Latest / AG Bull / AG Squawk AM 7/7/2026 | When Weather and Headlines Move the Trade

Transcript

AG Squawk AM 7/7/2026 | When Weather and Headlines Move the Trade · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome back to AgSquawk AM.
• 0:13
  SPEAKER_00: Jed Sidwell here, live from Joliet, Illinois.
• 0:16
  SPEAKER_00: We have a great show planned for you today.
• 0:18
  SPEAKER_00: We had a true social post by from President Trump yesterday that really affects the livestock side of things and as well as some news out of Russia, breaking news about oil.
• 0:29
  SPEAKER_00: We'll get to all of that here in a bit.
• 0:31
  SPEAKER_00: Let's go ahead and roll the open.
• 0:57
  SPEAKER_00: Because of that, both of them are rather unchanged today.
• 1:00
  SPEAKER_00: Down around 13 cents live cattle are at 239 and 10 cents.
• 1:04
  SPEAKER_00: Feeder cattle are at 360 and a half.
• 1:07
  SPEAKER_00: Lean Hogs came back about about half a dollar yesterday at$98 and a half.
• 1:13
  SPEAKER_00: We'll go ahead and watch those again today as we get to this tweet here in a bit.
• 1:17
  SPEAKER_00: But on the grain side of things, we're going to go ahead and use this graphic once again because we saw an overnight rally on the grain side of things, which we love to see when it goes up overnight.
• 1:27
  SPEAKER_00: From a production agriculture standpoint, I'm sure we're trading off of some of this weather that we're seeing.
• 1:33
  SPEAKER_00: It's really important this time of year to watch that market all the way around the clock and tune in here at Agasqu a.m.
• 1:40
  SPEAKER_00: every morning to get updates on where it's at.
• 1:43
  SPEAKER_00: Corn as I'm making this show is at 440.
• 1:45
  SPEAKER_00: That's the September contract.
• 1:47
  SPEAKER_00: Beans are at 1183.
• 1:49
  SPEAKER_00: Chicago wheat as is at 614.
• 1:53
  SPEAKER_00: On to the tweet that I alluded to earlier.
• 1:56
  SPEAKER_00: Excuse me.
• 1:57
  SPEAKER_00: We're going to go on to the weather next.
• 1:59
  SPEAKER_00: If I can go ahead and get my order right, the Corn Belt is going to see rains through Saturday.
• 2:05
  SPEAKER_00: However, it's going to be really scattered and really variable.
• 2:08
  SPEAKER_00: Go ahead and check your local weather there.
• 2:10
  SPEAKER_00: Some areas are going to get a lot, some aren't going to get hardly at all.
• 2:13
  SPEAKER_00: The Northern Plains in Nebraska and South Dakota are going to get brief rains tonight.
• 2:17
  SPEAKER_00: Then they're going to be really, really dry all the way through July 15th.
• 2:22
  SPEAKER_00: This weather is brought to you by Mr.
• 2:24
  SPEAKER_00: Craig Solberg here at Nezvik Trading.
• 2:26
  SPEAKER_00: That's his 120-hour chart there.
• 2:30
  SPEAKER_00: Well, the true social post came out yesterday, and I'll go ahead and pop it up big here so that way you can screenshot to read the whole thing.
• 2:38
  SPEAKER_00: But the big headline from it is that Walmart will be dropping, or President Trump claims that Walmart will be dropping the price for a pound of ground beef by 15%.
• 2:48
  SPEAKER_00: He then goes on to compare it to gas, egg, and prescription drug prices that he claims are dropping as well.
• 2:55
  SPEAKER_00: It'll be interesting to see how he does this.
• 2:57
  SPEAKER_00: Some are saying that it's going to come at the cost of importing beef from outside of the U.S.
• 3:03
  SPEAKER_00: We'll go ahead and keep you updated here.
• 3:05
  SPEAKER_00: I'm sure Mr.
• 3:05
  SPEAKER_00: Mike Sands and I will be talking about it in our Fat Tuesday show, and you can catch updates on our text alert system if you go to our website at agbull.com.
• 3:14
  SPEAKER_00: It's$25 a month or$250 annually to sign up for text notifications.
• 3:19
  SPEAKER_00: And you can see the Fat Tuesday show with Mr.
• 3:22
  SPEAKER_00: Mike Sands whenever you'd like.
• 3:23
  SPEAKER_00: Highly recommend going and looking at that at AgBull.com.
• 3:29
  SPEAKER_00: Well, the international news for today is that Ukrainian drones hit Russia's largest oil refinery.
• 3:35
  SPEAKER_00: This news headline came from CNBC just a couple hours ago.
• 3:40
  SPEAKER_00: The city of Omsk, if I'm pronouncing that right, in Western Russia, holds their largest oil refinery.
• 3:47
  SPEAKER_00: Long distance, long-range drones hit it.
• 3:50
  SPEAKER_00: Make sure and pay attention to the energy markets today.
• 3:53
  SPEAKER_00: I'm sure there's going to be shockwaves throughout that market.
• 3:57
  SPEAKER_00: We'll make sure and keep you updated if we see any major changes tonight with Mr.
• 4:02
  SPEAKER_00: Davis Michelson or tomorrow on Ag Squawk AM as well.
• 4:06
  SPEAKER_00: Well, the economic calendar for today, the ADP weekly employment change comes out, or did come out at 7.15 Central.
• 4:14
  SPEAKER_00: The Purdue Ag Sentiment comes out at 8.30 a.m.
• 4:18
  SPEAKER_00: Well, that's all we have for you today on Ag Squawk AM.
• 4:22
  SPEAKER_00: But make sure and tune in this evening or afternoon.
• 4:26
  SPEAKER_00: Davis Michelson's gonna have on April Hems from Iowa to talk about the markets.
• 4:32
  SPEAKER_00: He's really excited about this one.
• 4:34
  SPEAKER_00: He told me I know I'm that I'm gonna know that I'm gonna be tuning in to watch because Davis' shows are always so much fun.
• 4:41
  SPEAKER_00: Well, that's all we have for you today.
• 4:43
  SPEAKER_00: Thank you for watching.
• 4:44
  SPEAKER_00: Thank you for listening.
• 4:45
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media.
• 4:48
  SPEAKER_00: We're a financial channel that loves agriculture.