Latest / AG Bull / AG Squawk AM 9/3/2026 with Jed Sidwell | Market Speed Run for Corn, Beans, and Cattle

Transcript

AG Squawk AM 9/3/2026 with Jed Sidwell | Market Speed Run for Corn, Beans, and Cattle · 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 Thursday morning, we're gonna be talking about soybean oil, Nebraska's prime cattle grading, and what's been happening there, and Trump and Iran, and all of those good things.
• 0:25
  SPEAKER_00: We get to all of that and more here in a bit.
• 0:43
  SPEAKER_00: Live cattle closed at 210.18, down a dollar and ninety cents.
• 0:48
  SPEAKER_00: Feeder cattle were down not quite as bad, and they were, you know, up in the back months, but in the front months, they were down a dollar thirty-eight at three eighteen ninety-eight.
• 0:57
  SPEAKER_00: Lean Hogs closed at eighty-three seventy-eight.
• 1:01
  SPEAKER_00: They were about unchanged like the day before, kind of trading in that range there.
• 1:05
  SPEAKER_00: They were up just thirteen cents.
• 1:08
  SPEAKER_00: Well, as I quote the market here live, I'd like to shout out our sponsor, plus five hundred.
• 1:13
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• 1:19
  SPEAKER_00: And as I look here live, or December corn, the new crop is down a little bit overnight at 529 and a quarter.
• 1:27
  SPEAKER_00: Nove beans are at 1295 and three quarters, and Chicago, December wheat is at 742 and a quarter, all coming down just a little bit overnight.
• 1:39
  SPEAKER_00: On to the weather discussion for today.
• 1:41
  SPEAKER_00: I'm going to keep it brief because I talked a lot about the weather yesterday.
• 1:45
  SPEAKER_00: We are going to see some storms kind of scattered up into the very, very northern parts of the corn belt, mostly Minnesota and North Dakota up there are going to get some rain, which will be good.
• 1:55
  SPEAKER_00: Tommy's been talking about some areas there where his office is at in Mayville has been pretty dry, but they might catch just a few showers.
• 2:02
  SPEAKER_00: The southern corn belt and central southern plains and northern mid-south stays locked in a dry 10 to 15 degrees above normal pattern with no rain relief in sight through at least September 10th.
• 2:15
  SPEAKER_00: So that one's kind of a bummer.
• 2:17
  SPEAKER_00: That tropical tropical storm is pushing out of Texas.
• 2:20
  SPEAKER_00: They got a decent amount of moisture out of that, though.
• 2:23
  SPEAKER_00: On the grain market discussion for today, I popped this one up here because it's soybean oil.
• 2:28
  SPEAKER_00: We talked about that back on Monday because, as you can see, on Monday, soybean oil gapped way higher.
• 2:36
  SPEAKER_00: And since then, it's kind of filled that gap and then some trading back below lower before that.
• 2:43
  SPEAKER_00: As I look at the markets here live, the October contract for soybean oil is at 69.31.
• 2:49
  SPEAKER_00: We were all the way up there at 72 and a half at one point.
• 2:52
  SPEAKER_00: So paying attention to the crush and what goes on there is also affects the price of soybeans.
• 2:58
  SPEAKER_00: We often think about geopolitics and things like that.
• 3:01
  SPEAKER_00: But there are two different contracts that trade on the soybean side.
• 3:04
  SPEAKER_00: Livestock market discussion for today.
• 3:07
  SPEAKER_00: This is the prime grading with regards to or cattle that go prime or percent of cattle that go prime in Nebraska, Texas, Kansas, and the national average.
• 3:17
  SPEAKER_00: And normally when it comes to prime, Kansas is the leader there.
• 3:21
  SPEAKER_00: They don't get quite as hot a summers as Texas and Kansas.
• 3:27
  SPEAKER_00: And they can push cattle to heavier weights because they also have better access to concentrates like corn and things like that.
• 3:34
  SPEAKER_00: And then there's a few more confinement yards up there, is the big thing where it's a little bit easier to get cattle to those big high premiums.
• 3:42
  SPEAKER_00: But recently that green line has dipped down pretty drastically there, all the way down towards the lows below all the rest of the states, which is interesting.
• 3:52
  SPEAKER_00: Maybe it's a data hiccup.
• 3:53
  SPEAKER_00: Maybe we've just fed these cattle for entirely too long, and you know they're starting to get some docs for age and things like that.
• 4:01
  SPEAKER_00: Or maybe we've had the time to have the dip in the market and finally fill our feed yards back up and go out and buy some of these cheaper feeder cattle because of that.
• 4:10
  SPEAKER_00: We've sent some to town earlier to make space for those.
• 4:13
  SPEAKER_00: I don't know.
• 4:13
  SPEAKER_00: It'll be interesting to track this here in the next couple months.
• 4:16
  SPEAKER_00: Maybe it's just a data hiccup, but we'll have to see.
• 4:30
  SPEAKER_00: Obviously, we've had a lot of news here for a while, but Trump's saying it's not going to last very long.
• 4:35
  SPEAKER_00: I'd really like to take his word for it.
• 4:37
  SPEAKER_00: Trump said the renewed hostilities with against Iran will not continue for for very much longer.
• 4:43
  SPEAKER_00: On Thursday, Kuwait's army said it would it was confronting hostile missile attacks and drone attacks from Iran.
• 4:50
  SPEAKER_00: Reuters reporter reported top aids to Trump are pushing to keep Iran's war from escalating before November's midterm elections.
• 4:59
  SPEAKER_00: We'll see what happens here.
• 5:00
  SPEAKER_00: Maybe that hard deadline of the midterms will get Trump to take some sort of action to get this slowed down.
• 5:06
  SPEAKER_00: I don't know what he could do, though.
• 5:08
  SPEAKER_00: There's so many loose variables in this situation to deal with.
• 5:12
  SPEAKER_00: It's gonna hard, uh, it's gonna be hard to tie that up in a bow and send it out the door and get it done because there's a lot of things to tie up there.
• 5:19
  SPEAKER_00: On the economic calendar for today, the non-farm productivity, export sales, jobless claims all come out just a few minutes after I make this public at 7.30 a.m.
• 5:29
  SPEAKER_00: Central.
• 5:30
  SPEAKER_00: The SP Global Services PMI comes out at 8.45 a.m.
• 5:34
  SPEAKER_00: The ISM Service Index comes out at 9, and the natural gas storage change comes out at 9.30.
• 5:40
  SPEAKER_00: Well, this was a speed run of a lot of things today, but I'm glad you guys stuck with me.
• 5:45
  SPEAKER_00: Make sure and watch these wherever it's the most convenient for you.
• 5:49
  SPEAKER_00: If you're going down the road and you're like, I don't want to watch a YouTube video, that's fine.
• 5:52
  SPEAKER_00: Put it on Spotify or Apple Music.
• 5:54
  SPEAKER_00: You're like, well, you know, I'm mostly just a social media person.
• 5:57
  SPEAKER_00: I don't listen to a lot of podcasts or YouTube.
• 6:00
  SPEAKER_00: We're on X, and here's the big one.
• 6:01
  SPEAKER_00: Justin made us this slide.
• 6:03
  SPEAKER_00: We're live streaming these shows every single day on X.
• 6:06
  SPEAKER_00: My show's at 8 15 a.m.
• 6:08
  SPEAKER_00: Davis is at it is at 8 15 p.m.
• 6:11
  SPEAKER_00: So set the reminder on your phone for when those live streams go live and catch them there.
• 6:16
  SPEAKER_00: A lot of things are in play here in these markets right now.
• 6:20
  SPEAKER_00: We had a bit of a correction overnight.
• 6:22
  SPEAKER_00: Make sure and stay informed and talk to a broker.
• 6:26
  SPEAKER_00: If you'd like to call us.
• 6:27
  SPEAKER_00: I'll pop up our phone number here quick on the screen.
• 6:29
  SPEAKER_00: We're full of ideas here at Agbull.
• 6:31
  SPEAKER_00: That's 855-737 Farm.
• 6:34
  SPEAKER_00: If you're listening to this, call us.
• 6:37
  SPEAKER_00: We'd love to hear from you.
• 6:38
  SPEAKER_00: How are you watching this show?
• 6:40
  SPEAKER_00: What would you like from this show?
• 6:42
  SPEAKER_00: What kind of advice or mentorship could we do for you to help out your operation?
• 6:48
  SPEAKER_00: We have ways that we can help.
• 6:50
  SPEAKER_00: Well, I'm Jed Sidwell with AgBull Media.
• 6:52
  SPEAKER_00: Thank you for watching this morning.
• 6:54
  SPEAKER_00: Remember, we're a financial channel that absolutely loves agriculture.
• 6:58
  SPEAKER_00: Have a great day.