Latest / AG Bull / AG Squawk AM 10/16/2026 with Jed Sidwell | Trump's Plan for Iran

Transcript

AG Squawk AM 10/16/2026 with Jed Sidwell | Trump's Plan for Iran · 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 we're going to be talking about some Nopa soybean crush numbers, the price of ground beef, and Trump has been saying some things about our situation in Iran.
• 0:24
  SPEAKER_00: We'll get to all of that and more here in a bit.
• 0:38
  SPEAKER_00: As we look at the livestock markets yesterday, man, it was good to see some green.
• 0:42
  SPEAKER_00: Live cattle were up a little over two bucks at 227 and a quarter.
• 0:46
  SPEAKER_00: Feeder cattle closed at 341.95, up three and a half bucks in the front month.
• 0:52
  SPEAKER_00: Lean Hogs even saw a rebound.
• 0:54
  SPEAKER_00: They were in need of one.
• 0:55
  SPEAKER_00: They came up just 50 cents at 66.58.
• 0:59
  SPEAKER_00: Before I quote the grain markets here, I'd like to shout out our sponsor, plus 500.
• 1:04
  SPEAKER_00: We use plus 500 every single day to quote the markets, trade the markets, and all of those good things for futures and options.
• 1:11
  SPEAKER_00: Look towards plus 500.
• 1:13
  SPEAKER_00: And looking at those right now, the December corn contract came down just a bit overnight.
• 1:19
  SPEAKER_00: It's at 476 even.
• 1:21
  SPEAKER_00: Same with uh November soybeans, it's at 1257 and a half.
• 1:26
  SPEAKER_00: And then December Chicago wheat came down hard as well.
• 1:29
  SPEAKER_00: It's at 660 even.
• 1:32
  SPEAKER_00: Man, rough overnight little spell there for the grain side of things.
• 1:36
  SPEAKER_00: On the weather discussion, as you can see, Oklahoma is still highly highlighted there on that chart.
• 1:42
  SPEAKER_00: The dry weather dominates the middle of the country, though, for one week more with no appreciable rain for until about October 24th.
• 1:51
  SPEAKER_00: That'll make a great harvest window to hopefully get in here and get some good progress made on getting the corn and beans out of the fields up here in the Midwest.
• 1:59
  SPEAKER_00: Southwestern Oklahoma nearby areas got hit by somewhere from four to ten plus inches of rain over 72 hours.
• 2:06
  SPEAKER_00: And that's a lot of rain wherever you're at.
• 2:09
  SPEAKER_00: In Oklahoma, they called that a flood.
• 2:11
  SPEAKER_00: Hopefully, everyone's keeping their head above water down there.
• 2:13
  SPEAKER_00: It's hard to complain about rain because, especially as dry as it's been there, man, coming down this fast can provide some problems.
• 2:21
  SPEAKER_00: There's freeze warnings and frost advisories come over most of the plains and western Corn Belt here last night into tonight, the first kind of good freeze of the year.
• 2:32
  SPEAKER_00: This is the information we have from the NOPA soybean crush, and I figured I'd talk about these numbers just real quick.
• 2:39
  SPEAKER_00: I'm not the biggest crush expert, but here's what we have.
• 2:42
  SPEAKER_00: The NOPA members crushed 196.3 million bushels of soybeans in September.
• 2:49
  SPEAKER_00: That's 10 million below the 206.3 million average trade guess average trade guess that most people were pegging it at.
• 2:59
  SPEAKER_00: You can kind of see that range there on the survey estimate.
• 3:02
  SPEAKER_00: It's the first year with a year-over-year decline since March 2025.
• 3:09
  SPEAKER_00: You know, maybe not what we were expecting, but at the same time, I think most of us were thinking we'd export more soybeans than what we did at this point.
• 3:18
  SPEAKER_00: This is the livestock headline for today, and it comes from Mr.
• 3:22
  SPEAKER_00: Mike Sands, one of our favorites.
• 3:24
  SPEAKER_00: I encourage you to go on and check out some of those Mike Sands videos on our premium side.
• 3:28
  SPEAKER_00: It's$25 a month or$2.50 annually to join us over there.
• 3:31
  SPEAKER_00: We have a lot of Mike Sands cattle content.
• 3:35
  SPEAKER_00: Our daily show is Before the Bell, and then we have his afternoon show, Fat Tours Day, as well, which we do once a week, where we truly break down every chart that he can think of on the cattle side of things.
• 3:46
  SPEAKER_00: And this was the headline he brought us this morning.
• 3:49
  SPEAKER_00: And this goes back to the price of ground beef.
• 3:52
  SPEAKER_00: Mike says that September retail beef prices average near$9.47 a pound.
• 3:59
  SPEAKER_00: That's down about 2% from August and nearly 5% under April's record,$9.99, with the all-fresh average only 2% above a year ago.
• 4:12
  SPEAKER_00: Now, this progression, man, it looks steep when we compare it back all the way back to 2000.
• 4:19
  SPEAKER_00: But if you compare compared the price of anything back to 2000, I'm sure you would be shocked by the level of inflation that we have seen there.
• 4:27
  SPEAKER_00: And year over year, not a big jump.
• 4:31
  SPEAKER_00: We're holding fairly steady, and luckily demand is holding pretty alright as well.
• 4:37
  SPEAKER_00: This comes from President Trump this morning, and we have had a plethora of headlines about what is going over there in Iran.
• 4:45
  SPEAKER_00: Push maybe is starting to come to shove just a little bit.
• 4:48
  SPEAKER_00: And this is what he said.
• 4:50
  SPEAKER_00: Trump says he won't use nuclear weapons or send ground troops to Iran, which we had some you know discussion for a while that maybe this would become a ground war.
• 5:01
  SPEAKER_00: He said, I wouldn't use nuclear.
• 5:03
  SPEAKER_00: We don't have to.
• 5:03
  SPEAKER_00: We're the greatest nuclear power in the world.
• 5:06
  SPEAKER_00: That's sounding just a little bit cold war-y from President Trump, but that's also good to hear that it won't come to that.
• 5:13
  SPEAKER_00: On the economic calendar for today, export sales come out at 7 30 a.m.
• 5:17
  SPEAKER_00: Central.
• 5:17
  SPEAKER_00: The commitment or traders comes out at 2.30 p.m.
• 5:22
  SPEAKER_00: And thank you for watching and thank you for listening to AgSquawk AM this past week.
• 5:27
  SPEAKER_00: We've seen all of you guys pop up from Spotify to Apple Music to YouTube.
• 5:32
  SPEAKER_00: We're putting out tons of stuff on our social medias, and we love to hear from you guys there.
• 5:36
  SPEAKER_00: If you have any suggestions, any comments that we should talk about on these shows for next week, make sure to leave those in the comments down below.
• 5:43
  SPEAKER_00: We're always open to new ideas.
• 5:45
  SPEAKER_00: Thank you for tuning in this morning.
• 5:47
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media.
• 5:49
  SPEAKER_00: We're a financial channel that absolutely loves agriculture.
• 5:53
  SPEAKER_00: Have a great day.