Podcast
Closing Market Report
Hosted by Todd E. Gleason · EN
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
83episodes
Episodes
Newest firstAll episodes
Jun 22 | Closing Market Report
6d ago00:23:50Tap to summarizeThe 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 ★
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Jun 19 | Closing Market Report
1w ago00:23:10Tap to summarizeThe 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 ★
Transcribe →Jun 18 | Closing Market Report
1w ago00:23:50Tap to summarizeNo description available
Transcribe →Jun 17 | Closing Market Report
2w ago00:23:50Tap to summarizeMarket 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 ★
Transcribe →Jun 16 | Closing Market Report
2w ago00:23:50Tap to summarizeThe 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 ★
Transcribe →Jun 15 | Closing Market Report
2w ago00:23:50Tap to summarizeThe 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 ★
Transcribe →Jun 12 | Closing Market Report
2w ago00:18:17Tap to summarizeThe 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 ★
Transcribe →Jun 11 | Closing Market Report
2w ago00:23:50Tap to summarizeUSDA 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 ★
Transcribe →Jun 10 | Closing Market Report
3w ago00:23:50Tap to summarizeThe 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 ★
Transcribe →Jun 09 | Closing Market Report
3w ago00:23:50Tap to summarizeThe 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 ★
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