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Closing Market Report

Today's wrap-up on the agricultural markets: news, analysis, and weather

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

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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

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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


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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

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CMR | Memorial Day

In this special Memorial Day edition of the Closing Market Report, host Todd Gleason guides listeners through an auditory journey honoring fallen service members and highlighting historical preservation. The broadcast opens by tracing the origins of Memorial Day, originally known as Decoration Day, and emphasizing the National Moment of Remembrance. It then shifts to Ypres, Belgium, to explore the moving nightly "Last Post" ceremony at the Menin Gate, which has commemorated World War I casualties since 1929. Finally, the program returns to the United States to showcase the J.H. Hawes Grain Elevator and Museum in Atlanta, Illinois, detailing the community-led restoration of this 1904 agricultural landmark and its significance to early 20th-century farming.

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May 22 | Closing Market Report

The May 22, 2026, agricultural market report details significant macroeconomic pressures and favorable summer weather projections. Analyst Mike Zuzolo assesses that commodity markets must ration demand for wheat and crude oil due to the ongoing closure of the Strait of Hormuz, which is eliminating 10 million barrels of oil per day and may permanently raise energy and agricultural production costs. Zuzolo critically notes that rising bond yields point toward impending inflation and Federal Reserve rate hikes. Conversely, meteorologist Eric Snodgrass provides a largely optimistic weather outlook, forecasting a warm, drier June that historically benefits corn and soybean yields. Snodgrass concludes that current elevated ocean temperatures in the Pacific and Atlantic significantly diminish the risk of severe, long-duration summer drought or heatwaves in the U.S. Midwest.

- Ag Markets with Mike Zuzolo, GlobalCommResearch.com
- Ag Weather with Eric Snodgrass, NutrienAgSolutions.com


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May 21 | Closing Market Report

- Ag Markets with Matt Bennett, AgMarket.net
- farmdoc 2026 Crop Budget Updates
- Ag Weather with Mike Tannura, Tstorm.net

On this May 21, 2026, edition of the Closing Market Report, host Todd Gleason reviews a mixed trading day as markets respond to ongoing planting progress and US-China trade developments. Matt Bennett of AgMarket.net reports that while planting in Illinois is largely complete, the market is closely watching for future demand signals, specifically whether China will fulfill commitments to purchase US corn and new-crop soybeans. 

Meanwhile, Nick Paulson of the University of Illinois farmdoc team explains that while updated 2026 crop budgets show slight improvements due to higher commodity prices, they still reflect challenging long-term returns, with cost pressures from diesel fuel being partially offset by strong market pricing. 

Looking at weather, Mike Tannura of Tstorm Weather forecasts a transition to warmer temperatures following a cool, wet spring. While the US Corn Belt faces planting delays due to persistent moisture, Tannura expresses more significant concern regarding drought conditions in the US Northern Plains spring wheat region, even as he notes stable crop conditions across the Black Sea and South America. 

The program concludes with a look ahead to this week's Commodity Week, featuring analysis from Collin Waters, Dave Chatterton, and Kurt Kimmel.

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May 20 | Closing Market Report

The May 20, 2026, Closing Market Report covered agricultural commodities, local infrastructure legislation, global energy supply chain disruptions, and international weather impacts. 

Market analysts noted that commodity prices initially rallied on potential Chinese agricultural purchases following a diplomatic meeting, but recently declined due to falling crude oil prices and profit-taking. In local news, the Logan County, Illinois Board bypassed a proposed 90-day freeze and instead approved a 12-month moratorium on a new data center project. On the energy front, the ongoing 80-day closure of the Strait of Hormuz has severely disrupted global supplies of crude oil, gasoline, and engine lubricants, with analysts warning that a full recovery to pre-war inventory levels could extend into late 2027. 

Finally, meteorologists highlighted ongoing drought and freeze stress on U.S. winter wheat, alongside unseasonably wet conditions in Brazil and the Canadian Prairies, though warmer, more favorable planting weather is expected soon for the U.S. Corn Belt.

- Ag Markets with Greg Johnson, TotalGrainMarketing.com
- Logan County IL Board Imposes 12 Month Data Center Moratorium
- Strait of Hormuz Closure May Trigger Years-Long Recovery
- Ag Weather with Drew Lerner, WorldWeather.cc

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May 19 | Closing Market Report

This May 19, 2026, Closing Market Report covers a range of agricultural, economic, and weather updates. In the commodity markets, speculation regarding potential US-China trade deals caused a brief market rally, though prices quickly pulled back due to a lack of specific purchasing details. 

Significant agricultural industry news includes John Deere's preliminary $19.9 million settlement in a "right to repair" class-action lawsuit, as well as growing concerns from scientists over a USDA proposal to relocate vital soybean and maize seed banks out of Illinois. On the legislative front, Illinois lawmakers are considering a ban on the use of eminent domain for CO2 pipelines, while federal efforts face headwinds regarding nationwide year-round E15 fuel access and a newly proposed annual road-funding tax for electric vehicle owners. 

Meanwhile, agricultural energy markets remain volatile and captive to Middle East tensions, prompting advisors to recommend cautious, hand-to-mouth fuel purchasing strategies for farmers. 

Finally, the weather outlook highlights beneficial, albeit sometimes severe, recent rainfall across the Corn Belt and late-season snow in the West, with an active weather pattern expected to resume in the coming week.

- Ag Markets with Naomi Blohm, TotalFarmMarketing.com
- Right to Repair, Seedbanks, CO2 Pipelines, Year-Round E15, EV Tax
- Ag Energies with Dave Chatterton, SFarmMarketing.com
- Ag Weather with Don Day, DayWeather.com

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May 18 | Closing Market Report

The May 18, 2026, Closing Market Report highlighted a strong rebound in commodity futures, fueled by optimism over a potential $17 billion increase in Chinese agricultural purchases facilitated by the Trump administration's proposed US-China Board of Trade. 

Discussing global competitiveness, agricultural economist Joana Colussi noted that while Brazil produces corn at a lower total cost—largely through its second-crop (safrinha) system—the United States remains competitive by achieving double the average yields despite higher overhead and land expenses. 

Finally, meteorologist Mark Russo reported that favorable weather continues to support rapid planting progress in the US Corn Belt and the safrinha crop in Brazil, though severe long-term dryness continues to plague the US hard red winter wheat regions.

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Chapters
- Ag Markets with Curt Kimmel, AgMarket.net
- Comparing Corn Production Costs in the United States and Brazil
- US-China Ag Deliverables: Board of Trade, Soybean Sales, $17bln
- Ag Weather with Mark Russo, EverStream.ai

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