Closing Market Report

The September 16, 2026, edition of the Closing Market Report, hosted by Todd Gleason from Illinois Public Media and University of Illinois Extension, covers current commodity markets, agricultural farm management, energy infrastructure, and global weather patterns. The broadcast begins with a commodity market recap featuring Greg Johnson of Total Grain Marketing, who discusses grain and livestock price action, market volatility tied to rumors concerning Chinese President Xi Jinping, CONAB’s Brazilian crop projections, and strong spec fund positions amid the early U.S. harvest. Gleason then previews a farmdoc report and upcoming webinar by Gary Schnitkey and Nick Paulson analyzing Illinois county cash rent trends for 2026 and projections into 2027. Transitioning to rural infrastructure, Stephanie Hoff reports on how electric cooperatives are managing the surge in electricity demand from large-scale data centers, featuring insights from NRECA CEO Jim Matheson on permitting hurdles and grid reliability. Finally, meteorologist Drew Lerner of World Weather, Inc. provides a global crop weather update, reviewing drought conditions in the Southern Plains, wet field conditions slowing harvest across portions of the Corn Belt, historically dry waterways impacting grain transport in France and Europe, and early-season planting rainfall across South America. 02:38 Ag Markets with Greg Johnson, TotalGrainMarketing.com 11:10 farmdoc Updates Illinois Cash Rents by County Map 12:52 Data Centers and Electirc Cooperatives 16:10 Ag Weather with Drew Lerner, WorldWeather.cc ★ Support this podcast ★

The September 15, 2026, broadcast of the Closing Market Report, hosted by Todd Gleason, outlines current commodity market movements, agricultural energy constraints, and harvest weather forecasts. Naomi Blohm highlights unexpected technical strength in soybean futures despite bearish USDA data, while analyzing Brazilian crop estimates and anticipated Federal Reserve interest rate hikes. Dave Chatterton details a severe degradation in global diesel inventories driven by concurrent international conflicts, pushing fuel prices to historic highs as the U.S. harvest begins. Finally, Don Day forecasts a persistent, week-long rain event across the northern Corn Belt that will stall early harvest operations before giving way to cooler, drier conditions in October. 01:41 Ag Markets with Naomi Blohm, TotalFarmMarketing.com 09:53 Ag Energies with Dave Chatterton, Strategic Farm Marketing 18:11 Ag Weather with Don Day, DayWeather.com 21:45 2027 Cash Rent Negotiations Webinar Thursday @ 11am Central ★ Support this podcast ★

The September 14, 2026, broadcast of the Closing Market Report, hosted by Todd Gleason of the University of Illinois Extension, features three primary discussions centered on agricultural markets, agronomic practices, and weather forecasting. Agricultural economist Frayne Olson explores the commodity markets, explaining how surging energy prices and transportation fuel surcharges influence grain basis levels and delivery timing without significantly impacting overall demand. Olson also highlights that widespread drought in North Dakota is negatively affecting local corn and soybean yields. In the second segment, University of Illinois entomologist Nick Seiter discusses the return on investment for prophylactic insecticide applications in corn and soybeans. He notes that standard insecticide inclusions with fungicides or seed treatments rarely provide economic value, as insect populations in Illinois typically do not reach yield-limiting thresholds. Finally, meteorologist Mark Russo from EverStream Analytics delivers a regional weather outlook, predicting warm, dry conditions conducive to rapid harvesting in the southern Corn Belt. Russo also notes that a historically strong El Niño pattern is bringing necessary moisture for hard red winter wheat planting across the southwestern Plains. 01:31 Ag Markets with Frayne Olson, North Dakota State University 11:52 The ROI of "it's included" Insecticides 18:36 Ag Weather with Mark Russo, EverStream.ai ★ Support this podcast ★

The September 11, 2026, edition of the Closing Market Report, hosted by Todd Gleason from University of Illinois Extension, covers agricultural commodity markets, agronomy updates, and seasonal weather patterns affecting harvest. The program begins with market analysis from Mike Zuzolo of GlobalCommResearch.com, who evaluates the latest USDA WASDE and crop production estimates alongside settling grain prices, the unwinding of soy-corn spreads, technical price thresholds, and the influence of rising crude oil prices driven by Middle Eastern geopolitical tensions. Abigail Peterson of the Illinois Soybean Association then recaps the ISA Field Day in Decatur, highlighting on-farm trial protocols, cover crop biomass studies for weed suppression, free soybean cyst nematode testing, and upcoming winter residue management workshops. Finally, atmospheric scientist Eric Snodgrass of Nutrien Ag Solutions breaks down regional and global weather trends, noting an unusually quiet Atlantic hurricane season 01:53 Ag Markets with Mike Zuzolo, GlobalCommResearch.com 08:41 Recapping the ISA Field Day in Decatur 15:11 Ag Weather with Eric Snodgrass, NutrienAgSolutions.com ★ Support this podcast ★

The September 10, 2026 edition of the Closing Market Report provides a comprehensive overview of commodity markets, fall fertilizer strategies, and agricultural weather. Matt Bennett of AgMarket.net attributes recent market gains to confirmed Chinese purchases and tight global soybean stocks, advising producers to manage risk through hedging rather than relying on continued rallies. John Jones, a University of Illinois soil scientist, outlines fall fertilizer recommendations, stressing the economic value of targeted grid or zone soil testing for phosphorus and potassium to avoid unnecessary applications. He also emphasizes utilizing the Corn Nitrogen Rate Calculator to optimize anhydrous ammonia rates. Lastly, Mike Tannura of Tstorm Weather forecasts a shift toward cooler, wetter conditions in the central United States that should benefit wheat planting, while noting unusually heavy early-season rainfall in southern Brazil and the developing impacts of a historically strong El Niño pattern. 01:02 Ag Markets with Matt Bennett, AgMarket.net 07:55 UofIL Fall Fertilizer Application Recommendations 17:04 Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★

This episode of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive update on commodity markets, the beef industry, and global agricultural weather. The program begins with Greg John from Total Grain Marketing, who discusses pre-report estimates for upcoming USDA crop production figures, noting expected yield drops for corn and soybeans, alongside the potential market impacts of Chinese commodity purchasing. Next, University of Illinois extension beef specialist Travis Meteer analyzes the current cattle cycle, explaining how meatpacking plant closures and low herd inventories are shaping the industry while cattle are being fed to all-time heavy weights to compensate for lower head counts. Finally, Drew Lerner of World Weather Incorporated delivers a global weather outlook, highlighting the erratic early-season showers in Brazil, persistent heat in the southwestern United States, harvest-delaying rains across the Midwest, and a large storm system threatening crop quality in the Canadian Prairies. 01:43 Ag Markets with Greg Johnson, TotalGrainMarketing.com 11:10 Thoughts on the State of the Beef Industry 14:46 Ag Weather with Drew Lerner, WorldWeather.cc ★ Support this podcast ★

The September 8, 2026, edition of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive overview of commodity trade, agricultural policy, and regional weather. Following the settlement numbers, Naomi Blohm of TotalFarmMarketing.com analyzes quiet post-holiday trade action in corn and soybeans, strong overnight gains in wheat driven by Black Sea developments, and market positioning ahead of the USDA's upcoming WASDE report. The program then examines federal agricultural policy, detailing producer dissatisfaction over the Trump administration's 90-day tariff suspension on South American beef imports, featuring commentary from Nebraska cattle rancher John O'Dea on producer margins, and reviewing executive orders targeting meatpacker concentration. University of Minnesota agricultural economist Ed Usset follows with historical context on August grain rallies, comparing current market movements to previous years—such as 2003, 2011, and 2022—while cautioning against expectations of runaway harvest rallies. Finally, meteorologist Don Day of DayWeather outlines the regional forecast, highlighting modest temperature relief and scattered shower activity extending into the Corn Belt and southern Plains fueled by subtropical moisture from the Pacific. 01:59 Ag Markets with Naomi Blohm, TotalFarmMarketing.com 08:25 Beef Imports, Meatpackers, Ranchers, and the Oval Office 11:13 Commodity Market Discussion with Ed Usset 20:36 Ag Weather with Don Day, DayWeather.com ★ Support this podcast ★

I’m Todd Gleason for University of Illinois Extension with a history of labor day in the United States. It’s adapted from a story found on the United States Embassy to Sweden’s website. Eleven-year-old Peter McGuire sold papers on the street in New York City. He shined shoes and cleaned stores and later ran errands. It was 1863 and his father, a poor Irish immigrant, had just enlisted to fight in the Civil War. Peter had to help support his mother and six brothers and sisters. Many immigrants settled in New York City in the nineteenth century. They found that living conditions were not as wonderful as they had dreamed. Often there were six families crowded into a house made for one family. Thousands of children had to go to work. Working conditions were even worse. Immigrant men, women and children worked in factories for ten to twelve hours a day, stopping only for a short time to eat. They came to work even if they were tired or sick because if they didn't, they might be fired. Thousands of people were waiting to take their places. When Peter was 17, he began an apprenticeship in a piano shop. This job was better than his others, for he was learning a trade, but he still worked long hours with low pay. At night he went to meetings and classes in economics and social issues of the day. One of the main issues of concern pertained to labor conditions. Workers were tired of long hours, low pay and uncertain jobs. They spoke of organizing themselves into a union of laborers to improve their working conditions. In the spring of 1872, Peter McGuire and 100,000 workers went on strike and marched through the streets, demanding a decrease in the long working day. This event convinced Peter that an organized labor movement was important for the future of workers' rights. He spent the next year speaking to crowds of workers and unemployed people, lobbying the city government for jobs and relief money. It was not an easy road for Peter McGuire. He became known as a "disturber of the public peace." The city government ignored his demands. Peter himself could not find a job in his trade. He began to travel up and down the east coast to speak to laborers about unionizing. In 1881, he moved to St. Louis, Missouri, and began to organize carpenters there. He organized a convention of carpenters in Chicago, and it was there that a national union of carpenters was founded. He became General Secretary of the United Brotherhood of Carpenters and Joiners of America. The idea of organizing workers according to their trades spread around the country. Factory workers, dock workers and toolmakers all began to demand and get their rights to an eight-hour workday, a secure job and a future in their trades. Peter McGuire and laborers in other cities planned a holiday for workers on the first Monday in September, halfway between Independence Day and Thanksgiving Day. On September 5, 1882 the first Labor Day parade was held in New York City. ★ Support this podcast ★

The September 4, 2026, edition of the *Closing Market Report*, hosted by Todd Gleason on Illinois Public Media, reviews commodity market movements, agricultural news, and regional weather patterns heading into the Labor Day weekend. Mike Zuzolo of Global Commodity Analytics discusses softer corn, soybean, and wheat trade amid an accelerating early Midwest harvest, while evaluating upcoming USDA crop production estimates, geopolitical developments in the Black Sea and Middle East, and potential volatility surrounding U.S.-China relations. In agricultural news, Gleason covers the 2026 National Cover Crop Report showing expanded acreage among growers, followed by USDA research entomologist Alex Arp detailing "Novafly"—a new genetic strain engineered to eliminate female embryos and optimize sterile male production for New World screwworm eradication. Concluding the broadcast, Nutrien Ag Solutions meteorologist Eric Snodgrass outlines persistent late-summer heat and drought stress across the Corn Belt and Western United States, sluggish Atlantic hurricane activity linked to El Niño, and irregular rainfall patterns threatening early soybean planting across South America's Center West. 00:56 Ag Markets with Mike Zuzolo, Global Commodity Analytics 08:38 WILLAg News | Cover Crop Usage Up & a New Way to Control NWS 11:34 Ag Weather with Eric Snodgrass, Nutrien Ag Solutions ★ Support this podcast ★

The September 3, 2026, broadcast of the *Closing Market Report*, hosted by Todd Gleason, covers commodity price movements, farm financial projections, federal data initiatives, and severe weather patterns affecting agriculture. Matt Bennett of AgMarket.net analyzes the day's market dynamics, highlighting how grain futures rebounded from early-session lows as speculative buying met profit-taking ahead of the three-day holiday weekend, while noting that late-season heat is rapidly advancing crop drydown without heavily damaging early-planted corn. Looking ahead to 2026 and 2027 budgets, University of Illinois agricultural economist Nick Paulson reports that while higher corn and soybean prices are driving positive projected net returns in Central and Northern Illinois, rising input costs—especially for fertilizer and fuel tied to Middle Eastern geopolitical conflict—continue to keep overall margins below long-term historical averages of $100 per acre. From the Farm Progress Show in Boone, Iowa, USDA Under Secretary Scott Hutchins details the agency's four-pillar data modernization initiative aimed at reducing survey burdens on farmers, utilizing satellite and NASA geospatial imagery for yield forecasts, eliminating cross-agency redundancy through AI and advanced analytics, and improving reporting transparency. Concluding the report, meteorologist Mike Tannura of Tstorm Weather warns of historic late-season heat running 8 to 10 degrees above normal across the U.S. Corn Belt, while pointing to an exceptionally strong El Niño pattern that is bringing unseasonable early rains to central Brazil and heavy precipitation to southern South American grain belts. 01:50 Ag Markets with Matt Bennett, AgMarket.net 07:12 farmodc 2027 Corn and Soybean Returns 13:48 USDA Announces Data Modernization Plan 16:22 Ag Weather with Mike Tannura, Tstorm Weather ★ Support this podcast ★

The September 2, 2026 edition of Illinois Public Media's Closing Market Report, hosted by Todd Gleason, examines commodity market trends, local environmental policy, and global agricultural weather patterns. Following the opening commodity market settlements, Greg Johnson of Total Grain Marketing analyzes multi-year highs in corn and soybean futures, the psychological dynamics of farmer selling, early harvest expectations driven by late-summer heat, and updated crop budget estimates from the University of Illinois farmdoc team. The broadcast then highlights civic discourse in Champaign County, featuring University of Illinois environmental science student Bruce Beem, who details public testimony regarding proposed hyperscale data centers—specifically emphasizing concerns over long-term site remediation, and inadequate human-centric noise metrics and artificial light disruption along avian migratory corridors. Finally, meteorologist Drew Lerner of World Weather Incorporated delivers a regional and global forecast, evaluating persistent drought conditions across the U.S. hard red winter wheat belt, planting moisture outlooks in central Brazil, and international El Niño impacts spanning Indonesian wildfires and drenching rainfall in the Philippines. 01:21 Ag Markets with Greg Johnson, TGM 08:28 Data Centers, Civic Engagement, and University Educations 14:38 Ag Weather with Drew Lerner, World Weather Inc ★ Support this podcast ★

The September 1, 2026, edition of the Closing Market Report, hosted by Illinois Extension’s Todd Gleason on Illinois Public Media, provides an in-depth review of key regulatory, market, agronomic, and weather developments impacting agriculture. Agricultural economist Scott Irwin discusses the EPA's decision to grant 1.8 billion gallons in small refinery exemptions (SREs) for 2025, explaining how the agency’s supplemental rulemaking to reallocate 100% of those volumes into 2026 and 2027 mandates effectively neutralizes potential demand losses and supports the biodiesel and soy complex. Market analyst Naomi Blohm of Total Farm Marketing reviews the rally in soybean futures above $13 resistance, highlighting strong domestic demand, Chinese export sales, and the market impacts of geopolitical friction in the Black Sea and Middle East. Agricultural economist Nick Paulson explains how surging global sulfur prices—driven by Middle Eastern conflict and petroleum byproduct supply disruptions—are increasing the cost of MAP and DAP phosphate fertilizers ahead of fall applications. Finally, meteorologist Don Day of Day Weather breaks down the persistent, above-average heat across the Corn Belt and evaluates upcoming rainfall chances for early soybean planting in Brazil. 01:05 Trump Admin's EPA SRE Announcement a Reallocation 05:29 Ag Markets with Naomi Blohm, Total Farm Marketing 10:27 Sulfur and Increasing Phosphate Fertilizer Prices 20:20 Ag Weather with Don Day, Day Weather ★ Support this podcast ★

The August 31, 2026, edition of the Closing Market Report, hosted by Todd Gleason, covers daily market settlements, global trade dynamics, regional basis movements, and historic severe weather. Agricultural economist Joe Janzen discusses Colombia’s growing role as a top destination for U.S. corn and soybean meal, advising growers to carefully weigh storage and interest costs against harvest time cash flow needs rather than leaving grain unpriced. Purdue University’s Josh Strine outlines late-summer basis trends, noting widespread corn basis weakness across the Eastern Corn Belt alongside sharp soybean basis gains concentrated in Western Iowa. Finally, Illinois State Climatologist Trent Ford reviews the state's record-shattering 2026 tornado count, which surpassed 200 following major outbreaks in April and June. 02:00 Sabbatical Insights from Columbia and the Grain Trade 15:38 Corn and Soybean Basis thru July and August 19:18 Not Quite Tornado Alley but Getting There ★ Support this podcast ★

The August 28, 2026, edition of the *Closing Market Report*, hosted by Todd Gleason, provides an overview of commodity market movements, agronomic crop conditions, and regional weather forecasts. Mike Zuzolo of Global Commodity Analytics analyzes the late-summer market rally, attributing price strength to supply constraints from Black Sea export disruptions, geopolitical tensions, and demand rationing, while recommending a sell-and-defend marketing approach for producers. University of Illinois Extension soil fertility specialist John Jones addresses the impact of early-summer precipitation on nitrogen availability, noting that while localized losses and field variability may slightly soften average yields, remobilization of nitrogen already stored within the plant canopy will sustain grain fill for the majority of the corn crop. Concluding the broadcast, Nutrien Ag Solutions meteorologist Eric Snodgrass discusses the upcoming shift from a cool, wet August to warmer, drier conditions in September across the Corn Belt, while highlighting the broader implications of an intensifying El Niño on potential U.S. harvest delays and South American planting schedules. 01:22 Ag Markets with Mike Zuzolo, Global Commodity Analytics and Consulting 09:30 Corn Uses N Stored in the Plant for Grain Fill 16:43 Ag Weather with Eric Snodgrass, Nutrien Ag Solutions ★ Support this podcast ★

Hosted by Todd Gleason, the August 27, 2026, edition of the *Closing Market Report* examines agricultural commodity trends, biofuels policy, and late-summer weather. Matt Bennett of AgMarket.net reviews recent market rallies and advises producers to utilize incremental risk management strategies, while noting that global wheat markets are reacting strongly to escalating Russia-Ukraine tensions. Agricultural economist Scott Irwin discusses the Renewable Fuel Standard and the potential economic fallout if the Trump administration grants more Small Refinery Exemptions (SREs) for 2025. Irwin warns that reversing biomass-based diesel mandates would severely cut soybean oil usage, potentially costing soybean producers billions of dollars. Finally, meteorologist Mike Tannura of Tstorm Weather forecasts a historic, late-season heat wave across the Corn Belt, warning that an impending string of days with temperatures in the 90s will challenge late-stage grain fill and complicate analysts' final yield expectations. The broadcast concludes by highlighting upcoming *farmdoc* webinars and the *Commodity Week* program. 02:08 Ag Markets with Matt Bennett, AgMarket.net 09:47 SREs and the Price of Soybeans 17:09 Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★

The August 26, 2026, broadcast of the Closing Market Report features three primary segments covering agricultural markets, community programs, and weather forecasts. Greg Johnson of TGM analyzes a significant recent rally in commodity prices, attributing the gains to global supply-side pressures and the Pro Farmer crop tour, while advising producers to capitalize on current profitable margins. The program then shifts to farmer and broker Garrett Toay, who highlights the localized benefits of Dolly Parton’s Imagination Library on early childhood literacy. Finally, Drew Lerner of World Weather Inc. examines global and domestic weather patterns, utilizing historical El Niño data to project a warmer, drier trend for the western Corn Belt and stabilizing conditions in the eastern regions. 01:17 Ag Markets with Greg Johnson, TGM 10:49 Dolly Parton's Imagination Library and a Farmer's Family 13:59 Ag Weather with Drew Lerner, World Weather Inc ★ Support this podcast ★

This is a summary of the August 25, 2026, edition of the Closing Market Report. In today's program, Naomi Blohm of Total Farm Marketing analyzed current agricultural markets, highlighting an inside trading day for corn and beans while cautioning that a lack of fresh bullish news could lead to a near-term price pullback. She also emphasized the ongoing impacts of Canadian trade tensions and global conflicts on market stability. The broadcast then detailed practical cover crop and no-till management strategies from Illinois farmers Adam Dahmer, Brent Fowler, and Greg Thoren. They stressed the necessity of proper equipment calibration, adjusting planting angles to avoid old corn rows, and utilizing cover crops for targeted erosion control. Finally, Don Day of Day Weather outlined the agricultural forecast, noting a favorable shift toward warmer, drier conditions in the Corn Belt for late August, while advising producers to monitor potential tropical development heading into September. 00:42 Ag Markets with Naomi Blohm, Total Farm Marketing 05:59 Cover Crop Conversations: practical management advice 20:09 Ag Weather with Don Day, Day Weather ★ Support this podcast ★

This edition of the *Closing Market Report*, hosted by Todd Gleason, covers commodity market movements, Illinois crop prospects, and global agricultural weather. Sherman Newlin of Zaner Ag Hedge reviews the findings from the Pro Farmer Crop Tour, discussing observed crop stress, shorter ear lengths, and market reactions to reduced yield estimates in Illinois and Indiana. Following a brief announcement for an upcoming FarmDoc webinar on farmland values, cash rents, and energy leases, University of Illinois agronomist Giovani Preza Fontes examines corn development, explaining that despite widespread "tip back," adequate soil moisture and favorable grain-filling conditions keep USDA's 212-bushel-per-acre projection attainable. Finally, Mark Russo of EverStream Analytics provides an ag weather outlook, forecasting drier, seasonal conditions across the Corn Belt, subdued Atlantic hurricane activity due to a strong El Niño, and critical moisture trends across the U.S. Plains, Europe, and Brazil. 01:00 Ag Markets with Sherman Newlin, Zaner Ag Hedge 08:52 WEBINAR PROMO | Rents and Prices Outlook: Results from a Mid-Year Survey 10:27 Corn Prospects in Illinois on Track with USDA 18:34 Ag Weather with Mark Russo, EverStream Analytics ★ Support this podcast ★

The Pro Farmer national yield predictions released today present a sharply mixed outlook for this year's harvest, diverging significantly from recent USDA estimates. Pro Farmer pegs the national corn yield at just 173.2 bushels to the acre—down sharply from the USDA’s 180.7 estimate—driven primarily by lower ear counts and persistent nutrient loss across the rain-soaked eastern corn belt. Conversely, they project a record-breaking soybean crop at 53.3 bushels to the acre, supported by impressive pod counts and sufficient moisture to finish the crop out strong. Market analysts anticipate this divergence will prompt a bullish reaction in corn and pressure soybean prices, particularly as the trade looks ahead to critical late-September trade negotiations between the US and China. In the livestock sector, a newly announced plan to import 300,000 metric tons of African beef is expected to heavily pressure domestic cattle prices heading into the fall. Fortunately for Midwest row crops, the weather pattern is finally shifting toward a drier, sunnier trend that will provide the essential growing degree days needed to finish the season. 00:40 Ag Markets with Mike Zuzolo, GlobalCommResearch.com 07:29 Pro Farmer 173.2 Corn / 53.3 Soybean 12:41 Ag Weather with Eric Snodgrass, Nutrien Ag Solutions ★ Support this podcast ★

The August 20, 2026, Closing Market Report highlights critical observations from the Pro Farmer Crop Tour, revealing significant regional crop yield discrepancies across the Midwest. Market analysts Matt Bennett, Oliver Sloup, and Sherman Newlin confirm that while eastern Iowa and Minnesota project strong corn yields, excessive moisture in Illinois and drought conditions in western Iowa will likely necessitate downward revisions to current USDA estimates for those states. Despite localized nitrogen loss and lower ear counts in the eastern Corn Belt, Bennett anticipates upward adjustments to national soybean yields due to favorable late-season finishing conditions. Meteorologist Mike Tannura forecasts a generalized drying trend and normalized temperatures moving into September, indicating that late-season weather variables will have a diminishing impact on final production numbers. 02:07 Ag Markets with Matt Bennett, AgMarket.net 07:18 Pro Farmer Crop Tour with Oliver Sloup and Sherman Newlin 07:28 Crop Tour Update from Corn Belt Garden Spot 12:32 Crop Tour Update from Western Iowa and Minnesota 20:11 Ag Weather with Mike Tannura, Tstorm.net ★ Support this podcast ★