiatives remains stalled due to Mitch McConnell's health-related absence and the passing of Lindsey Graham, which has left Republicans without key committee majorities. Meanwhile, the Renewable Fuels Association is heavily promoting new polling data demonstrating 73 percent bipartisan voter support for year-round E15 gasoline sales in an effort to overcome Senate roadblocks. Finally, Mike Tannura of Tstorm Weather warns that while 30-day rainfall totals appear average, the most recent 15 days were historically dry, and predictive models for the next 14 days project potentially record-breaking heat and drought conditions across major corn and soybean producing regions.02:06 Ag Markets with Matt Bennett, AgMarket.net07:55 McConnell's Absence, Graham's Death Hobble GOP Initiatives09:48 RFA Uses Voter Polling Data to Support E1517:02 Ag Weather with Mike Tannura, Tstorm Weather ★ Support this podcast ★
- 1 weeks ago23 min
Jul 22 | Closing Market Report
The July 22, 2026, edition of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive update on agricultural markets, policy news, and weather forecasts. Market analyst Greg Johnson highlights a recent rally in soybean and wheat prices fueled by strong domestic crush demand and geopolitical tensions in the Black Sea, which has encouraged cash sales among Central Illinois farmers. The news segment covers significant staffing reductions at local Natural Resources Conservation Service (NRCS) offices that threaten conservation programs, alongside a report on the looming economic impact of new Section 301 tariffs following a recent Supreme Court ruling. Finally, meteorologist Drew Lerner offers a weather outlook, noting favorable crop conditions in the eastern Corn Belt while warning of persistent heat and dryness that threaten crops and livestock across the western plains, the Dakotas, and the Delta region.01:56 Ag Markets with Greg Johnson, TGM Total Grain Marketing10:57 24 Illinois Counties Lose Half or All NRCS Staffing11:59 Trump Tariffs Still Looming over Economy14:33 Ag Weather with Drew Lerner, World Weather Inc. ★ Support this podcast ★
- 1 weeks ago23 min
Jul 21 | Closing Market Report
The July 21, 2026, edition of the Closing Market Report, hosted by Todd Gleason, provides an overview of agricultural commodity markets, crop conditions, energy prices, and weather forecasts. Naomi Blohm of Total Farm Marketing analyzes recent rallies in wheat and soybean futures, attributing market movements to European droughts and ongoing geopolitical tensions, while cautioning producers about potential price pullbacks. The broadcast details the latest USDA Crop Progress Report, noting that corn and soybean development is ahead of historical averages across much of the Midwest, and provides an update on tar spot tracking from the Crop Protection Network. Dave Chatterton of Strategic Farm Marketing discusses the volatility in agricultural energies, warning that escalating conflicts in the Middle East and the Black Sea, combined with low strategic petroleum reserves, pose upside risks for fall diesel and fertilizer prices. Finally, Don Day of Day Weather outlines a hot and dry forecast for the northern and western Corn Belt, highlighting concerns about potential crop stress during the critical August period.01:15 Ag Markets with Naomi Blohm, Total Farm Marketing 08:21 USDA Crop Progress Report 10:48 Crop Protection Network Update 12:55 Ag Energies with Dave Chatterton, Strategic Farm Marketing 19:55 Ag Weather with Don Day, Day Weather ★ Support this podcast ★
- 1 weeks ago23 min
Jul 20 | Closing Market Report
The Monday edition of the Closing Market Report provides a factual overview of commodity markets, international trade logistics, and weather forecasts for July 20, 2026. During the segment, analyst Curt Kimmel attributes immediate gains in corn and soybean futures to ongoing Black Sea conflicts, European drought, and Chinese export purchases. The report also outlines the finalized July 27 opening of the Gordie Howe International Bridge, detailing its revised net-revenue toll agreement between Michigan and Canada. Furthermore, economist Ben Brown analyzes the market anomaly of robust Chinese demand for U.S. soybeans despite uncompetitive domestic pricing. Concluding the report, meteorologist Mark Russo notes that while the U.S. Corn Belt faces drier-than-normal conditions without threatening heat, Europe continues to endure severe, crop-damaging heatwaves.01:19 Ag Markets with Curt Kimmel, AgMarket.net 06:18 New Trade Route Between Canada and U.S. to Open 10:31 Ag Markets Discussion with Ben Brown, University of Minnesota 19:08 Ag Weather with Mark Russo, EverStream.ai ★ Support this podcast ★
- 1 weeks ago23 min
Jul 16 | Closing Market Report
The July 16, 2026 edition of the Closing Market Report covers commodity markets, soil management research, and regional agricultural weather patterns. Host Todd Gleason opens the program from the National Association of Farm Broadcasting event in Kansas City, sharing first-hand observations of resilient midwestern corn crops despite recent heat waves. Market analyst Matt Bennett of AgMarket.net discusses current wheat and energy price volatility driven by geopolitical factors, noting that while the corn crop is progressing well through pollination, upcoming weather conditions will determine the extent of market premiums. University of Illinois PhD student Blake Link reports from the Orr Research Center on the expanding necessity of sulfur fertilizers across the Corn Belt, explaining the different forms of sulfur applications and their chemical effects on soil acidity. Finally, Mike Tannura of Tstorm Weather provides a global and domestic agricultural weather outlook, highlighting a temperature divide between a hotter northern region and a milder south, the potential for early-season monsoonal rains in August, and the localized atmospheric impacts of seasonal wildfire smoke on crop photosynthesis and daytime temperatures.01:10 Ag Markets with Matt Bennett, AgMarket.net 08:38 Evaluating the Need for Sulfur Fertilizers in the Corn Belt 16:03 Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★
About Closing Market Report
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
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