Latest / AG Bull / AG Squawk AM 10/21/2026 with Jed Sidwell | SpaceX and Tesla Merger?

Transcript

AG Squawk AM 10/21/2026 with Jed Sidwell | SpaceX and Tesla Merger? · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM Jed Sidwell here, live from Juliet, Illinois.
• 0:15
  SPEAKER_00: Today on this fine Wednesday morning, we're going to be talking about some of this backslide that we've seen in the grains.
• 0:21
  SPEAKER_00: We'll talk about heifers as a percent of cattle on feed.
• 0:25
  SPEAKER_00: And SpaceX stock is already up big this morning.
• 0:28
  SPEAKER_00: We'll get to all of that and more here in a bit.
• 0:44
  SPEAKER_00: Live cattle were up two bucks and fifteen cents at 23018.
• 0:48
  SPEAKER_00: Feeder cattles mimicked that.
• 0:50
  SPEAKER_00: They were up$2.38 at$3.46.30.
• 0:53
  SPEAKER_00: Lean Hogs closed at$67.15, up 80 cents for them.
• 0:57
  SPEAKER_00: A much needed rally there.
• 0:59
  SPEAKER_00: Before I quote the grain markets here live, I'd like to shout out our sponsor, plus$500.
• 1:04
  SPEAKER_00: We use plus$500 T4 trading software to quote the markets every single day.
• 1:08
  SPEAKER_00: And as I look here, corn's down four and a half this morning at 457 and a half.
• 1:14
  SPEAKER_00: Soybeans are down six at twelve forty-one and three-quarters.
• 1:19
  SPEAKER_00: That's the November contract.
• 1:21
  SPEAKER_00: And December Chicago wheat is at 635, even down eight this morning.
• 1:26
  SPEAKER_00: Big downslide there.
• 1:28
  SPEAKER_00: Let's look at the weather here before we talk about more grain stuff.
• 1:31
  SPEAKER_00: The field work should stay wide open in central and eastern areas for at least three more days before we kind of have some of these weekend storms.
• 1:39
  SPEAKER_00: The mid-south is actually targeted to get some rain.
• 1:42
  SPEAKER_00: They've been pretty dry here for the last last 11 to 15 day period.
• 1:46
  SPEAKER_00: It's the best rain outlook that they've had in quite a while, and it's looking to be beneficial after 10 straight dry days.
• 1:54
  SPEAKER_00: The grain markets, they're on everyone's mind right now because they have been so just in the red constantly.
• 2:02
  SPEAKER_00: I mean, this overnight pressure that we keep having there.
• 2:04
  SPEAKER_00: It seems like as soon as we go to bed, we wake up and the grain market is lower, and that can be a little, you know, just hard on a guy if you are a producer right now in the grain space.
• 2:27
  SPEAKER_00: Because we have tools available to us to prevent risk loss or the the risk of loss.
• 2:35
  SPEAKER_00: Now, obviously, futures and options trading always involves the risk of loss, but it is a useful tool, and there's a reason here that everyone here at the AgBull team is a series three licensed broker.
• 2:48
  SPEAKER_00: If you have any questions about the markets, make sure and pick up that phone and call us at our line.
• 2:54
  SPEAKER_00: Licensed broker will pick up and talk to you about anything that you have on your mind.
• 2:58
  SPEAKER_00: And if you're subscribed to Ag Bull, not only do you get what we're going to talk about here in the next livestock slide, but you do get priority access to that line for$25 a month or$2.50 annually.
• 3:11
  SPEAKER_00: You can hear all about this next chart that I'm going to talk about from the Fat Tuesday show with Mike Sands.
• 3:17
  SPEAKER_00: It was a great show because we broke down a lot of things ahead of this cattle on feed report.
• 3:23
  SPEAKER_00: It comes out on Friday and it's a quarterly report.
• 3:26
  SPEAKER_00: And on the quarterly reports, we get it broken down by steers and heifers.
• 3:30
  SPEAKER_00: We get to see the sex differences of cattle on feed and maybe what that hints towards heifer retention rates and growing back the herd a little bit.
• 3:39
  SPEAKER_00: Now common supply and demand says that it's maybe not good to bring back the supply side of the equations.
• 3:46
  SPEAKER_00: But we have to remember we're not just competing domestically between the packer, we're competing internationally.
• 3:53
  SPEAKER_00: And internationally, we've been giving up exports and imports like no other.
• 3:57
  SPEAKER_00: And if we continue to maybe if we want to continue being a cattle producing country, we have to make sure we have the ammunition to do it.
• 4:07
  SPEAKER_00: And we do that by having enough cattle on feed.
• 4:11
  SPEAKER_00: As we look towards the outside markets, SpaceX is making major headline headwaves, and we knew it would as soon as it IPO'd.
• 4:21
  SPEAKER_00: Man, SpaceX has just been incredibly volatile.
• 4:25
  SPEAKER_00: And this one, it's up eight percent this morning.
• 4:27
  SPEAKER_00: SpaceX is up over eight percent in the pre-market after earnings beat, and Musk hints at the Tesla tie-up.
• 4:35
  SPEAKER_00: Kind of an alliteration there.
• 4:38
  SPEAKER_00: SpaceX soared in pre-market trading after reporting strong revenue and growth beating estimates.
• 4:44
  SPEAKER_00: The company pinned the results on its growing AI business and the recurring revenue from its satellite business.
• 4:50
  SPEAKER_00: Well, that's been pretty profitable, especially if you're one of those folks that have Starlink out there.
• 4:53
  SPEAKER_00: I am.
• 4:54
  SPEAKER_00: Billionaire-owned Elon Musk.
• 4:56
  SPEAKER_00: Ever heard of the guy?
• 4:57
  SPEAKER_00: Also floated a potential merger with his electrical vehicle firm, if you've ever heard of it.
• 5:03
  SPEAKER_00: It's called Tesla.
• 5:05
  SPEAKER_00: If we see those two join, man, that could be an incredible partnership that I am sure will send ripples throughout the whole stock market and our economy.
• 5:16
  SPEAKER_00: I mean, those are two ginormous companies that we have here represented in the United States.
• 5:22
  SPEAKER_00: You know, Mr.
• 5:23
  SPEAKER_00: Musk has varying there are varying opinions out there about Mr.
• 5:28
  SPEAKER_00: Musk.
• 5:29
  SPEAKER_00: But we have to say more business domestically is always a good thing.
• 5:34
  SPEAKER_00: As we look on the economic calendar, the NBA mortgage applications already came out at 6 a.m.
• 5:39
  SPEAKER_00: this morning.
• 5:39
  SPEAKER_00: And here at 9 30, we get the EIA energy stocks.
• 5:43
  SPEAKER_00: Well, thank you for watching and thank you for listening.
• 5:45
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• 5:48
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• 5:51
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• 5:56
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• 5:58
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• 6:01
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• 6:08
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• 6:12
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• 6:16
  SPEAKER_00: Well, thank you for tuning in this morning.
• 6:18
  SPEAKER_00: It's always a pleasure talking to everyone.
• 6:19
  SPEAKER_00: Make sure and catch Davis Michelson's show this afternoon with Ag Squawk in the afternoon.
• 6:24
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media.
• 6:26
  SPEAKER_00: We're a financial channel that absolutely loves agriculture.
• 6:29
  SPEAKER_00: Have a great day.