Latest / AG Bull / AG Squawk AM 7/21/2026 | Crop Progress, Spring Wheat Shock, And A Cattle Rebound

Transcript

AG Squawk AM 7/21/2026 | Crop Progress, Spring Wheat Shock, And A Cattle Rebound · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:12
  SPEAKER_00: Jed Sidwell here with Ag Bull Media.
• 0:14
  SPEAKER_00: We're a financial channel that loves agriculture.
• 0:18
  SPEAKER_00: Today we're going to talk about that crop progress report that came out yesterday.
• 0:22
  SPEAKER_00: And we have some news out of Canada.
• 0:24
  SPEAKER_00: And no, it's not the wildfire smoke.
• 0:27
  SPEAKER_00: We'll get to all of that here in a bit of big day in the livestock.
• 0:42
  SPEAKER_00: Yesterday, live cattle and feeder cattle saw a much needed bounce upward.
• 0:47
  SPEAKER_00: Lives were at$2.26.5 up$2.10.
• 0:51
  SPEAKER_00: That's the August contract.
• 0:53
  SPEAKER_00: Feeder cattle, big day up, would have approached what would have been the old limits, the new limits they didn't get to yet, but they were still up six bucks at$3.52.
• 1:05
  SPEAKER_00: Even lean hogs in the front months saw a slight downward movement at 38 cents at$101.28.
• 1:15
  SPEAKER_00: Well, on to the weather for today.
• 1:17
  SPEAKER_00: This is our 120-hour chart brought to us by Mr.
• 1:20
  SPEAKER_00: Craig Solberger, in-house meteorologist here at Nesvik Trading.
• 1:24
  SPEAKER_00: And there's kind of a mixed bag once again throughout the United States.
• 1:28
  SPEAKER_00: We're going to see a cooler one to five day period, though, highs in the 70s throughout the southwestern Corn Belt, Central Plains at the late Wednesday and Friday.
• 1:39
  SPEAKER_00: So a nice little cool off there.
• 1:41
  SPEAKER_00: While Michigan, Wisconsin, Northern Indiana, and Illinois will kind of miss out on some of the rains, even though the Ohio Valley is looking to get quite a bit.
• 1:52
  SPEAKER_00: The really interesting weather is coming out of the tropical storm Bertha.
• 1:58
  SPEAKER_00: That's that big yellow dot there beneath the southern states and Florida.
• 2:04
  SPEAKER_00: It's really people were really excited for this tropical storm, which is kind of ironic to say, but the South's been remarkably dry, especially South Carolina and some places like that.
• 2:15
  SPEAKER_00: Bertha didn't turn out to be as big as we thought Bertha was going to be and didn't maybe produce the rains they were hoping for.
• 2:22
  SPEAKER_00: Yesterday's crop progress report came out, and there was a lot of things to read in it that showed that good to excellent corn went down a point at 67%.
• 2:32
  SPEAKER_00: Beans were up a point at 66%.
• 2:35
  SPEAKER_00: The really one big one that changed that I thought we would talk about, because we don't always talk about spring wheat, was the spring wheat states.
• 2:44
  SPEAKER_00: Montana specifically saw a huge change.
• 2:47
  SPEAKER_00: It dropped eight points to 25%.
• 2:50
  SPEAKER_00: Now the lowest rated state that produces spring wheat.
• 2:55
  SPEAKER_00: Idaho and North Dakota both fell seven points to 58%, and South Dakota declined six points to 42%.
• 3:02
  SPEAKER_00: The whole area dropped five points to 53% overall.
• 3:08
  SPEAKER_00: That's good to excellent.
• 3:10
  SPEAKER_00: That's the main category we look at there.
• 3:13
  SPEAKER_00: 5% is a is a fairly large swing when we're talking about an area that isn't nearly as vast as the corn belt or the bean belt or anything like that.
• 3:23
  SPEAKER_00: So make sure and uh pay attention to the spring wheat markets here next couple of days.
• 3:30
  SPEAKER_00: This is the news out of Canada that I'd like to talk about.
• 3:33
  SPEAKER_00: And some of you probably have heard a little bit about it already.
• 3:36
  SPEAKER_00: Trump is imposing 50% tariffs on certain Canadian goods over alleged trade discrimination.
• 3:43
  SPEAKER_00: This comes after he's been kind of, you know, talking some smack to Canada over the smoke that's been coming across our borders from their wildfires, claiming that they're polluting our air.
• 3:56
  SPEAKER_00: The tariff falls under the rarely used section 338 of the tariff act of 1930.
• 4:03
  SPEAKER_00: The three reason we're gonna bring this up on ag squawk is that the tariff is most likely to affect motor vehicles, but then alcohol and dairy as well, agricultural products.
• 4:17
  SPEAKER_00: So what that'll do to know, you know, class three milk, the price of barley and wheat, it should have some sort of effect because you know the Canadians use a lot of our products.
• 4:29
  SPEAKER_00: We're where they're one of our biggest trading allies.
• 4:32
  SPEAKER_00: So a lot of our agricultural good goods head up north of our border.
• 4:38
  SPEAKER_00: On the economic calendar for today, the ADP weekly employment change is coming out right as I'm speaking right now at 7 15 a.m.
• 4:47
  SPEAKER_00: So make sure to pay attention to that.
• 4:49
  SPEAKER_00: And then this afternoon, we're gonna have Mr.
• 4:51
  SPEAKER_00: Davis Michelson on again with Ag Squawk P.M.
• 4:55
  SPEAKER_00: He's been doing a heck of a job with his shows recently.
• 4:58
  SPEAKER_00: He talked to Brian Grady yesterday.
• 5:00
  SPEAKER_00: Like, Jed, you forgot to talk about cattle today.
• 5:03
  SPEAKER_00: They saw that big upward swing yesterday, and you didn't mention them very much.
• 5:08
  SPEAKER_00: That's because I'm going to have a heck of a conversation with Mr.
• 5:12
  SPEAKER_00: Mike Sands this afternoon on our Fat Tuesday show.
• 5:17
  SPEAKER_00: It is the best cattle show every week you can listen to.
• 5:20
  SPEAKER_00: And I'm not saying that because of me, it's because of the value Mr.
• 5:23
  SPEAKER_00: Mike Sands brings to every single episode.
• 5:27
  SPEAKER_00: We might even push this one public if you're lucky.
• 5:30
  SPEAKER_00: So make sure to look on all channels for Ag Squawk.
• 5:34
  SPEAKER_00: You can get or on for Fat the Fat Tuesday show with Mr.
• 5:37
  SPEAKER_00: Mike Sands.
• 5:38
  SPEAKER_00: It's on our website every week at www.agbull.com.
• 5:43
  SPEAKER_00: Well, thanks for watching.
• 5:45
  SPEAKER_00: Thanks for listening.
• 5:46
  SPEAKER_00: It's always great to talk to you so early in the morning.
• 5:48
  SPEAKER_00: I look forward to it every day.
• 5:50
  SPEAKER_00: I'm with Ag Bull Media.
• 5:52
  SPEAKER_00: We're a financial channel that loves agriculture.