Latest / AG Bull / AG Squawk AM 8/26/2026 with Jed Sidwell | Morning Ag Markets In Seven Minutes

Transcript

AG Squawk AM 8/26/2026 with Jed Sidwell | Morning Ag Markets In Seven Minutes · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:12
  SPEAKER_00: Jed Sidwell here live from Joliet, Illinois.
• 0:15
  SPEAKER_00: Today on this fine Wednesday morning, we're gonna talk about the EU and their drought and how that's affected their crop over there.
• 0:22
  SPEAKER_00: I'll give you a brief taste of what Mr.
• 0:24
  SPEAKER_00: Mike Sands and I talked about yesterday on the Fat Tuesday show.
• 0:28
  SPEAKER_00: And there is more drama out of the Strait of Hormuz.
• 0:31
  SPEAKER_00: We'll get to all of that and more here in a bit.
• 0:54
  SPEAKER_00: Feeder cattle were down not quite five bucks at$3.19.28.
• 0:59
  SPEAKER_00: Lean hogs were down 68 cents at$80.45.
• 1:05
  SPEAKER_00: I'll quote the grain market here live with my quotes from T4 from Plus$500.
• 1:10
  SPEAKER_00: Plus$500 is the trading software we use.
• 1:12
  SPEAKER_00: They're sponsors of the show.
• 1:14
  SPEAKER_00: We love using a T4.
• 1:16
  SPEAKER_00: Corn new crop rallied overnight.
• 1:20
  SPEAKER_00: It's at$5.27.5.
• 1:23
  SPEAKER_00: Old crop beans are at 1231 in Chicago.
• 1:27
  SPEAKER_00: September wheat is at 6.98 and a quarter.
• 1:32
  SPEAKER_00: Well, on our weather discussion for today, I figured I'd pop this chart on, and I often don't explain the picture.
• 1:38
  SPEAKER_00: That is our 72-hour day chart brought to us from Mr.
• 1:42
  SPEAKER_00: Craig Solberg.
• 1:43
  SPEAKER_00: He puts it in our morning weather summary every day.
• 1:46
  SPEAKER_00: And we're going to see some slight storms there into Texas, which will be great.
• 1:51
  SPEAKER_00: And some relief up into the Corn Belt.
• 1:54
  SPEAKER_00: A great turn from what we've been seeing.
• 1:57
  SPEAKER_00: There's been recent localized rain in the Texas panhandle, getting two plus inches at Dumas and Amarillo.
• 2:04
  SPEAKER_00: Great to see it down there.
• 2:05
  SPEAKER_00: They have just been getting an absolute scorcher.
• 2:08
  SPEAKER_00: Hopefully, some more rains can kind of get in there into southeast Oklahoma because I know it's just been scorcher there for them as well.
• 2:16
  SPEAKER_00: We saw an overnight rally last night on the grain side of things, which was great to see.
• 2:21
  SPEAKER_00: I mean, a pop across the board earlier before recording this.
• 2:24
  SPEAKER_00: Soybeans even bounced to new highs, coming back down just a little bit now.
• 2:29
  SPEAKER_00: But man, this is a kind of a cool bull market.
• 2:33
  SPEAKER_00: There's opportunities to get in.
• 2:34
  SPEAKER_00: Make sure and call your broker or call us.
• 2:36
  SPEAKER_00: If you're a premium subscriber, you have the opportunity to always call the phone.
• 2:40
  SPEAKER_00: We'd love to hear from you and your marketing needs.
• 2:43
  SPEAKER_00: On to the grain discussion, though.
• 2:46
  SPEAKER_00: The EU, kind of like Texas, has seen just a lot of heat and it's just been relentless over there.
• 2:53
  SPEAKER_00: The EU's crop monitor cut summer yield forecasts for a third straight month.
• 2:59
  SPEAKER_00: The grain maize, which is corn, now sits five down five percent in a month, seven percent below the five-year average.
• 3:11
  SPEAKER_00: Well, it is an international market at the end of the day.
• 3:14
  SPEAKER_00: They are going to have to import more corn from somewhere, and you know, demand drives price.
• 3:23
  SPEAKER_00: Well, this chart, Mr.
• 3:26
  SPEAKER_00: Mike Sands and I talked about yesterday, it's from our cattle on feed report that came out last Friday.
• 3:31
  SPEAKER_00: That red bar on the right, that is a record low placement number.
• 3:36
  SPEAKER_00: And that was kind of the story of that cattle on feed report.
• 3:39
  SPEAKER_00: We're putting less and less cattle on feed right now, and we have this record heavy front-end supply.
• 3:45
  SPEAKER_00: We're feeding cattle for longer.
• 3:47
  SPEAKER_00: We can't find cattle to replace them, so we're just pushing cattle longer, longer.
• 3:52
  SPEAKER_00: And at some point, what Mr.
• 3:53
  SPEAKER_00: Mike and I talked about, the law of diminishing returns will kick in there, and we can't continue to push them to higher weights.
• 4:01
  SPEAKER_00: I highly encourage you to watch the rest of that episode, though.
• 4:05
  SPEAKER_00: I think Tommy made it public on YouTube.
• 4:08
  SPEAKER_00: Well, go ahead and follow that episode.
• 4:12
  SPEAKER_00: We talked about the true social post.
• 4:14
  SPEAKER_00: We talked about the the pack the the pack the Joclin pack packing plant closing.
• 4:19
  SPEAKER_00: We talked about the Mexican border reopening and what we predicted there.
• 4:22
  SPEAKER_00: We broke down the whole entire catalog on feed report as well as talked about a plethora of other things.
• 4:28
  SPEAKER_00: Make sure and follow that show.
• 4:31
  SPEAKER_00: The U.S.
• 4:31
  SPEAKER_00: crude hovers around$80 as oil prices sink on Hormuz deal.
• 4:37
  SPEAKER_00: Hopes was the headline from CNBC this morning.
• 4:41
  SPEAKER_00: A lot of different takes on the price of energies right now.
• 4:45
  SPEAKER_00: U.S.
• 4:45
  SPEAKER_00: sanctions on Iran were less severe than anticipated, was said by Dan Coatsworth, head of AJ Bell.
• 4:53
  SPEAKER_00: Iran and Orman are discussing a joint temporary shipping route in the Strait of Four Moose as a precursor to a permanent arrangement to administer the waterway, kind of cutting U.S.
• 5:05
  SPEAKER_00: the U.S.
• 5:06
  SPEAKER_00: out of the deal.
• 5:07
  SPEAKER_00: Future management of the strait and the permanent solution will follow in due course, says Orman's Oman's excuse me, foreign minister in a social media post.
• 5:19
  SPEAKER_00: We've got to pay attention to energy.
• 5:21
  SPEAKER_00: It drives truly drives all markets.
• 5:25
  SPEAKER_00: It pushes the price of just world commodities around, and the what's happening over there in the Strait of Hormous has a drastic effect on it.
• 5:36
  SPEAKER_00: Well, once again, our economic calendar for today is a long, healthy list.
• 5:41
  SPEAKER_00: The NBA mortgage applications already came out this morning at 6 a.m.
• 5:45
  SPEAKER_00: Here in 15 minutes, as I'm recording now at 7.15 at 7.30 GDP, PCE, personal income spending, durable cap goods all come out at that time, the 7.30 Central, and the EIA energy stocks come out at seven at 9.30 a.m.
• 6:05
  SPEAKER_00: Well, that's all I have for you today.
• 6:07
  SPEAKER_00: Thank you for watching and thank you for listening.
• 6:09
  SPEAKER_00: If you missed last night's Ag Squawk in the Afternoon with Davis Michelson, go back and watch it.
• 6:14
  SPEAKER_00: It was a pretty familiar face.
• 6:16
  SPEAKER_00: Scott the Cow Guy from RFD TV's Cow Guy Clothes was on, a friend of the show and a friend of Tommy's, and it's always great to hear from someone as wise as Scott.
• 6:26
  SPEAKER_00: That was a great episode that he did.
• 6:28
  SPEAKER_00: Well, that's all I have.
• 6:30
  SPEAKER_00: Thank you for watching.
• 6:31
  SPEAKER_00: Thank you for listening.
• 6:31
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media.
• 6:34
  SPEAKER_00: We're a financial channel that loves agriculture.
• 6:36
  SPEAKER_00: Have a great day.