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 ★