The July 13, 2026, edition of the Closing Market Report covered critical updates in domestic agricultural production, global energy markets, and shifting weather patterns impacting the U.S. corn belt. Curt Kimmel of AgMarket.net analyzed the day’s sharp rise in crude oil and grain futures, tying the market’s upward momentum to localized heat stress in the western corn belt, declining crop condition ratings, and sudden escalations in Middle East war tensions. Expanding on these geopolitical developments, North Dakota State University Extension Economist Frayne Olson discussed the severe impact of a newly announced U.S. military escort fee for transiting the Strait of Hormuz, alongside the logistics disruption caused by Ukrainian drone attacks near the Sea of Azov. Olson noted that while these conflicts introduce a supportive risk premium for U.S. grain exports, their long-term effects will primarily filter through volatile international energy markets. Finally, meteorologist Mark Russo of EverStream Analytics provided a near-term weather outlook, reporting that while threatening pollination heat will temporarily persist in the northwest Midwest, a retrogressing ridge of high pressure will bring cooler temperatures by the weekend. However, Russo warned that an impending shift toward a suppressed, northwest flow jet stream pattern could signal a prolonged dry spell moving into critical pod-development stages for soybeans in early August.
01:11 Ag Markets with Curt Kimmel, AgMarket.net
06:53 Commodity Market Discussion with Frayne Olson, NDSU
18:46 Ag Weather with Mark Russo, EverStream Analytics