Episode Transcript
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Speaker 1 (00:11):
Well, the markets are
open.
It's a wild, wild week.
My name is Tommy Grisafi.
Welcome to AgBull Media, theAgBull podcast.
Sometimes you'll hear us evensay AgBull Trading.
We're here at Nesvik today andwe are in Nashville, Tennessee.
If you don't believe me, I havea graphic for that.
You just watch this.
I am in Nashville, tennessee,here recording with my good
(00:33):
friend, don Wick.
There we are, nashville,tennessee.
Ag Bowl Media, the Ag Bowlpodcast.
Let's not wait, let's bring himinto the show, mr Don Wick,
we'll add him to the stage there.
He is Poof, just like thatmagic trick.
Mr Wick, how are you I'm doing?
Okay, we were supposed torecord Friday, and what this
(00:53):
show would have looked likeFriday week in review is totally
different than how it's goingto look today.
So it's Tuesday.
We have a thumbnail picked out.
It was called US Attacks, irantype of deal.
That was actually for SundayThen, because we didn't do it
Sunday, now it is the war isover.
What say you, mr Wick?
Speaker 2 (01:15):
They're still
throwing bombs at each other.
But yeah, it has been a bigweek globally, obviously, when
we're the US getting involved toa degree that we've never done
really in the past 40 some years, at least as far as getting
involved with Israel in thisparticular instance.
Speaker 1 (01:36):
Yeah, and so it was
that Israel and Iran are
fighting.
We're supposed to stay out ofit.
Then we go help Israel.
Other countries are helpingIran and we're supposed to stay
out of it.
Then we go help Israel.
Other countries are helpingIran, and then we're all trying
to pretend that we're not.
You know, you know, got the baddraw on this.
I've seen a MIM, ukraineZelensky's, out there like bro,
(01:56):
where's my money?
What about me?
Have you seen any of those?
You don't.
You don't hear nothing abouthim anymore.
Speaker 2 (02:02):
It kind of went off
the headlines right away, didn't
it?
There, you don't hear nothingabout him anymore, do you?
Speaker 1 (02:04):
It kind of went off
the headlines right away, didn't
it?
There's only X amount of roomfor headlines, all right.
Speaking of headlines, we havea couple from yesterday.
We're going to pull those up.
This is when Trump tweetedyesterday afternoon and this is
what really moved the marketshere.
President Trump tweeted on TrueSocial that he said
congratulations everyone, fullagreement.
As if it just kind of fixedeverything and the war is over
(02:25):
here.
And so you see him tweeting outstuff like this.
Interesting enough, crude oilhad a real big day yesterday.
It opened on Sunday night andwent up three bucks and then it
went down.
We'll get that pulled off andget back to us.
And crude oil went down.
(02:46):
The crude oil market's beingmoved so much by these Trump
tweets.
It's just unbelievable.
And crude oil opened $2 higherand then it traded about $6
lower, and now it's down another$4 today.
Speaker 2 (03:04):
I find it amazing,
with all of the conflict in the
Middle East, and particularlywith what could happen still in
that straight of ormu, is thatuh, oil prices are what mid 60
dollar money right now?
Speaker 1 (03:13):
yeah, 64 65 here
today.
Uh, crude oil, uh moving around, yeah, very interesting.
While all this is going on, uh,you had some big storms here in
North Dakota.
Talk to us about what you knowabout that.
Speaker 2 (03:29):
So Friday night a
storm came out of Montana and
basically termed as a derechostraight line.
Winds covering about 400 milesin length from Montana, all the
way into Minnesota really alongthat I-94 corridor from
Dickinson through eastern NorthDakota as well.
(03:53):
Tremendous amount of damage,tommy, particularly as it
relates to the grain storage.
We've got a lot of grain binsand setups that were blown out
entirely.
We had obviously the biggestimpact was three lives lost in
this whole situation.
We can't forget about that.
But the economic toll on thisis going to be huge.
(04:15):
I talked with Ag CommissionerDoug Goring this morning and
asked really if they had a graspon how much storage was lost in
this whole storm.
He said it could be anywherefrom 50 to 80 million bushels of
capacity and he said it verylikely could even be over 100
million bushels of capacity ofgrain storage lost and that's
(04:37):
going to take a matter of yearsreally to try to rebuild those
type of facilities.
That's a pretty significanttype of situation.
Speaker 1 (04:46):
Yeah, you stay right
there, Keep talking.
I think I have pictures.
Can we hear you, don?
Yeah, okay, I'm going to gothrough and we downloaded a
bunch of pictures and if folksaren't out there, if these are
from people's ring cameras.
And then the news hey, you knowwhen what's-his-name's out
there, when Reed Timmer'scovering North Dakota live,
(05:07):
that's a problem.
But this tornado down inSpiritwood, could you imagine if
that would have hit the ethanolplant or the crushing facility?
Speaker 2 (05:15):
Yeah, yeah, it did
get to some grain elevators
where there's been at leastminor damage on some of the
grain storage facilities atelevators.
But boy, yeah, look at thedamage of the trees that went
out of there, a lot of farmbuildings that were taken out,
and then you take a look at allof the debris that went into
(05:37):
those farm fields.
I didn't even think about that.
Yeah, these fields they'regoing to have to get cleaned out
before we can get a corn headerin there.
This has got some legs to it.
It's going to take some time torecover from this situation.
Speaker 1 (05:54):
I didn't think about
the debris going in the fields.
That's a great point.
That's a really great point.
Yeah, I didn't even think aboutthat.
Speaker 2 (06:03):
Actually, today in
Angola in the FFA chapter and
Farm Credit are working together.
They've got volunteers outwalking fields and trying to
clean that debris out of thesefields because there's no way
these farmers would be able toget a combine into some of these
fields as fall with all of thedebris, that debris that's out
there yeah, it's almost like anyfield that you think has stuff
(06:23):
in.
Speaker 1 (06:23):
It's going to need to
be walked and as these crops
get bigger in canopy it's goingto be really hard to see that.
So you're going to be goingthrough at harvest and no doubt
some some headers are going toget messed up, right yeah, and
then the crop damage as well.
Speaker 2 (06:39):
Talked with one
farmer, one farmer at New Salem
this morning.
Basically, beans that wereplanted into corn stubble, that
corn trash basically blew up andsheared off the soybean plants.
They were having inspectors,crop inspectors in today,
insurance adjusters, to check onthe dry beans and some of the
other crops in that region aswell and it'll be interesting to
(07:02):
see what the grand total is.
The one thing that Doug Goringbeans and some of the other
crops in that region as well,It'll be interesting to see what
the grand total is.
The one thing that Doug Goring,the Ag Commissioner, said this
morning is he encouraged all thefarmers to be sending in what
kind of losses they hadfinancial losses to their county
extension office so thatassessment can go to the
governor's office.
If they're going to be able todo something at the state or
federal level, they need thattype of information and quickly.
Speaker 1 (07:23):
Yeah, great point.
Okay, so we have the locallevel.
It's not often that I'm turningon the news on a saturday and
north dakota is definitelynational, even international,
story for the amount of weatherthey what the post I saw on
Facebook said hurricane hitsNorth Dakota, meaning that the
winds were like a three right.
Speaker 2 (07:49):
Yeah, we had winds in
some areas in excess of 100
miles per hour.
It's hard to sustain buildingsand equipment at those kind of
levels.
Speaker 1 (07:59):
Yeah, definitely very
scary.
All right with that, what doyou know on the government side
with all this, what we're doingwith Israel and Iran and farm
bill stuff?
What are you hearing from DC?
I'm sure they've beensidetracked with the
international news.
Speaker 2 (08:16):
Well, they're still
trying to work on that so-called
Big, beautiful Bill, the budgetreconciliation bill.
That's got a lot of thepresident's wish list on there.
It would renew the 2017 taxcuts.
There's a lot of provisions onborders and some energy issues.
It also has some ag issues.
(08:36):
It would increase referenceprices.
All of that in that bill, as youknow, went through the House,
came to the Senate.
They're tweaking it somewhatand they're not finding the
support they need at this pointto get the bill passed in the
Senate.
Senate Majority Leader JohnThune out of South Dakota said
he's keeping the folks' cancelvacations.
(08:57):
They're going to stay in DCuntil they get this thing done.
They had a self-imposeddeadline to have it wrapped up
this week, so it'd be done inthe Senate the upper chamber
before the July 4th recess andnow they're saying they're going
to stay there.
The other complication theSenate parliamentarian ruled on
Friday that some of theseprovisions, including some of
these SNAP provisions, wherethey were going to push some of
(09:20):
the spending away from thefederal government into the
state that is a no-go.
They can't move forward.
There's a couple otherprovisions as it relates to SNAP
and that also kind ofcomplicates this whole process
as well, trying to rejigger thedollars to make it work for what
they want in the spending bill.
Speaker 1 (09:39):
Yeah, very good.
So taking it from the top, wehad a war.
I walked home here the otherday in Nashville.
They're protesting outside thecourthouse about how America
shouldn't be in World War IIIwith Iran and I'm laughing.
I'm like these kids protestingdon't know the war's over.
Obviously they didn't get thememo.
I didn't have time to put thatbeautiful picture up of people
(10:02):
expressing their opinions andwhat they think, but it made me
smile knowing that crude oil wasdown $7, $8 already for that
day and then another for today.
That'd be headline number two.
Crude oil markets absolutelycrashed.
They traded close to $80 onSunday.
They're trading $65 now.
That's interesting.
(10:23):
Also, don, we didn't bring up,but there's been a lot of
chatter today in Fed speak.
I do believe Paul's beenspeaking.
In the old days they used tocall it Humphrey Hawkins or
there's different Fed governorsout, but we had a Fed meeting
last week and there's a lot ofcommentary about.
With oil now coming down.
This may just give the greenlight to lower interest rates.
(10:46):
I know interest rates are oneveryone's mind.
We have elevated interest ratesand that's been a real problem
for people.
Speaker 2 (10:53):
So September is the
next time they'd be making a
decision on interest rates,right?
Speaker 1 (10:57):
Yeah, they have
meetings pretty often, but they
have this point where there'smeetings and then there's times
when the Fed governors can'ttalk, and there's been a lot of
Fed governors talking the lastfew days and giving hints and
clues and you see the bondmarket moving with that.
Speaking of talking, every weekyou put out the bulletin.
I have that here and there yougo right there.
(11:18):
Tell us about your weeklynewsletter so people watching
this can get signed up for that.
Speaker 2 (11:23):
Our newsletter is
called FarmNet News.
It goes out every Monday.
It's a snapshot of what'shappening in the world of
agriculture and, yes, you cansign up online at rrfncom.
It's for Red River Farm Network.
Speaker 1 (11:35):
Yeah, and then, of
course, mr Wick is on all the
social medias and he's a veryactive guy with that.
Speaking of social medias, Iwant to pop something up.
We've been working on a fewthings here and there about
social medias.
Let me see if I could find thatwhat our social medias are.
So many things up here, so manynew buttons to click.
Let me see if I could find it.
(11:55):
Let's see.
Here, there we go.
That's Agbo Media X, youtube,instagram, facebook.
Of course we're on TikTok too,for you wild ones, and Mr Wick's
on that.
And no, mr Wick is not onTikTok, he is not a TikToker,
it's Adult Swim only with MrWick.
But with that you're going to begone on Friday.
(12:17):
I hope to meet with young Jamieover there and we'll get the
Friday official week in thereview once this week's behind
us.
All eyes on the big USDA reportnext week, don, a lot of
pre-market, yeah, a lot of acresand ending stocks, and it's the
end of.
We'll be officially halfwaythrough the year when we have
(12:41):
that report.
I feel like it's on Friday.
It's actually on Monday, so notthis Friday.
Next Monday is the end of themonth and then it's definitely
usually a market mover, yeah nodoubt A lot of things happening
all at once.
Speaker 2 (12:55):
And then that acreage
report, a lot of eyes,
particularly, I would think, onthe corn numbers.
Speaker 1 (13:00):
Yeah, yeah, all eyes
on corn and then if we plant too
much corn, maybe that'sfriendly beans or vice versa.
So with that, tom Grisafi here,agbo Media, agbo Podcast, don
Wick, red River Farm Network.
I'm in Nashville, tennessee,today and we'll get this video
boxed out and we'll get sent outto the world.
Thanks, mr Wick, Thanks, tommy,thank you.