Closing Market Report

This edition of the Closing Market Report covers commodity market movements, supply and demand estimates, and agricultural weather forecasts. Agricultural economist Ben Brown of the University of Missouri reviews disappointing September soybean crush numbers from NOPA, muted Chinese export demand following recent bilateral talks, and the impact of heavy managed money fund liquidation across corn, soybeans, and wheat. Former USDA Chief Economist Seth Meyer analyzes whether last year's record corn crop was overstated, examining how statistical discrepancies in the feed and residual category obscure actual domestic disappearance, alongside emerging shifts in consumer meat demand driven by GLP-1 medications. Finally, Mark Russo of Everstream Analytics details a warm, dry forecast across the Corn Belt that will accelerate harvest progress while keeping soil temperatures above the 50-degree threshold required for fall anhydrous ammonia applications, alongside favorable planting conditions in South America.

00:45 Commodity Markets Discussion with Ben Brown, University of Missouri
12:49 Crop Size and Feed Usage, a Question or Two
20:44 Ag Weather with Mark Russo

The October 16th edition of the Closing Market Report, hosted by Todd Gleason, provides an overview of agricultural markets, shifting consumer demands, and weather forecasts. Market analyst Mike Zuzolo discusses recent trends in the commodity markets, highlighting the influence of inflation, the value of the dollar, and new European export routes on crop prices. The program also features insights from CoBank's Brian Earnest, who explains how the increasing use of GLP1 medications is altering meat consumption, driving demand for protein-dense, leaner beef cuts and poultry. Finally, Eric Snodgrass offers an agricultural weather update, detailing a recent cold front across the Corn Belt, the upcoming harvest window, and the anticipated effects of a strong El Niño winter on both North and South American agriculture.

01:15 Ag Markets with Mike Zuzolo, Global Commodity Analytics and Consulting
07:53 GLP1s and Demand for Animal Proteins
10:59 Ag Weather with Eric Snodgrass, Nutrien Ag Solutions

The October 15, 2026, edition of the Closing Market Report opens with commodity market updates, noting lower closes for corn, soybeans, and wheat. Matt Bennett of AgMarket discusses completing harvest in central Illinois, rapid crop dry-down, local yield results, and current technical price pressures facing both corn and soybean futures. Jim McCormick highlights AgMarket's growth, including its rebrand and transition to becoming a guaranteed introducing broker clearing through StoneX, alongside its brokerage, consulting, and crop and livestock insurance services. A report from Stephanie Hoff and CoBank analyst Billy Roberts details how soaring cocoa prices, reduced sugar beet acreage, and pest pressures are pushing candy makers toward ingredient reformulation and smaller packages to combat consumer sticker shock. Finally, Mike Tannura of Tstorm Weather delivers an agricultural weather outlook, analyzing rain-delayed winter wheat planting in the Southern Plains, favorable harvest windows across the Corn Belt, and the broader impacts of a strong El Niño pattern on soil moisture and crops across Brazil and Argentina.

01:21 Ag Markets with Matt Bennett, AgMarket
06:42 AgMarket Grows, Rebrands, and has a new Clearing Firm
12:12 Candy Makers Grapple with Cocoa, Sugar Headwinds
16:32 Ag Weather with Mike Tannura, Tstorm Weather

Watch the YouTube version of this program at the following link...

https://youtu.be/oYslOpCJWD0?si=W-ZxwAY4kmAXhPNB

Join our panel of agronomic and economic experts, alongside a real-world practitioner, for an in-depth discussion on fall and spring fertilizer management. As farmers face fluctuating input costs and changing weather patterns, making the right nutrient management decisions is more critical than ever.

In this video, the panel breaks down the latest on-farm research and economic data to help you optimize your fertilizer strategy. We cover the logistics of fall anhydrous applications, the importance of the 50-degree soil temperature rule, and how to maximize your Return on Investment (ROI) using Maximum Return to Nitrogen (MRTN) rates. The discussion also dives into practical strategies for managing Phosphorus (P) and Potassium (K) during times of high fertilizer prices, and wraps up with best practices for winter wheat fertility.

In this Wednesday edition of the Closing Market Report, Greg Johnson of Total Grain Marketing highlights that the East Central Illinois soybean harvest is nearing 90% completion with strong yields, though early corn yields are falling 20 to 25 bushels short of last year's marks. Nationally, the USDA Crop Progress Report shows the soybean harvest making rapid gains, particularly in Minnesota, while the U.S. corn harvest lags slightly behind the five-year average. In agricultural news, a global diesel shortage is projected to extend into 2027, compounded by regional violence in the Middle East, alongside updates on federal pardons related to diesel emissions sensors under the Clean Air Act. Finally, World Weather Inc.'s Drew Lerner forecasts incoming rain and a season-ending freeze for parts of the U.S. Midwest, alongside a much-needed dry period for waterlogged crop regions in southern Brazil.

01:33 Ag Markets with Greg Johnson, Total Grain Marketing
09:52 Oct 13 Weekly Crop Progress Report
11:18 WILL TV to Air Morrow Plots 150th 7:30 Thursday
12:06 DEF Sensors, NOx Sensors, EPA, & Pardons
13:10 Saudi Arabia, Diesel Supplies, and Aramco
14:29 Ag Weather with Drew Lerner, World Weather Inc.

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The October 12, 2026, edition of the *Closing Market Report* opens with closing commodity settlement prices for corn, soybeans, wheat, livestock, and energy. Host Todd Gleason discusses recent USDA grain stocks and crop production reports with North Dakota State University Extension agricultural economist Frayne Olson, examining how harvest progress, feed and residual calculations, yield adjustments in Plains states, export pace, and the increased carry-in are impacting corn marketing decisions. In agricultural news, beef industry consultant Nevil Speer analyzes why the administration’s tariff-free foreign beef import quota has failed to significantly move retail ground beef prices, while StoneX vice president Josh Linville reviews international fertilizer supply disruptions linked to conflict in the Middle East. The broadcast concludes with regional weather outlooks for key growing areas across the U.S. Corn Belt and Brazil.

02:11 Commodity Market Discussion with Frayne Olson, North Dakota State University

The October 9, 2026, broadcast of the Closing Market Report features host Todd Gleason analyzing daily commodity markets and the latest USDA crop production estimates. Guest Mike Zuzolo of Global Commodity Analytics and Consulting reviews the unexpected upward revisions to domestic and global corn yields, noting that the data runs counter to recent market trends and creates new headwinds for prices. Additionally, Joshua Nagelberg of CropProphet outlines the agricultural weather forecast, highlighting an incoming wet pattern for the western Corn Belt and evaluating how the current El Nino weather event is impacting early planting conditions for South American crops.

01:32 Ag Markets with Mike Zuzolo, Global Commodity Analytics and Consulting
12:27 Ag Weather with Joshua Nagelberg, CropProphet

The October 8, 2026, edition of the Closing Market Report covers late-season harvest conditions and an exploration of global food systems. Host Todd Gleason first speaks with Matt Bennett of AgMarket.net, who notes that favorable dry-down weather has accelerated the harvest, with soybeans generally outperforming corn yields ahead of the upcoming USDA Crop Production report. The broadcast then shifts to an interview with Michelle Michael and Brandon Whitworth, co-directors of the documentary *World Without Cows*. The filmmakers discuss their travel to 22 countries to document the complex cultural, economic, and environmental roles cattle play worldwide, emphasizing the need for nuanced, non-polarizing conversations about agricultural sustainability and the diverse goals of global producers.

01:42 Ag Markets with Matt Bennett, AgMarket.net
06:46 Alltech's World without Cows Film

Hosted by Todd Gleason from the Land Grant University in Urbana-Champaign, this edition of the Closing Market Report broadcasts from the Independent Grocer Summit in Carterville, Illinois, providing updates on agricultural commodities, rural grocery operations, and global weather. Greg Johnson of TGM reports that the Illinois soybean harvest is progressing swiftly with strong yields, whereas corn yields are proving disappointing due to prior weather damage. Johnson also notes a midday market sell-off as traders await the upcoming USDA crop production report. Shifting to rural food systems, Sean Park from the Illinois Institute for Rural Affairs highlights the challenging operational landscape for independent grocery stores, which average an exceptionally slim 1% net profit margin. Park emphasizes that these rural grocers can remain competitive against large retailers by strictly monitoring unsold inventory, embedding themselves in the community, and developing destination-worthy meat departments. Finally, World Weather Inc. meteorologist Drew Lerner forecasts that Tropical Storm Delta will rapidly intensify into a hurricane before making landfall on the Gulf Coast, bringing severe flooding to southern regions and eventual beneficial rains to the Midwest. Lerner also anticipates a cold front bringing the season's first snow to the northern plains and notes that excessive rain is currently delaying agricultural fieldwork in southern Brazil.

00:30 Ag Markets with Greg Johnson, TGM
08:41 Extension's Independent Grocer Summit
16:46 Ag Weather with Drew Lerner, World Weather Inc