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- Curt Kimmel, AgMarket.net
- Aaron Hager, University of Illinois
- Mark Russo, EverStream.ai
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- Aaron Hager, University of Illinois
- Mark Russo, EverStream.ai
Creators and Guests
What is Closing Market Report?
Celebrating 40 Years | 10,000 Episodes
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
From the Land Grant University in Urbana Champaign, Illinois, this is the closing market report. It is the September 2025. I'm extension's Todd Gleason. Coming up, we'll talk about commodity markets with Kurt Kimmel. He's at agmarket.net.
Todd Gleason:We'll hear from Aaron Hager about the changing chemistry classes for weed control. That's right. There's a new class of chemistry that's coming. Haven't heard that one in a couple of decades. You'll wanna stay with us for that.
Todd Gleason:And then we'll turn our attention to the weather forecast too. We'll talk with Mark Russo from Everstream Analytics on this Monday edition of the closing market report from Illinois Public Media. Is public radio for the farming world online on demand at willag.org willag.0rg anytime you'd like to listen. Todd Gleason services are made available to WILL by University of Illinois Extension. December corn for the day at $4.21 and a half down a half cent.
Todd Gleason:The March at $4.38 and a half, a quarter lower, and the May contract at $4.47 and three quarters down a quarter of a cent. November beans at $10.10 and a half, 3 and a quarter cents lower than January 1029 and three quarters down three and a quarter. March beans at $10.45 and a half down 3 and a half cents. Bean meals, 70¢ lower. The bean oil down 49¢.
Todd Gleason:Wheat futures for the soft red in the December at $5.19 and a half, a quarter lower. The hard red up two and three quarters. It finished at $5.00 8 and a quarter. Live cattle futures at $233.82 and a half cents down 47 and a half cents per 100 pounds. Feeder cattle at $3.53 87 and a half, 60 lower, and lean hogs down 70 at $90.35.
Todd Gleason:Crude oil, $2.45 lower. Finished at $63.27 or the last trade was. Diesel fuel or heating you heating oil down about 7¢ for the day at $2.34 a gallon, and gasoline at a buck 93 and a half down a nickel and 3 tenths of a cent. Here to talk about these numbers is Kurt Kimmel. He's from agmarket.net out of Normal, Illinois.
Todd Gleason:Hi, Kurt. Thanks for being with us. Kind of a quiet day before tomorrow's USDA report, I suppose.
Curt Kimmel:Oh, boy. Yeah. It's just dead quiet. Most of the activity is out in the field, of course, with the dry weather forecast and producers eager to keep pushing the harvest activity. It's it's it's really quiet.
Curt Kimmel:Even market action is relatively quiet. I mean, they've, spun a lot of different news and it's fairly well getting digested into the marketplace, but the big news will be, tomorrow's, quarterly grade stocks report. We'll have to see what it says, and that's just kind of an unpredictable, target to hit. Average trade guess is, on corn is $1.03 $3.07. Average gasoline on beans is three twenty three million bushels.
Curt Kimmel:The significance of this report actually, you go back to a year ago, we're about 400,000,000 bushels less but the price is no better, And on the bean stocks, we're about 20,000,000 bushels less than a year ago and, you know, we're just kind of stuck here at these lower levels. You can debate how to adjust that till you're blue in the face, whether they underestimated last year's crop, whether or not we're seeing crop move to town here that's been in storage for two to three years in the Upper Northwest, also to the delta harvest, maybe a little early, but whatever it is, it is basically, it's basically old news and the key is to look forward here as we gather some more yield results. Then also to see if this, export business continues to be relatively strong. We saw Mexico come into the marketplace here, they picked up another 135,000 tons of US corn. Then, of course, we sold a 110 100,000, corn to somebody we didn't know.
Todd Gleason:Okay. So we have all that happening tomorrow. We have also the expectations for this afternoon's USDA report as crop progress is related. I suppose it might show a pretty good move over the last week as farmers really got rolling in the fields. Then if you might talk about what you're hearing, if anything, from Iowa as it's related to the issues that they had or thought they had with Southern Russ at at the end of the season.
Curt Kimmel:Yeah. The enjoy this afternoon's report. Enjoy tomorrow's report. That's probably the last reports we're gonna have for quite some time here if the government shuts down. Right?
Curt Kimmel:What is
Todd Gleason:it too? That's a
Curt Kimmel:Whether it's good or bad, the the sad part is is people collecting paycheck or collecting some, money. I I feel for you. That that's tough. They should have had this figured out and I go through the process. Anyway, hey, we're looking at a good excellent category, just forget that, that's done and over.
Curt Kimmel:Corn harvest as a nation is expected to be about 19% complete as a nation. They're looking anywhere from 15 to 23. Last week we're eleven, year ago at 21. Soybean harvest 19% complete as a nation, wide range of 12 to 25%, 9% last week and 26%, last year. I think we're a little further along than that.
Curt Kimmel:If not, we're gonna get caught up big time here, this week. It seems like everybody's moving here as long as there's, there's no major breakdowns. As far as yields, continue to be highly variable. There's some expecting yields to be a little softer here as we get into the second part of harvest, but evidently bean yields are surprisingly better than expected. Lot of them are at last year.
Curt Kimmel:I mean, you could go two miles down the road and see a different story according to whether you receive that, moisture or not. But things on beans, in the morning 13%, by the afternoon they're 9%, it's pretty well standard, procedure, clear across the the Midwest. Well, the corn continues see disappointing yields on the, particularly in Iowa or some of areas that were really hit with this rust. It just depends whether fungicide was applied or not. It's it's huge.
Curt Kimmel:If no fungicide was applied, then there's a little bit better situation when one pass was applied or else two passes. And and so the garamis has gathered, you know, quite a bit of information on this, and, so it it will continue to hear reports here as we move forward. But overall, yield as a nation, I think most animals are down to one eighty two, one eighty three. And so there's some ideas this bean yield could be down another bushel yet too, but it's gonna take some while to get that all sorted out, Todd.
Todd Gleason:It'll be interesting to watch as that happens. Anything else before I let you go for the day?
Curt Kimmel:On the hog and pig report, the the numbers came in a little less than expected, so we we have more, demand, coming at us here as we start to, get into the holiday season. Right now, we're kind of in the doldrum zone in demand, we expect, demand to pick up, as we start moving towards year end or overall, feed UC still remains, fairly strong as a known category. But like I said, we can talk some numbers here, but we'll see if we have some more reports here, as we move down the road.
Todd Gleason:Thanks much. Very
Curt Kimmel:good. Take care.
Todd Gleason:That's Kurt Kimmel. He is with agmarket.net, joins us each and every Monday afternoon here on the closing market report. You can always check him out in the podcast. That's up each day. Just search out the closing market report by name in your favorite podcast applications.
Todd Gleason:The closing market report is a production of Illinois Public Media. It's public radio for the farming world online on demand anytime you'd like to listen at willag.org. Our theme music is written, performed, produced in courtesy of Logan County, Illinois farmer Tim Gleason. Do visit that website. There you'll find daily information from us including the opening market report, the closing market report, the nutrient loss reduction strategy podcast, and information from the agricultural economist, the crop scientist, as
Curt Kimmel:well
Todd Gleason:as the animal scientist right here on the Urbana Champaign campus at the U of I. It's all at willag.org, willag.0rg. Up next, we'll hear from weed scientist Aaron Hager. You know, weed control remains a problem in farm fields across the Corn Belt and much of this has to do with the development of resistance to the chemistries now available. Those chemistries have not been updated for a couple of decades, and for a long time there hasn't been anything on the horizon.
Todd Gleason:I asked Aaron if this continues to be the case.
Aaron Hager:Pretty much. We'll we'll see one or one or two new active ingredients coming probably next year, but they'll be new to us. But, actually, these are fairly old active ingredients from Europe. Diflufenacin is one active ingredient that Bear Crop Science will bring into the marketplace. The original concept from the company several years ago was to bring it only as a as a premixed product with one or two different other active ingredients.
Aaron Hager:But apparently, that decision now has been changed, it will be straight diflufinacin. It can be fairly active on the amaranthus complex. But again, by itself, like so many other examples that we've looked at now for close to thirty years, there's very, very few active ingredients, especially in the pre emergence marketplace. That'll take us all the way from planting through the post application timing.
Todd Gleason:Is this a corn or a soybean herbicide?
Aaron Hager:It'll actually be both. I don't know. Not really for sure what the push will be the first year. It'll be kind of a limited launch, I think in '26, but more full scale, I'm sure, launch there on more broad acres and starting about 2027.
Todd Gleason:If you're in a limited if you have the ability and you're a producer in the limited launch area, would you decide to make that choice?
Aaron Hager:It it, you know, quite frankly, it's it's it will be another option for farmers. It's it's not the only option that they have. Several years ago, we we started to take a, I guess, you could call it another look or a fresh look at metribuzin in soybean simply because that is an active ingredient that allows us to exploit one of the very few weaknesses of the resistance complex that we see in in our waterhemp populations here in Illinois. And that is the fact that when we see resistance to the photosystem two inhibitors or the p s two inhibitors, that type of resistance is always, almost always non target site. So in other words, it's it's a metabolic type of resistance.
Aaron Hager:And by that, we mean the target site remains in a sensitive formation, but yet the plant is actively able to metabolize the herbicides before it causes any sort of detrimental effect. So when you have metabolic triazine resistance, that would render things like atrazine and Princep ineffective, but metribuzin being an asymmetrical triazine still remains effective. But many people here, you almost have to have a little bit of gray hair to remember how we used to use metribuzin in soybean here in Illinois back in the seventies and eighties. But what we have found is that it can still be one of the most effective soil residual herbicides that we have now on on multiple resistant populations. But just like every other product, we have to make sure that we get the application right, correct, based on the soil texture for for the individual field that we're gonna be applying it to.
Todd Gleason:Based on soil texture?
Aaron Hager:Soil texture and organic matter. Very important. A lot of a lot of the most recent use and by recent use, we'll say within the last twenty to twenty five years would be about five ounces or five and a third ounces of a 75 DF equivalent product, and that's simply on the dark prairie soils. It's simply not enough. We need to make sure that we've got those application rates where they need to be.
Aaron Hager:The work that we have done primarily in Champaign County would suggest if we're running something like a 75 DF formulated product, we should be looking at about eight to 10 ounces on most of the fields. And we in our work that we actually put this on a population resistant to herbicides from six different classes, Once we hit that 10 ounce rate at six weeks after planting, we were still more than greater than 90% waterhemp control.
Todd Gleason:Is this what you suggest producers do for next season?
Aaron Hager:Again, it it it's another option that we can you know, the more the more tactics that we can bring to bear on these populations, the better off in the long run we're gonna be because, you know, we and we we really haven't changed the story now for almost thirty years, but we cannot chemically solve this problem that we have with waterhemp. It's not gonna work. You know, we we've gone through an era where, you know, when I started here thirty two years ago, some of the ALS inhibitors, things like pursuit and classic and pinnacle, pretty much had the majority of the soybean market. But because resistance evolved primarily in waterhemp, we do not see the extensive use of that chemistry. We had to find something else in soybean that turned into the diphenyl ethers, things like the Flexstars and the Cobras.
Aaron Hager:We have widespread resistance to that. About the time that was happening along came 1996 in the first year of the glyphosate of the Roundup Ready technology. And a lot of people looked at the weed science community and said, we don't need you anymore. Glyphosate of Roundup is gonna be all that we're gonna need. Well, history has shown us again that this species has adapted to that.
Aaron Hager:So we now have you know, I can remember a time almost thirty years ago when our group published a paper that showed two way resistance in a waterhemp population, and and that was just you know, that was that was news at the time. Now we're up to six in one population, and eventually, we'll find seven, and eventually, we'll get to eight.
Todd Gleason:So this fall when producers are in the combines, what do they need to pay attention to?
Aaron Hager:Yeah. We always say that the combine is really the last scouting weed science scouting opportunity for a growing season. So, obviously, you know what your program was, and that's your last real look to see, okay, how effective was it? If we see that we've got clean fields, what did we do? Right?
Aaron Hager:Go back, look at the rates, look at the rainfall application, look at the parameters that you had on your post application. If it worked that well, I wouldn't recommend changing a whole awful lot if you have if you don't have any surviving weeds. If you have surviving weeds, that's a different ballgame. Why did they survive? Are we talking about the continued evolution of resistance?
Aaron Hager:Are you talking about something like waterhemp, maybe even giant ragweed in Northern Illinois that simply emerged after that herbicide had dissipated from the soil? What sort of adjustment do you need to do? Because ultimately and and we've we've tried to convince this message now for years. You know, the way that you actually win, so to speak, against, you know, an amaranthus population resistant to herbicides from six or seven different classes is not just open up a new jug. It's not gonna work indefinitely.
Aaron Hager:The weakness, of course, is the fact the seeds do not remain viable indefinitely in the seed bank. So doing whatever it is that you can do to try to limit seed production, if you can do that for three or four consecutive years, it's not uncommon to see the waterhemp populations in a field dramatically decline very, very quickly. That's how you stay in front of it. That's how you get back in front of it.
Todd Gleason:Anything we didn't talk about that you think people should know about?
Aaron Hager:No. I mean, there there's always an opportunity, I think, in the fall of the year after you do that scouting operation. If you see things like a lot of winter annual species emerging, if you've got the time to do that, you know, perhaps something like a fall application would be something that could be fairly beneficial for you because generally speaking, the winter annuals are always gonna be more sensitive in the fall of the year than they are the following spring after they've overwintered and resumed growth.
Todd Gleason:Aaron Hager is a weed scientist based on the Urbana Champaign campus of the University of Illinois. Spoke with him during the Farm Progress Show about weed science, particularly as it's related to new chemistries that might be introduced and that farmers could have in their fields sooner rather than later. Let's check the weather forecast for harvest across the Midwest. Just a reminder that if you're out and about on the back roads, even the two lane highways, be careful because the equipment is moving, it's big and it's slow and particularly if you're coming up from the backside of it, you might not realize how fast you're going by comparison to it. It's pretty easy to run into the rear end.
Todd Gleason:They watch for you, but they can't always see you, particularly if they're making a left hand turn. You have to be careful coming up on them. So be very careful out there, and thank you for paying attention. I know the farmers are paying attention too. It's just one of those things that is difficult at this time of the year.
Todd Gleason:Now let's do check the weather forecast because I know they're gonna be moving, and it appears to me, Mark Russo, that the weather is going to be really great for harvest, meaning that there's not a lot of rain, I don't think, in the forecast. Can you tell me about it?
Mark Russo:Yeah. Absolutely, Todd. Yeah. Certainly, this totally open weather that we've seen since late last week and anomalously warm temperatures, that's going to continue to be the theme of the pattern, not only this week, but even in next week as well. Now this week is still, like, bone dry across much of the Corn Belt.
Mark Russo:Next week does offer a little bit of increase in rain activity, but it doesn't look heavy or widespread or enough to really bog things down anywhere. And, of course, that's all happening after this, again, totally wide open weather here that will be in place for at least the next week.
Todd Gleason:Okay. And then once we get into the month of October, do things change at all, or do we stay status quo?
Mark Russo:Stay status quo as it appears right now. Even into the back half of October, looking some of the preliminary signals point towards a continuation of warmer than normal conditions, generally drier conditions. And the only thing that could change that is if there's a tropical system that moves into the Gulf Of Mexico and then potentially up the Mississippi River. There's nothing like that over the next couple of weeks, but that's something to watch down the road potentially that could change things.
Todd Gleason:Inevitably, if we stay warm and we stay dry, there will be, hey. Wait a second. It looks like it could be a drought in 2026. Talk start to bubble up. I know better just because of the change of seasons, particularly in the spring, can make such a difference.
Todd Gleason:Can you talk about that for me, please?
Mark Russo:Yeah. Well, certainly, it is gonna be something to watch here. And if there is any chatter, some of that could be attributed to the La Nina event across the Equatorial Pacific. And, you know, with the current dryness and La Ninas do tend to produce generally below normal rainfall at times, then that could lead to, some low going into next growing season. But, obviously, a long ways off and, you know, winter patterns, even during La Nina, could still feature an abundance of snow and moisture across portions of the Midwest.
Mark Russo:So that's definitely gonna be something to to to monitor as we go through the next, well, numerous months.
Todd Gleason:Now La Nina, of course, would have much much larger effect, particularly in Argentina possibly during their growing season. Can you tell me what you see in South America at this time?
Mark Russo:Yeah. In terms of any kind of dryness and heat risks with La Nina for Argentina or for that matter, Southern Brazil, That risk is heightened as you get deeper deeper into the growing season, you know, December, especially December, January, and February. That's not something, again, to watch down the road. But in the short term, this early planting period for summer crops in Argentina is really good. Their soil moisture is adequate to abundant.
Mark Russo:They're generally drier biased over the next two weeks with warmer than normal temperatures. It's a favorable pattern here at this early stage of planting.
Todd Gleason:Hey. Thanks much. I appreciate it.
Mark Russo:You're welcome, Todd.
Todd Gleason:That's Mark Russo. He is with AvarStream Analytics, joined us on this Monday edition of the closing market report from Illinois Public Media. It is public radio for the farming world. Tomorrow at 11AM central time, USDA will release the quarterly grain stocks report. I'll be out of the office actually working in the field tomorrow, so I won't have an update of that report during the closing market report, though we will be here for that program.
Todd Gleason:Well, there will be a program, I will be in the field but not here. Thank you for listening by the way and you can always tune in and find all those reports and other information. I should be able update them on our website at willag.org from the tractor cab again that's willag.0rg. You have a great and a safe afternoon in the field. I'm University of Illinois Extension's Todd Gleeson.