Market Overview and Commodity Trends
The June 17, 2026, broadcast of the Closing Market Report, hosted by Todd Gleason, provides a comprehensive update on agricultural markets, policy news, and global weather conditions. In the commodities segment, Greg Johnson of Total Grain Marketing details a recent market sell-off driven by favorable Midwest weather, expectations of higher planted acreage, and declining oil prices linked to a Middle East memorandum of understanding (MOU). This combination of factors has prompted investment funds to liquidate their long positions in corn and pare back on soybeans. Johnson advises farmers to adjust their pricing expectations, noting that a significant rally would require a major weather event later in the summer or a return of Chinese soybean purchases.
Agricultural Policy and Global Finance
The program also covers recent geopolitical and agricultural news, highlighting President Donald Trump’s cautious public remarks regarding the finalization of the Middle East MOU, despite White House officials confirming its digital signing. Domestically, the broadcast outlines a legislative push in the Senate to permanently lift summertime restrictions on E-15 ethanol and reports on a growing New World screwworm outbreak threatening livestock in Texas. On the financial front, the US Farm Credit System remains stable despite broader economic challenges, presenting a stark contrast to Brazil, where lower grain prices and high interest rates are driving a surge in farm bankruptcies and loan defaults.
Global Weather Impacts
Meteorologist Drew Lerner from World Weather, Inc. concludes the report with a global agricultural weather outlook. In the United States, unusually cool temperatures and excessive moisture are slowing crop development across the Midwest and Northern Plains, though warmer weather is expected by July. In Europe, a severe heatwave and prolonged dry spell are heavily stressing winter crops, particularly in France. Looking toward Asia, a strengthening El Niño is forecast to bring significant dryness to Indonesia, Malaysia, and the Philippines later in the year, while simultaneously causing excessive, crop-damaging rainfall across the rice and sugarcane regions of southern China.
01:18 Ag Markets with Greg Johnson, Total Grain Marketing
09:12 President Trump Hedges on MOU Signing
15:16 Ag Weather with Drew Lerner, World Weather, Inc.