Latest / AG Bull / AG Squawk AM 9/14/2026 with Jed Sidwell | Rapid-Fire Morning Update to Start the Week!

Transcript

AG Squawk AM 9/14/2026 with Jed Sidwell | Rapid-Fire Morning Update to Start the Week! · 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.
• 0:15
  SPEAKER_00: I'm with Ag Bull Media.
• 0:17
  SPEAKER_00: We're a financial channel that absolutely loves agriculture today on this fine Monday morning.
• 0:22
  SPEAKER_00: And man, it is a fine Monday morning after the absolute clinic Oklahoma State's football team put on this weekend.
• 0:28
  SPEAKER_00: I kid.
• 0:30
  SPEAKER_00: But as we work into our slides this morning, we are going to be talking about the WASD report that came out last week.
• 0:37
  SPEAKER_00: Just the absolute drought that we have seen in certain parts of cattle country and the price of oil is skyrocketing right now.
• 0:44
  SPEAKER_00: But to all of that and more here in a bit.
• 1:10
  SPEAKER_00: Feeder cattle closed at$3.32.5, up just about five bucks.
• 1:14
  SPEAKER_00: Lean hogs were the ones that saw the red, though.
• 1:16
  SPEAKER_00: They were down$1.63 at$81.5.
• 1:20
  SPEAKER_00: As I quote the grain markets here live, like to pop up our sponsor, plus$500.
• 1:24
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• 1:31
  SPEAKER_00: And as I quote it here, live December corn kind of stayed pretty consistent overnight after that initial action that it had.
• 1:37
  SPEAKER_00: It's at 529 and three quarters.
• 1:40
  SPEAKER_00: Nove beans are at 1298 and a quarter.
• 1:43
  SPEAKER_00: And Chicago, December wheat is at 728 and a half.
• 1:48
  SPEAKER_00: On to the weather discussion for today.
• 1:50
  SPEAKER_00: We're going to see some major weather, and you can see it right there on the chart in that red spot.
• 1:56
  SPEAKER_00: The northwestern corn belt faces an exceptionally wet pattern through at least September 20th, with widespread two to four inches of rain and even more four to eight inch totals in many areas, posing a significant flooding risk.
• 2:11
  SPEAKER_00: In stark contrast, there's going to be a sharp dry line that holds across the south southern corn belt, mid-south, and southeast for the next one to ten day period, opening an excellent harvest window for in southern Missouri, Illinois, and Indiana, softening up the ground to be able to get into the field there.
• 2:31
  SPEAKER_00: On the grain market discussion for today, this chart caught my eye.
• 2:35
  SPEAKER_00: It came from Zach Davis in our morning newsletter.
• 2:38
  SPEAKER_00: The USDA cut corn yield by essentially 2.2 bushels, but softened the carryout hit by absorbing 70% of the shortfall in feed and residual demand.
• 2:48
  SPEAKER_00: Now that's more than double the historical average of the 31%.
• 2:53
  SPEAKER_00: That's that dotted line across the middle there.
• 2:57
  SPEAKER_00: And it makes this WASD report just make a little more sense when you factor in this portion of it.
• 3:09
  SPEAKER_00: On the livestock at mar livestock market side of things, the cattle areas in drought are still not looking great.
• 3:17
  SPEAKER_00: Now we're sitting better than we were a while ago, that's for sure.
• 3:21
  SPEAKER_00: We have seen some relief.
• 3:22
  SPEAKER_00: The dark green areas on there are significant cattle areas.
• 3:26
  SPEAKER_00: The red lines over top are the areas that have also seen drought.
• 3:29
  SPEAKER_00: And into Oklahoma, parts of southern Kansas, Colorado, parts of western Nebraska, Wyoming, all the way up into Montana and the Dakotas, it has been dry.
• 3:40
  SPEAKER_00: And the big story here is pasture conditions.
• 3:43
  SPEAKER_00: Pasture conditions didn't hold up this summer.
• 3:45
  SPEAKER_00: That means we're going to be pushing to winter ground quicker.
• 3:49
  SPEAKER_00: That means the value of corn stocks go up.
• 3:51
  SPEAKER_00: That means the value of all roughages and forages go up.
• 3:54
  SPEAKER_00: It is going to be an expensive year if we have to feed cows here through the winter.
• 4:00
  SPEAKER_00: On the outside market side of things, Brent Crew jumps above$108 after Saudi Arabia shuts down critical pipelines that bypass the Strait of Hormuz.
• 4:11
  SPEAKER_00: The Saudi closed the east-west pipeline after drones launched from Iraq, damaged it.
• 4:17
  SPEAKER_00: It's not disclosed how badly it was damaged or how long it will stay closed.
• 4:21
  SPEAKER_00: The pipeline, which can carry seven million barrels a day, has played a key role in easing the severe oil supply disruption triggered by the Iran war.
• 4:31
  SPEAKER_00: A diplomatic meeting between Iran and the Gulf Arab states to discuss the situation in Hormuz was abruptly postponed by the pipeline's attacks.
• 4:43
  SPEAKER_00: Now there's a lot that we can draw from all of this headline, and I'm sure we're going to continue to see more stress and more tensions in that part of the world.
• 4:53
  SPEAKER_00: But what it's doing in this market is crazy.
• 4:55
  SPEAKER_00: As I look over here to the WTI crude oil this morning, it is at a 103.12, jumped up big last night.
• 5:03
  SPEAKER_00: And it'll be crazy to watch the price of gasoline and especially diesel as we work further here into harvest season.
• 5:11
  SPEAKER_00: It is going to put on a pressure on everyone.
• 5:14
  SPEAKER_00: And so we have to make sure and track that.
• 5:16
  SPEAKER_00: On the economic calendar for today, export inspections came out at 10 a.m.
• 5:20
  SPEAKER_00: Crop progress or it comes out at 10 a.m.
• 5:23
  SPEAKER_00: excuse me.
• 5:23
  SPEAKER_00: Crop progress is going to come up come out after the market close at 3 p.m.
• 5:28
  SPEAKER_00: Those are all central time.
• 5:31
  SPEAKER_00: Well, thank you for watching this morning.
• 5:33
  SPEAKER_00: It's always a pleasure to come back in fresh after a nice long weekend.
• 5:36
  SPEAKER_00: I went to Virginia to judge a livestock show this weekend and I talked to some producers out there afterwards about how just important it is to protect your bottom line these days, especially after we saw this correction in the cattle market.
• 5:50
  SPEAKER_00: Having puts on, having some sort of LRP is very important on the livestock side of things.
• 5:57
  SPEAKER_00: And right now, where we're sitting kind of in, you know, turmoil in the grain markets, it's important to have your bottom line covered.
• 6:04
  SPEAKER_00: Reach out to us.
• 6:05
  SPEAKER_00: We'd love to hear from you.
• 6:07
  SPEAKER_00: Um call our line or go to agbull.com.
• 6:10
  SPEAKER_00: I'm Jed Sidwell with AgBull Media.
• 6:12
  SPEAKER_00: We're a financial channel that absolutely loves agriculture.
• 6:15
  SPEAKER_00: Have a great day.