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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
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 ★
- 2 days ago23 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 ★
- 3 days ago23 min
CMR | What Causes a Dust Storm in Illinois
A blowing dust warning was issued Monday afternoon in rural Champaign County. Strong southerly winds combined with weakening storms kicked up thick plumes of blowing dust from the fields across central Illinois. The national weather service reported that there was near zero visibility reported on at least three interstate highways in Illinois.Although dust storms are common in Illinois, they can often be dangerous. Last year, Illinois experienced a dust storm early in the growing season. A blowing dust advisory was issued for parts of the Chicago area with wind gusts as high as 35 miles per hour.Three years ago a dust storm caused a 84-vehicle pileup along I-55 south of Springfield. Eight people died and dozens more were injured.Doctoral student in Physics at the University of Illinois Urbana Champaign, Maddie Stover and Illinois State Climatologist with the Prairie Research Institute, Trent Ford taking a closer look into this week's dust storms that swept across central Illinois.Funding for Weather Realness is partially provided by the Backlund Charitable Trust. If you have a question for a local scientist on this program, please leave a voicemail at 217.333.2141 or email weatherrealness@illinois.edu- Maddie Stover, host and doctoral student - University of Illinois- Trent Ford, Illinois State Climatologist - ISWS PRI ★ Support this podcast ★
- 4 days ago23 min
Jun 01 | Closing Market Report
This segment of the Illinois Nutrient Loss Reduction Podcast, featured on the Closing Market Report, examines the agronomic impact of the soil microbiome through an interview with Waypoint Analytical's Dr. Lizzie French. The soil microbiome consists of microscopic organisms—including bacteria, fungi, and nematodes—that cycle nutrients, process crop residues, and build soil structure. Waypoint Analytical measures this biological activity using DNA analysis to identify the specific functional capabilities of these microbes, such as their ability to fix nitrogen or solubilize phosphorus. French asserts that implementing conservation practices, including cover crops, reduced tillage, and tile drainage management, provides the necessary habitat and carbon inputs to sustain microbial populations and prevent nutrient runoff. By testing and understanding their soil's biological capacity, producers can optimize fertilizer efficiency and potentially reduce nitrogen applications in soils with robust organic matter, though French cautions that maintaining proper soil pH remains the most critical foundational step for supporting biological activity.- Lizzie French, Soil Biology Manager - Waypoint Analytical, Inc. ★ Support this podcast ★
- 1 weeks ago17 min
May 29 | Closing Market Report
The May 29, 2026, broadcast of the Closing Market Report centers on agricultural commodity trends and the Midwestern weather outlook. Market analyst Mike Zuzolo notes that while wheat, cattle, and corn faced downward pressure from weak weekly export sales and shifting geopolitical conditions, soybean oil demonstrated strong performance driven by favorable crush margins, which helped stabilize the broader soybean market. Looking ahead, Zuzolo suggests that Northern Hemisphere weather uncertainties and the upcoming wheat harvest could introduce upward market potential in the latter half of June. On the agronomic front, meteorologist Eric Snodgrass explains that fluctuating spring temperatures caused atypical early corn root development in some fields he visit in the upper Midwest. He highlights a current warming trend in the Corn Belt, forecasting a generally drier June that will allow crops to accumulate essential Growing Degree Days, followed by a potentially wetter July. The broadcast also outlines upcoming University of Illinois extension events, including the Small Grains Field Day, the Weed Science Field Research Tour, and the "Sustaining Farm Legacy" series.- Ag Markets with Mike Zuzolo, GlobalCommResearch.com- Ag Weather with Eric Snodgrass, NutrienAgSolutions.com ★ Support this podcast ★
- 1 weeks ago23 min
May 28 | Closing Market Report
The May 28, 2026, broadcast of the Closing Market Report features discussions on commodity markets, agricultural news, and weather forecasts. Curt Kimmel reports that corn and soybean markets experienced volatility but ultimately rebounded, driven by optimism over a potential peace agreement and hopes for Chinese goodwill purchases. In policy and trade news, U.S. Trade Representative Jamieson Greer confirmed the administration's commitment to maintaining tariffs, while the National Corn Growers Association advocated for clear guidelines on the 45Z Clean Fuel Production Credit. Other significant developments include Brazil surpassing Argentina as the top exporter of soybean meal and John Deere's $99 million settlement over its right-to-repair policies. Finally, meteorologist Mike Tannura warns of historically dry conditions threatening spring wheat in the northern plains and cautions that an unusually dry forecast for early June could pose significant yield risks across the Corn Belt but that this isn't necessarily the case historically.- Ag Markets with Curt Kimmel, AgMarket.net- University of Illinois Row Crop Events in June- Jaimeson Greer on USMCA Trade Negotiations- Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★
- 1 weeks ago23 min
May 27 | Closing Market Report
This Closing Market Report broadcast from the Land Grant university in Urbana-Champaign, covers recent developments in agricultural markets, fertilizer consolidation, and global weather patterns. Greg Johnson of Total Grain Marketing notes that short-term factors, such as rapid planting progress and dropping crude oil prices, are currently pressuring grain markets, though long-term uncertainties regarding summer weather and yield remain. Henrique Monaco from the farmdoc team briefly highlights the United States' strong domestic capacity for nitrogen and phosphate production, which contrasts with a high reliance on Canadian potassium imports. Finally, Drew Lerner of World Weather Inc. provides a global weather outlook, detailing critical drought relief in the U.S. Southeast and Delta, a beneficial short-term dry down in the Corn Belt, and a rapidly developing El Niño that is expected to bring drier conditions to India and Indonesia in the coming weeks.- Ag Markets with Greg Johnson, TotalGrainMarketing.com- Consolidation in the Fertilizer Industry, farmdocDaily.illinois.edu- Ag Weather with Drew Lerner, WorldWeather.cc ★ Support this podcast ★
- 1 weeks ago23 min
May 26 | Closing Market Report
The May 26, 2026, Closing Market Report indicates a general decline in commodity futures, driven by easing geopolitical tensions in the Middle East and favorable Midwest weather forecasts. Market analyst Naomi Blohm notes that while grain uptrends are holding, they are currently testing critical support levels amid slowing export sales and persistent South American competition. Conversely, fertilizer prices remain highly elevated due to prolonged supply chain and production disruptions in the Strait of Hormuz. Regarding regional crops, Dan O'Brien reports spotty moisture for Kansas wheat, projecting high abandonment rates of up to 25%, while also highlighting a growing global policy shift toward domestic biofuel production. Finally, meteorologist Don Day forecasts near-term hot and dry conditions for central Canada and the northern US Corn Belt, with contrasting precipitation in the Pacific Northwest and Gulf Coast, before weather patterns are expected to normalize in June.- Ag Markets with Naomi Blohm, TotalFarmMarketing.com- CEO of the Fertilizer Institute Corey Rosenbusch- Ag Energies and Kansas Wheat Abandonment with Dan O'Brien, Kansas State Extension- Ag Weather with Don Day, DayWeather.com ★ 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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