Latest / AG Bull / AG Squawk AM 10/20/2026 with Jed Sidwell | Trump's Giving us Diesel?

Transcript

AG Squawk AM 10/20/2026 with Jed Sidwell | Trump's Giving us Diesel? · AG Bull

• 0:09
  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: Today we have some breaking news, a truth social post that affects farmers and the price of fuel.
• 0:23
  SPEAKER_00: Not to mention, we have USDA crop progress things, cattle areas in drought, and news from GM Motors.
• 0:30
  SPEAKER_00: We'll get to all of that and more here in a bit.
• 0:50
  SPEAKER_00: The front month was down around 33 cents at 228.03.
• 0:54
  SPEAKER_00: Feeder cattle were up two bucks, though, at 343.93.
• 0:59
  SPEAKER_00: And lean hogs came back down just a little bit, down 58 cents at 66.35.
• 1:04
  SPEAKER_00: As I quote the grain markets here live, like to shout out our sponsor, plus 500.
• 1:08
  SPEAKER_00: We use plus 500 T4 trading software to quote the markets every single day.
• 1:13
  SPEAKER_00: And as I look here, the December corn track up just a little bit overnight at 467 and a quarter.
• 1:19
  SPEAKER_00: November soybeans are ticking down a little bit lower, but still higher overnight at 1256 and a half.
• 1:25
  SPEAKER_00: In December, Chicago wheat continuing that uptrend at 66 at$6.60 and three quarters.
• 1:35
  SPEAKER_00: As we look towards the weather, we have some optimism there.
• 1:38
  SPEAKER_00: There's going to be no rain east of the Rockies through Friday, which means there's going to be a big harvest push in the eastern corn belt, mid-south, and southeast.
• 1:48
  SPEAKER_00: There's going to have really no rain chance there until Halloween.
• 1:53
  SPEAKER_00: On the flip side of this, though, we're going to see some record warmth possibly from Friday.
• 1:58
  SPEAKER_00: From Thursday until Saturday, there's the possibility of being 10 to 20 degrees higher than the normal across northern the northern plains, the western and northwestern cornbelt.
• 2:09
  SPEAKER_00: This is the headline that we had to pop on this morning, and it is a big one.
• 2:13
  SPEAKER_00: It comes out of a campaign rally in Kansas, but it got announced on Truth Social and all of the social medias as well.
• 2:21
  SPEAKER_00: Trump announces$8 billion for farmers to offset soaring diesel costs.
• 2:27
  SPEAKER_00: The$8 billion aid package that was released on Monday is to help U.S.
• 2:32
  SPEAKER_00: farmers pay for diesel prices this harvest season.
• 2:36
  SPEAKER_00: The relief program announced at the campaign rally in Kansas and on social media aims to bring down fuel costs for Americans ahead of next month's midterm election.
• 2:47
  SPEAKER_00: You know, this might just kind of seem like an election ploy, and maybe it is, but it's undeniable that fuel prices have been directly affecting us all.
• 2:58
  SPEAKER_00: And it is concerning when the government says that they're here to help.
• 3:02
  SPEAKER_00: But man, we could probably use just a little bit help right of help right now because these fuel costs are almost unsustainable.
• 3:10
  SPEAKER_00: Looking towards the grain market, we got some crop progress numbers out yesterday, and we've been saying for a while that it's been hard to get information from the combines because we're behind our pace when it comes to harvest.
• 3:26
  SPEAKER_00: Well, as we look at this here, as a country, we're kind of on pace.
• 3:30
  SPEAKER_00: We're only one percentile behind the five-year average, which is fairly good considering this year.
• 3:36
  SPEAKER_00: But Iowa and Nebraska, whoo, they're struggling.
• 3:39
  SPEAKER_00: Iowa is 17% behind the average, and Nebraska 19% behind the average.
• 3:46
  SPEAKER_00: That's a big, big jump there.
• 3:49
  SPEAKER_00: Hopefully, that we can continue to see this kind of exponential gain they've had in harvest.
• 3:55
  SPEAKER_00: That previous report, they were only at 5 and 9% harvested.
• 4:00
  SPEAKER_00: So this next one, hopefully, they're all caught up there, and we can get some better numbers from those key soybean states.
• 4:07
  SPEAKER_00: These are the livestock areas in drought, and I often bring this chart on.
• 4:11
  SPEAKER_00: I think it's really important to look at because of just this year that we have had.
• 4:16
  SPEAKER_00: It has been dry in cattle country.
• 4:18
  SPEAKER_00: The red areas there are the areas that affected drought.
• 4:22
  SPEAKER_00: The green areas are major cattle areas, the dark green are highly concentrated cattle areas.
• 4:28
  SPEAKER_00: And as we look at it, it's still not the greatest picture for 2026.
• 4:33
  SPEAKER_00: But that 47 number down there, 47% of cattle areas in drought, that was higher at one point.
• 4:38
  SPEAKER_00: We were in the 60s range, and so it's improv good to see that Iowa, northern Missouri, Kansas, parts of Nebraska are doing better than they were.
• 4:48
  SPEAKER_00: I'm interested to see how Oklahoma looks on this map when we get an updated one from those rains that they've received here recently.
• 4:57
  SPEAKER_00: General Motors steals the headline today.
• 5:00
  SPEAKER_00: General Motors beats Wall Street's Q3 earnings expectations.
• 5:05
  SPEAKER_00: Uh the Detroit Automaker announced its cat its free cash flow expectations and narrowed its 2026 full-year guidance.
• 5:14
  SPEAKER_00: GM also announced a new multi-year stock buyback of$20 billion.
• 5:19
  SPEAKER_00: That's with a B, but didn't give a specific time frame for the repurchase.
• 5:25
  SPEAKER_00: I was interested to see how automakers would do this year with you know the supply chain restrictions that they've probably had, not to mention fuel prices affecting directly their customer base.
• 5:38
  SPEAKER_00: But it seems to be that GM has kept up with it, which is important to see.
• 5:43
  SPEAKER_00: Uh that if the automaker is doing decent, that kind of takes a pulse on the country to see how we're doing.
• 5:51
  SPEAKER_00: You know, it's maybe just a bit more optimistic than what we were thinking for 2026.
• 5:55
  SPEAKER_00: Maybe it's a shining light at the end of the tunnel.
• 5:59
  SPEAKER_00: Here's the economic calendar for today.
• 6:01
  SPEAKER_00: The ADP weekly employment change comes out at 17 a.m.
• 6:06
  SPEAKER_00: Already came out.
• 6:07
  SPEAKER_00: Uh as I'm speaking right now, the housing starts and building permits comes out at 7:30 a.m.
• 6:13
  SPEAKER_00: Central.
• 6:13
  SPEAKER_00: And the pending home sales comes out at 9.
• 6:17
  SPEAKER_00: That's all I have for you today, folks.
• 6:19
  SPEAKER_00: Thank you for watching and thank you for listening.
• 6:21
  SPEAKER_00: Make sure and check out Davis's show that he did yesterday with Bubba.
• 6:27
  SPEAKER_00: I encourage you to go watch it.
• 6:29
  SPEAKER_00: Maybe one of the most entertaining episodes we've ever had.
• 6:31
  SPEAKER_00: The dude is incredibly passionate about what he talks about, especially when it comes to the markets.
• 6:37
  SPEAKER_00: There was a lot of good content in there.
• 6:40
  SPEAKER_00: I personally was sitting in the background clicking the show and really enjoyed it.
• 6:44
  SPEAKER_00: So go watch that one.
• 6:46
  SPEAKER_00: We have a lot of content coming out.
• 6:47
  SPEAKER_00: That Fat Tuesday show with Mike Sands will be coming out today or tomorrow.
• 6:51
  SPEAKER_00: So stay tuned for that.
• 6:52
  SPEAKER_00: And premium subscribers, you'll get texted the link to that.
• 6:55
  SPEAKER_00: And if you're on the premium side, make sure and check out all the things we have on our website.
• 6:59
  SPEAKER_00: And if you're not there, I encourage you to go over$25 a month or$2.50 annually.
• 7:04
  SPEAKER_00: The list of things that come with a premium subscription are really, really long.
• 7:08
  SPEAKER_00: That's all I have for today.
• 7:09
  SPEAKER_00: I'm Jed Sidwell with AgBull Media.
• 7:12
  SPEAKER_00: We're a financial channel that absolutely loves agriculture.
• 7:15
  SPEAKER_00: Have a great day.