Latest / AG Bull / AG Squawk AM 9/16/2026 with Jed Sidwell | Diesel Prices Quietly Set The Tone For Grains Today

Transcript

AG Squawk AM 9/16/2026 with Jed Sidwell | Diesel Prices Quietly Set The Tone For Grains Today · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:13
  SPEAKER_00: Jed Sidwell here, live from Juliet, Illinois.
• 0:16
  SPEAKER_00: Today on this fine Wednesday morning, we're going to be talking about Brazilian corn, Mexican beef imports, and Amazon's influence in the Middle East.
• 0:26
  SPEAKER_00: We'll get to all of that and more here in a bit.
• 0:50
  SPEAKER_00: Lean hogs in the front month were only down 50 cents at 79.075, but they were down a lot more in some of the back months, close closer to a buck and a half down towards like February.
• 1:05
  SPEAKER_00: As we go on to quoting the grain markets, like to prop up our sponsor, plus 500, real quick.
• 1:11
  SPEAKER_00: We use plus 500 T4 trading software to trade the markets every single day.
• 1:15
  SPEAKER_00: Plus 500 T4.
• 1:17
  SPEAKER_00: And as I look here live, December corn is at 534.
• 1:22
  SPEAKER_00: Came up big overnight, and this morning it's coming back down.
• 1:25
  SPEAKER_00: Soybeans November contract is at 1323 and a quarter.
• 1:29
  SPEAKER_00: December Chicago wheat is at 725 and a half.
• 1:33
  SPEAKER_00: Same kind of story in all the grains.
• 1:35
  SPEAKER_00: They went up big on a big rally and early this morning are starting to come back down.
• 1:41
  SPEAKER_00: On the weather discussion for today, heavy rains has shifted south out of Iowa into northeastern Kansas, northern Missouri, and west central Illinois, with localized totals exceeding three plus inches and triggering flood warnings.
• 1:57
  SPEAKER_00: A sharp, dry, hot uh democation.
• 2:02
  SPEAKER_00: I'm not sure what that word is.
• 2:04
  SPEAKER_00: I'm not a meteorologist, folks, but Mr.
• 2:06
  SPEAKER_00: Craig Solberg is, he's our in-house meteorologist here here at Nesvik Trading.
• 2:10
  SPEAKER_00: It keeps the far southern Corn Belt and Mid South dry for at least another five days with a 10 to 15 degree above normal heat record sitting on warm overnight lows.
• 2:23
  SPEAKER_00: Or yeah, warm overnight lows, so it's just not cooling down overnight.
• 2:28
  SPEAKER_00: This is kind of accelerating crop dry down in areas.
• 2:31
  SPEAKER_00: In some places, it's great.
• 2:33
  SPEAKER_00: People are able to get into the fields a little bit sooner.
• 2:35
  SPEAKER_00: You know, places with silage harvests and things like that.
• 2:39
  SPEAKER_00: It's really pushing folks to go faster and faster to try and get it out of the field.
• 2:44
  SPEAKER_00: On the grain market discussion for today, this is the USDA versus the CONIB.
• 2:49
  SPEAKER_00: CONIB came out yesterday and it's talking about the Brazilian corn harvest.
• 2:55
  SPEAKER_00: Now, the USDA has just been slowly behind the CONIB's projections.
• 3:01
  SPEAKER_00: We'll see which one's right when you know they start getting into the field.
• 3:04
  SPEAKER_00: But this is 25-26, and as you can see earlier there in the year, big gap as we work later into 2026, they've started to merge more together.
• 3:16
  SPEAKER_00: There's more of this on our morning summary that we email out every single day on the premium side of things.
• 3:25
  SPEAKER_00: Speaking of premium side, this is one of our slides yesterday from Mike Sands' Fat Tuesday show.
• 3:31
  SPEAKER_00: I figured I'd pop it on to give you guys just a slight tease of what we talked about.
• 3:34
  SPEAKER_00: This is Mexican feeder cattle imports.
• 3:37
  SPEAKER_00: Now, they haven't been near of what to maybe we thought they were going to be that yellow line or those that yellow line down there is 2026.
• 3:46
  SPEAKER_00: The circles are right where we're at to maybe where we'll be.
• 3:49
  SPEAKER_00: Mike's calling for, you know, a decent amount of head, but nothing near pre-close averages.
• 3:58
  SPEAKER_00: Mostly because the cattle just aren't coming across.
• 4:00
  SPEAKER_00: I think on Monday we only imported around 800 head.
• 4:05
  SPEAKER_00: So it's been just a slight trickle, but we went into deep into why this matters and how this comes to be in our Fat Tuesday show.
• 4:14
  SPEAKER_00: I encourage you to go to Agbull.com.
• 4:17
  SPEAKER_00: It's$25 a month or$250 annually.
• 4:19
  SPEAKER_00: We do it every single week, not to mention Mike Sands talks every single day on Before the Bell.
• 4:25
  SPEAKER_00: Well, on our outside markets, this one stuck out to me like a sore thumb.
• 4:31
  SPEAKER_00: I thought I can't be reading this right.
• 4:34
  SPEAKER_00: AWS, that's Amazon, says it can't restore service to Bahrain, the United Emirates, the United Arab Emirates facilities six months after Iran strikes.
• 4:47
  SPEAKER_00: I read this and I said that can't be right.
• 4:49
  SPEAKER_00: They can't have Amazon over there, but they do.
• 4:52
  SPEAKER_00: AWS said it's unable to restore service to cloud computing facilities in Bahrain and parts of the UAE after marking its first public update since April.
• 5:04
  SPEAKER_00: In March, two of Amazon's data centers in the UAE were directly struck by drones while a site was also damaged by a nearby drone strike.
• 5:13
  SPEAKER_00: Attacks have raised questions about the security of future data developments in the Gulf region.
• 5:19
  SPEAKER_00: Well, it just goes to show how much of a global market, even when we talk about stocks, how globally impactful that they are.
• 5:29
  SPEAKER_00: I would have never even thought that next day shipping would have been an option in the UAE, but clearly it is.
• 5:46
  SPEAKER_00: The price of oil and diesel are driving grains more than ever, and I'm sure that's not no secret to most of you.
• 5:54
  SPEAKER_00: But even as oil slap starts to correct a little bit, overnight we got close to a hundred almost a hundred and seven dollars a barrel of crude, and that's on the WTI, it's really affecting everything that we do here.
• 6:12
  SPEAKER_00: There isn't a US industry that isn't impacted by the price of diesel fuel in any way.
• 6:17
  SPEAKER_00: You know, politicians argue for the price of a gallon of gasoline, but America runs on diesel.
• 6:24
  SPEAKER_00: It does it truly does.
• 6:25
  SPEAKER_00: Every industry does.
• 6:26
  SPEAKER_00: And so when we have worldly events that affect the price of our internal markets, big changes happen.
• 6:35
  SPEAKER_00: On the economic calendar for today, the NBA mortgage applications already came out at 6 a.m.
• 6:39
  SPEAKER_00: The StatCam production retail sales all come out here in a few minutes at 7.30 a.m.
• 6:46
  SPEAKER_00: The NAHB Housing Market Index comes out at 9 a.m.
• 6:50
  SPEAKER_00: The EIA energy stocks at 9.30, and the FOMC decision is at 1.
• 6:55
  SPEAKER_00: Those are all central time.
• 6:57
  SPEAKER_00: Well, make sure and catch Ag Squunk wherever you would like.
• 7:00
  SPEAKER_00: Not to mention, we like to release some other shows out there, so stay tuned for those.
• 7:04
  SPEAKER_00: Last week we leaked one of those Fat Tuesday shows for free to the general public.
• 7:08
  SPEAKER_00: So if you'd like to know what you can get with a subscription, go on over there and check it out.
• 7:13
  SPEAKER_00: We have a lot going on here the rest of the week.
• 7:15
  SPEAKER_00: Davis has some great shows in the afternoon.
• 7:18
  SPEAKER_00: They will be streamed live on X, or you can get them on all Ag Bull platforms.
• 7:23
  SPEAKER_00: Always happy to talk to you guys in the morning.
• 7:26
  SPEAKER_00: It's the highlight of my day.
• 7:27
  SPEAKER_00: I'll talk to you guys tomorrow.
• 7:29
  SPEAKER_00: Remember, we're Agbol Media.
• 7:30
  SPEAKER_00: We're a financial channel that absolutely loves agriculture.