Latest / AG Bull / AG Squawk AM 10/6/2026 with Jed Sidwell | All Eyes on Oil

Transcript

AG Squawk AM 10/6/2026 with Jed Sidwell | All Eyes on Oil · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:12
  SPEAKER_00: Jed Sidwell here, live from Juliet, Illinois.
• 0:16
  SPEAKER_00: Today we're going to be talking about the crop ratings, hogs, and their managed money net position right now, as well as the price of oil is coming down just a little bit.
• 0:27
  SPEAKER_00: We'll get to all of that and more here in a bit.
• 0:46
  SPEAKER_00: Even down a buck and a half.
• 0:47
  SPEAKER_00: Feeder cattle were down a buck at 33013.
• 0:51
  SPEAKER_00: Lean Hog saw a nice little bounce, though, up 83 cents at 70.95.
• 0:56
  SPEAKER_00: As I quote the grain markets here live, like to shadow to our sponsor, plus 500.
• 1:00
  SPEAKER_00: We use plus 500 T4 trading software to quote the markets every single day.
• 1:04
  SPEAKER_00: And as I look, December corn is at$5.02.
• 1:08
  SPEAKER_00: No beans are at$12.90.
• 1:11
  SPEAKER_00: And December, Chicago wheat is at$6.99 and a half.
• 1:15
  SPEAKER_00: Up a little bit overnight.
• 1:17
  SPEAKER_00: All of the grains having a nice little rally as we were sleeping.
• 1:22
  SPEAKER_00: And looking at the weather, I thought this chart kind of played it out pretty nicely there.
• 1:27
  SPEAKER_00: A dry, warm stretch through Sunday gives the Cornbell and Plains an ideal harvest and winter wheat planting window with rain chances best October 12th through the 15th.
• 1:37
  SPEAKER_00: A tropical system in the Bay of Campeche, I think I'm saying that right, 80% development odds kind of is there, is likely to hit the Gulf Coast late Friday into Saturday as a tropical storm or weak hurricane, most likely near Mississippi.
• 1:54
  SPEAKER_00: It'll be interesting to see how these tropical storms play out.
• 1:57
  SPEAKER_00: Obviously, we had polo not too long ago that pushed all those rains up into most of the United States there, and we kind of saw some major weather events, so we'll see how this one plays out here.
• 2:09
  SPEAKER_00: On the grain market side of things, this is the car good to excellent corn by each state and how it changed here recently.
• 2:19
  SPEAKER_00: The good to excellent rating as a country fell from 54 or fell to 54% from 57%.
• 2:28
  SPEAKER_00: The damage sat mostly in the Western corn belt.
• 2:31
  SPEAKER_00: Nebraska fell eight points to 46% and 9 to 53% in the soybeans, and Iowa lost 3% in corn.
• 2:42
  SPEAKER_00: And as you can see, as you blow it up there, my home state of Colorado, we got looking just a little bit better than we were.
• 2:48
  SPEAKER_00: That was always nice to see, as well as some folks there on the east coast into Missouri and Kansas seeing a little bit of a bump as well.
• 2:57
  SPEAKER_00: This caught my eye this morning.
• 2:59
  SPEAKER_00: The Lean Hogs Managed Money position.
• 3:02
  SPEAKER_00: And as we look at that, we have seen a stark contrast to where we were at just a little bit ago to a record net short.
• 3:11
  SPEAKER_00: Managed money are the outside funds trading the markets for all of you playing along at home.
• 3:17
  SPEAKER_00: And they have such a large effect on all of them, but especially the hogs, because the hogs are a bit more vertically integrated than say the cattle industry and a bit more corporately owned at times.
• 3:28
  SPEAKER_00: But as we look here, they're staying short because they don't have a reason not to be right now.
• 3:33
  SPEAKER_00: It's been profitable to be short in the hog market.
• 3:37
  SPEAKER_00: We'll see if we see a turnaround at some point, but it's always important to track the managed money.
• 3:42
  SPEAKER_00: This is the headline this morning.
• 3:44
  SPEAKER_00: Oil prices fall as traders weigh strong Mideast exports against Gulf tensions.
• 3:51
  SPEAKER_00: Oil prices fell this morning as a resilient Mideastern crude exports and a G7 emergency stockpile release eased supply concerns.
• 3:59
  SPEAKER_00: The attacks by Yemen's Houthis on Saudi targets kept traders wary of risks to Gulf supplies.
• 4:06
  SPEAKER_00: A lot of turbulence in the waters in the oil market.
• 4:10
  SPEAKER_00: As I look here right now, crude oil is down quite a bit.
• 4:13
  SPEAKER_00: It's at 8706 currently.
• 4:16
  SPEAKER_00: We were all the way up above 90, even into the hundred uh territory for a while there.
• 4:23
  SPEAKER_00: It has been kind of crazy to see its effect on diesel fuel.
• 4:27
  SPEAKER_00: And I know I don't have to tell you guys that.
• 4:29
  SPEAKER_00: You experience it every single day.
• 4:32
  SPEAKER_00: And what happens in oil affects the entire American economy because America runs on diesel.
• 4:40
  SPEAKER_00: It truly does.
• 4:41
  SPEAKER_00: On the economic calendar for today, the ADP weekly employment change comes out at 7 15 a.m.
• 4:46
  SPEAKER_00: and the Purdue Ag Sentiment at 8 30.
• 4:49
  SPEAKER_00: Those are all central time.
• 4:50
  SPEAKER_00: And that's all I have for you today.
• 4:52
  SPEAKER_00: Thank you for watching and thank you for listening.
• 4:54
  SPEAKER_00: Make sure and catch this pod this show every day on X.
• 4:58
  SPEAKER_00: We stream at 8 15 a.m.
• 5:00
  SPEAKER_00: Davis is Ag Squawk in the afternoon is 8 15 p.m.
• 5:04
  SPEAKER_00: on X or Twitter or whatever you want to call it.
• 5:07
  SPEAKER_00: Well, thank you for tuning in though this morning.
• 5:09
  SPEAKER_00: And if you have any questions that you'd like answered in the show or anything that's on your mind, make sure to leave the comments down below.
• 5:17
  SPEAKER_00: As well as make sure to hop on over to our premium side.
• 5:20
  SPEAKER_00: We have a lot going on there right now.
• 5:22
  SPEAKER_00: Jim Wiesmeyer will be moving premium here in the next coming months, as well as just the total package that you get from AgBull is pretty impressive.
• 5:32
  SPEAKER_00: Text updates, morning summaries, morning cattle calls, all the extra videos and intelligence intelligence intel on anything that you could want, whether it be oil, grains, aggs, any of those, let us know at AgBull.com.
• 5:51
  SPEAKER_00: There's a plethora of resources there.
• 5:53
  SPEAKER_00: Thank you for watching and thank you for listening.
• 5:55
  SPEAKER_00: I'm Jed Sidwell with AgBull Media.
• 5:57
  SPEAKER_00: I'll talk to you guys all tomorrow.