Latest / AG Bull / AG Squawk with Tommy Grisafi and Jed Sidwell | Market Whiplash In Grains And Cattle

Transcript

AG Squawk with Tommy Grisafi and Jed Sidwell | Market Whiplash In Grains And Cattle · AG Bull

0:10
SPEAKER_01: Well, hello there.
0:11
SPEAKER_01: Welcome to Ag Squawk in the afternoons.
0:13
SPEAKER_01: Tommy Grassofi, Ag Bull Media, Ag Bull Trading.
0:17
SPEAKER_01: Well, the outside markets are still open and they are moving like crazy.
0:21
SPEAKER_01: We had breaking news happen when we're building the show.
0:25
SPEAKER_01: I do want to tell you, as you see the grains, many folks are going to come out and say grains had a horrible day.
0:31
SPEAKER_01: But did they?
0:32
SPEAKER_01: All that and more on AgSquat.
0:48
SPEAKER_01: Welcome everybody.
0:49
SPEAKER_01: Tommy Grassofi, AgBowl Media, sitting in for the great Davis Michelson.
0:55
SPEAKER_01: I don't know if y'all heard, but Davis had an accident.
0:58
SPEAKER_01: He was listening on his new Ag Bowl Media speaker and hurt his ears.
1:06
SPEAKER_01: That's right.
1:07
SPEAKER_01: Davis was jamming out.
1:09
SPEAKER_01: He had the speaker too close to his ears.
1:10
SPEAKER_01: He's like, I can't hear.
1:12
SPEAKER_01: Nah, Davis be back tomorrow.
1:14
SPEAKER_01: Everybody needs a day off now and then.
1:16
SPEAKER_01: But I wish I I wish I took a day off sometimes because corn volatility, bean volatility, and wheat were all hot topics.
1:26
SPEAKER_01: Now, I alluded to as we started the show outside markets are flying around.
1:32
SPEAKER_01: My very my co-partner in crime, Jed Sidwell, as you all know from Axqualk AM, is going to join the show.
1:39
SPEAKER_01: But as we're building the show, Jed said there were some bombings going on.
1:43
SPEAKER_01: I want to give you a rundown of how the markets closed, and we'll start with corn, then we'll do cattle, and Jed's going to join us after that during cattle, and then we're going to talk about these outside markets.
1:54
SPEAKER_01: Here is the tail of the tape.
1:56
SPEAKER_01: Soybeans down three cents.
1:59
SPEAKER_01: Look at that.
1:59
SPEAKER_01: 1245 and a quarter.
2:01
SPEAKER_01: They were down eight or nine at one point.
2:03
SPEAKER_01: Corn, the hero of the day.
2:05
SPEAKER_01: Can I give corn a shout out?
2:07
SPEAKER_01: Am I allowed to do that?
2:09
SPEAKER_01: Oh yeah.
2:10
SPEAKER_01: Corn up one and a quarter.
2:12
SPEAKER_01: And after corn closes at 115, but the markets stay open till 120.
2:18
SPEAKER_01: Corn was on the high up to 463 and a quarter.
2:21
SPEAKER_01: Not my favorite price, but compared to where it was trading earlier in the day, corn putting on about 11 cents off its lows.
2:30
SPEAKER_01: We wheat had some trouble today.
2:33
SPEAKER_01: A lot of headlines coming out of Russia and Ukraine.
2:37
SPEAKER_01: Talk of a meeting in person, I'll believe it when I see it, with Ukraine, Zelensky, Putin, maybe even the United States.
3:06
SPEAKER_01: Everybody's getting along in the world.
3:08
SPEAKER_01: But just as we're getting ready to record this show, there's trouble over in Ukraine, and we'll get to that in a little bit.
3:15
SPEAKER_01: Let's bring him on, Jed Sidwell, to talk about the tail of the tape with cattle.
3:20
SPEAKER_01: Mr.
3:21
SPEAKER_01: Jed, how are you doing?
3:22
SPEAKER_01: Ooh, side angle view.
3:24
SPEAKER_01: Fancy.
3:25
SPEAKER_00: Nice.
3:26
SPEAKER_00: That's the new side angle view I got over here.
3:28
SPEAKER_01: It's very slimming on you.
3:30
SPEAKER_00: Yeah, it makes it look about 70 pounds lighter, but it has been a nice addition to the morning show, I will say that much.
3:38
SPEAKER_01: Yeah, it it's it's good.
3:39
SPEAKER_01: And thank you, everyone, who's joined Xquac AM and Xquak in the afternoons.
3:44
SPEAKER_01: It is free.
3:45
SPEAKER_01: Not everything we do here is free, but sometimes free is too expensive.
3:50
SPEAKER_01: We'll give you your money's worth today, though, for sure.
3:52
SPEAKER_01: All right, Jed, cattle have been on a doozy of a run.
3:56
SPEAKER_01: They didn't stop today.
3:58
SPEAKER_01: I will say this when corn rallied 10 cents off the low, I said, How are feeder cattle gonna stay up$5 with this?
4:06
SPEAKER_01: They sold off.
4:07
SPEAKER_01: I don't know if that's why.
4:08
SPEAKER_01: Uh, what'd you see in the cattle market?
4:09
SPEAKER_01: And then you have some color on a new CME index.
4:13
SPEAKER_01: By the way, as I walked in to record this episode, the chairman of the CME group, Kevin Duffy, said CME group had record earnings, they just want people trading.
4:24
SPEAKER_01: There's a buyer, a seller, they're in the middle, they're doing sports betting, they're doing puts, calls, strikes, one-day options, two-day options.
4:32
SPEAKER_01: You pick it.
4:33
SPEAKER_01: Literally.
4:35
SPEAKER_01: Where I grew up, the Chicago Board of Trade and the CME, in some ways, folks, it's become a casino.
4:40
SPEAKER_01: But you can still lay off risk.
4:42
SPEAKER_01: They're just the time frames and the amount of hours it's open and the products they're offering are incredible.
4:48
SPEAKER_01: Tell us a little bit about this new cash cattle uh contract or what it is, if it'll even work, Jed.
4:54
SPEAKER_00: And I don't fully understand it completely.
4:57
SPEAKER_00: And that's that's kind of the story of this all.
4:59
SPEAKER_00: It no one really knows what's going on.
5:01
SPEAKER_00: Mike Sands put this morning in our group chat that as of October 26th, coming up on the horizon here, AMS will use data already collected through the LMR system to create additional cash cattle, regional reporting aggregate, regional report aggregating data from Colorado, Texas, New Mexico, Oklahoma, and Kansas.
5:22
SPEAKER_00: If you know anything about the cattle index right now, we only have reporting from three states.
5:27
SPEAKER_00: Now, there's not a lot of states that do feed cattle, but three isn't enough to tell the whole story.
5:32
SPEAKER_00: Colorado's been my home state.
5:34
SPEAKER_00: We've been confidential forever.
5:36
SPEAKER_00: And so you don't really know what's going on with the price of fat cattle in those areas.
5:41
SPEAKER_00: Now, sale barn reports are handy on the feeder cattle side, but on the fat cattle side, knowing what cash is doing is very, very hard to track.
5:49
SPEAKER_00: I met with a group of community college ag teachers last week, Tommy.
5:54
SPEAKER_01: Yeah, I thought you were speaking to the kids and you were speaking to the adults.
5:57
SPEAKER_01: I can't believe they let you do that.
5:59
SPEAKER_01: What what what'd you talk about?
6:01
SPEAKER_00: Well, I I talked about you know how futures and options for one should be in every classroom, and then how just an understanding of production systems and things like that, and how the cash flows through different agricultural products and how margin changes between each stage and how that should be maybe understood at a better level, because kids might know the one section of the production system that they grew up in, but maybe not the whole thing.
6:25
SPEAKER_00: But at the end, I had a teacher ask me, Well, how do you track basis on the cattle side?
6:30
SPEAKER_00: And I said, Well, that's a really, really good question.
6:33
SPEAKER_00: It's very hard to right now.
6:35
SPEAKER_00: If we can get some more light shit on that subject, man, it'll be a much easier thing to try and track right now because basis is very hard to know.
6:44
SPEAKER_01: Yeah, let's do a little shout out for anyone out there.
6:47
SPEAKER_01: If you how do you keep track of cash cattle?
6:49
SPEAKER_01: We have a lot of cash cattle people here, but hit us up on the website, I'll pull that up.
6:55
SPEAKER_01: I'm looking through my bifocals.
6:57
SPEAKER_01: By the way, did you see I got new glasses, Chad?
6:59
SPEAKER_01: Yeah, yeah, they look sharp.
7:01
SPEAKER_01: Oh, I even got you know when you get old, you know what you get when you're really fancy?
7:06
SPEAKER_01: Cataracts.
7:07
SPEAKER_01: Well, that that that's the next level.
7:09
SPEAKER_01: But thank you, Ched.
7:10
SPEAKER_01: Thank you.
7:11
SPEAKER_01: You get prescription sunglasses with bifocals in them.
7:16
SPEAKER_01: That is what I am most excited about.
7:18
SPEAKER_01: If you don't have them, we're not giving them away on the show.
7:22
SPEAKER_01: But yes, prescription sunglasses with bifocals.
7:25
SPEAKER_01: I can now text and drive and see what I'm looking at.
7:28
SPEAKER_01: But folks, get a hold of us at AGBull.com.
7:32
SPEAKER_01: How the heck do you keep track of cash cattle?
7:36
SPEAKER_01: That is a million billion dollar question.
7:39
SPEAKER_01: Judd is it safe to say that the cattle market is a club, brother?
7:43
SPEAKER_00: It is a little bit.
7:44
SPEAKER_00: I mean, it's because we're the the we're like the marines, the few, the proud.
7:48
SPEAKER_00: There's not as many of us as there once were.
7:52
SPEAKER_00: I mean, we see so much consolidation go on in the cattle feeding space.
7:56
SPEAKER_00: Now, the past five years have been incredibly good to the cow calf man, and I'll probably get some arguments about that here and there.
8:03
SPEAKER_00: I hope we do across the country.
8:05
SPEAKER_00: Yeah, I mean, these prices have been pretty good over the past five years compared to where we were sitting in the previous five.
8:12
SPEAKER_00: But it is hard right now to just kind of get a feel of what the country is doing as a whole.
8:18
SPEAKER_01: Yeah.
8:18
SPEAKER_01: Let's look at uh did we pull up the cattle board yet?
8:20
SPEAKER_00: Let's give it a go.
8:23
SPEAKER_01: All right, talk about it, my friend.
8:24
SPEAKER_01: You looked at live.
8:26
SPEAKER_00: Live cattle were up a buck and 95 cents at 231 and 13 cents.
8:30
SPEAKER_00: Feeder cattle up even more.
8:33
SPEAKER_00: They made a bit more of a rally there towards the close.
8:36
SPEAKER_00: They were up two dollars and fifty-three cents at 348.83.
8:40
SPEAKER_00: Lean hogs, I need to make that red.
8:43
SPEAKER_00: That should not be green there.
8:44
SPEAKER_00: They had a big down day.
8:46
SPEAKER_00: They were down a dollar and 40 cents at 65.73.
8:51
SPEAKER_01: Want to give yourself a shout out for making that hogs green?
8:54
SPEAKER_01: Hey, give shout out for Jed being too optimistic, quoting up the hog board here on a rush.
9:02
SPEAKER_01: It is not up, it was down.
9:04
SPEAKER_01: That is some pain in the hog sector, but thanks for uh correcting yourself.
9:08
SPEAKER_01: Happens to the best of us.
9:11
SPEAKER_01: Matter of fact, when I saw that hog quote, I was like, wow, hogs had a good day.
9:14
SPEAKER_01: And you're like, oh my god, I forgot to turn the colors red.
9:17
SPEAKER_01: And red has been the color of hogs, and that is not a good look.
9:22
SPEAKER_01: On the plus side, though, they do have cheaper corn.
9:25
SPEAKER_01: Hog producers, you got to take a look at these corn levels here.
9:28
SPEAKER_01: If you need to buy hog, if you need to buy corn, you don't produce enough yourself.
9:32
SPEAKER_01: They do have the challenging headwinds of high soybean meal prices doing due to all what happened during harvest with that delayed harvest.
9:42
SPEAKER_01: It looks like Jed that's fixing itself.
9:44
SPEAKER_01: Did you?
9:44
SPEAKER_01: I don't know how much you watch soybean meal.
9:46
SPEAKER_01: Did you see soybean meal was down a lot today and then shot up to update it?
9:51
SPEAKER_01: Yeah.
9:51
SPEAKER_00: It's normally once around like 10 o'clock.
9:54
SPEAKER_00: Like I check and I look over to 10 Central and try and see where it's at.
9:58
SPEAKER_00: And you know, when I checked on it today, it's like, oh boy, we have seen some action.
10:03
SPEAKER_00: And you know, I I'm not the best about following meal and oil, but we do have some people here at Nesvik that are very good at tracking it.
10:11
SPEAKER_00: And from what they say, the crush might do some interesting things in the next few reports that we have, Tommy.
10:16
SPEAKER_01: Yeah.
10:16
SPEAKER_01: What do we have next on the docket for today's show, Mr.
10:19
SPEAKER_01: Jed?
10:19
SPEAKER_00: Oh, we have this dandy of a slide, which we forgot to bring up.
10:24
SPEAKER_00: Our sponsor, plus 500.
10:25
SPEAKER_00: We use plus 500 T4 trading software every day.
10:29
SPEAKER_00: But the next one is Brazilian weather, and you just got done on the cow guy, Tommy, talking about this for a while.
10:37
SPEAKER_00: That I mean, we're in pumpkin spice season here, and oh, we lost your mic, Tommy.
10:44
SPEAKER_01: Lost my mic.
10:45
SPEAKER_01: Sorry, I muted it.
10:46
SPEAKER_01: I had to sneeze.
10:47
SPEAKER_01: Thank you.
10:47
SPEAKER_01: Hey, I just talked for two, three minutes.
10:49
SPEAKER_01: No one got to hear anything.
10:51
SPEAKER_01: That was the best part of the show.
10:52
SPEAKER_01: I have a little cold here.
10:53
SPEAKER_01: I'm fighting too, but it is it's pumpkin spice season, and you know what you have because you saw I had a cold.
10:59
SPEAKER_01: What'd you pull up?
11:00
SPEAKER_01: Are you being sarcastic here?
11:02
SPEAKER_01: No, is that real?
11:04
SPEAKER_00: Yeah, it is real.
11:05
SPEAKER_00: You can buy Dumpkin Spice Dude Wipes uh available at your local read retailers so you can have that squeaky clean fall fresh scent.
11:14
SPEAKER_00: Tommy's a proud sponsor of Dude Wipes himself.
11:17
SPEAKER_00: They don't sponsor sponsor us, he sponsors them.
11:20
SPEAKER_00: But guys gotta do what a guy's gonna do.
11:23
SPEAKER_01: But folks, if you're out there and you are in the combine or the tractor, you gotta have those dude wipes and dude wipe should sponsor the show because we're a big user.
11:30
SPEAKER_01: I tell you what, there used to be, I think it was a FedEx commercial where they would yell out, he just shipped his pants.
11:38
SPEAKER_01: And I tell you what, when corn, beans, and wheat were going down today, I about shipped my pants because I could have used a dude wipe, but that's not how the day ended up.
11:48
SPEAKER_01: Strong finish on corn.
11:50
SPEAKER_01: Might have some people, maybe not this guy, but definitely take off your farmer cap, put on your end user hat and say, wow, 450-ish futures, lower market in the cash market, a lot of corn in uh in the northern plains with the three in it now.
12:09
SPEAKER_01: If you're an end user or a foreign country, if you're listening, China, corn was on sale.
12:15
SPEAKER_01: But sometimes when things are on sale, they can stay on for sale longer than you think.
12:21
SPEAKER_01: But uh definitely someone thought corn was of a value.
12:24
SPEAKER_01: Now, let's get to the breaking news because I very much think it could affect wheat tonight.
12:30
SPEAKER_01: When you and I were preparing for the show, you had a headline, and if we could talk about that, I'll quote up what crude oil's done, and it'll tie in to what Russia and Ukraine were saying just this morning.
12:42
SPEAKER_01: Go ahead, Jed.
12:43
SPEAKER_00: Yeah, this was the big headline that caught everyone's attention or caught everyone in the oil's attention while Tommy and I were trying to make our slides and affected the stock market quite a bit.
12:53
SPEAKER_00: And it's nothing new headline-wise, but it certainly is still having its effect.
12:59
SPEAKER_00: Ukraine's drone strikes on Russia have essentially crippled the second largest diesel supplier.
13:06
SPEAKER_00: They've grown to such a scale and reach and effectiveness that that diesel exporter just can't handle it.
13:12
SPEAKER_00: The Ukrainians are regularly launching swarms of drones that number in the hundreds.
13:17
SPEAKER_00: They're also striking refineries much deeper into Russian territory.
13:21
SPEAKER_00: Kiev learned that to target the complex refinery equipment that is harder to repair.
13:27
SPEAKER_00: Diesel prices have surged due to the wars in Eastern Europe and the Middle East.
13:31
SPEAKER_00: No new trend news there, but certainly just more strikes.
13:36
SPEAKER_00: And it shows in this market every single time that it does, Tommy.
13:39
SPEAKER_00: It's evident that, you know, any sort of conflict that we have there will show up in our markets.
13:48
SPEAKER_01: I'm back.
13:49
SPEAKER_01: And what that did, folks, just for you home gamers who are watching, uh, we have quotes, obviously, plus 500.
13:55
SPEAKER_01: There's three Jets.
13:57
SPEAKER_01: I mean, how many jets can there be on this thing?
14:00
SPEAKER_01: The SP 500 was up uh 55, NASDAQ was up 400, and then all of a sudden the SP was up 25, and then NASDAQ was up 250.
14:08
SPEAKER_01: It did shoot crude oil from let me tell you what the low today was in December crude oil.
14:13
SPEAKER_01: December 26 crude oil traded down to 96.37, traded all the way up to 98 half.
14:20
SPEAKER_01: Big move in crude oil just on that little blip.
14:23
SPEAKER_01: Oh, let's see, it moved about$1.50 in 20 minutes.
14:27
SPEAKER_01: So this morning we have wheat selling off because Russia and Ukraine are getting along better, and then all of a sudden this happens.
14:34
SPEAKER_01: I don't know if I'd be the first one to go sell wheat tonight.
14:37
SPEAKER_01: I tell you what, the market might have taken off too much too fast.
14:40
SPEAKER_01: If you're all thinking peace in the world, kumbaya, everything's still happening in Iran.
14:45
SPEAKER_01: We have midterms coming around the corner.
14:48
SPEAKER_01: Jud, if I didn't know better, the whole world is waiting for midterms.
14:52
SPEAKER_01: And if if if the Republicans lose a lot of votes here, that's gonna change what powers or authority maybe President Trump has.
15:01
SPEAKER_01: Now, there's some things he can do and there's some things he can't, but you know all the rhetoric that's gonna come through.
15:07
SPEAKER_01: And by the way, tomorrow, Mr.
15:09
SPEAKER_01: Jim Wiesmeyer and myself and David Washerman of the Cook Report are gonna do a special, special show.
15:18
SPEAKER_01: And this is someone Mr.
15:20
SPEAKER_01: Washerman gets paid a lot of money to go around telling his opinions of what they think the market's gonna do, or not the market, but who's gonna get elected.
15:29
SPEAKER_01: So think is if you're looking at poly market, this one's favored, that one's favored.
15:34
SPEAKER_01: This is what they do.
15:35
SPEAKER_01: The Cook Political Report, Mr.
15:37
SPEAKER_01: David Washman.
15:38
SPEAKER_01: I believe he was he was a Chicago guy or is a Chicago guy.
15:41
SPEAKER_01: I'm looking real forward to jumping on with them.
15:43
SPEAKER_01: And of course, we'll send that out to premium subscribers.
15:47
SPEAKER_01: And a lot of things changing on the premium side.
15:49
SPEAKER_01: I think some people are starting to notice that Jim has his own service starting.
15:53
SPEAKER_01: There may have been some confusion in that.
15:56
SPEAKER_01: Jim's been posting his content on Agble.com for free the last year, and I think he realized that he's putting out good stuff.
16:05
SPEAKER_01: He's getting up at four or five in the morning and he's working late.
16:08
SPEAKER_01: I said, Jim, free's too expensive.
16:10
SPEAKER_01: Don't do that.
16:11
SPEAKER_01: You know, you deserve better, and uh people deserve better.
16:14
SPEAKER_01: And so that content I think people notice as they go to the website that's act up.
16:19
SPEAKER_01: If you're currently a subscriber to AGBL, give us a call, text, email, we'll get you set up on that and show you how that's going to work for you all.
16:25
SPEAKER_01: But Jim was giving something away for free, and that is no longer available.
16:30
SPEAKER_01: The Weissmeyer video will continue to go out to Agble subscribers and subscribers of Weissmeyer's Premium Service.
16:38
SPEAKER_01: So whether you like the markets, you'll get Weissmeyer's video.
16:41
SPEAKER_01: Whether you like DC policy and everything going on, you'll get Weismeyer's video.
16:45
SPEAKER_01: But in this world of media, I've always wondered, Jed, how do people go on all these shows and tell everyone their ideas and not charge?
16:53
SPEAKER_01: And that's changing.
16:54
SPEAKER_00: Yeah.
16:54
SPEAKER_01: You'll still see Jim on Fridays here with Davis.
16:57
SPEAKER_01: You'll still be able to hear Jim on AgraTalk on Fridays with uh Chip Flory.
17:02
SPEAKER_01: But I think the man deserves a piece.
17:05
SPEAKER_00: You know what it reminds me of, Tommy?
17:06
SPEAKER_00: What's it?
17:07
SPEAKER_00: It reminds me of, you know, 10 years ago we were saying, how can they get away not paying these college athletes?
17:13
SPEAKER_00: How can how can we go away?
17:15
SPEAKER_00: Yeah, and now we pay them.
17:17
SPEAKER_01: Yeah, so look at Jim as a the the small fee, very small fee.
17:22
SPEAKER_01: He's charging$199 a year here for the first year is it's literally pennies a day.
17:28
SPEAKER_01: We're in the 50 cent a day column.
17:30
SPEAKER_01: If you think Jim's worth 50 cents a day, give him a shot.
17:33
SPEAKER_01: Might be 60 cents a day now that I think about the math.
17:35
SPEAKER_01: But with that, you're gonna spill more diesel, or diesel's just moved more than that on you in the afternoon.
17:42
SPEAKER_01: What else do we have to take us home, Mr.
17:44
SPEAKER_01: Jed Sidwell?
17:45
SPEAKER_00: You know, Davis always talks about today or this day, you know, throughout history.
17:51
SPEAKER_00: Yeah.
17:51
SPEAKER_00: This day throughout history, or maybe a few days ago, a year ago, Tommy, we did our first video podcast together.
17:58
SPEAKER_00: I sent you that the other day that you and I hopped on when I was still in college a year ago.
18:03
SPEAKER_01: You have a picture of that?
18:03
SPEAKER_01: Why don't you go full screen?
18:05
SPEAKER_00: Let me go see, yeah.
18:06
SPEAKER_01: I'll let you for a little bit.
18:07
SPEAKER_01: All right.
18:08
SPEAKER_01: So for those of you who don't know, Mr.
18:10
SPEAKER_01: Jed Sidwell was an intern here at Nesvik Group.
18:14
SPEAKER_01: Brave young man came in, a friend of a friend called Mr.
18:17
SPEAKER_01: Brian Leith or someone here, and Jed moved to Tennessee, had a friend who let him stay at a house.
18:24
SPEAKER_01: They weren't there that summer.
18:25
SPEAKER_01: And here comes young Jed Sidwell here on his first day as an intern.
18:29
SPEAKER_01: Well, we started off with a bang because on Jed's first day as an intern, we took him to the ACDC concert in Nashville.
18:35
SPEAKER_01: And boy, do we have stories we could tell you about that.
18:39
SPEAKER_01: But I don't think we could say them on the show.
18:41
SPEAKER_01: But nothing bad happened, nothing too bad.
18:44
SPEAKER_01: But that was his introduction to Nashville.
18:46
SPEAKER_01: And when Jed graduated college, I said, you know, Jed, if you don't go out there and find the job you want, you know, give us a call.
18:52
SPEAKER_01: And while he was here in Nashville, he studied for his series three.
18:56
SPEAKER_01: For those of you who don't know, a series three is a license you need as a commodity broker.
19:00
SPEAKER_01: I said, if you're a smart kid, take the test.
19:02
SPEAKER_01: He took it, but had no home for it.
19:04
SPEAKER_01: So lo and behold, a year ago we recorded a podcast.
19:08
SPEAKER_01: He was at school, and I was I think I was in Nashville at home.
19:11
SPEAKER_01: I don't remember that day.
19:12
SPEAKER_01: But we he did a good show, and now it's funny to see how far he's come along.
19:17
SPEAKER_01: And and that if it's if it's Jed or someone else, I was telling a coworker today, media has changed.
19:26
SPEAKER_01: Long gone are the days of having to beg someone from a network to let you on their show.
19:32
SPEAKER_01: We are allowed on our show every day, and we're bringing it to you.
19:36
SPEAKER_01: I think you have that pop-up.
19:38
SPEAKER_00: Yeah.
19:38
SPEAKER_00: Oh, and I got this here.
19:40
SPEAKER_00: I found it back in my youth a year ago, doing my first podcast with Tommy from the Oklahoma State orange and black there.
19:48
SPEAKER_00: So yeah, yeah.
19:50
SPEAKER_01: How's Oklahoma doing in football?
19:53
SPEAKER_00: We were doing a lot better before this weekend.
19:55
SPEAKER_00: I'll say that much.
19:56
SPEAKER_01: Sounds like someone hit their ass kicked.
19:58
SPEAKER_00: Yeah, we got beat by Houston, but we did upset Oregon.
20:01
SPEAKER_00: Wait, there's more.
20:02
SPEAKER_00: But wait, yeah, we went from being the worst team in college football to being ranked, so I'll take it.
20:07
SPEAKER_00: All right.
20:08
SPEAKER_01: Well, for a recap here, I just want to take it home.
20:11
SPEAKER_01: We had harvest pressure.
20:12
SPEAKER_01: We have the funds hitting the exit door.
20:16
SPEAKER_01: We have alleged peace in Ukraine and Russia, but looking at this afternoon's crude oil prices, I would take a no-go on that possible fake news headline.
20:27
SPEAKER_01: Natural gas, just looking at my phone before we went on.
20:31
SPEAKER_01: Natural gas down six percent.
20:32
SPEAKER_01: Folks, if you're out there and you need to buy propane or fuel or energy, might want to give that one a look.
20:37
SPEAKER_01: Uh, natural gas on sale here.
20:39
SPEAKER_01: Not that you actually go out and buy natural gas, but I just want to let you know not all things are exploding higher.
20:45
SPEAKER_01: We did have that positive news from the Trump administration on diesel, but I tell you, they give it to you in one hand and they take it to you from the other.
20:52
SPEAKER_01: They give you$8 billion in fuel relief.
20:54
SPEAKER_01: Yet they take$4 billion from you in the market.
20:57
SPEAKER_01: Anytime, and I said this on the cow guy.
20:59
SPEAKER_01: Anytime someone from the United States government says, hi, we're here to help, that is not good for free markets.
21:06
SPEAKER_01: Now, speaking of free markets, we did say CME group record earnings.
21:10
SPEAKER_01: What's that mean to you?
21:12
SPEAKER_01: Means a lot of people are trading a lot of stuff, and that creates a lot of volatility.
21:16
SPEAKER_01: Anything else you'd like to discuss today, young man?
21:18
SPEAKER_00: Oh, I don't have a whole lot.
21:20
SPEAKER_00: Make sure and catch the morning shows when those come out.
21:23
SPEAKER_00: I'll probably talk to you bright and early then.
21:25
SPEAKER_00: We have a lot of things on the premium side.
21:27
SPEAKER_00: I did a week video with Mike Sands yesterday that I thought, you know, covered what's going on with the managed money in the cattle space, probably better than we've ever talked about.
21:38
SPEAKER_00: It's at the end of that show.
21:39
SPEAKER_00: If you just want to skim that part, I encourage you.
21:42
SPEAKER_00: If you are a subscriber, you have access to that at AgBull.com.
21:45
SPEAKER_01: Yeah.
21:46
SPEAKER_01: Thanks, Chad.
21:47
SPEAKER_01: We'll get that texted right out here.
21:48
SPEAKER_01: The second I get done with this, you're going to bundle it up.
21:51
SPEAKER_01: We'll get that Mike Sands.
21:52
SPEAKER_01: It's called Fat Tuesday, oftentimes recorded on a Wednesday.
21:57
SPEAKER_01: But Mike Sands, I tell you, new client called yesterday, cattle producer out of South Dakota, and they said, What do you guys do?
22:05
SPEAKER_01: And I said, We are partnering with the old guy group that has experience with, and I don't mean old guy is disrespectful.
22:14
SPEAKER_01: I mean old guy is someone who's seen it all.
22:17
SPEAKER_01: And Mike Sands, when it comes to cattle, he has a lot of experience.
22:21
SPEAKER_01: Jim Wiesmeyer, when you're talking about it.
22:22
SPEAKER_00: He's forgotten more than I know.
22:23
SPEAKER_00: I can say that much.
22:24
SPEAKER_01: 100%.
22:25
SPEAKER_01: And every time we do a video, me or you or anyone else, every single time I do a Weissmeyer video, he sends the notes, I prepare them, and then we talk about what we're going to talk about, and then we let him go.
22:37
SPEAKER_01: I'm a better person because I've had to, if you want to get better at tennis, play with someone better than you.
22:43
SPEAKER_01: You want to get better at golf, well, take some lessons, do something.
22:46
SPEAKER_01: But if you want to understand markets and politics and cattle and cash bids and basis and freight and oil and energy, go learn from someone.
22:56
SPEAKER_01: And maybe by taking the leap to uh premium jet, we just ordered another hundred full screen on me, another hundred Ag Bull speakers.
23:06
SPEAKER_01: These things are the real deal.
23:08
SPEAKER_01: I spent twenty-five dollars on these and I spend fifteen dollars on shipping to make sure they get there.
23:15
SPEAKER_01: So if you subscribe for one year, 250 annually, we're gonna send you some of that money back.
23:20
SPEAKER_01: The annual subscription gets you free two months in a speaker, and I think you'll get your money's worth.
23:26
SPEAKER_01: All right, with that last call.
23:29
SPEAKER_01: Anything we want to talk about, or should we roll the tape?
23:32
SPEAKER_01: How do people catch a show if they ever miss us, Jet?
23:34
SPEAKER_00: Oh, they can find it anywhere.
23:36
SPEAKER_00: We have this great graphic to pop up here.
23:39
SPEAKER_00: We're on Spotify, we're on YouTube, we're on Apple Podcasts, we live stream this show every single day at 8 15 p.m.
23:47
SPEAKER_00: The morning shows at 8 15 a.m.
23:49
SPEAKER_00: on X or Twitter, if you still want to call it that, like most do.
23:53
SPEAKER_00: Call whatever the hell you want.
23:54
SPEAKER_00: This is America.
23:56
SPEAKER_00: Yeah.
23:57
SPEAKER_00: Call whatever the heck you want.
23:58
SPEAKER_00: That one thing that tweets at you every now and then.
24:01
SPEAKER_00: Yeah.
24:01
SPEAKER_01: All right, cue up the close.
24:03
SPEAKER_01: I'll take us home, Jed, full screen on Tommy G.
24:05
SPEAKER_01: Folks, I got a new set of glasses, and I'm seeing things better.
24:10
SPEAKER_01: When it comes to markets, you need to make sure you can see things correctly.
24:15
SPEAKER_01: It's not always easy.
24:16
SPEAKER_01: And yes, I did use the dude wipes today because I got a little nervous myself.
24:20
SPEAKER_01: But when you're nervous, when you're scared, oftentimes when the markets are high and they look like they're never going to go down, that's what a top looks like.
24:28
SPEAKER_01: We had that market this year.
24:30
SPEAKER_01: And when they're giving you, when they got palms out in the pits of Chicago, but the pits don't exist anymore, maybe you should consider taking the other side.
24:39
SPEAKER_01: My name's Tommy Gristaffi, and I am bullish agriculture.