Latest / AG Bull / AG Squawk AM 8/12/2026 with Jed Sidwell | Derecho Damage and A High Stakes WASDE Morning

Transcript

AG Squawk AM 8/12/2026 with Jed Sidwell | Derecho Damage and A High Stakes WASDE Morning · AG Bull

• 0:10
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:13
  SPEAKER_00: Jed Sidwell here, live from Joliet, Illinois.
• 0:16
  SPEAKER_00: I'm with Ag Bull Media.
• 0:18
  SPEAKER_00: We saw some pretty crazy weather here in the northern Corn Belt yesterday.
• 0:24
  SPEAKER_00: And not to mention, today is the day the WASDI report comes out at 11 Central.
• 0:30
  SPEAKER_00: We'll break all that down here in a bit.
• 0:51
  SPEAKER_00: Live cattle closed at 226, 325, down a little over a half buck.
• 0:57
  SPEAKER_00: Feeder cattle were at 345 and a quarter down 68 cents.
• 1:02
  SPEAKER_00: And lean hogs were down 35 cents at 83.33 or 83.33.
• 1:09
  SPEAKER_00: The quoting the grain markets here live with our quotes from plus 500 T4 trading software from plus 500 is what we use.
• 1:17
  SPEAKER_00: Dece corn is at 464, even sep beans are at 1155.
• 1:24
  SPEAKER_00: And Chicago wheat is at 646.
• 1:27
  SPEAKER_00: The big story across the futures space is the stocks overnight.
• 1:33
  SPEAKER_00: They saw quite a big move, and that's kind of sending shockwaves into shock waves into everything else.
• 1:41
  SPEAKER_00: Honor weather discussion for today.
• 1:43
  SPEAKER_00: Man, it was a heck of a day here.
• 1:46
  SPEAKER_00: I actually had to move down into the basement shortly after the market opened here and Tommy's house in Valparaiso, Indiana.
• 1:53
  SPEAKER_00: They saw enough weather that it's knocked out the power for like he said 400,000 people or something like that in kind of the Valparaiso Gary, Indiana area.
• 2:03
  SPEAKER_00: So hopefully they get back there.
• 2:05
  SPEAKER_00: What they're calling it is a Derecho, and uh it flattened the eastern corn belt.
• 2:10
  SPEAKER_00: Over 700 is instances of wind and wind wind damage have been reported yet have been reported since yesterday morning, excuse me, including nearly 50 gusts over 70 plus miles per hour.
• 2:25
  SPEAKER_00: They grounded all the planes at all the airports around here.
• 2:29
  SPEAKER_00: We heard there was even a few gusts of 80 around us.
• 2:32
  SPEAKER_00: Nebraska and Iowa saw some pretty big storms overnight.
• 2:35
  SPEAKER_00: You can look over there on the kind of the purple spots that are going over those states that they might have seen a slight bit of flooding in areas there as well.
• 2:46
  SPEAKER_00: Well, the big thing today, the WASDI report, it comes out.
• 2:51
  SPEAKER_00: We've heard a variety of estimates on what's going to happen.
• 2:55
  SPEAKER_00: Kind of the story throughout the country is there is a mixed bag with regards to weather and crop conditions.
• 3:02
  SPEAKER_00: There's the haves and have nots with regards to how that hit your particular area.
• 3:07
  SPEAKER_00: The thing is, we are very good at growing corn in the United States and very good at growing soybeans, and our technologies keep getting better.
• 3:14
  SPEAKER_00: So we always have to keep that in mind as well.
• 3:18
  SPEAKER_00: On the economic calendar for today, the MBA mortgage application comes out at 6 a.m.
• 3:23
  SPEAKER_00: already.
• 3:23
  SPEAKER_00: The CPI comes out at 7.30.
• 3:25
  SPEAKER_00: And the EI the EIA energy stocks come out at 9 30 a.m.
• 3:30
  SPEAKER_00: in the big one, the WASDI, at 11 a.m.
• 3:32
  SPEAKER_00: Central Time is as is where we're at.
• 3:36
  SPEAKER_00: So that's why we put it up as Central Time.
• 3:39
  SPEAKER_00: Follow us on our social medias.
• 3:40
  SPEAKER_00: We're always putting stuff up there.
• 3:41
  SPEAKER_00: And make sure to tune into Mr.
• 3:43
  SPEAKER_00: Davis Michelson this afternoon.
• 3:45
  SPEAKER_00: If you're like, hey, Jed, you forgot to talk about cattle today.
• 3:48
  SPEAKER_00: Well, I'd encourage you to go back and listen to our Fat Tuesday show yesterday with Mr.
• 3:52
  SPEAKER_00: Mike Sands.
• 3:53
  SPEAKER_00: It's normally on our premium subscription.
• 3:56
  SPEAKER_00: We thought yesterday's was so good we had to release it to the general public.
• 3:59
  SPEAKER_00: If you have a question about cattle, I bet Mr.
• 4:02
  SPEAKER_00: Mike Sands could answer it for you in that video.
• 4:05
  SPEAKER_00: Well, that's all I have for today.
• 4:07
  SPEAKER_00: Thank you for watching.
• 4:08
  SPEAKER_00: Thanks for listening.
• 4:09
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media.
• 4:11
  SPEAKER_00: Have a great day.