July 25, 2025 • 14 mins
Ag markets face challenges as the USDA erroneously announced Chinese grain purchases before retracting the statement, creating unnecessary market volatility while farmers cope with tight margins and high interest rates.
• Breaking news on the passing of Hulk Hogan at age 71
• USDA's credibility questioned after false China grain purchase announcement
• Good growing conditions across the Northern Plains with regular rainfall
• Spring wheat tour shows good quality but not record yields
• Spring wheat futures contract issues causing trading confusion
• Cattle markets hitting new all-time highs with excellent pasture conditions
• USDA reorganization moving thousands of employees from DC to regional hubs
• Closing the South USDA Building and Beltsville Research Facility
• Northern Plains facing severe harvest basis with corn potentially -80 cents
• Interest rates remaining high, affecting grain storage economics and equipment sales
Call our hotline at 1-855-737-FARM to share your thoughts or questions. Sign up for the FarmNet News newsletter at rrfn.com or email don@rrfn.com.
Watch Us on U-Tube AG Bull Podcast
(105) AG Bull Podcast - YouTube
www.agbull.com
AG BULL Media
E-Mail tg@agbull.com
Thank you, Tommy G
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:11):
happy friday everyone .
Tom grisafi with ag bowltrading, ag bowl media we got
the one and only don wicksitting in the back here.
Just want to give you a headsup.
Next week I will be travelingup to ag phd field day and
that's a heck of an event.
There's all types of field daysgoing on, but on the 31st I'll
be traveling up to Baltic SouthDakota.
With that, this is your week inreview.
(00:33):
Let's bring in the star of theshow, mr Wick.
Don Wick, you and I chit-chatbefore we hit record and I
didn't think we have a lot totalk about.
But I take that back becauseyou have breaking news.
Breaking news breaking news.
Speaker 2 (00:49):
We lost another great one today, didn't we hulk hogan
?
We lost hulk hogan 71 years old.
Of course I'm from the midwest,so he started back in the old
awa and wrestling out of thetwin cities and then, of course,
went down to uh uh m uh McMahonand the WWE.
So, yeah, big name.
It's been a kind of a toughweek for baby boomers.
You had Hulk uh, theo Huxtableand Ozzy Osbourne, so it's kind
(01:13):
of a trifecta there.
Speaker 1 (01:17):
You're.
You're making me feel old andbumming me out.
Speaking of bummed out andlosing, uh, usda shutting office
, usda saying China bought grainand corn but they didn't.
What's going on over there?
What do you know?
Speaker 2 (01:29):
You're telling me about it when I went on with you
this morning.
It doesn't make a lot of sensefor USDA to make an announcement
like that and then reverse it.
Certainly it had some marketimplications.
China news got people excitedright away in the morning,
thursday.
Speaker 1 (01:43):
Yeah, yeah, we blowing up the markets and then
you know we sell off.
But we can review.
Not a lot to talk about.
In grains there's no.
Corn was up, Beans were down,Pretty quiet, Cattle doing
cattle things.
I think we'll go more.
What's going on with politics?
What's going on with farm billsand cutting bills?
And then you said the USDA isclosing some offices.
(02:05):
But I am terribly disappointedthat the USDA put out that China
bought corn and then they takethat statement back.
That upsets people.
People traded off thatinformation, Don.
If you did that as the RedRiver Farm Network, I think that
would be bad.
Speaker 2 (02:21):
It's all about credibility and when you're
releasing that type ofinformation, like you said, this
is a dollar and cents issue.
It doesn't make a lot of sensefor that to happen.
Speaker 1 (02:31):
Yeah Well, farmers aren't too happy with the price
of grain right now, althoughthey think there's big crops
coming.
My friends and family up inMayville said they got another
rain.
How are you guys doing onmoisture there in the valley?
Speaker 2 (02:42):
It seems like we've been getting showers every other
day here.
It's been pretty decent showersas well as far as amounts.
There was a good two-inch rainthat came through early Thursday
morning.
There's more showers here onthe way and kind of humid,
sticky conditions going into theweekend.
So some really good corngrowing weather.
If nothing else, We'll see whathappens if that moisture
(03:03):
continues and helps us makesoybeans in the month of August.
Speaker 1 (03:07):
Yeah, and here in the Midwest I am filming this today
from Valparaiso, indiana.
Show everybody where that isRight there.
That's where I am today.
In Valparaiso, indiana.
We are 93 degrees, incrediblyhot.
Feels like Florida, but we'renot.
In Florida.
There's no ocean.
But when you go outside frominside, you go whoa, whoa and
(03:28):
then, once you're out there fora while, it's fine if you don't
mind sweating, but if you wereall dolled up and didn't want to
get soaked, it's definitely atwo t-shirt day.
Here in the Midwest Are fairsgoing on Porter County Fair,
typically, don.
When the Porter County Fair isgoing on, grains are trending
down.
I feel like they've alreadytrended down.
(03:49):
I feel like the corn market isenough.
People have thrown out this 186number.
I feel like the corn numberstraded a big yield.
What are you hearing when youtalk to analysts and experts all
day?
Speaker 2 (04:02):
It does seem like we've got a pretty big crop out
there and the weather's beenpicture perfect for getting a
crop in.
On the wheat side we've hadthat Wheat Quality Council,
spring wheat and Durham tourgoing on this week.
Bustles aren't exactly they'renot forecasting the same kind of
numbers we had, say, a year ago, but the quality of this crop
looks to be really good.
Talking with Dave Green, theexecutive vice president with
(04:25):
the Wheat Quality Council, youknow they use this really as a
training exercise for some ofthe scouts that go out on this.
They bring in grain millers anduniversity types and such, and
for many of them it may be thefirst time they actually get out
into a wheat field in this typeof situation, this type of
scenario, and they use it for atraining type of situation.
(04:47):
It's hard for them to find scab, some of the disease issues,
because the crop's just beenvery clean, not a lot of weed
issues, so the wheat crop looksvery nice.
Bushels may not be exactly whatpeople had anticipated, though.
Speaker 1 (05:01):
And I feel like the markets know that we're dealing
with our wheat market.
There's three wheat marketsborder trade, kc well, the Miami
.
You know, don, there's beensome problems with where the
heck do I trade spring wheatanymore?
You've talked to analysts aboutthat or anything but CME listed
a contract.
I'll raise my hand and say itfailed.
(05:22):
It failed miserably.
The Miami exchange has acontract, but options are not
trading on it at all, or notwell, and we've really taken a
step back.
I'll just say my name's TommyGrisafi.
It's 2025.
Where the hell do you tradespring wheat Like?
People don't know what ticketto click, what the rules are.
(05:43):
I had a friend try to do a blocktrade.
They did the trade.
It executed, the exchange brokethe trade.
Then you got to go back.
You tell the client hey, you'refilled, you did this.
Then you got to tell the clientno, you didn't do that.
This is another example of usgoing backwards here.
Technology is supposed to beour friend.
I did before you and I wentlive.
I went on X and I asked Grok aquestion and it answered it and
(06:11):
then asked me a follow-up andasked me a follow-up and asked
me another follow-up and it waswriting a bio, uh, for my wife
and I.
You know I know you of allpeople how particular you are
about writing, have you?
Uh?
Do you feel in some ways we'regoing backwards, but yet we're
moving at the speed of light?
Speaker 2 (06:28):
Oh, with the whole world of AI, it's gotten pretty
easy to just throw up somethings and have it spit things,
you know, spit some verbiage outback to you.
So great tool, but you do haveto check the accuracy on it as
well.
Speaker 1 (06:42):
Right.
And so we got the USDA puttingout bogus stuff.
We got you know that.
Where do we trade?
Why can we not have aMinneapolis wheat contract that
trades like a normal right?
Let's be optimistic, positive.
How about those people whoranch and cattle?
What a time to be alive in thecattle market.
Speaker 2 (06:59):
Well, I tell you there's just so much grass.
I was out in uh the Bismarck,uh Washburn, North Dakota area,
central North Dakota, last weekwith an event with the Winfield
and the cows are belly high withgrass.
They're in heaven right nowwith the good quality grass, and
that's not something wenormally see this time of year
(07:21):
when we get into the westernDakota.
So that's very positive to haveall that green and, of course,
a lot of green going on in thismarketplace as well.
When we keep talking about newall-time highs, it's it's pretty
amazing every day.
Speaker 1 (07:34):
If the cattle pits were opened on, you know what
they'd look like?
They'd look like this, this iswhat they would look like.
But we don't have pits anymore,folks.
We just have people like mesitting in.
Uh, like scott the cow guy saysthat's tommy sitting in his
mom's basement and uh, it'sfunny because I put on a dress
shirt to do this interview withyou, and a vest and stuff.
I'm wearing shorts.
I'm literally wearing gymshorts, so not everything looks
(07:57):
like what it seems right.
Uh, objects, uh, it's just it's.
It's a wild world we live in.
Okay, moving forward, dc.
Any, what type of stuff?
I'm big, beautiful bill fsamoney, buy a bigger hat, get it
in that mailbox.
You're giving away money,correct?
Speaker 2 (08:14):
The one story I would say coming out of USDA is news
of reorganization.
The Ag Secretary out with anannouncement of a plan for
reorganization.
They're going to relocate manyof the Washington DC-based staff
.
Right now there's about 4,600staff members in the DC area for
(08:35):
USDA.
With this reorganization planthey're going to move to five
different hubs across thecountry, places like Raleigh,
north Carolina, indianapolis,kansas City, salt Lake City.
They're going to move out tothose areas and we'll be seeing
about 2,000 people in the DCarea.
The rest will be relocated ifthey desire to have that happen.
(09:00):
Part of the thing they talkedabout for employees would be the
cost of living is a lot easierin those type of places.
A lot of things that that waspart of the message.
But they're also looking atclosing some facilities as well.
If you've been to DC you've gotthe Jamie Whitten Building, the
headquarters for USDA, andacross the street is the South
USDA building.
(09:21):
It is one of the biggest officebuildings in all of Washington
DC.
That's being turned back to thegovernment, to the general
administration services, and wedon't know what's going to
happen with it.
It's not going to be under thepurview of USDA any longer.
They also plan on shutting downthe Beltsville Research
Facility in Maryland.
(09:42):
That's been a big researchfacility for USDA.
There's a number of otherfacilities, particularly again
in that DC area, that are goingto be closed down as part of
this reorganization.
Speaker 1 (09:55):
Well, I can say if you want something positive, if
you need to make money, gobecome a moving company and get
your butt out in DC, becausepeople need to move.
I will also say that I'vealways felt like the USDA is
totally disconnected from what'sgoing on in rural America,
because they had that largeconcentration of people in DC.
Get some boots on the ground,let's get some feet walking
(10:16):
through some fields and get somepeople in the Midwest which
they did a few years agobranching out to was it Missouri
, or to Kansas?
Speaker 2 (10:25):
They did do some of that under Purdue.
They were looking at doing moreat USDA in Kansas City.
But this is a major move thatthey're talking about in this
one and just what you're talkingabout, tommy.
Getting closer to the farmer ispart of the discussion points
with the USDA.
In this announcement that we'vehad.
There's like four pillars thatwere part of it.
Part of it is trying to get ridof some of the duplication that
(10:50):
we've got in USDA.
They want to, of course, makesome fiscal responsibility here,
but a big part of it wasgetting closer to the, the
farmer, uh, be more farmerfacing than what they have been
in the past all righty anythingelse in uh on your uh docket um
want to talk interest rates yeah, what's going on?
(11:10):
and as far as interest rates,what?
Speaker 1 (11:11):
are you hearing, tommy?
They're not going down the10-year 4.45 today.
Uh, they're not going up, butthey're definitely not going
down, folks, as you got tooperating.
Or if you talk about storinggrain, this is a little
marketing grain 101.
There is a cost of carryinggrain.
There is a cost of usingborrowed money to finance a
product.
There's a cost even if you arewealthy, as all could be, and
(11:34):
when God needs a loan he comesto you.
There's a cost of not havingthat money in another market.
The stock market just made newall-time highs yesterday, today,
all the way out through theweek here, new all-time highs
here in the stock market.
And it's not free to store adepreciating asset or an asset
that's not moving like corn.
So keep an eye on interestrates.
(11:55):
This is definitely hurtingequipment sales, new equipment,
used equipment, et cetera.
It's affecting the wholelandscape in agriculture.
Don.
Speaker 2 (12:04):
It's going to be interesting in this area because
we're going to need storage forall of that as well, and that's
prime situation with the damagewe had with some of the storms
last month here in North Dakota.
Speaker 1 (12:14):
I think I saw a bad quote come out from the governor
.
Yeah, we know there was like$10 million in damage and
everyone's like that number'slike $100 million or $200
million.
Maybe it was just a bad.
He may have just said somethingand he was off by a zero, but
everyone kind of definitelynoticed the internet blew up.
Did you see that quote?
Speaker 2 (12:32):
I think maybe what he's referring to is the state
is putting together some fundingto rebuild some of that
infrastructure.
It was close to that total thatyou were talking about there.
Speaker 1 (12:41):
Okay, maybe we all read it wrong as, hey, we got 10
million coming your way andthen people are like, yeah, we
need 100 million more, but weare low on bins and we are long
on grain.
I think the Northern Plainsfarmers holding grain from last
year and they're still sweepingbin bottoms with not so much
soybeans but there's corn stillin the countryside and wheat.
(13:02):
You can notice that out in thebasis.
The difference between the cashand futures Going out to
central North Dakota a dollarunder for beans at harvest Don
I'm embarrassed to say this Cornbasis already in part of the
North Dakota.
The difference between the cashand the futures we're 420
futures minus 80 cent corn basisat harvest.
That's not going to work foranyone.
(13:22):
340, 350 cash grain.
If the market drops and thebasis drops, you could see 299
cash grain at harvest in thenorthern plains.
Speaker 2 (13:31):
Yeah, that's not what anybody's looking for at this
point.
Speaker 1 (13:35):
No, but give them the good news.
How do they sign up for the RedRiver Farm Network?
Monday special edition.
Speaker 2 (13:42):
Our newsletter, called FarmNet News, comes out
every Monday morning.
You can sign up on our websiterrfncom or you can drop me an
email.
My email address is don atrrfncom.
Speaker 1 (13:55):
All right, everyone, this is Tom Gersoffi.
Don Wick, this is your weeklyedition.
We've skipped one or two ofthese.
I've been traveling, you'vebeen traveling, but we'll get
back on board.
Maybe we'll do two next week.
If you ever want to get a holdof me, folks, this is how you do
it right here you get a hold ofme 1-855-737-FARM.
That phone rings directly to meand we'd love to talk to you
(14:15):
with that.
Mr Don Wick, have a greatweekend.
It's warm out there, and that'sa good thing, and rain makes
grain.
Folks, if you have a comment oranything, drop it down below.
This video will be posted onYouTube and, of course, our
friends at Acres TV.
But if you need to get a holdof me or shoot me a text, I'm a
pretty easy guy to get a hold of.
Thanks, Don.
Thank you, Tommy.
happy friday everyone .
Tom grisafi with ag bowltrading, ag bowl media we got
the one and only don wicksitting in the back here.
Just want to give you a headsup.
Next week I will be travelingup to ag phd field day and
that's a heck of an event.
There's all types of field daysgoing on, but on the 31st I'll
be traveling up to Baltic SouthDakota.
With that, this is your week inreview.
(00:33):
Let's bring in the star of theshow, mr Wick.
Don Wick, you and I chit-chatbefore we hit record and I
didn't think we have a lot totalk about.
But I take that back becauseyou have breaking news.
Breaking news breaking news.
Speaker 2 (00:49):
We lost another great one today, didn't we hulk hogan
?
We lost hulk hogan 71 years old.
Of course I'm from the midwest,so he started back in the old
awa and wrestling out of thetwin cities and then, of course,
went down to uh uh m uh McMahonand the WWE.
So, yeah, big name.
It's been a kind of a toughweek for baby boomers.
You had Hulk uh, theo Huxtableand Ozzy Osbourne, so it's kind
(01:13):
of a trifecta there.
Speaker 1 (01:17):
You're.
You're making me feel old andbumming me out.
Speaking of bummed out andlosing, uh, usda shutting office
, usda saying China bought grainand corn but they didn't.
What's going on over there?
What do you know?
Speaker 2 (01:29):
You're telling me about it when I went on with you
this morning.
It doesn't make a lot of sensefor USDA to make an announcement
like that and then reverse it.
Certainly it had some marketimplications.
China news got people excitedright away in the morning,
thursday.
Speaker 1 (01:43):
Yeah, yeah, we blowing up the markets and then
you know we sell off.
But we can review.
Not a lot to talk about.
In grains there's no.
Corn was up, Beans were down,Pretty quiet, Cattle doing
cattle things.
I think we'll go more.
What's going on with politics?
What's going on with farm billsand cutting bills?
And then you said the USDA isclosing some offices.
(02:05):
But I am terribly disappointedthat the USDA put out that China
bought corn and then they takethat statement back.
That upsets people.
People traded off thatinformation, Don.
If you did that as the RedRiver Farm Network, I think that
would be bad.
Speaker 2 (02:21):
It's all about credibility and when you're
releasing that type ofinformation, like you said, this
is a dollar and cents issue.
It doesn't make a lot of sensefor that to happen.
Speaker 1 (02:31):
Yeah Well, farmers aren't too happy with the price
of grain right now, althoughthey think there's big crops
coming.
My friends and family up inMayville said they got another
rain.
How are you guys doing onmoisture there in the valley?
Speaker 2 (02:42):
It seems like we've been getting showers every other
day here.
It's been pretty decent showersas well as far as amounts.
There was a good two-inch rainthat came through early Thursday
morning.
There's more showers here onthe way and kind of humid,
sticky conditions going into theweekend.
So some really good corngrowing weather.
If nothing else, We'll see whathappens if that moisture
(03:03):
continues and helps us makesoybeans in the month of August.
Speaker 1 (03:07):
Yeah, and here in the Midwest I am filming this today
from Valparaiso, indiana.
Show everybody where that isRight there.
That's where I am today.
In Valparaiso, indiana.
We are 93 degrees, incrediblyhot.
Feels like Florida, but we'renot.
In Florida.
There's no ocean.
But when you go outside frominside, you go whoa, whoa and
(03:28):
then, once you're out there fora while, it's fine if you don't
mind sweating, but if you wereall dolled up and didn't want to
get soaked, it's definitely atwo t-shirt day.
Here in the Midwest Are fairsgoing on Porter County Fair,
typically, don.
When the Porter County Fair isgoing on, grains are trending
down.
I feel like they've alreadytrended down.
(03:49):
I feel like the corn market isenough.
People have thrown out this 186number.
I feel like the corn numberstraded a big yield.
What are you hearing when youtalk to analysts and experts all
day?
Speaker 2 (04:02):
It does seem like we've got a pretty big crop out
there and the weather's beenpicture perfect for getting a
crop in.
On the wheat side we've hadthat Wheat Quality Council,
spring wheat and Durham tourgoing on this week.
Bustles aren't exactly they'renot forecasting the same kind of
numbers we had, say, a year ago, but the quality of this crop
looks to be really good.
Talking with Dave Green, theexecutive vice president with
(04:25):
the Wheat Quality Council, youknow they use this really as a
training exercise for some ofthe scouts that go out on this.
They bring in grain millers anduniversity types and such, and
for many of them it may be thefirst time they actually get out
into a wheat field in this typeof situation, this type of
scenario, and they use it for atraining type of situation.
(04:47):
It's hard for them to find scab, some of the disease issues,
because the crop's just beenvery clean, not a lot of weed
issues, so the wheat crop looksvery nice.
Bushels may not be exactly whatpeople had anticipated, though.
Speaker 1 (05:01):
And I feel like the markets know that we're dealing
with our wheat market.
There's three wheat marketsborder trade, kc well, the Miami
.
You know, don, there's beensome problems with where the
heck do I trade spring wheatanymore?
You've talked to analysts aboutthat or anything but CME listed
a contract.
I'll raise my hand and say itfailed.
(05:22):
It failed miserably.
The Miami exchange has acontract, but options are not
trading on it at all, or notwell, and we've really taken a
step back.
I'll just say my name's TommyGrisafi.
It's 2025.
Where the hell do you tradespring wheat Like?
People don't know what ticketto click, what the rules are.
(05:43):
I had a friend try to do a blocktrade.
They did the trade.
It executed, the exchange brokethe trade.
Then you got to go back.
You tell the client hey, you'refilled, you did this.
Then you got to tell the clientno, you didn't do that.
This is another example of usgoing backwards here.
Technology is supposed to beour friend.
I did before you and I wentlive.
I went on X and I asked Grok aquestion and it answered it and
(06:11):
then asked me a follow-up andasked me a follow-up and asked
me another follow-up and it waswriting a bio, uh, for my wife
and I.
You know I know you of allpeople how particular you are
about writing, have you?
Uh?
Do you feel in some ways we'regoing backwards, but yet we're
moving at the speed of light?
Speaker 2 (06:28):
Oh, with the whole world of AI, it's gotten pretty
easy to just throw up somethings and have it spit things,
you know, spit some verbiage outback to you.
So great tool, but you do haveto check the accuracy on it as
well.
Speaker 1 (06:42):
Right.
And so we got the USDA puttingout bogus stuff.
We got you know that.
Where do we trade?
Why can we not have aMinneapolis wheat contract that
trades like a normal right?
Let's be optimistic, positive.
How about those people whoranch and cattle?
What a time to be alive in thecattle market.
Speaker 2 (06:59):
Well, I tell you there's just so much grass.
I was out in uh the Bismarck,uh Washburn, North Dakota area,
central North Dakota, last weekwith an event with the Winfield
and the cows are belly high withgrass.
They're in heaven right nowwith the good quality grass, and
that's not something wenormally see this time of year
(07:21):
when we get into the westernDakota.
So that's very positive to haveall that green and, of course,
a lot of green going on in thismarketplace as well.
When we keep talking about newall-time highs, it's it's pretty
amazing every day.
Speaker 1 (07:34):
If the cattle pits were opened on, you know what
they'd look like?
They'd look like this, this iswhat they would look like.
But we don't have pits anymore,folks.
We just have people like mesitting in.
Uh, like scott the cow guy saysthat's tommy sitting in his
mom's basement and uh, it'sfunny because I put on a dress
shirt to do this interview withyou, and a vest and stuff.
I'm wearing shorts.
I'm literally wearing gymshorts, so not everything looks
(07:57):
like what it seems right.
Uh, objects, uh, it's just it's.
It's a wild world we live in.
Okay, moving forward, dc.
Any, what type of stuff?
I'm big, beautiful bill fsamoney, buy a bigger hat, get it
in that mailbox.
You're giving away money,correct?
Speaker 2 (08:14):
The one story I would say coming out of USDA is news
of reorganization.
The Ag Secretary out with anannouncement of a plan for
reorganization.
They're going to relocate manyof the Washington DC-based staff
.
Right now there's about 4,600staff members in the DC area for
(08:35):
USDA.
With this reorganization planthey're going to move to five
different hubs across thecountry, places like Raleigh,
north Carolina, indianapolis,kansas City, salt Lake City.
They're going to move out tothose areas and we'll be seeing
about 2,000 people in the DCarea.
The rest will be relocated ifthey desire to have that happen.
(09:00):
Part of the thing they talkedabout for employees would be the
cost of living is a lot easierin those type of places.
A lot of things that that waspart of the message.
But they're also looking atclosing some facilities as well.
If you've been to DC you've gotthe Jamie Whitten Building, the
headquarters for USDA, andacross the street is the South
USDA building.
(09:21):
It is one of the biggest officebuildings in all of Washington
DC.
That's being turned back to thegovernment, to the general
administration services, and wedon't know what's going to
happen with it.
It's not going to be under thepurview of USDA any longer.
They also plan on shutting downthe Beltsville Research
Facility in Maryland.
(09:42):
That's been a big researchfacility for USDA.
There's a number of otherfacilities, particularly again
in that DC area, that are goingto be closed down as part of
this reorganization.
Speaker 1 (09:55):
Well, I can say if you want something positive, if
you need to make money, gobecome a moving company and get
your butt out in DC, becausepeople need to move.
I will also say that I'vealways felt like the USDA is
totally disconnected from what'sgoing on in rural America,
because they had that largeconcentration of people in DC.
Get some boots on the ground,let's get some feet walking
(10:16):
through some fields and get somepeople in the Midwest which
they did a few years agobranching out to was it Missouri
, or to Kansas?
Speaker 2 (10:25):
They did do some of that under Purdue.
They were looking at doing moreat USDA in Kansas City.
But this is a major move thatthey're talking about in this
one and just what you're talkingabout, tommy.
Getting closer to the farmer ispart of the discussion points
with the USDA.
In this announcement that we'vehad.
There's like four pillars thatwere part of it.
Part of it is trying to get ridof some of the duplication that
(10:50):
we've got in USDA.
They want to, of course, makesome fiscal responsibility here,
but a big part of it wasgetting closer to the, the
farmer, uh, be more farmerfacing than what they have been
in the past all righty anythingelse in uh on your uh docket um
want to talk interest rates yeah, what's going on?
(11:10):
and as far as interest rates,what?
Speaker 1 (11:11):
are you hearing, tommy?
They're not going down the10-year 4.45 today.
Uh, they're not going up, butthey're definitely not going
down, folks, as you got tooperating.
Or if you talk about storinggrain, this is a little
marketing grain 101.
There is a cost of carryinggrain.
There is a cost of usingborrowed money to finance a
product.
There's a cost even if you arewealthy, as all could be, and
(11:34):
when God needs a loan he comesto you.
There's a cost of not havingthat money in another market.
The stock market just made newall-time highs yesterday, today,
all the way out through theweek here, new all-time highs
here in the stock market.
And it's not free to store adepreciating asset or an asset
that's not moving like corn.
So keep an eye on interestrates.
(11:55):
This is definitely hurtingequipment sales, new equipment,
used equipment, et cetera.
It's affecting the wholelandscape in agriculture.
Don.
Speaker 2 (12:04):
It's going to be interesting in this area because
we're going to need storage forall of that as well, and that's
prime situation with the damagewe had with some of the storms
last month here in North Dakota.
Speaker 1 (12:14):
I think I saw a bad quote come out from the governor
.
Yeah, we know there was like$10 million in damage and
everyone's like that number'slike $100 million or $200
million.
Maybe it was just a bad.
He may have just said somethingand he was off by a zero, but
everyone kind of definitelynoticed the internet blew up.
Did you see that quote?
Speaker 2 (12:32):
I think maybe what he's referring to is the state
is putting together some fundingto rebuild some of that
infrastructure.
It was close to that total thatyou were talking about there.
Speaker 1 (12:41):
Okay, maybe we all read it wrong as, hey, we got 10
million coming your way andthen people are like, yeah, we
need 100 million more, but weare low on bins and we are long
on grain.
I think the Northern Plainsfarmers holding grain from last
year and they're still sweepingbin bottoms with not so much
soybeans but there's corn stillin the countryside and wheat.
(13:02):
You can notice that out in thebasis.
The difference between the cashand futures Going out to
central North Dakota a dollarunder for beans at harvest Don
I'm embarrassed to say this Cornbasis already in part of the
North Dakota.
The difference between the cashand the futures we're 420
futures minus 80 cent corn basisat harvest.
That's not going to work foranyone.
(13:22):
340, 350 cash grain.
If the market drops and thebasis drops, you could see 299
cash grain at harvest in thenorthern plains.
Speaker 2 (13:31):
Yeah, that's not what anybody's looking for at this
point.
Speaker 1 (13:35):
No, but give them the good news.
How do they sign up for the RedRiver Farm Network?
Monday special edition.
Speaker 2 (13:42):
Our newsletter, called FarmNet News, comes out
every Monday morning.
You can sign up on our websiterrfncom or you can drop me an
email.
My email address is don atrrfncom.
Speaker 1 (13:55):
All right, everyone, this is Tom Gersoffi.
Don Wick, this is your weeklyedition.
We've skipped one or two ofthese.
I've been traveling, you'vebeen traveling, but we'll get
back on board.
Maybe we'll do two next week.
If you ever want to get a holdof me, folks, this is how you do
it right here you get a hold ofme 1-855-737-FARM.
That phone rings directly to meand we'd love to talk to you
(14:15):
with that.
Mr Don Wick, have a greatweekend.
It's warm out there, and that'sa good thing, and rain makes
grain.
Folks, if you have a comment oranything, drop it down below.
This video will be posted onYouTube and, of course, our
friends at Acres TV.
But if you need to get a holdof me or shoot me a text, I'm a
pretty easy guy to get a hold of.
Thanks, Don.
Thank you, Tommy.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.