Latest / AG Bull / Ag Squawk | Davis Michaelsen | Shaun Haney | Real Agriculture

Transcript

Ag Squawk | Davis Michaelsen | Shaun Haney | Real Agriculture · AG Bull

• 0:10
  SPEAKER_03: Lots to talk about today.
• 0:11
  SPEAKER_03: Lots of things going on in the markets.
• 0:14
  SPEAKER_03: I'm really looking forward to today's conversation.
• 0:17
  SPEAKER_03: My friend from Canada is here to give us the view from the north.
• 0:22
  SPEAKER_03: And of course, after today, we do, I mean, we absolutely gotta check in with the markets.
• 0:38
  SPEAKER_03: From behind the big blue, bodacious microphone of Ag Bull, your pal Davis Michelson here with you.
• 0:45
  SPEAKER_03: Glad to have you along on this Friday edition of Ag Squawk in the Afternoon.
• 0:51
  SPEAKER_03: Sean Haney from Real Ag will be my guest today.
• 0:54
  SPEAKER_03: He's got a view from Canada.
• 0:55
  SPEAKER_03: I was talking to my wife.
• 0:57
  SPEAKER_03: Yeah, the the dude is is based in Canada, but I'm gonna tell you some of his insights into what goes on in here in the United States are are second to none.
• 1:08
  SPEAKER_03: The guy is absolutely switched on.
• 1:10
  SPEAKER_03: I got I've got a list of questions.
• 1:13
  SPEAKER_03: I don't know if if we'll get there or not.
• 1:15
  SPEAKER_03: I'm gonna let the conversation go where it wants to, but uh super smart guy and Sean Haney.
• 1:20
  SPEAKER_03: I've got him all chambered here, just about ready to go.
• 1:24
  SPEAKER_03: But before we do, we really do need to talk about what happened in the markets today.
• 1:29
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• 1:32
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• 1:35
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• 1:37
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• 1:40
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• 1:46
  SPEAKER_03: In the markets, the tail of the tape goes something like this.
• 1:50
  SPEAKER_03: The bottom fell out of wheat right away this morning, down like 30 cents in the winter wheat markets.
• 1:55
  SPEAKER_03: That put a sag on corn and soybean futures ahead of ahead of the reports today.
• 2:01
  SPEAKER_03: However, cattle, especially feeders, said, Hold my sparkling water and surged sharply higher, with lean hogs also on the plus side of unchanged this morning.
• 2:09
  SPEAKER_03: Rounding out the lunch hour, corn recovered from session lows, and soybeans flipped to the plus side just all of a sudden, uh, running around eight cents higher through the afternoon.
• 2:18
  SPEAKER_03: Wheat trimmed losses as well, but the dime recovery still left winter wheat deep underwater.
• 2:25
  SPEAKER_03: Meanwhile, the uh livestock markets maintained early session strength.
• 2:29
  SPEAKER_03: That goes across the livestock sector, the feeders, the fed cattle, and the lean hog futures.
• 2:35
  SPEAKER_03: Let's browse over the settlements.
• 2:36
  SPEAKER_03: But before we begin this, thanks to plus 500.
• 2:39
  SPEAKER_03: I've said it before.
• 2:40
  SPEAKER_03: We here at Agble use plus 500 T4 software every day for real-time quotes and a host of other functions.
• 2:46
  SPEAKER_03: And you should too, beloved viewer.
• 2:48
  SPEAKER_03: That's plus 500, plus 500.
• 2:51
  SPEAKER_03: Over to the markets now.
• 2:53
  SPEAKER_03: December corn unchanged on the day.
• 2:56
  SPEAKER_03: It was a squeaker.
• 2:57
  SPEAKER_03: I got both the December and the March unchanged.
• 2:59
  SPEAKER_03: The September was up to the May 27 is down to, but that D settled out at 487 and a half.
• 3:06
  SPEAKER_03: Novi beans up nine and three quarters, turns out.
• 3:09
  SPEAKER_03: I don't know if anybody would have predicted that at the start of trade today.
• 3:13
  SPEAKER_03: Wound up at uh 1253 and a half.
• 3:15
  SPEAKER_03: Meal was higher.
• 3:16
  SPEAKER_03: Soybean oil was lower.
• 3:18
  SPEAKER_03: Ooh, I'm calling it moderately lower on the soybean oil.
• 3:21
  SPEAKER_03: And then the uh winter wheats, September Chicago ended up, this was actually a pretty decent recovery, ended up 18 and a quarter cents lower at 678, even the KC wheat on the September contract down 14 and a half at 745 and one quarter at the settlement.
• 3:41
  SPEAKER_03: And then over to the live stocks, like I said, a pretty decent day.
• 3:45
  SPEAKER_03: The uh October fat cattle up 112.5, 222.50 at settlement.
• 3:50
  SPEAKER_03: October feeders up$2.55 on the day,$3.36 on the snout.
• 3:56
  SPEAKER_03: And then Lean Hog features the October contract up$12.12,$89.02 and one half.
• 4:04
  SPEAKER_03: Now, I before we bring in Sean Haney from Real Agriculture and Real Ag Radio, I do uh I want to bring in Agriculture's 17th sexiest man, Tommy Grossoffee, for a little bit of a little perspective on what happened in the wheat market, why such the downdraft, and then why the subsequent return.
• 4:23
  SPEAKER_03: Tommy Grassoffee, the 17th sexiest man alive.
• 4:27
  SPEAKER_03: How's it going, buddy?
• 4:28
  SPEAKER_03: Glad to have you with us.
• 4:29
  SPEAKER_00: That is the best, nicest, kindest introduction I've ever had.
• 4:33
  SPEAKER_03: David, 17.
• 4:34
  SPEAKER_03: I'd give you 17.
• 4:36
  SPEAKER_00: Thank you.
• 4:37
  SPEAKER_00: From the time I took my first old man, I got up for the bathroom at four or five in the morning, grains were up.
• 4:43
  SPEAKER_00: And then there's the second old man I should get up, and then grains were still up, but they were starting to come over.
• 4:49
  SPEAKER_00: From the top of the stairs to the coffee pot in the couch to get ready to join the Nesvit conference call, wheat had a 30 cent move.
• 4:58
  SPEAKER_00: So pretty much figure folks, wheat traded from up 10 to down 20.
• 5:02
  SPEAKER_00: Then we took the biscuit break at 7.45.
• 5:04
  SPEAKER_00: Markets closed from 745 to 8.30.
• 5:07
  SPEAKER_00: Swooshed down all the wheats down 30, 34.
• 5:10
  SPEAKER_00: And then we came back.
• 5:12
  SPEAKER_00: Biggest move, we want to talk about wheat, but the biggest move was the corn, Davis.
• 5:16
  SPEAKER_00: That corn traded from down nine to up two.
• 5:19
  SPEAKER_00: That's a monster move because the wheat volumes are a little light, and wheat can be pushed around, being that there's three of them border trade, Casey, and Minneapolis.
• 5:27
  SPEAKER_00: With that, incredible volatility, grateful the markets bounce back.
• 5:31
  SPEAKER_00: You ask the question, I give you the answer in 30 seconds or less.
• 5:33
  SPEAKER_00: What happened?
• 5:35
  SPEAKER_00: A story out of Ukraine, like everything was all peace and love and hugs, and the market sold off.
• 5:41
  SPEAKER_00: And then the drones started bombing again.
• 5:43
  SPEAKER_00: And we're like, how can we have a peace deal with Russia, Ukraine, Port of Odessa's open, and drones are bombing?
• 5:49
  SPEAKER_00: So with that, August options expired today.
• 5:52
  SPEAKER_00: That put a lot of strikes at risk.
• 5:54
  SPEAKER_00: It looks like we blew through a lot of strikes and then came back.
• 5:57
  SPEAKER_00: Incredible volatility.
• 5:58
  SPEAKER_00: Glad the week's over.
• 5:59
  SPEAKER_00: Folks, I'm ready for the weekend.
• 6:01
  SPEAKER_00: And if anyone needs anything, I'll be working Sunday night.
• 6:04
  SPEAKER_00: But thanks for coming on, and I'm really looking forward to having our next guest on.
• 6:07
  SPEAKER_00: He's not only one of the best in the industry, I think I'll even say he's better than Jim Wiesmeyer because we know our own show.
• 6:18
  SPEAKER_03: He'll never return your calls again.
• 6:20
  SPEAKER_03: He's he's not gonna like that.
• 6:22
  SPEAKER_03: He's gonna call in.
• 6:24
  SPEAKER_03: I see what you're doing here.
• 6:25
  SPEAKER_03: Tommy Grassoffi, the 17th sexiest man known in the universe.
• 6:31
  SPEAKER_03: Appreciate you, buddy.
• 6:32
  SPEAKER_03: Thanks for your perspective.
• 6:33
  SPEAKER_03: That's awesome stuff.
• 6:34
  SPEAKER_03: Yeah, heck of a move there.
• 6:36
  SPEAKER_03: Who knows what's gonna happen on Monday, but I can tell you, ham-handed segue next.
• 6:42
  SPEAKER_03: I am super excited about this.
• 6:44
  SPEAKER_03: I've been way looking forward to this.
• 6:46
  SPEAKER_03: With with all of that being said, it gives me a great amount of joy to bring in Sean Haney from Real Agriculture and Real Ag Radio.
• 6:57
  SPEAKER_03: Sean Haney, welcome to Ag Squawk.
• 7:00
  SPEAKER_03: So glad that you uh that you're taking time out of your schedule to come and hang out with us a little bit, brother.
• 7:05
  SPEAKER_03: How you been?
• 7:06
  SPEAKER_01: Oh, Davis, I'm doing great, man.
• 7:08
  SPEAKER_01: I I I do have a big question for you.
• 7:11
  SPEAKER_01: All right.
• 7:11
  SPEAKER_01: If Tommy is the 17th sexiest man, the poor guy in 18th, yeah, he's just gotta be like, oh really?
• 7:22
  SPEAKER_03: That's see, and at 18 is the point where they stop publishing pictures.
• 7:26
  SPEAKER_03: Like one through 17, you can find pictures online, but 18, they don't even put a picture up of that guy.
• 7:32
  SPEAKER_03: So, you know, we we don't even know what he looks like.
• 7:35
  SPEAKER_03: It's it's hard to hard to compare.
• 7:36
  SPEAKER_03: You know what I mean?
• 7:38
  SPEAKER_01: Exactly.
• 7:39
  SPEAKER_01: Hey man, uh, congratulations on the show and uh thanks for having me on as well.
• 7:43
  SPEAKER_01: I appreciate it.
• 7:44
  SPEAKER_03: Well, yeah, I'm I'm really psyched about it.
• 7:46
  SPEAKER_03: Glad to have you on board here with us.
• 7:48
  SPEAKER_03: I've as as you're mentioning there, I've got a new audience, and I'm I'm happy to uh present you to them, Sean Haney.
• 7:56
  SPEAKER_03: Talk to us about real agriculture, what you guys do up there, how'd you get started?
• 8:01
  SPEAKER_03: Give us the the elevator speech on real agriculture.
• 8:03
  SPEAKER_01: Yeah, really something that started as a hobby that turned into uh a career.
• 8:07
  SPEAKER_01: Back in 2008, I started running around at farm shows with a camcorder and interviewing people in booths, and I was the maybe the original person to do that, and things kind of got rolling and took off.
• 8:19
  SPEAKER_01: And you know, he added a video producer and all of a sudden hired somebody else to write some stories and and we're rolling.
• 8:24
  SPEAKER_01: Uh, real agriculture.com kind of originally started as a site focused on Canadian agriculture, but you know, quickly grew.
• 8:31
  SPEAKER_01: We started the real ag radio show that uh I host every day on on Sirius XM on Rural Radio and do that, and it really took on a more of a you know the ability to talk more about what's going on in the US because that also impacts the Canadian market as well.
• 8:44
  SPEAKER_01: And now I'm just so fortunate that get to really cover North America.
• 8:49
  SPEAKER_01: I really consider myself kind of a North American entity in the sense of uh talking about what's impacting farmers and ranchers and industry in both countries and get to speak really across Canada and the U.S.
• 9:00
  SPEAKER_01: at different events and meetings.
• 9:01
  SPEAKER_01: Next week I'm in Washburn, North Dakota at a Windfield Field Day.
• 9:05
  SPEAKER_01: So yeah, I just feel so fortunate and lucky.
• 9:08
  SPEAKER_03: Where do uh people find more?
• 9:09
  SPEAKER_03: Is it realagriculture.com?
• 9:12
  SPEAKER_03: Is that right?
• 9:12
  SPEAKER_01: Yeah, realagriculture.com, or they can also uh download the real ag radio podcast.
• 9:17
  SPEAKER_01: We put Real Agriculture produces a ton of different podcasts, and you can find uh myself and different people from the content team there.
• 9:23
  SPEAKER_03: Well, Sean, there's something that I need to do.
• 9:25
  SPEAKER_03: I promised that I would for uh for Tommy's wife, and I I hope you'll bear with us and take it in the spirit in which it's intended.
• 9:31
  SPEAKER_03: But uh, I'm gonna play a little song on the coronet as uh as our shout out to Canada itself today.
• 9:36
  SPEAKER_03: Are you ready?
• 9:37
  SPEAKER_03: Yeah, ready.
• 9:47
  SPEAKER_03: That's as far as I've gotten, but but I'm pretty happy with it so far.
• 9:50
  SPEAKER_03: What do you think?
• 9:51
  SPEAKER_01: That's legit.
• 9:52
  SPEAKER_01: That's that's good.
• 9:53
  SPEAKER_01: I hey, listen, I I appreciate that.
• 9:56
  SPEAKER_01: This is uh it's like a one-man show band kind of thing.
• 9:59
  SPEAKER_01: I love it.
• 10:00
  SPEAKER_03: A little bit, a little bit, for better or worse.
• 10:03
  SPEAKER_03: Well, and and I guess you know it's it's my sort of silly effort to try to build a bridge your direction.
• 10:10
  SPEAKER_03: I know that that you are are super tuned in to what goes on here on the south side of the border here in the United States, whether it be policy, farm policy, even some of the nuttiness that goes on in in Washington.
• 10:24
  SPEAKER_03: So I'm I'm very anxious to throw some questions at you along those lines.
• 10:29
  SPEAKER_03: But first, I imagine you're fairly cued in to what's what's going on in the growing season up there in Canada.
• 10:36
  SPEAKER_03: What can you tell us so far?
• 10:37
  SPEAKER_03: What's been the Canadian farming experience thus far this summer?
• 10:41
  SPEAKER_01: Yeah, you know, if you look at the Western Canadian prairies, Alberta, Saskatchewan, Manitoba, the story has been uh cool, slow start to the spring.
• 10:49
  SPEAKER_01: Uh a lot of moisture in May and June.
• 10:52
  SPEAKER_01: In some places, way too many, like in central Alberta, around Edmonton, the eastern part of Saskatchewan, western part of Manitoba, way too wet.
• 11:00
  SPEAKER_01: Like I know a farmer in Manitoba that got like 10 or 12 inches over the course of like two days.
• 11:05
  SPEAKER_01: That's way too much.
• 11:06
  SPEAKER_01: No crop wants that.
• 11:07
  SPEAKER_01: I was at the Egg in Motion show outside of Saskatoon this week, and I would say in generalities, the crops looking really good.
• 11:15
  SPEAKER_01: There is a lot of potential out in the fields.
• 11:17
  SPEAKER_01: There are some drowned-out spots.
• 11:18
  SPEAKER_01: That's a given.
• 11:19
  SPEAKER_01: We don't know the unseeded acres because of all that moisture.
• 11:21
  SPEAKER_01: But crops are looking pretty good.
• 11:23
  SPEAKER_01: Cereal's the best.
• 11:24
  SPEAKER_01: That's why a lot of Western Canadian farmers pay attention to that spring wheat market because that's a key crop around 20 million acres across the prairies.
• 11:30
  SPEAKER_01: The canola is about just north of 23 million.
• 11:34
  SPEAKER_01: It's looking decent as well, but a familiar thing I heard all week talking to growers, we need another shot of rain.
• 11:41
  SPEAKER_01: We're not going to achieve that up, you know, that full potential of what's out in the field right now unless we get a little bit more moisture.
• 11:47
  SPEAKER_01: The challenge is it's not really in the forecast.
• 11:50
  SPEAKER_01: And so when canola is in in you know in full flower, that's the time where you need kind of a little bit cooler temperatures and a little bit of moisture, and I'm not sure Mother Nature is going to deliver on it.
• 12:00
  SPEAKER_01: So there's a lot of questions still about this Western Canadian crop.
• 12:03
  SPEAKER_03: Yeah, okay.
• 12:04
  SPEAKER_03: Here in the U.S., the big story, as as I'm sure you know, just the cost of doing business on the farm, tough times, tougher for some than others, but definitely high input costs, high fuel costs, etc.
• 12:17
  SPEAKER_03: I don't want to assume that that's the case up in Canada as well.
• 12:20
  SPEAKER_03: What can you tell us about uh the cost of doing business for farmers up there?
• 12:24
  SPEAKER_01: Yeah, same story, man.
• 12:25
  SPEAKER_01: Like just different geographies, same issue.
• 12:29
  SPEAKER_01: Farmers really feeling that they are caught in the pinch.
• 12:31
  SPEAKER_01: You know, you think a bit earlier in the growing season during right at the beginning of the Iran War, and we're trying to put seed in the ground at the same time.
• 12:38
  SPEAKER_01: Terrible timing from a farm from a farming perspective, especially for people that hadn't yet topped up and got all their fertilizer that they they need.
• 12:47
  SPEAKER_01: You know, I think across the board, across North America, farmers are feeling this pinch.
• 12:51
  SPEAKER_01: They're they're seeing the entire cost complex.
• 12:53
  SPEAKER_01: You know, we tend to focus on seed furt and chem costs or variable costs.
• 12:57
  SPEAKER_01: It's only about a third of the of the of the cost equation.
• 13:00
  SPEAKER_01: And if you look across that other two-thirds, fixed costs, you know, things like equipment and parts and you know, labor, that is also rising.
• 13:09
  SPEAKER_01: It's the entire cost complex that is really impacting farm farmers' ability, no matter what how you know what their yields are, it's impacting their ability to really pencil in a profit in a lot of these crop types.
• 13:23
  SPEAKER_01: Definitely Western Canada, I think, is a little bit better shaped.
• 13:26
  SPEAKER_01: The canola market's been one of the high performers of of the year.
• 13:30
  SPEAKER_01: You know, if you think back 52 weeks ago, we're about 25% higher today than we were then.
• 13:36
  SPEAKER_01: Uh there's been strong demand into China for canola, also strong demand uh in the U.S.
• 13:40
  SPEAKER_01: biofuel market.
• 13:42
  SPEAKER_01: But it costs are really all the talk.
• 13:45
  SPEAKER_01: It is nice relief, though, as of late.
• 13:47
  SPEAKER_01: We've seen this market kind of respond to some of the fundamentals.
• 13:51
  SPEAKER_01: Finally, wheat being one of them, although today was a bit of a bad day in the in the wheat trade, it has improved over the last eight weeks.
• 13:59
  SPEAKER_01: It's gonna need to either improve more or we're gonna need to see some cost consolidation.
• 14:04
  SPEAKER_01: I I'm not sure that's gonna happen in the short term.
• 14:07
  SPEAKER_03: Interesting.
• 14:08
  SPEAKER_03: All right.
• 14:08
  SPEAKER_03: Well, I guess one more thing I would ask before we we move on to some bigger issues, although this this has been a big one.
• 14:15
  SPEAKER_03: People complaining about the smoke here in the the northeastern United States, wildfires, man, you guys got it bad up there.
• 14:23
  SPEAKER_01: Yeah, and I I will say this.
• 14:25
  SPEAKER_01: I do think Canada needs to do what it can to deal with wildfire, fire smoke, uh wildfires, period, a little bit more.
• 14:34
  SPEAKER_01: But I will say there's been a lot of misreporting in the US news about this.
• 14:39
  SPEAKER_01: A lot of the boreal forest that has been causing this wildfire smoke, we're we're talking about thousands of acres that where there were no people, there are no roads.
• 14:53
  SPEAKER_01: This isn't like a bunch of people camping being reckless and starting a fire, or is it really forests that you can really manage?
• 14:59
  SPEAKER_01: This is like if you look at some of the the maps and the actual size of of of this area, it's it's not as easy, it's easy to say Canada fix it, a little bit harder to to do so.
• 15:14
  SPEAKER_01: I I know the air quality sucks.
• 15:16
  SPEAKER_01: Like you go back to last week, you look at some of the pictures from Chicago, Minneapolis, New York.
• 15:20
  SPEAKER_01: I got relatives in New York, and you know, they were talking about how man, brutal, like just couldn't even barely see across the street.
• 15:27
  SPEAKER_01: That I understand why people are upset.
• 15:30
  SPEAKER_01: Trying to fix it is a much more difficult situation.
• 15:33
  SPEAKER_01: If we end up with the situation, like the president says, that they're still considering tariffs as punishment because of the wildfire smoke, that is really going to throw this relationship in a, I think, a bit of a rye because it's it's just not easy to fix on the Canadian side for the reasons of the remoteness and the overall size of this forest.
• 15:51
  SPEAKER_03: Well, you know, forests are an ecosystem and the they know how to maintain themselves, don't they?
• 15:58
  SPEAKER_03: This is a it's just a natural part of having having a forest for one thing.
• 16:02
  SPEAKER_03: I would just throw that out there.
• 16:03
  SPEAKER_01: Well, it and it's wind direction, too.
• 16:06
  SPEAKER_01: Like that that's that's a that's another factor, right?
• 16:09
  SPEAKER_01: Hey, I'm right now in the interior, you know, just across the Alberta border into British Columbia, and there's a lot of wildfire smoke around here.
• 16:16
  SPEAKER_01: That's a different forest.
• 16:17
  SPEAKER_01: That is, you know, something that needs to be managed.
• 16:19
  SPEAKER_01: You can manage that underbrush, which is something the president's talked about.
• 16:22
  SPEAKER_01: But on the eastern side of the country, in in Canada's north, super remote.
• 16:26
  SPEAKER_01: There is no people in the vicinity of that.
• 16:29
  SPEAKER_01: It's yeah, it's it's it's unfortunate.
• 16:31
  SPEAKER_01: I I wish we could rectify just with the snap of the finger, yeah, but it is not that.
• 16:36
  SPEAKER_03: Well, and you know, we're we here down south are in no position to point fingers.
• 16:41
  SPEAKER_03: We've got some significant wildfires of our own that that have been difficult to manage and and to take care of this year already.
• 16:49
  SPEAKER_01: And and Davis, I think one of the things we need to refocus on a little bit is how I know it it gets the you know, the clicks and the views when politicians come on TV and talk about, hey, we gotta deal with this.
• 17:00
  SPEAKER_01: This is crazy.
• 17:00
  SPEAKER_01: And we need to get back to where, hey, there's wildfire, and and we have had this as of recently, where hey, there's a bad wildfire in Utah.
• 17:08
  SPEAKER_01: There's Canadian water bombers that come down to help.
• 17:11
  SPEAKER_01: I know Mexico is sending some resources into Canada to try to assist.
• 17:15
  SPEAKER_01: That's that's kind of what that's what we should be doing instead of make trying to make political wins.
• 17:20
  SPEAKER_01: And and there's some that hey, listen, there's some Canadian politicians that have been doing this as well on certain issues where they try to blow it up for their own benefit.
• 17:27
  SPEAKER_01: I think I think what really what people want is hey, let's how can we help solve this together and and fix this situation?
• 17:34
  SPEAKER_03: Yeah, yeah.
• 17:36
  SPEAKER_03: Well, very good.
• 17:37
  SPEAKER_03: Maybe uh something else that Canadian farmers share with U.S.
• 17:41
  SPEAKER_03: farmers.
• 17:42
  SPEAKER_03: I saw a reporter that Canada's farm bill was taking shape last week.
• 17:46
  SPEAKER_03: In the U.S., we have a heck of a time getting a new farm bill passed.
• 17:50
  SPEAKER_03: We had the one big beautiful bill that was, I guess, took care of a number of the provisions, but but I know that farmers would feel a lot more comfortable with a farm bill.
• 17:59
  SPEAKER_03: Like a, you know, can we get everything updated?
• 18:01
  SPEAKER_03: Can we get it put together?
• 18:03
  SPEAKER_03: And I'm just I'm just curious, maybe we can commiserate a little bit.
• 18:06
  SPEAKER_03: How is the the creation or the maintenance of of farm programs in Canada similar or or different from the United States?
• 18:15
  SPEAKER_03: Is that too is that too broad?
• 18:17
  SPEAKER_03: No, I can handle that how you want to.
• 18:18
  SPEAKER_01: Yeah, the desired outcomes are the same.
• 18:20
  SPEAKER_01: You know, there's income stabilization, trying to, you know, where is the investment going to be made?
• 18:25
  SPEAKER_01: What are some of the key priorities, all of those things?
• 18:28
  SPEAKER_01: So similar in that vein, different in how the sausage is made.
• 18:32
  SPEAKER_01: It doesn't go to parliament for different sides to negotiate like we would see in the U.S.
• 18:38
  SPEAKER_01: trying to get something through the house, you know, what the farm bill through the house, and now we're waiting for the Senate's version.
• 18:43
  SPEAKER_01: That doesn't happen in Canada.
• 18:44
  SPEAKER_01: The the equity framework, as it's called, is negotiated, it's it's a cost share agreement between the provinces, the feds, and also the territories.
• 18:53
  SPEAKER_01: And so it's really the first ministers, the agricultural ministers working with the federal minister to come up with what the deep what the broad objectives are as well as what the details are.
• 19:05
  SPEAKER_01: The agri stability component, which is that income stabilization, a farmer gets a loss.
• 19:10
  SPEAKER_01: There's a you know, some sort of insurance to backfill that.
• 19:14
  SPEAKER_01: That is a cost share between the provinces and the feds.
• 19:17
  SPEAKER_01: And so those ministers negotiated.
• 19:19
  SPEAKER_01: Last week in Halifax, they got together.
• 19:21
  SPEAKER_01: The current framework expires in 2028, so they're working on it, trying to have everything fixed by or ready for next July, where the meeting will be in Calgary.
• 19:31
  SPEAKER_01: It happens all behind closed doors.
• 19:33
  SPEAKER_01: This is one of the key differences that irritates me.
• 19:36
  SPEAKER_01: I appreciate the fact in the U.S.
• 19:38
  SPEAKER_01: when they're negotiating the farm bill, it's out in the open.
• 19:41
  SPEAKER_01: You know, you can hear how Senator Boozman feels, you can you can hear you know, Senator Fisher, you you know Amy Klobushar, you know where they stand and they provide their perspectives, and it's all out in the open.
• 19:53
  SPEAKER_01: That does not happen in Canada.
• 19:54
  SPEAKER_01: It's all happens behind closed doors.
• 19:57
  SPEAKER_01: And so it can become hard to figure out how the different stakeholders, what their opinions are.
• 20:01
  SPEAKER_01: I I appreciate, although the U.S.
• 20:04
  SPEAKER_01: has a hard time getting this across the finish line, I do appreciate how it's all in the out in the open and we know where the barriers are.
• 20:11
  SPEAKER_01: In Canada, that's much harder to uh to figure out.
• 20:15
  SPEAKER_03: So where uh where where we have a system here where maybe somebody tries to add something in as a provision that that holds the whole deal up and blows up the whole thing, well, we're we're just we can't vote for that if it's got that in it.
• 20:29
  SPEAKER_03: Do you have similar similar struggles up there, or do you even know because it's all done behind closed doors?
• 20:34
  SPEAKER_01: It's the latter.
• 20:35
  SPEAKER_01: It's the it's the latter.
• 20:36
  SPEAKER_01: I I honestly think that there's my my position is the they put out a letter last week, the ha they called it the Halifax statement coming out of the meeting.
• 20:44
  SPEAKER_01: And it's bland, it's just a keyword drop.
• 20:46
  SPEAKER_01: It's it's just a it sounds like a they hired an MBA student just to draft something.
• 20:50
  SPEAKER_01: It sounds, you know, here's our four key pillars, and and it's just blah.
• 20:55
  SPEAKER_01: It doesn't mean anything.
• 20:56
  SPEAKER_01: And you know, there's a lot of talk right now with some a lot of the uncertainty that's in the sector, the candidate needs to think big.
• 21:02
  SPEAKER_01: I'm not sure we actually met the moment, at least coming out of last week's last week's meeting.
• 21:06
  SPEAKER_01: I I I would appreciate more under more friction.
• 21:10
  SPEAKER_01: You know, iron sharpens iron, so to speak.
• 21:13
  SPEAKER_01: We don't have anything rubbing up against each other at all.
• 21:15
  SPEAKER_01: We we just have some sort of like you know, momentum is is you're you know, the some of the politicians came out of last week saying, Oh, we got lots of momentum, basically because they agreed to a bunch of words in a letter that don't mean anything at this point.
• 21:30
  SPEAKER_01: So I left last week pretty disappointed.
• 21:32
  SPEAKER_03: Are you suggesting you'd like to see politicians rubbing up against each other more often?
• 21:37
  SPEAKER_03: Is that what I'm hearing?
• 21:38
  SPEAKER_03: I put that in my notes here.
• 21:39
  SPEAKER_01: Yeah, yeah.
• 21:40
  SPEAKER_01: Well, we got to be careful with that based on some of the things that the shenanigans that happen in Ottawa and and uh places like DC.
• 21:47
  SPEAKER_01: But uh defin definitely some verbal friction would uh I think uh would assist in and and if you if you're gonna think big, you you you gotta have some people stretching the pot, you know, the the opportunity and and trying to bring people along.
• 22:02
  SPEAKER_01: And I just haven't heard that.
• 22:04
  SPEAKER_01: I uh I just haven't heard that aspiration.
• 22:06
  SPEAKER_03: Interesting.
• 22:07
  SPEAKER_03: Well, I appreciate your candor.
• 22:09
  SPEAKER_03: I really do.
• 22:10
  SPEAKER_03: Um before we really, really dig in, I just want to ask you a question that's on my mind.
• 22:15
  SPEAKER_03: What's your favorite Canadian city?
• 22:17
  SPEAKER_03: If you're gonna take a weekend away, maybe three or four days, just kind of get away and go chill out.
• 22:23
  SPEAKER_03: I mean, would you go to the woods?
• 22:25
  SPEAKER_03: Would you go to a city?
• 22:26
  SPEAKER_03: Let's just say if you were gonna go to a city, what city might you choose?
• 22:30
  SPEAKER_01: That's interesting.
• 22:32
  SPEAKER_01: Oh, you know, I think if I was to encourage anybody to check out, there's two there's two that come to mind.
• 22:39
  SPEAKER_01: One is Calgary, Alberta, whose sister city is probably like Denver.
• 22:43
  SPEAKER_01: It's very similar to Denver, up against the Rocky Mountains.
• 22:46
  SPEAKER_01: You are an hour from Banff, where people travel from across the world.
• 22:50
  SPEAKER_01: The the Rocky Mountains are spectacular.
• 22:53
  SPEAKER_01: Fastest growing city in in all of Canada.
• 22:56
  SPEAKER_01: And if you are going to take in Calgary, make sure you go you do it in early July.
• 23:00
  SPEAKER_01: You can go to the Calgary Stampede.
• 23:02
  SPEAKER_01: Very uh Alberta is very much kind of the Texas of Canada politically and kind of just in spirit.
• 23:09
  SPEAKER_01: And uh the other one would be just you know, kind of a flyer here.
• 23:11
  SPEAKER_01: We're talking about this before we came on the air.
• 23:13
  SPEAKER_01: Yeah, I honestly think Quebec City.
• 23:15
  SPEAKER_01: It is the it is one of the oldest cities in the entire country.
• 23:19
  SPEAKER_01: The city walls from like four or five hundred years ago are still up.
• 23:23
  SPEAKER_01: Oh, no kidding.
• 23:25
  SPEAKER_01: It's got an interesting, just really cool vibe.
• 23:28
  SPEAKER_01: And you can just imagine, if you close your eyes, just imagine the the formation of Canada and people coming in by boat and all those kinds of things.
• 23:37
  SPEAKER_01: It's it's a pretty cool spot.
• 23:38
  SPEAKER_03: You say the walls are still there.
• 23:40
  SPEAKER_03: I don't know if you know or not.
• 23:42
  SPEAKER_03: This might be a weird question, but what were they what were they walling out or or in when they uh well Indians would be one, and and two, you know the Brits.
• 23:53
  SPEAKER_01: Right?
• 23:53
  SPEAKER_01: They were they the there were city walls to prevent British invasion at at the at the time, right?
• 23:59
  SPEAKER_01: Canada was originally a a French and British colony, and uh that's a lot of the history, and there is still some friction there.
• 24:07
  SPEAKER_01: We're talking about friction earlier, that friction still kind of exists.
• 24:12
  SPEAKER_03: Very good.
• 24:12
  SPEAKER_03: Interesting.
• 24:13
  SPEAKER_03: The walls are still there.
• 24:14
  SPEAKER_03: Okay, now we're gonna get serious here.
• 24:16
  SPEAKER_01: Here's something just by the way, by the way, you're in Kansas City.
• 24:21
  SPEAKER_01: Kansas, I think Kansas, I tell people all this time, all that I tell people this all the time.
• 24:25
  SPEAKER_01: Kansas City, I think, is one of the most underrated cities.
• 24:29
  SPEAKER_01: I really enjoy it.
• 24:30
  SPEAKER_03: Thank you for that.
• 24:31
  SPEAKER_03: Thank you for saying that.
• 24:32
  SPEAKER_03: I think last time I saw you in person was was here in Kansas City.
• 24:37
  SPEAKER_03: As far as the worst of the wildfire smoke goes from anywhere, really, be it Canadian or be it from the western United States, the the barbecue smoke kind of blocks all of that out.
• 24:47
  SPEAKER_03: So we're just under a we're under a little barbecue bubble here.
• 24:50
  SPEAKER_03: It's nice.
• 24:51
  SPEAKER_01: And and I know the Chiefs are leaving Missouri and moving to Kansas, and the new stadium that's proposed, if you look at some of the pictures, there's it's going all over the internet.
• 25:01
  SPEAKER_01: It looks very much like the old Calgary Saddle Dome.
• 25:06
  SPEAKER_01: It's got a kind of a saddle top.
• 25:07
  SPEAKER_01: If you look at the hockey arena, the flames have been playing in since like the mid-80s.
• 25:12
  SPEAKER_01: Yeah.
• 25:12
  SPEAKER_01: Your football, your new football stadium looks a little bit like the Calgary Saddle Dome.
• 25:16
  SPEAKER_01: I think there's some maybe some architectural stealing going on there.
• 25:19
  SPEAKER_03: I've seen some pictures there.
• 25:21
  SPEAKER_03: I think the Chiefs are are I think the quarterbacks are showing up here like today or tomorrow, I heard.
• 25:27
  SPEAKER_03: They're gonna be getting going here before too long, for better or worse.
• 25:30
  SPEAKER_01: You know, I'm a huge passionate Chicago Bears fan, and my my boys are too, and uh, we are we are ready for the season.
• 25:39
  SPEAKER_03: Chicago's moving too, aren't they?
• 25:41
  SPEAKER_01: Aren't the Bears?
• 25:43
  SPEAKER_01: They're moving to Indiana.
• 25:44
  SPEAKER_01: Yeah.
• 25:45
  SPEAKER_01: The Indiana Bears, I think we're gonna be called uh from this point going forward.
• 25:49
  SPEAKER_01: Just because it's yeah, money talks.
• 25:52
  SPEAKER_03: Somebody told me, and this was someone had gone to Chicago and been on like a tour of the city or something like that on one of those buses, and they made mention of something that I'm just I may uh be about to show how stupid I am on some things, Sean.
• 26:08
  SPEAKER_03: But the uh basketball team is the Bulls, the football team is the Bears.
• 26:12
  SPEAKER_03: You've got the Bears and the Bulls there.
• 26:15
  SPEAKER_03: I wonder if they move out of Chicago proper if they can't be the the Bears anymore.
• 26:21
  SPEAKER_01: It makes me wonder.
• 26:22
  SPEAKER_01: I just I I saw somebody draft up yeah, I saw somebody draft up what a Chicago Bears helmet would look like with the eye on the side of it for for Indiana.
• 26:33
  SPEAKER_01: Not the same.
• 26:34
  SPEAKER_01: Yeah, not the same.
• 26:35
  SPEAKER_03: Yeah, yeah, that C has become iconic, hasn't it?
• 26:38
  SPEAKER_03: I had a Chicago Bears jacket when I was a kid.
• 26:40
  SPEAKER_03: It was my pride and joy.
• 26:43
  SPEAKER_03: All right, let's let's move on.
• 26:45
  SPEAKER_03: Here, here's another thing that that uh I learned that maybe people are like, duh.
• 26:50
  SPEAKER_03: I was watching some CBC, Canadian Broadcasting Company.
• 26:55
  SPEAKER_03: CBC.
• 26:56
  SPEAKER_03: Yep.
• 26:56
  SPEAKER_03: And they were talking about trade negotiations for what what I've always called the USMCA, but they referred to Cuzma.
• 27:08
  SPEAKER_03: Yeah.
• 27:09
  SPEAKER_03: Canadian US Mexico Agreement.
• 27:11
  SPEAKER_03: They're the same thing, right?
• 27:13
  SPEAKER_03: I hadn't heard that until just and then I see Wiesmeyer wrote about it the other day.
• 27:16
  SPEAKER_03: I wonder if he was watching the same broadcast I was.
• 27:18
  SPEAKER_01: Oh, well, be careful, be careful how much CBC you guys watch.
• 27:22
  SPEAKER_01: That could be uh that could be bad for your mind.
• 27:24
  SPEAKER_01: But uh yeah, and and actually in Mexico, they call it, I think they call it T-Mex in Mexico.
• 27:30
  SPEAKER_01: So all three countries in the same agreement all have their own name for it, which I don't totally understand.
• 27:38
  SPEAKER_01: Uh NAFTA we had for you know multiple decades, and we just all called it NAFTA, and now every each country wants to have their name at the front of it as if they're leading the charge.
• 27:47
  SPEAKER_01: Right, it's really kind of silly.
• 27:49
  SPEAKER_01: So in Canada, they do call it Kuzma.
• 27:50
  SPEAKER_01: A lot of times on the radio, because of the North American audience, I'll say, you know, with these USMCA Kuzma negotiations, I'll actually use both words to not confuse anybody.
• 27:59
  SPEAKER_03: Yeah, yeah, very good.
• 28:01
  SPEAKER_03: Well, trade section 338 tariffs are being called leverage.
• 28:06
  SPEAKER_03: I wonder if this is genuine leverage in in these renegotiations in Kuzma or Uzmuca, we call it here in the United States.
• 28:16
  unknown: Yeah.
• 28:17
  SPEAKER_01: You gotta you gotta be careful what where you put the emphasis of the vowels.
• 28:21
  SPEAKER_01: It's yeah.
• 28:21
  SPEAKER_03: Let's get them all in there.
• 28:22
  SPEAKER_03: Let's get them all in there.
• 28:24
  SPEAKER_03: From your view, from your view, what is the Trump administration perceived as trying to address here with these 338 tariffs?
• 28:30
  SPEAKER_03: Because, okay, I'm gonna pull from Weesmeyer here.
• 28:33
  SPEAKER_03: President Trump signed three block proclamations imposing an additional 50% duty on Canadian dairy, alcoholic beverages, and motor vehicles effective August 19.
• 28:44
  SPEAKER_03: Now, American farmers probably would argue that you can't get a crop to grow without Bush Light.
• 28:50
  SPEAKER_03: Is is getting American alcohol into Canada that that big of a deal that we gotta right in the middle of trying to renegotiate a North American agreement of trade.
• 29:02
  SPEAKER_03: I gotta be careful to make an acronym there that's not weird.
• 29:06
  SPEAKER_03: Is now the time for this?
• 29:07
  SPEAKER_03: What are we doing?
• 29:08
  SPEAKER_03: Is this leverage?
• 29:09
  SPEAKER_01: It is, I think it is leverage.
• 29:11
  SPEAKER_01: I I don't believe we're gonna see implementation of this in 30 days.
• 29:15
  SPEAKER_01: At least maybe that's my hope.
• 29:17
  SPEAKER_01: I think you know that a lot of the narrative in the U.S.
• 29:20
  SPEAKER_01: is that Canada hasn't been coming to the table as quickly as the U.S.
• 29:23
  SPEAKER_01: would like to see.
• 29:24
  SPEAKER_01: Mexico's been highly engaged in talks.
• 29:26
  SPEAKER_01: I also think that's a bit of a strategy.
• 29:28
  SPEAKER_01: If you pay attention to how the U.S.
• 29:30
  SPEAKER_01: treats Mexico versus Canada, at least in the media, they've been treated differently for a couple years now.
• 29:37
  SPEAKER_01: So I think this is trying to intensify those talks, as Prime Minister Carney has been talking about.
• 29:44
  SPEAKER_01: On the specifics, though, the U.S.
• 29:47
  SPEAKER_01: alcohol bans are a great example of where there is some flop to some of the Trump trade policy.
• 29:55
  SPEAKER_01: Okay.
• 29:55
  SPEAKER_01: And the there are two provinces that don't have the bans, the rest do.
• 30:00
  SPEAKER_01: It was all in response.
• 30:02
  SPEAKER_01: This whole thing started when President Trump talked about Canada being the 51st state.
• 30:07
  SPEAKER_01: The response was listen, if you want to try to take us over, then we don't want your alcohol.
• 30:12
  SPEAKER_01: And that, and and and that's where that all started.
• 30:15
  SPEAKER_01: It's a self-inflicted wound.
• 30:17
  SPEAKER_01: It was entirely unnecessary.
• 30:19
  SPEAKER_01: At the same time, I also think it's an easy give for the provinces to lift those bands because just because you lift the bands doesn't mean the any you know liquor companies are going to be importing the liquor from the U.S.
• 30:31
  SPEAKER_01: or in the wine because it's very geographical referenced, right?
• 30:34
  SPEAKER_01: We have Californian wines, we have Kentucky bourbon.
• 30:37
  SPEAKER_01: People know where those products come from.
• 30:40
  SPEAKER_01: And I there's some fences to be mended here.
• 30:43
  SPEAKER_01: I I know a couple people that import alcohol, and they said, even if we could import you know bourbon out of Kentucky, I'm not sure it's gonna sell because of how people feel about some of the narrative that was created by that 51st state.
• 30:57
  SPEAKER_01: And so that's a longer term, that's one that's got to be dealt with.
• 31:00
  SPEAKER_01: It's very unfortunate for the wine and spirit industry in the U.S., but it we're we are here because you know, somehow the drama that's played out.
• 31:09
  SPEAKER_03: Well, and it's you know, it's no wonder Canada does make a fine whiskey.
• 31:13
  SPEAKER_03: I can confirm at least at least that much.
• 31:16
  SPEAKER_03: It's it's interesting because I didn't want to bring up the whole 51st state thing because I I'd found it a little embarrassing, and maybe it was a joke that wasn't very funny, that kind of got out of hand, but some people really seized on it and and thought it was hilarious.
• 31:33
  SPEAKER_03: But I'm kind of hearing from you, Canadians and perhaps even Mr.
• 31:38
  SPEAKER_03: Carney are still kind of stinging from that, still a little pissed about it.
• 31:43
  SPEAKER_03: Is that fair?
• 31:44
  SPEAKER_01: Yeah, I I think a lot of Canadians have reacted in in that way, being kind of offended by, well, yeah, not kind of, but being offended by the fact that wait a minute, I know it's a joke, but this is like over the line, this is just over the top.
• 32:00
  SPEAKER_01: Said once one thing, but the continue the the longevity of those comments I think really did some some harm.
• 32:07
  SPEAKER_01: I understand for a lot of Americans, like, like he's joking, why are you taking this seriously?
• 32:12
  SPEAKER_01: Just imagine if you know Canada was talking that way.
• 32:14
  SPEAKER_01: You well, you'd probably laugh because Canada's not going to make US the 11th province.
• 32:19
  SPEAKER_01: But you can see how people would be defensive about it.
• 32:22
  SPEAKER_01: I do think at the spirit of it, there it was, it was kind of a joke that kind of went bad and you know it is unfortunate.
• 32:29
  SPEAKER_01: It has caused some harm in the relationship, especially on the eastern side of the country.
• 32:34
  SPEAKER_01: Ontario and Quebec have definitely the the feelings towards the U.S.
• 32:39
  SPEAKER_01: are definitely harsher there.
• 32:42
  SPEAKER_01: But if you look at it, uh all of all this trade war, uh provinces like Alberta and Saskatchewan, heavy, you know, oil energy producers, uh potash, that's it all comes out of Saskatchewan, less to lose.
• 32:55
  SPEAKER_01: The U.S.
• 32:55
  SPEAKER_01: needs Canadian potash, without question.
• 32:57
  SPEAKER_01: Yeah.
• 32:58
  SPEAKER_01: Where the eastern side of the country is more autos, steel and aluminum, you know, you can move an auto plant to the U.S.
• 33:06
  SPEAKER_01: from Canada, but you can't move a potash mine.
• 33:09
  SPEAKER_01: And so how the different regions of the country see this is is somewhat different.
• 33:15
  SPEAKER_03: It feels like Mark Carney has been maybe I'm completely off on this because I just hear bits and pieces, and I rarely trust what I hear on the TV, unless it's from the CBC.
• 33:25
  SPEAKER_03: Be careful, Davis.
• 33:27
  SPEAKER_03: Be careful.
• 33:27
  SPEAKER_03: I trust implicitly the uh Canadian broadcasters.
• 33:30
  SPEAKER_03: No, but it it feels like you know, with where Trump has been kind of he runs hot and cold, and you know, at one point, oh, we're very good friends, we had a very good conversation, and then you know, the the the whole relationship seems to sour, and now you know we've got tariffs, or we've got this, or we've got that, and then we're back to being friends again.
• 33:48
  SPEAKER_03: It feels like Mr.
• 33:48
  SPEAKER_03: Carney has has been fairly steady throughout the last couple of years here, the despite some crashing waves on either side.
• 33:57
  SPEAKER_03: Is that fair to say?
• 33:58
  SPEAKER_01: Yeah, I think so.
• 33:59
  SPEAKER_01: You know, he he comes from he was a central banker, so he was the head of the Bank of Canada, head of the Bank of England.
• 34:04
  SPEAKER_01: He's the only person actually to hold uh multiple central bank positions in in the G7.
• 34:09
  SPEAKER_01: I think it's a good description.
• 34:11
  SPEAKER_01: He's he has some political complexities back home, right?
• 34:14
  SPEAKER_01: President Trump got him elected.
• 34:17
  SPEAKER_01: The Canadian election happened all at the same time as the 51st state stuff.
• 34:21
  SPEAKER_01: He he uh Kearney going into the calling election was down by like 25 points behind Pierre Polyev, the conservative leader.
• 34:31
  SPEAKER_01: And President Trump does the whole 51st state stuff.
• 34:33
  SPEAKER_01: Uh the conservatives are looked upon to be Trump lovers.
• 34:37
  SPEAKER_01: And boom, Mark Carney uh closes the gap, becomes prime minister.
• 34:42
  SPEAKER_01: Currently, he has a majority in in the House.
• 34:46
  SPEAKER_01: I think one of the one of the factors here is the fact that on this is that he he knows he needs to deal with the U.S.
• 34:55
  SPEAKER_01: Canada is heavy reliant on U.S.
• 34:57
  SPEAKER_01: trade, but a lot of Canadians want to hear his phrase is elbows up, right?
• 35:01
  SPEAKER_01: The old hockey reference.
• 35:02
  SPEAKER_01: You know, we're not gonna be pushed around, we're gonna get those elbows up.
• 35:05
  SPEAKER_01: He hasn't exactly acted very elbows up because he has conceded on some of these issues.
• 35:11
  SPEAKER_01: And the bridge the the Gordy Howe bridge was a good example two weeks ago, really, you know, kind of giving in.
• 35:16
  SPEAKER_01: And I understand why.
• 35:18
  SPEAKER_01: You know, Canada invested billions of dollars in this bridge.
• 35:21
  SPEAKER_01: They need it to be open.
• 35:22
  SPEAKER_01: It's good for the Canadian economy, it's good for the U.S.
• 35:25
  SPEAKER_01: economy, but it may not be popular with a lot of Canadians that wanted to see that elbows up Mark Carney instead of the kind of lady bing Mark Carney there for your for the NHL hockey reference.
• 35:37
  SPEAKER_03: Well, that and I'm not gonna dwell on this, but I have a new appreciation for how un inconsequential that 51st state remark was.
• 35:47
  SPEAKER_03: It's still echoing till today, obviously.
• 35:50
  SPEAKER_03: Man, that was uh that's really interesting, very eye-opening.
• 35:53
  SPEAKER_03: Just a couple of more questions, and then uh then we're gonna have some fun, and then I'm gonna cut you loose because it is Friday.
• 35:58
  SPEAKER_03: I mean, let's not work late on a Friday if we can help it, is kind of where I'm at.
• 36:02
  SPEAKER_03: Trade relations with Canada and China seems a little bit sketchy for me, seems a little tit for tat.
• 36:08
  SPEAKER_03: Can you can you run down some of that relationship for our viewers, please?
• 36:12
  SPEAKER_01: Yeah, for sure.
• 36:13
  SPEAKER_01: So there's really not a lot of difference between what Canada is doing with China versus what the US is doing with China.
• 36:19
  SPEAKER_01: It's an important China's an important purchaser of agricultural commodities.
• 36:24
  SPEAKER_01: Just like President Trump negotiated 25 million metric ton, plus that additional 17 billion that uh China has committed to, Mark Carney really did no different for the most part.
• 36:35
  SPEAKER_01: You know, they got a reduction in the tariffs on peas, reduction, sorry, on beef.
• 36:40
  SPEAKER_01: Uh they got the reduction in tariffs on canola.
• 36:42
  SPEAKER_01: That's one of the reasons why canola has really lifted here through the springtime period, because there is a lot of opportunity for Canadian canola to go to China.
• 36:49
  SPEAKER_01: The sensitive part, and I'm gonna be very interested to see how Kearney handles this, is I don't think they're getting closer to China.
• 36:57
  SPEAKER_01: I think they're trying to show the U.S.
• 36:59
  SPEAKER_01: they have options because Canada and Canada is really in the is the meat, or maybe a bit of a pawn, in this China-U.S economic battle, who's gonna be the number one economy, right?
• 37:11
  SPEAKER_01: These are two economic giants.
• 37:12
  SPEAKER_01: Canada's economy is nowhere near the size of either of those two countries.
• 37:16
  SPEAKER_01: And it's kind of got it, it's used as a bit of a chess piece back and forth.
• 37:20
  SPEAKER_01: China cuddles up to Canada and and and does some nice things, mainly to make the U.S.
• 37:25
  SPEAKER_01: mad, I think, in some cases.
• 37:27
  SPEAKER_01: And Canada is trying to diversify its trade, and so it's kind of caught in the middle of these two of these two entities.
• 37:34
  SPEAKER_01: The sensitive piece is the fact that Carney has agreed to allow the importation of 30,000 EVs per year and the potential for China to build some in JVs, some auto plants in Canada.
• 37:49
  SPEAKER_01: That's where it's super sensitive.
• 37:51
  SPEAKER_01: And that's I'm gonna be very interested to see as we get deeper into these USMCA Kuzma talks.
• 37:57
  SPEAKER_01: Will Kearney stick with that?
• 37:58
  SPEAKER_01: You know, I've had a conversation uh with uh one of the automakers, they're one of their head lobbyists in Canada, and they think that you know the Prime Minister is crazy to be doing this.
• 38:08
  SPEAKER_01: It's really jeopardizing that North American auto pact where we have you know Michigan and on Ontario, the two major automaking uh regions.
• 38:17
  SPEAKER_01: One vehicle may cross seven times fourth.
• 38:21
  SPEAKER_01: And if there is any risk any you know further restriction and the ability for that trade to happen, it's gonna create it's gonna add to the cost of vehicles.
• 38:28
  SPEAKER_01: And and I I think in this fortress North America ring fence concept, I don't think long-term Canada is gonna be able to import these EVs, and and some would argue nor should they, but we'll have to see how Carney steers through that.
• 38:41
  SPEAKER_01: But are they getting closer to China like I've heard in some of the media reports?
• 38:45
  SPEAKER_01: I don't think so, because there's a long proven track record here of Canada and China being friends on, friends off, friends.
• 38:51
  SPEAKER_01: Like it's it is China kidnapped two Canadians for like three years, uh, not too long ago, man.
• 38:57
  SPEAKER_01: They're they're not exactly best of friends.
• 38:59
  SPEAKER_03: Is there gonna be demand for for 33, what is it, 33,000 electric vehicles a year?
• 39:06
  SPEAKER_03: If Canadians want to drive electric vehicles, I don't know if they're all that popular anymore here in the US.
• 39:11
  SPEAKER_01: Maybe some of the big yeah, hybrids are a big deal.
• 39:14
  SPEAKER_01: Like I think there's a huge opportunity for hybrids, and and Weesmeier will attest to that.
• 39:18
  SPEAKER_01: I saw what he's driving.
• 39:20
  SPEAKER_01: I need his kind of paycheck.
• 39:21
  SPEAKER_01: That that dude is rolling in a nice one, man.
• 39:25
  SPEAKER_01: I'll tell you what.
• 39:26
  SPEAKER_01: But in the major cities, yes, but the trouble is is EVs lose their battery life, you know, in some of the cold weather.
• 39:33
  SPEAKER_01: And even in the biggest cities like Toronto, it gets it gets pretty cold.
• 39:36
  SPEAKER_01: Maybe in Vancouver there's more of a market.
• 39:38
  SPEAKER_01: I I think the EV market is really cooled off in Canada, just like it has for the same reasons in the U.S.
• 39:43
  SPEAKER_03: Yeah, yeah.
• 39:44
  SPEAKER_03: Very good.
• 39:45
  SPEAKER_03: Well, speaking of cooling off, let's uh let's talk about the weather just a little bit.
• 39:52
  SPEAKER_03: I appreciate your candor on on all of these.
• 39:54
  SPEAKER_03: I could pick your brain for days on end.
• 39:57
  SPEAKER_03: I'm I'm fascinated by what we've talked about today.
• 40:00
  SPEAKER_03: And in the past, I've been fascinated by our conversations.
• 40:03
  SPEAKER_03: I hope we can have more again.
• 40:06
  SPEAKER_03: Just out your window right now.
• 40:08
  SPEAKER_03: Tell us tell us roughly where you're at and what are current conditions like up there, weather-wise.
• 40:13
  SPEAKER_01: Out your it is probably 85 to 90 degrees today.
• 40:19
  SPEAKER_01: I'm just at the top left-hand corner of that map.
• 40:24
  SPEAKER_01: So that's that's where I am in the in the BC uh Rock Kootenie Valley.
• 40:27
  SPEAKER_01: A little bit of agriculture around here, but not too many.
• 40:29
  SPEAKER_01: I got we know where we're at the lake.
• 40:31
  SPEAKER_01: When I when I look at this map, you know, I was talking about western Canadian prairies needing a shot of rain.
• 40:36
  SPEAKER_01: I don't see any shots of rain on this map, Davis.
• 40:40
  SPEAKER_01: Nor, yeah, nor in the I was talking to a farmer yesterday from northeastern Montana.
• 40:44
  SPEAKER_01: Same sort of story.
• 40:45
  SPEAKER_01: Need some rain.
• 40:46
  SPEAKER_01: And I don't see it on the map.
• 40:47
  SPEAKER_01: I see it more in the mountain regions of Montana than in some of the growing regions.
• 40:51
  unknown: Yeah.
• 40:52
  SPEAKER_03: Well, according to the National Weather Service here in the States, flash flooding threatens areas from the Tennessee Valley to the Carolinas as storms repeat along a stalled front.
• 41:01
  SPEAKER_03: Monsoonal storms may trigger some flooding in the southwest.
• 41:05
  SPEAKER_03: Dangerous heat expands across the desert southwest plains, mid-Misissippi Valley, and the southern tier.
• 41:10
  SPEAKER_03: Critical fire weather for interior Pacific Northwest and cooler, drier air brings brief relief to the Great Lakes and the Northeast.
• 41:19
  SPEAKER_03: But uh, I think it's probably going to get hot again, gang, if the forecast models are right sometime next week.
• 41:25
  SPEAKER_03: Sean, um, before I cut you loose, just a couple of more items.
• 41:28
  SPEAKER_03: Can I interest you in some items of mild interest?
• 41:31
  SPEAKER_03: Yeah.
• 41:32
  SPEAKER_03: You ready to be mildly interested?
• 41:34
  SPEAKER_03: Yeah.
• 41:35
  SPEAKER_03: All right, today is July 24, 2026.
• 41:39
  SPEAKER_03: July 24 in 1935, the Dust Bowl heat wave reached its peak with temperatures of 43 degrees Celsius in Chicago, Illinois, and 40 degrees Celsius in Milwaukee, Wisconsin, respectively.
• 41:53
  SPEAKER_03: That's 109 degrees Fahrenheit and 104 degrees in Millie Owake.
• 42:00
  SPEAKER_03: Uh, it's the birthday in 1949 of Michael Richards, American actor and comedian.
• 42:06
  SPEAKER_03: Uh, started on Fridays with Larry David and others, UHF with Weird Al and of course uh Kramer on Seinfeld.
• 42:13
  SPEAKER_03: In 1964, Barry Bonds, American baseball player, was born.
• 42:17
  SPEAKER_03: Most career home runs, most home runs in a single season, and most career walks.
• 42:22
  SPEAKER_03: And here in the States, Sean, apparently, uh, according to popculture.com, it's uh tell an old joke day.
• 42:30
  SPEAKER_03: Now, something that I've started doing on this program because nobody's stopping me is with each guest I offer some form of injustice.
• 42:38
  SPEAKER_03: And the form that takes is I ask them a question that I am unable to answer myself.
• 42:43
  SPEAKER_03: I mean, I know the answer, but only because I looked it up on the interwebs.
• 42:47
  SPEAKER_03: But uh, I would love to inflict today's Ag Bull injustice on you now.
• 42:53
  SPEAKER_01: Are you ready to be uh I don't think I I don't think I'm ready for the injustice question of the day, but uh shoot, you have have at it here.
• 43:01
  SPEAKER_03: All right, it as I said, it's uh in in the states, it's it's tell an old joke day somehow.
• 43:09
  SPEAKER_03: National tell an old joke day.
• 43:11
  SPEAKER_03: So here's here's my joke, and I just wonder if you can get the punchline.
• 43:16
  SPEAKER_03: Why did Karl Marx write in all lowercase letters?
• 43:23
  SPEAKER_03: Why did Karl Marx write in all lowercase letters?
• 43:29
  SPEAKER_01: Uh does it have something to do with the word capital?
• 43:32
  SPEAKER_03: I it it does.
• 43:33
  SPEAKER_03: I'm gonna give you credit for that.
• 43:35
  SPEAKER_03: Uh, because he hated capitalism.
• 43:38
  SPEAKER_03: Oh I'm gonna call that a success.
• 43:41
  SPEAKER_03: Although it's still very unjust of me, really, even to ask at all.
• 43:45
  SPEAKER_03: I I don't feel right about it.
• 43:47
  SPEAKER_01: But that that prior picture you had on there?
• 43:50
  SPEAKER_01: Yeah, let's have that back.
• 43:52
  SPEAKER_01: Yeah, no, to go back, there was the weather one, the very first one.
• 43:55
  SPEAKER_01: Oh, yeah, yeah.
• 43:56
  SPEAKER_01: Kate, that reminds me of uh yeah, the the dust storm.
• 44:01
  SPEAKER_01: That reminds me of last August, I was in Phoenix and we we experienced a haboob, which is like an Arabian dust storm.
• 44:10
  SPEAKER_03: I thought that was a word that Tyne Morgan made up that she was going to try and get me to say on the radio back in the day.
• 44:16
  SPEAKER_03: I'm like, that's not even a word.
• 44:18
  SPEAKER_03: But apparently it is.
• 44:19
  SPEAKER_01: So you're real.
• 44:20
  SPEAKER_01: It's real.
• 44:22
  SPEAKER_01: And I told Eric Snodgrass that I uh from the meteorologist with Nutrient, I told Eric that I was at I was in Phoenix for that haboob, and he was like, Do you have pictures?
• 44:32
  SPEAKER_01: Like he was just like, You live through a haboob.
• 44:35
  SPEAKER_01: But it's exactly what it that's what it looked like coming over the Santan Mountains into Southern Phoenix.
• 44:42
  SPEAKER_01: It was crazy.
• 44:45
  SPEAKER_03: I like Eric Snodgrass a lot too.
• 44:46
  SPEAKER_03: Have you?
• 44:47
  SPEAKER_03: I'm sure you've seen his presentations.
• 44:48
  SPEAKER_03: I I understand why he wanted the pictures.
• 44:51
  SPEAKER_03: It's a very visual presentation that he puts on.
• 44:55
  SPEAKER_03: Maybe not of Karl Marx, but you know, other other pictures.
• 44:58
  SPEAKER_03: We're gonna get we're gonna get Eric on, actually.
• 45:00
  SPEAKER_03: I was just emailing with him the other day.
• 45:02
  SPEAKER_03: I think uh I think we can I think we can trick him into coming on the show.
• 45:06
  SPEAKER_03: I'll ask him an equally unjust question.
• 45:09
  SPEAKER_03: Don't worry.
• 45:09
  SPEAKER_03: Every everybody gets the same injustice.
• 45:12
  SPEAKER_03: Sean, is there anything else before we uh put a lid on our conversation?
• 45:16
  SPEAKER_03: I mean, doggone it, thanks so much for being on.
• 45:19
  SPEAKER_03: Like I said, thank you for your candor.
• 45:21
  SPEAKER_03: I I learn things every every time that I talk to you.
• 45:23
  SPEAKER_03: I learn things about my own country every time that I talk to you, brother.
• 45:27
  SPEAKER_03: RealAgriculture.com.
• 45:29
  SPEAKER_03: Anything else you want to get out there before we uh turn out the lights?
• 45:32
  SPEAKER_01: Yeah, I just want to say to everybody, hey, check out uh the real ag radio podcast.
• 45:36
  SPEAKER_01: You can get you know find it wherever you get your podcasts.
• 45:38
  SPEAKER_01: And if you ever see me speaking at an event that you're at, please uh come and say hello and love love uh the opportunity to be able to speak to audiences really across the continent and just want to wish everybody the best here in the rest of 2026 growing season.
• 45:51
  SPEAKER_01: We still got some challenges.
• 45:52
  SPEAKER_01: Rust in like parts of Iowa, Nebraska.
• 45:55
  SPEAKER_01: Like, there's we're we're not out of this yet.
• 45:57
  SPEAKER_01: We got to get this crop in the bin, and just best wishes to everybody.
• 46:02
  SPEAKER_03: The Alberta Breeze himself, Sean Haney from Real Agriculture and Real Ag Radio.
• 46:07
  SPEAKER_03: Well, thanks for being with us, everyone, today for this Friday edition of Ag Squawk in the Afternoon.
• 46:13
  SPEAKER_03: Uh, real quick, thanks to Trade the News.
• 46:15
  SPEAKER_03: We use TradeThe News to keep us on top of the news that moves the markets, trade the news.
• 46:20
  SPEAKER_03: It's actually real news in a world where news is sketchy at best.
• 46:25
  SPEAKER_03: Trade the news, that's trade the news.
• 46:27
  SPEAKER_03: And if you haven't had a chance, go to Agbol.com and check out all the lavish premium services that we've got for you.
• 46:33
  SPEAKER_03: Visit Agbol.com or call 855-737 Farm.
• 46:38
  SPEAKER_03: Visit Real Agriculture Radio while you got your interwebs all up there too.
• 46:41
  SPEAKER_03: And look for Sean Haney.
• 46:43
  SPEAKER_03: Jed Sidwell will set you up bright and early Monday morning, and then I'll have a conversation with Dan Huber from the Huber Report Monday afternoon.
• 46:50
  SPEAKER_03: Have a safe and happy weekend, everyone.
• 46:53
  SPEAKER_03: Appreciate you being here.
• 46:54
  SPEAKER_03: See you next week for more Egg Squawk.