Latest / AG Bull / AG Squawk AM 7/9/2026 | WASDE Eve Preview

Transcript

AG Squawk AM 7/9/2026 | WASDE Eve Preview · 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: I'm with Ag Bull Media.
• 0:17
  SPEAKER_00: We're a financial channel that loves agriculture.
• 0:20
  SPEAKER_00: We're gonna talk about the price of Brent Crude.
• 0:22
  SPEAKER_00: We're gonna talk about beef exports and imports.
• 0:25
  SPEAKER_00: And wouldn't you know it's WASD Eve?
• 0:28
  SPEAKER_00: We'll get to all of that here in a bit.
• 0:46
  SPEAKER_00: Live cattle and feeder cattle kind of worked against each other.
• 0:49
  SPEAKER_00: Live cattle were down 80 cents at 237.63.
• 0:54
  SPEAKER_00: Feeders were up a dollar and forty, though, at 362, about even there.
• 0:59
  SPEAKER_00: Lean hogs finally saw that big jump yesterday.
• 1:03
  SPEAKER_00: They closed at 99.65, up$2.73.
• 1:08
  SPEAKER_00: As we talk right now, I'm getting my quotes from plus 500.
• 1:13
  SPEAKER_00: T4 trading software, the September contract in corn is at 40 or is it 430?
• 1:20
  SPEAKER_00: Beans are at 11.78 in Chicago.
• 1:23
  SPEAKER_00: Wheat is at 607.
• 1:26
  SPEAKER_00: Well, we've seen some really interesting things in the weather recently.
• 1:31
  SPEAKER_00: Uh, it's been kind of spooky in just the sheer amount of dryness or heat or rain that we've seen all over the country.
• 1:39
  SPEAKER_00: We saw a lot of rain overnight in certain areas.
• 1:42
  SPEAKER_00: Austin, Minnesota got four a little over four inches.
• 1:45
  SPEAKER_00: Uh Mason City, Iowa saw close to three.
• 1:49
  SPEAKER_00: The same saturated air area that got hit in early July continues to get more rain.
• 1:55
  SPEAKER_00: Southern Indiana braces for a lot of rain here in the next 48 hours.
• 2:00
  SPEAKER_00: The Northern Plains, man, July 11th through the 15th, they're gonna see over a hundred degrees.
• 2:06
  SPEAKER_00: Extreme heat watches are already posted for those areas.
• 2:11
  SPEAKER_00: Well, like I alluded to at the beginning of the show, it's WASD Eve.
• 2:16
  SPEAKER_00: The big WASDI report lands tomorrow, Friday at 11 Central.
• 2:21
  SPEAKER_00: After two reports that basically were kind of a non-event report that didn't say just a whole lot.
• 2:28
  SPEAKER_00: It'll be interesting to see what comes out, and this one will make sure and keep you posted before and after in both Ag Squawk AM and Ag Squawk with Davis Michelson.
• 2:39
  SPEAKER_00: If you're on the premium side, we're gonna be putting out a lot in our newsletters, tech services, all of that.
• 2:45
  SPEAKER_00: We'd love to have you on the premium side.
• 2:47
  SPEAKER_00: Go to AgBull.com.
• 2:50
  SPEAKER_00: Well, for a beef discussion today, I thought this chart was really interesting to look at.
• 2:55
  SPEAKER_00: Imports and exports have been kind of the talk of the town on the beef side of things, and our beef sales to China has been just really, really variable.
• 3:06
  SPEAKER_00: Our sales went from 40 million pounds a month in early 2025, and they've recently just hit an absolute flat line at kind of one to two million pounds a month ever since.
• 3:17
  SPEAKER_00: And just recently in May, we've kind of hit a low at 0.8 million.
• 3:22
  SPEAKER_00: Man, we hope that picks up because you know we're importing more beef in the United States, and we've been known as the premium producer of high quality beef, the United States, and it would be really nice to uh have that back and have that market to the Chinese.
• 3:39
  SPEAKER_00: Once again, you know they're a big pork consumption area, but they do still do eat quite a bit of beef over there.
• 3:45
  SPEAKER_00: Uh, if you haven't been paying attention to the price of oil recently, well, I'm sure you've noticed it at the pump.
• 3:52
  SPEAKER_00: The price of gas in return has been really, really crazy.
• 3:56
  SPEAKER_00: The price of Brent Crude has been just a complete roller coaster.
• 4:00
  SPEAKER_00: And this chart came through our Nesvik uh newswire this morning.
• 4:04
  SPEAKER_00: And man, oil spiked at about$11 or at$1.18 or$118, excuse me, uh, as the war erupted with Iran in February.
• 4:15
  SPEAKER_00: Then it tumbled all the way back down to$78 in the months that they announced the ceasefire, the collapse ceasefire, and all of those things.
• 4:23
  SPEAKER_00: Take a screenshot and look at all those events there, and you can see as news comes out, the market changes.
• 4:31
  SPEAKER_00: Just recently, since we've retaliated to some ship attacks in the Strait of Hormuz on Iran, the price has bounced back up again.
• 4:39
  SPEAKER_00: You have to make sure to stay informed on the news.
• 4:44
  SPEAKER_00: We like to use trade the news.
• 4:46
  SPEAKER_00: There are newswire service.
• 4:48
  SPEAKER_00: Tell them the Ag Bull Boys sent you.
• 4:51
  SPEAKER_00: It's really important just to stay aware of what's going on there because the price of oil affects all other markets.
• 4:58
  SPEAKER_00: It really does.
• 4:59
  SPEAKER_00: Well, we have a lot of things on the economic calendar today.
• 5:02
  SPEAKER_00: Obviously, we have the WASDI tomorrow, but today we have export sales come out at 7:30 a.m.
• 5:08
  SPEAKER_00: The jobless claims come out at the same time.
• 5:11
  SPEAKER_00: Existing home sales come out at 9, and natural gas storage change comes out at 9.30 a.m.
• 5:17
  SPEAKER_00: Well, that's all we have for slides for you today, but I'd like to pop this guy on, Mr.
• 5:23
  SPEAKER_00: Davis Michelson, real quick.
• 5:24
  SPEAKER_00: He's going to be on this afternoon once again with AgSquawk P.M.
• 5:30
  SPEAKER_00: He does a great job of bringing out some cool guests, kind of a longer form show on your drive home.
• 5:35
  SPEAKER_00: It's really, really enjoyable.
• 5:37
  SPEAKER_00: If you're stuck just in your car, if you're out in the tractor, Davis, you can listen to him all day.
• 5:44
  SPEAKER_00: He's great to listen to.
• 5:45
  SPEAKER_00: Well, thank you.
• 5:46
  SPEAKER_00: Go ahead and follow our socials there.
• 5:48
  SPEAKER_00: We're on every single social media, and I just don't mean that lightly.
• 5:52
  SPEAKER_00: We're on it LinkedIn, we're on Instagram, we're on Snapchat, and we're always putting stuff up there.
• 5:58
  SPEAKER_00: Thanks for watching.
• 5:59
  SPEAKER_00: Thanks for listening this morning.
• 6:00
  SPEAKER_00: I'm Jed Sidwell with AgBull Media.
• 6:03
  SPEAKER_00: We're a financial channel that loves agriculture.
• 6:06
  SPEAKER_00: Have a great day.