September 19, 2025 • 42 mins
US-China relations show promising signs with a potential trade agreement in the works and Beijing issuing a formal state visit invitation to Trump. South China Morning Post reports final stages of negotiations that could include bulk purchases of American soybeans by year-end.
• Secretary Rollins confirms farmer aid package being considered to address cash flow problems
• Funding options include Commodity Credit Corporation, tariff revenue, and Section 32 funds
• NCGA survey shows 80% of farmers point to a farm crisis with significant economic concerns
• CRP enrollment nearing statutory limit of 27 million acres with 25.8 million currently enrolled
• Supreme Court to hear arguments on Trump's tariff authority beginning November 5
• EPA expected to release ag-friendly Waters of the US definition and re-approve Dicamba with restrictions
• Potential government shutdown could impact agricultural reports and services
• Federal Reserve cut interest rates by 25 basis points with more cuts expected this year
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Thank you, Tommy G
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:14):
happy friday everyone .
Tom grisafi, ag bowl media, agbowl trading.
I'm down here in valparaiso,indiana.
I want to thank my good friendsat nesvic, nesvik Trading.
That's where I partnered withwith Agble Trading.
They're down in Memphis andthey're in Nashville.
If you're ever in Memphis,you're ever in Nashville, come
visit us.
But you're not here to talkabout me.
Enough about me.
(00:34):
Let's bring in the host, theguest, the hostess, with the
mostess.
However they say it, Mr JimWiesmeyer.
Speaker 2 (00:45):
Mr Jim Wiesmeyer.
We have a lot of stuff to talkabout.
Speaker 1 (00:46):
Busy week, busy week, Late breaking news too, all
that stuff, all right.
So virtual hug, let's getstarted.
The stage is yours, sir.
Sure, all right, let's hit it.
Let me see here PresidentTrump's talking to China.
Maybe that meeting's stillgoing on Trump-Z meeting what do
you see in there, my friend?
Speaker 2 (01:02):
Well, I'll tell you, they did have the call.
It started at 9 o'clock amEastern time and they're trying
to stabilize their relationship,which is geopolitically a
little frazzled of late becausethey're the two powers in the
world.
But the good news out of thisis that apparently they set the
stage to meet personally at theAPEC summit which goes on in
(01:27):
South Korea October 31st toNovember 1.
And, importantly, beijingissued a formal state visit
invitation to Trump, and youknow how he likes to have all
the pomp and circumstance of thevisits.
You saw that earlier this weekin the UK.
Circumstance of the visits yousaw that earlier this week in
the UK and the preparations forthat, I've been told, is in the
(01:54):
final stages.
But from an ag perspective, wedon't know yet if they
specifically talked about ag.
But the South China MorningPost that's why you got to
monitor Asian papers too earlierthis week said that they're in
the final stages US and China ofa new trade agreement,
including potential bulkpurchase deals such as Boeing
jets and, for agriculture, ussoybeans.
(02:17):
Now again yeah, the trade willsay, well, how soon can this
happen?
You know a trader wants itright away.
Well, no, it's going toprobably take near the end of
the year and things like that.
But you know it's good news ifthey can bring back US soybeans
with an enforceable new phasetwo or whatever they're going to
call this trade agreement.
(02:37):
Bottom line, tommy, is that wehave some positive steps in the
right direction.
Speaker 1 (02:44):
Yeah, and when we started recording this might be
our fifth or sixth episode youwere very clear on saying it's
going to be to the end of theyear or next year.
China can last quite a whilewithout our beans.
They're going to South Americaand they may have to come over
here.
The explosive thing, jim, iffolks want to hear a bullish
scenario, if South America has aproduction problem, buckle up
(03:05):
buttercup.
These beans will go a lothigher.
China will have to come overhere and sign a deal and Trump
can make a big deal out of itand everything else, absolutely.
Speaker 2 (03:13):
And watch your preposition by the US trade.
If they sense that this tradeagreement is going to take
effect, they're going to want toget a book on.
You know that, Tommy.
As far as the cash market,things like that and shipping, I
don't want to get too complexon on the on the program, but I
wrote a big story, a couple ofstories this week on the
(03:33):
beginning and the not toodistant future.
The U?
S is going to assess a Chineseowned or Chinese built vessels
coming in.
Now that could have been a bignegative for soybeans if we do
have an agreement.
But there's an exemption forthe below 80,000 deadweight
tonnage, you know DWT, and mostof the soybeans fit in that
(03:56):
category.
So, but not all, We've got anumber of US farm exports that
would go corn and that to China.
That would be in those largervessels.
But that's one for the futureto look into because this may be
part of the trade agreementthat China gets the Trump people
to waive that fee on US farmsales to China.
(04:20):
Yeah, I can't say the 100%, butI know that'll be up for
discussion.
Right, and if people want toget, yeah, I can't say the 100%,
but I know that'll be up fordiscussion.
Speaker 1 (04:25):
Right.
And if people want to get yournewsletter because you're
hinting here that you allegedlyhave this newsletter but you've
written all these storiesalready, right, they can get
them if they send you an email.
Speaker 2 (04:35):
Absolutely.
Yeah, I do it every day, as youwell know, sometimes two, three
times a day with individualitems, but my morning one went
out.
What about 9.05 Eastern time?
Today?
It's called Updates and justemail me and I've got a number
of viewers and listeners to thepodcast here have already asked
(04:56):
me to it and they should begetting it.
If they don't, let me know.
Speaker 1 (05:00):
Oh, very good, yeah, and on the top of that
newsletter you keep this show,weissmeyer's Perspectives, the
audio link where they can go toApple, spotify, buzzsprout,
wherever yes, and you also havethe YouTube link and you do
other content.
All right, let's keep movingalong.
We got a lot of stuff to talkabout.
Short time to get there.
Speaker 2 (05:34):
I am keeping an eye on my phone for breaking news
here, but Tara for Leaf, I thinkwe talked about this or we're
going to talk about it.
Well, yeah, and I've saidconsistently and now lawmakers
are starting to say it, andSecretary Rollins said in an
interview with the FinancialTimes yesterday, I think it was
that yes, they're going to havea farmer aid package.
They're really still lookinginto, Tommy, how they're going
to fund it.
Now you'll recall in the firstTrump administration that they
had trade mitigation paymentsthat came out of the Commodity
(05:55):
Credit Corporation CCC CharterAct.
Now that's only down tobillions of dollars.
Right now.
It has a borrowing authority of$30 billion and Congress always
replenishes it at the end ofthe fiscal year, which we're at,
or the beginning of a newfiscal year that starts October
(06:15):
1.
So that'll eventually go backto $30 billion.
But I think what they're lookingat is maybe another funding
mechanism, and there's two.
There's this tariff revenue,but the problem there, tommy, is
that the Supreme Court is goingto rule either late this year
or early next year on thelegality of Trump's tariffs.
(06:35):
So all the billions of dollars,I think they've already taken
in $190 billion Even inWashington.
That's a lot of money.
Yeah, I think that they'regoing to be reticent to tap that
until they get that SupremeCourt ruling.
That again will come as earlyas December, more likely early
(06:56):
next year, although therealready is some tariff money in
there from other trade tariffrevenues.
That's on the up and up thatare not being challenged 301
actions and things like that,and that's a chunk of change.
And by law USDA gets 30% of thattariff funding and that's
(07:20):
section 32.
I'm telling you lawmakers oughtto look into the rewriting of
the use of those Section 32funds.
I suggested that in an item Iwrote this morning.
In other words, give USDA alittle more leeway in accessing
(07:41):
those funds for farmer aid.
But bottom line, for thelisteners it's not a question in
my mind.
The hurt in agriculture is sosignificant that bipartisan
support for another farmer aidpackage Now I know some
listeners out there are going tosome, not all, not the majority
(08:01):
are going to say boy, we wanttrade, not aid.
Speaker 1 (08:04):
We want trade not aid .
Speaker 2 (08:05):
We want trade, not aid, trade not aid.
This town understands that.
But it's going to take a whileto get these controversial trade
policy changes of Trumpunderway and implemented and
until then you've got a cashflow drain out there.
But I hear the listeners whosay you know, let the market
(08:26):
work.
Well, sometimes the marketagain, tommy, you know, can be
pretty brutal.
Speaker 1 (08:31):
And real quick.
Upon recording this here, it'sFriday afternoon.
Soybeans are up two cents,trading 1040.
So if there's breaking newsbefore work, after work, you
know whatever this weekend.
Note that upon recording this,decorne's at 426 and no beans
are up too.
So beans were up a lot morelast night.
Hey, there's been a tweet storm, jim.
Secretary Rollins, I don't knowwho the hell's putting this
(08:51):
stuff out for, but it don't makesense compared to the futures
and options I trade.
Go ahead.
Stage of shares.
You know what I'm going to sayOn Taiwan, just anything, any of
these.
Speaker 2 (09:04):
Well, rollins put out a tweet on X that she said
Taiwan committed to $10 billionin US ag purchases over the next
four years and that would coversoybeans, corn wheat and beef.
Well, let's be blunt on thisone, it was a hyper statement,
it was overstatement, becausetaiwan purchases that anyway.
(09:27):
So I, I you know.
I just wish she wouldn't hypethose things as big and
important news, because it, Imean, it's important to ag, but
they would have purchased itanyway yeah, and she put out
this tweet about wheat.
Speaker 1 (09:41):
You know we're selling record amounts of wheat
and wheat's at multi, multi,multi-year lows.
When you put this little oomphon there, this is what America
first winning looks like.
There's parts of the countrythat wheat almost has a three in
front of it.
Jim, a three, that is notwinning, my friend.
Speaker 2 (10:01):
It's not winning and that's why she's got to be a
little more sensitive to themarket.
Well, ag secretaries typicallyare not market people and that's
when they get in trouble.
And also the presidentsometimes.
You'll recall what was it lastweek President Trump said you
know we've got to do somethingabout the cattle, the beef.
Well you know we're going tohave to teach him the cattle
(10:25):
cycle.
Yeah, you can't turn that beefaround like they did.
The egg market, tommy, and alsoone of his actions is
contributing to higher hamburgerprices because he put
additional 50% tariffs on Brazil.
So I think he needs briefed onthe beef industry.
Speaker 1 (10:49):
Yeah, let's move on to this tweet here.
Secretary Rollins, talk to meabout this one All the costs
going up.
Speaker 2 (10:59):
Well, she said that they're also looking into
fertilizer.
She specifically mentionedfertilizer and other inputs.
Well, what are they going to do?
You know it'll be curious.
They're going to look into the,maybe the concentration, I
don't know.
There's not we get most of ourinputs now in the chemical area
(11:19):
outside of this great countrybecause I remember in the
eighties through ourover-regulation we drove most of
the fertilizer industry thatwas in Florida big time away to
Eastern Europe, russia, ukraineet cetera.
Yeah, and Canada.
And I think what's going tohappen?
This is just a shot across thebow.
(11:40):
I think that they're going tohuff and puff but not do
anything.
To tell you the truth, Is thatright?
Yeah, I don't, I don't see themgoing going in and and uh,
because if we would have hadthat, the Biden administration
would have done it.
If there's any.
Speaker 1 (11:57):
Of course.
Everyone wants to look good anychance they get.
Speaker 2 (12:00):
I think that well, they were anti-regulatory.
You know concentration people.
But if that didn't happen inthe Biden administration, it's
not going to happen in the Trumpadministration.
They know that the fertilizerusage I mean you know cost are a
problem.
And here's the complexity ofinput prices, tommy.
(12:21):
Prices, tommy.
Whenever you have an aidprogram or an increase in
reference prices under Title I,those almost are built in within
three to six months of inputprices and cash, rents and
farmland prices.
So it's just that's normalprogress.
So how do you deal with that?
(12:41):
How do you deal with it?
Speaker 1 (12:44):
Now this guy he could be.
He's your age, maybe one yearolder.
What do you know about this guy?
Chuck Grassley.
Speaker 2 (12:53):
Chuck is.
I know him quite well.
His daughter, Wendy Speckerman,used to work at Pearl Farmer
when I worked there, Is thatright 80s?
Oh yeah, Wendy Speckerman.
So I got to know Mr Grassleygrassley still calling mr
grassley quite well, he's heardabout a company that it says
here that will no longer makehfcs because of what he calls a
(13:13):
false maha claims.
And you've got the hfcs what ishfcs?
Speaker 1 (13:18):
high fructose corn syrup?
Speaker 2 (13:19):
just the abbreviation and and they're getting hit and
their, their associationleadership oh I can't think of
his name, bodie, I think isreally coming out saying you
know, not only will thissignificantly hurt the HFCS
industry, it'll hurt cornproducers again into the
(13:41):
implications and the potentialdramatic market impacts of the
Make America Healthy Againissues in the future, what with
the coming focus on the highlyprocessed food, the colors, the
right.
Color, the dyes, and they butthe the middle of the
supermarket.
Speaker 1 (13:58):
The middle of the supermarket.
Speaker 2 (14:00):
And they've already extended.
They extended this week HHS andFDA and USDA.
They extended the commentperiod on defining ultra
processed foods.
So it's going to be later, oncewe get the definition, then
you're going to see the realimpact of RFK Jr, who heads up
(14:22):
the MAHA, what he's going to dounder the highly processed foods
, and the American SoybeanAssociation is nervous about it.
They're saying, look, edibleoil is safe, it's healthy,
things like that, but they'reworried about what this new
definition may say on processedmeats and things like that.
So that's one that we'llcontinue to talk about in the
(14:45):
weeks and months ahead.
Speaker 1 (14:46):
Tommy, I was just thinking I'm going to make a
funny if I asked you to writedown how many acronyms you know
three letter and four letter.
How many I know you know FBI,cia, nfa, cftc, fcc, we'll talk
a little bit about the FCC hereat the end of the show, alphabet
soup time.
Speaker 2 (15:05):
It could be a book, it could be a whole book.
Speaker 1 (15:08):
Plead the fifth or drink the fifth.
Whatever you got to do, pleadthe fifth or drink the fifth.
Ncga pool, mr Jim Wiesmeyer.
Ncga pool.
Is this a betting service or isthis a new app?
Speaker 2 (15:33):
What do we got going there?
Yeah, let's show some of theircharts because I think it
reflected the what's going on.
80 percent of farmers, when youdo the maybe and yes, are
pointing to what they say is afarm crisis, and that's really
cash flow.
That was the one thing we knew,that I think most of us are
ready, but this just visiblyshowed it was a survey, I think
Farm Journal did it of 1,000farmers.
But let's go to the next one.
Speaker 1 (15:49):
Yes, sir, mr Weissmeyer, Okay Farm economy.
Speaker 2 (15:53):
Concerns are evident.
Look, they're not onlyconcerned, they're very
concerned.
And again, I think that, echo,you talk to a producer and
you're hearing that wherever yougo.
Well, you talk to a producer andyou're hearing that, wherever
you go, the row crop and threechanges that they're going to
look at to survive in some cases, and look at that Farm
(16:14):
machinery and other aspects.
Let me tilt this down Reducefertilizer application
Historically, that's whatfarmers do, tommy, that's what
farmers do.
Application Historically that'swhat farmers do, tommy, that's
what farmers do.
So, yeah, it's awfully hard tojustify a farm equipment
(16:36):
purchase when you're lookingjust to survive.
In many cases and I rememberthe 1980s that were the
depression in agriculture it'slike what's he meant on my
forehead.
We're not as bad as thatbecause we've got better support
mechanisms.
Speaker 1 (16:48):
Land values are higher, the debt to income ratio
, the amount of.
If you look at the state ofIowa, I do a monthly podcast
with my friend, jim Rothermickfrom the Land Talker.
You probably know him but hecharts land prices, the amount
of widows or older men and womenwho have paid off ground in
(17:10):
iowa.
It's just different.
There's been absolutely.
Some people are hurting verybad and I know we're going to
catch a lot of shit for this,for saying like it ain't that
bad.
There's a bunch of old widowswho own a bunch of ground.
There's the haves and have-notsright now in agriculture and we
have better safeguards.
And, by the way, speaking ofcatching some stuff, you should
see the comments on the video.
(17:31):
They're getting angrier by theweek.
But hey, whatever, be carefulwhat you say, because we've
learned this week words haveconsequences here and we'll talk
about that later.
N-g-f-a study.
I don't know what's going onhere.
Speaker 2 (17:45):
National Grain and Feed Association.
To me this is feel good newsbecause it shows the positive
impact and the importance thegrain and feed industry makes to
the US economy.
And this is why you know lookat the numbers here the number
of jobs, the amount of taxescoming in from the industry, the
overall impact on the USeconomy.
(18:06):
This is why Congress and theWhite House looks upon the
agriculture sector, not just theyou know real crop producers,
but the meat industry, theaffiliated industries.
It's a strategic industry,tommy.
Food is food security and thisis why they do justify economic
(18:28):
aid and disaster aid when theythink it's needed.
And I think this is what thissays.
Now you can go through this,you can Google it NGFA survey
and they have it by state.
So if you're individual state,they show it by each individual
state.
But to me it's a feel-goodsurvey because it shows the
(18:50):
importance that most farmersknow but outside of that, in
this town they need to hear it.
Speaker 1 (18:57):
Absolutely.
Let's look at this countdown,countdown to shutdown.
What are you hearing there?
Speaker 2 (19:03):
Here we go again Now.
Today the House is first goingto.
Now the Speaker, mike Johnson,republican from Louisiana, said
yesterday on Fox News that thevotes were there in the House to
pass what they call a cleancontinuing resolution through
November 21st.
So they have more time to doindividual appropriation bills.
(19:26):
But the Senate on the left, yousee Chuck Schumer and another
Democratic leader, dick Durbinfrom Illinois.
Now Chuck Schumer caught holyheck the last time they had a
continuing resolution where theDemocrats at least the activists
in the Democratic Party saidyou should have gotten something
(19:47):
for those Democratic votes.
That's where the potential for ashutdown exists, because the
Senate, after the House, passestheir continuing resolution CR
we call it stopgap spendingmeasure it'll go to the Senate.
Now.
They want to take off.
Next week, tommy, they're goingto vote on two bills.
(20:07):
They're going to vote on theclean Republican approach or a
Democratic alternative that hasa couple of add-ons that are
Democratic priorities in theObamacare provisions and things,
health care provisions and thatwon't fly either.
(20:28):
The key is are they going toshut down the government?
And if they do, then how dothey come back?
You know how long will ithappen.
And even if they do pass the CR, tommy, the next one coming in
November.
Remember I said the House isNovember 21,.
You up the odds of a governmentshutdown then because the
(20:52):
Republicans are going to have todeliver to some of these
Republican activists in theHouse side.
What I'm signaling is that theodds now are going above 50
percent for a potential shutdown.
I hate that.
Either a short term or a longerterm after November.
What's the impact onagriculture that could impact
(21:14):
the next?
crop production report.
You know if you don't have theservices.
However, we know Trump isdifferent than any president
I've covered in 50 years.
He may have more flexibility tobring government people back
than some people think.
(21:35):
So watch that shoe to fall ifwe do have a government shutdown
.
I just think it's pure politics.
They shouldn't shut down thegovernment.
We know that.
They pay the government workerswhen they come back anyway.
It's just Americans.
This is why Congress bothpolitical parties have very,
(21:56):
very low approval ratings.
Speaker 1 (22:00):
That's, that's not good.
So did we cover this this part.
The Senate approves nominees,or we're going to know.
We did not know that.
Speaker 2 (22:07):
That's good news for USDA.
Three importantundersecretaries, fsa Fordyce,
dudley Hoskins and ScottHutchins in the regulatory arena
.
The impact here is that Rollinscan't do it all.
She's got her deputy secretarya very good guy, steve.
Speaker 1 (22:25):
I like him yeah.
Speaker 2 (22:26):
Yeah, Very good, Very articulate.
But she you know Fordyce,especially at Farm Service
Agency, from Missouri, so heknows agriculture.
Yeah, I met him.
I like him.
He's a very good guy, Knows hisstuff, knows the importance of
the county offices, why youshouldn't cut a staff there.
If anything, that they needmore people in the county
(22:50):
offices.
So bottom line, these are allskilled people and Rollins,
increasingly, is getting herstaff together.
So that's good because she'sout and about selling
agriculture, which she should.
And I've always said the deputysecretary Vaden in this case the
deputy secretary is the gluethat holds USDA together,
(23:11):
because they're typically attheir office most of the time
and they work with Congress onbudget issues et cetera.
So she's got her team in placeand we already know how
aggressive Rollins is.
And she went over to the UKwith Trump showing you the
importance of agriculture inthat framework Now no longer a
(23:32):
framework, it's an agreementwith the United Kingdom.
We're trying to hear Tommy whatif additional ethanol sales
were made or biofuel sales weremade while she was over there?
Because she took a number ofbiofuel company officials from
the US over with her and we'rewaiting for a readout on if any
(23:52):
new developments on that, butit's good news for corn-based
ethanol.
Speaker 1 (23:56):
Okay, hey Jim, we got a little bit of breaking news,
a little bit of price action.
While we were speaking,soybeans went from up two to up
nine.
Jojo, if you got anything, popon or let us know or text me.
But a little positive actionhere in the grain market Corn
just traded up six soybeans upnine.
It could just be a false alert,but we'll see where they close
with that.
Speaker 2 (24:17):
I just think and you know, futures markets are
anticipatory To me I will beshocked if, by the end of the
year, we don't have a new act,trade agreement with China, and
you have to position for that,and I think that's what the
trade is probably doing, letalone the companies that's going
to do the business.
So watch, number one, yourunknown destinations in the next
(24:39):
month or so for soybeans.
Two, watch your freight rates.
Watch your freight rates.
That'll tell you a lot rightthere.
Speaker 1 (24:47):
Well, those in the know will know, and they'll get
it booked up.
All right, here's a, here's a.
Speaker 2 (24:51):
Motley crew fomc meeting another four-letter
acronym federal open marketcommittee and we finally got the
first cuts in about a year.
Yeah, first cuts since december2024 they only cut at 25 basis
points, but I'm not going tocomplain.
At least they cut it when theinterest rate range, the Fed
(25:12):
range, now is four to four and aquarter.
Now Jerome J Powell, who's asmart guy?
He's just dumb when it comes tointerest rates, they should be
lower.
Now the labor market isweakening, he said.
So that was the signal forfurther cuts yet this year.
I think they signaled what theycall their dot map, Tommy.
Speaker 1 (25:31):
Yeah, the dot map.
Speaker 2 (25:32):
October, another cut in October and then another one
in December and the trade thinkseither two or three cuts next
year.
Now that's financing needs forfarmers next year.
So their operating loans aregoing to go down and that's a
good thing.
But the overall economy, he'swatching that labor market.
(25:52):
He knows that since our borderis secure right now you don't
have near the labor pool cominginto the United States as it was
.
So that's reflecting in thetight labor market now and the
rise probably continued rise inthe unemployment rate.
Speaker 1 (26:10):
Okay, we're in the lightning round.
Then we're going to tell peoplehow to get a hold of you and
we're going to talk about a fewthings.
I'm up to USDA CRP announcementsir.
Speaker 2 (26:20):
Oh yeah, we had a big one.
They're getting close, tommy,to the maximum.
They announced this week thatjust shy of 1.8 million acres
were submitted during thevarious CRP sign-up efforts and
they submitted.
Producers submitted a littleover 2.6 million acres.
That's in the general, thecontinuous and the grasslands
(26:44):
sign-up A little over 1.6million.
In grassland signup, 810,000 orso of those were accepted and
just shy of 256,000 weresubmitted during the general
signup, with just over 203,000accepted.
Bottom line interest in thecontinuous signup exceeded
(27:06):
USDA's expectations and sothat's why they had to throttle
back.
I think of some of theeligibility and prioritization.
Now the CRP.
Currently the total enrollmentstands at 25.8 million acres.
Now there's a maximum by law ofa 27 million acre cap.
(27:32):
So that means looking ahead,tommy.
They're not going to be able toaccept and offer many more new
CRP rounds.
That's the bottom line there.
Speaker 1 (27:43):
So we're about capped out, we're there.
Yes, capped out, all right.
Speaker 2 (27:46):
And that's another one If you have a closing of the
government, congress extendedCRP authority beyond the
September 30th expiration of the28th Farm Bill.
Unless they do, they can'tapprove new contracts or
revisions that increase CRPacres.
So that's another importantelement in this continuing
(28:08):
resolution debate.
Bottom line.
A chunk of acres are in thatCRP but it's getting close to
the statutory limit of 27million acres.
Speaker 1 (28:18):
I don't know where you keep all this in your head,
that little hard drive.
You had AI in your head beforeAI and hard drives were cool.
We got three more slides andthen we're going to tell people
how to get ahold of you.
Tell people how to get ahold ofme.
And we're going to ask peopleto click, like and subscribe to
the show, and I know you've been.
We're having a little successwith this show.
Scotus on tariffs.
Speaker 2 (28:39):
That's the biggie because, you'll recall, earlier
in this podcast we said you knowthey're going to be reticent to
tap the $190 billion alreadythat's in there from these new
Trump tariffs until the SupremeCourt of the US.
That's CODIS rules on thelegality because it's moved up
(29:01):
to the Supreme Court.
Big, big, big decision.
In my podcast today, tommy, Igo through.
You know I hate to talk tolawyers, but I talked to about
five lawyers about this earlierthis week and I had to digest
all the stuff they said.
I'd rather cover many otherthings other than that.
(29:22):
However, the bottom line is themajority of lawyers think that
Trump exceeded his legalauthority.
However, the sharpest ones, Ithink, are saying wait a minute,
wait a minute.
It's not an open and shut case,which means when are we going
(29:42):
to get this decision?
They're going to hear oralarguments beginning November the
5th and then, after they hearthe oral arguments, how long
does it take?
It could take until early nextyear for a Supreme Court
decision, but it's big becausethat goes under Trump's
authority on tariffs.
(30:04):
Now we have a conservativetilted Supreme Court.
Now we have a conservativetilted Supreme Court and they
typically have not wanted toweaken the executive branch
authority.
This is murky area here, soit'll be very curious on their
eventual determination, becauseif Trump's tariffs are ruled
(30:25):
illegal, think of the processthey have to go through of
returning all that money.
Speaker 1 (30:33):
Do you think?
Speaker 2 (30:34):
that'll happen, jim.
My bias and then I'm not cockyon this is I think the Supreme
Court are going to rule themlegal.
But if they don't, then theSupreme Court could say, from
this juncture forward, okay,they could do that, so they
don't have to go back and andrefund.
So we'll see.
But that's how important thisis.
Speaker 1 (30:57):
I want to go back a few minutes.
You said, oh, this might happen, that might happen for folks
out there.
There's these betting services.
I'm not encouraging you to doit and the compliance officer is
probably like what are youtalking about?
But these betting services areactually getting approved
through the CFTC when you lookat these things.
So if you want to, if youwanted to I'm not suggesting it,
but if you want to bet on thegovernment shutting down or not
(31:18):
shutting down, there's a servicethat does that right and it's
interesting.
All right, we got that.
That was a six letter acronym,by the way, on the SCOTUS, we're
going down to five-letteracronyms.
Speaker 2 (31:31):
Waters of the US.
We need a revised definitionand my sources are telling me it
could come soon.
Really Now you'll recall, on anearlier podcast I listed as one
of the stars in the cabinet ofthe Trump 2.0 administration the
EPA administrator Zeldin.
(31:53):
Oh hold on, but wait, hey, wegot him, wow Big shout out to
our producer.
Speaker 1 (31:59):
That is a good one, producer.
Dave, he's taking names.
Speaker 2 (32:03):
He is the most ag-friendly EPA administrator
I've ever seen in my fifth well,since Nixon started the EPA
when he was president.
I was still.
I was in doubt then too.
I was in doubt then too, but Ididn't think I'd ever say in one
sentence an ag-friendly EPAadministrator, which means in
(32:25):
this case, wotus.
I think agriculture willfinally get a realistic of the
waters of the US.
Onerous rules and regulations.
That's my bottom line.
On that one, tommy.
Good news is coming.
Dicamba, oh my goodness.
There's another one.
(32:53):
You know, I met, through thesuggestion you gave a couple of
podcasts ago, a group of NorthDakota I'll say farmers, even
though they were here for a cornproducer fly in.
I had dinner with them whenever, wednesday night at one of my
favorite restaurants, trattoria.
Speaker 1 (33:10):
Alberto, I hope they bought, they did buy, they did
buy.
Speaker 2 (33:15):
And I drank agriculture's crop.
I liked that.
So what did you learn I?
Speaker 1 (33:19):
drank agriculture's crop, so and I had.
Speaker 2 (33:20):
Uber.
So what did you learn?
Yeah, well, I learned from themmany things because they had
talked to Senator Holt.
You know North Dakota.
Speaker 1 (33:26):
Yeah, I love John Holt.
Speaker 2 (33:28):
And Kramer and.
Kramer and they werecomplimentary on both of them
and.
But one of the producers turnedto me and he said what's going
to happen with Dicamba?
So I told him, I said I will dosome research and today EPA is
(33:49):
pushing to re-approve Dicamba,despite the previous legal
setbacks, and two months ago EPAsignaled its intent to
unconditionally register threenew dicamba pesticides for
over-the-top usage on soybeansand cotton crop.
Now I had, you know, syngenta,basf and Bayer.
(34:11):
We all want to sell those newproducts next growing season
because they're constricted.
They were constricted in 2025.
I've got a lot more of this inmy daily update, but the bottom
line is oh, they're going to betaken to court once they come
out.
Speaker 1 (34:27):
Oh, yeah, it's just EPA litigation, forget about it.
Speaker 2 (34:32):
Yeah, but I think now they'll see some more
stipulations on the use you know.
So you know they're going tohave to watch out for more
drifts and things like that.
So it'll come, this EPAannouncement like any week.
Now it's going to come withmore restrictions on the use of
(34:54):
Dicamba.
So we're going to have to lookat that.
And of course then states havesome of their own restrictions.
So we're going to have to lookat that and of course then
states have some of their ownrestrictions.
So we're going to have to lookinto individual states too.
And, as I already said,there'll be lawsuits, pushback
and ongoing controversy once itcomes out.
But I would tell that producernow you're going to have the use
(35:16):
of Dicamba for 2026, but watchyour restrictions.
Speaker 1 (35:22):
Okay, very good Folks , you're watching Mr Jim
Wiesmeyer Wiesmeyer'sPerspectives.
This is the Agbo Podcast.
I am Tommy Grisafi.
This is where I go.
Ask you a favor.
I'd really love for you toclick, like and subscribe on all
our socials.
That's X, youtube, instagram,facebook, hell, I'm even on
TikTok Speaking ofiktokpresident trump's meeting with
the z.
As we speak, we did see a shootup in soybeans.
(35:43):
They had since come down withthat.
But mr jim weissmeyer, he is aneasy man to get a hold of.
His newsletter is free.
Why he's so generous, I have noidea, but he is a generous man.
Right here, jim weissmeyer, ifyou email weissmeyer at gmail
W-I-E-S-E-M-E-Y-E-R, every otherletter is an E minus the I, and
(36:06):
I got that son of a gunmemorized.
I could even spell perspectivesalso.
You didn't use any big wordsother than that this week that
threw me off kilter, but oh, bythe way.
By the way, my mom and dad lovewatching the show and we don't
get along on politics at all,but my mom and dad love watching
the show and my dad and my momsaid he is just a ray of
(36:26):
sunshine.
Speaker 2 (36:27):
He tells it how it is .
I'm an equal opportunity fingerpointer when it comes to the
political parties.
Let me tell you.
Speaker 1 (36:34):
Right.
So what I forgot to tell youwas they watch it when they're
having a hard time sleeping.
But no, I not just kidding.
Hey, a special friend of ours.
We got to give a shout out toTyne Morgan.
I believe it's her birthday,Folks, if you know Tyne on
social media.
Give her a big.
She's one of the good ones outhere in Ag.
Yeah, we got to talk about acouple other things real quick,
(36:55):
Real proud of this.
Myself, Joe Grisopi, GinaGrisopi, Real proud of this,
Myself, Joe Grisafi, GinaGrisafi.
We got the new website up,wwwagbullcom for you folks
listening on the interweb.
Jim's show's free.
I'm always sending it out tothe world for free, but we're
creating other shows with otherpeople and people are willing to
pay for information, Jim,People are willing to pay for a
(37:16):
tech service, right?
We text you when the market'smoving, If something big happens
.
Listen, folks, you go out there.
You grow the damn crop.
We'll text you when somethinghappens.
We'll text you suggestions forcash sale advice.
We'll tell you if the cashmarkets are changing and we'll
give you that Intel that we'reproud to produce.
And we do that with our goodfriends behind me.
Nesvik Trading Group.
Speaker 2 (37:37):
And a lot of my friends Tommy have asked me why
did you hook up with Tommy?
I said he's quality stuff.
Speaker 1 (37:44):
Well, thank you.
He's quality Speaking ofquality stuff, so I like that
Plus the Ag Bull.
Thank you.
Speaker 2 (37:51):
You didn't call yourself Ag Bear, so I like Ag
Bull.
Speaker 1 (37:54):
I bought this domain name like 15 years ago.
I was on GoDaddy and I boughtAG Bull and I didn't know what I
was ever going to do with it.
And then, when I started apodcast, it's a good domain,
real quick.
If you're not comfortabletalking about this, don't talk
about it, but I'm comfortabletalking about it.
Jimmy Kimball people say helost his first amendment rights.
That's complete bullshit.
He can have a podcast and hecould live stream today and as
(38:17):
you see what happened over theyears the 2016 election, the
2020 election, the 2024 electionhe did not lose his Twitter
account.
He hasn't been kicked offsocial media.
He still has his right toexpress his opinion, but not for
Disney Corp.
What's Weissmeyer's perspective?
Speaker 2 (38:35):
Yeah, I kind of agree with that.
I remember years ago there usedto be a FCC.
I kind of agree with that.
I remember years ago there usedto be a FCC requirement that
you had to be balanced on TV.
Well, I don't know what yearI'm going to have to do some
research on that.
They got rid of that and that'swhen all hell broke loose.
Tommy A comedian should befunny.
That's correct, and I wouldbehoove the viewers and
(38:59):
listeners to go listen to whatJay Leno a class act guy.
Speaker 1 (39:03):
I watched that clip last night.
Speaker 2 (39:07):
You know you can be balanced on politics.
Speaker 1 (39:09):
Go before him, go Johnny Carson.
What was Johnny?
Speaker 2 (39:11):
Carson, johnny Carson , same way, same way he even got
specific.
Speaker 1 (39:14):
He said if a comedian's getting involved in
politics it's bad, and it'shappened since he's passed.
Speaker 2 (39:21):
Well, it's just like entertainers.
Why would you want to lose halfof your audience, especially
singers, when you get one group?
Because we're a 48 to 52percent country right now.
Why would you want to upsethalf of your potential audience?
That's just dumb.
You can have balance, but Ithink comedians should be funny.
(39:45):
Be a Seinfeld type of a personand there's very few comedians
out there that can skirt thisline anymore and they'll come
back.
But again, first Amendmentrights, as you said.
We have tools for that.
I think he was going to befired anyway.
To tell you the truth.
Speaker 1 (40:05):
His ratings were down .
Yeah, his ratings were down.
His ratings were down and theadvertisers weren't happy with
it.
With that we've went longenough.
I will say you mentionedSeinfeld and Seinfeld has become
extremely vocal on the IsraeliPalestine.
But if we go down that rabbithole, I might not let myself on
(40:26):
my own show.
What the hell.
Speaker 2 (40:30):
It's a cruel world out there at many different
levels.
That's why every time when Iused to travel a lot more
internationally, I kissed thetarmac when I came back to the
United States.
Not that other countries arenot fun to tour, but I love this
country and we have far morefreedoms than if you go to a
(40:50):
number of other countries.
So that's why I think it shouldbe a requirement for school to
go to some of these countries tosee that the United States is
not one of the best.
It's still the best country inthe world.
Speaker 1 (41:04):
Absolutely, folks, if you've enjoyed the show, shoot
Jim Wiesmeyer an email.
It's right there at the bottomof the ticker.
He's an easy man to get aholdof.
His content is the best in theindustry.
Tommy Grisafi coming to youfrom Valparaiso, indiana, today.
Mr Jim Wiesmeyer, folks, if youwant to continue listening to
Jim, head over to Agritalk, Ithink he's going to go kick ass
and take names over there.
Speaker 2 (41:23):
Yeah, in about 20 minutes.
Speaker 1 (41:25):
All right, let me find the button that gets us out
of here.
Jim, I really like the way youended that show.
America is the best country inthe world.
And I'm Bullish Agriculture.
See you, buddy, see you Bye.
happy friday everyone .
Tom grisafi, ag bowl media, agbowl trading.
I'm down here in valparaiso,indiana.
I want to thank my good friendsat nesvic, nesvik Trading.
That's where I partnered withwith Agble Trading.
They're down in Memphis andthey're in Nashville.
If you're ever in Memphis,you're ever in Nashville, come
visit us.
But you're not here to talkabout me.
Enough about me.
(00:34):
Let's bring in the host, theguest, the hostess, with the
mostess.
However they say it, Mr JimWiesmeyer.
Speaker 2 (00:45):
Mr Jim Wiesmeyer.
We have a lot of stuff to talkabout.
Speaker 1 (00:46):
Busy week, busy week, Late breaking news too, all
that stuff, all right.
So virtual hug, let's getstarted.
The stage is yours, sir.
Sure, all right, let's hit it.
Let me see here PresidentTrump's talking to China.
Maybe that meeting's stillgoing on Trump-Z meeting what do
you see in there, my friend?
Speaker 2 (01:02):
Well, I'll tell you, they did have the call.
It started at 9 o'clock amEastern time and they're trying
to stabilize their relationship,which is geopolitically a
little frazzled of late becausethey're the two powers in the
world.
But the good news out of thisis that apparently they set the
stage to meet personally at theAPEC summit which goes on in
(01:27):
South Korea October 31st toNovember 1.
And, importantly, beijingissued a formal state visit
invitation to Trump, and youknow how he likes to have all
the pomp and circumstance of thevisits.
You saw that earlier this weekin the UK.
Circumstance of the visits yousaw that earlier this week in
the UK and the preparations forthat, I've been told, is in the
(01:54):
final stages.
But from an ag perspective, wedon't know yet if they
specifically talked about ag.
But the South China MorningPost that's why you got to
monitor Asian papers too earlierthis week said that they're in
the final stages US and China ofa new trade agreement,
including potential bulkpurchase deals such as Boeing
jets and, for agriculture, ussoybeans.
(02:17):
Now again yeah, the trade willsay, well, how soon can this
happen?
You know a trader wants itright away.
Well, no, it's going toprobably take near the end of
the year and things like that.
But you know it's good news ifthey can bring back US soybeans
with an enforceable new phasetwo or whatever they're going to
call this trade agreement.
(02:37):
Bottom line, tommy, is that wehave some positive steps in the
right direction.
Speaker 1 (02:44):
Yeah, and when we started recording this might be
our fifth or sixth episode youwere very clear on saying it's
going to be to the end of theyear or next year.
China can last quite a whilewithout our beans.
They're going to South Americaand they may have to come over
here.
The explosive thing, jim, iffolks want to hear a bullish
scenario, if South America has aproduction problem, buckle up
(03:05):
buttercup.
These beans will go a lothigher.
China will have to come overhere and sign a deal and Trump
can make a big deal out of itand everything else, absolutely.
Speaker 2 (03:13):
And watch your preposition by the US trade.
If they sense that this tradeagreement is going to take
effect, they're going to want toget a book on.
You know that, Tommy.
As far as the cash market,things like that and shipping, I
don't want to get too complexon on the on the program, but I
wrote a big story, a couple ofstories this week on the
(03:33):
beginning and the not toodistant future.
The U?
S is going to assess a Chineseowned or Chinese built vessels
coming in.
Now that could have been a bignegative for soybeans if we do
have an agreement.
But there's an exemption forthe below 80,000 deadweight
tonnage, you know DWT, and mostof the soybeans fit in that
(03:56):
category.
So, but not all, We've got anumber of US farm exports that
would go corn and that to China.
That would be in those largervessels.
But that's one for the futureto look into because this may be
part of the trade agreementthat China gets the Trump people
to waive that fee on US farmsales to China.
(04:20):
Yeah, I can't say the 100%, butI know that'll be up for
discussion.
Right, and if people want toget, yeah, I can't say the 100%,
but I know that'll be up fordiscussion.
Speaker 1 (04:25):
Right.
And if people want to get yournewsletter because you're
hinting here that you allegedlyhave this newsletter but you've
written all these storiesalready, right, they can get
them if they send you an email.
Speaker 2 (04:35):
Absolutely.
Yeah, I do it every day, as youwell know, sometimes two, three
times a day with individualitems, but my morning one went
out.
What about 9.05 Eastern time?
Today?
It's called Updates and justemail me and I've got a number
of viewers and listeners to thepodcast here have already asked
(04:56):
me to it and they should begetting it.
If they don't, let me know.
Speaker 1 (05:00):
Oh, very good, yeah, and on the top of that
newsletter you keep this show,weissmeyer's Perspectives, the
audio link where they can go toApple, spotify, buzzsprout,
wherever yes, and you also havethe YouTube link and you do
other content.
All right, let's keep movingalong.
We got a lot of stuff to talkabout.
Short time to get there.
Speaker 2 (05:34):
I am keeping an eye on my phone for breaking news
here, but Tara for Leaf, I thinkwe talked about this or we're
going to talk about it.
Well, yeah, and I've saidconsistently and now lawmakers
are starting to say it, andSecretary Rollins said in an
interview with the FinancialTimes yesterday, I think it was
that yes, they're going to havea farmer aid package.
They're really still lookinginto, Tommy, how they're going
to fund it.
Now you'll recall in the firstTrump administration that they
had trade mitigation paymentsthat came out of the Commodity
(05:55):
Credit Corporation CCC CharterAct.
Now that's only down tobillions of dollars.
Right now.
It has a borrowing authority of$30 billion and Congress always
replenishes it at the end ofthe fiscal year, which we're at,
or the beginning of a newfiscal year that starts October
(06:15):
1.
So that'll eventually go backto $30 billion.
But I think what they're lookingat is maybe another funding
mechanism, and there's two.
There's this tariff revenue,but the problem there, tommy, is
that the Supreme Court is goingto rule either late this year
or early next year on thelegality of Trump's tariffs.
(06:35):
So all the billions of dollars,I think they've already taken
in $190 billion Even inWashington.
That's a lot of money.
Yeah, I think that they'regoing to be reticent to tap that
until they get that SupremeCourt ruling.
That again will come as earlyas December, more likely early
(06:56):
next year, although therealready is some tariff money in
there from other trade tariffrevenues.
That's on the up and up thatare not being challenged 301
actions and things like that,and that's a chunk of change.
And by law USDA gets 30% of thattariff funding and that's
(07:20):
section 32.
I'm telling you lawmakers oughtto look into the rewriting of
the use of those Section 32funds.
I suggested that in an item Iwrote this morning.
In other words, give USDA alittle more leeway in accessing
(07:41):
those funds for farmer aid.
But bottom line, for thelisteners it's not a question in
my mind.
The hurt in agriculture is sosignificant that bipartisan
support for another farmer aidpackage Now I know some
listeners out there are going tosome, not all, not the majority
(08:01):
are going to say boy, we wanttrade, not aid.
Speaker 1 (08:04):
We want trade not aid .
Speaker 2 (08:05):
We want trade, not aid, trade not aid.
This town understands that.
But it's going to take a whileto get these controversial trade
policy changes of Trumpunderway and implemented and
until then you've got a cashflow drain out there.
But I hear the listeners whosay you know, let the market
(08:26):
work.
Well, sometimes the marketagain, tommy, you know, can be
pretty brutal.
Speaker 1 (08:31):
And real quick.
Upon recording this here, it'sFriday afternoon.
Soybeans are up two cents,trading 1040.
So if there's breaking newsbefore work, after work, you
know whatever this weekend.
Note that upon recording this,decorne's at 426 and no beans
are up too.
So beans were up a lot morelast night.
Hey, there's been a tweet storm, jim.
Secretary Rollins, I don't knowwho the hell's putting this
(08:51):
stuff out for, but it don't makesense compared to the futures
and options I trade.
Go ahead.
Stage of shares.
You know what I'm going to sayOn Taiwan, just anything, any of
these.
Speaker 2 (09:04):
Well, rollins put out a tweet on X that she said
Taiwan committed to $10 billionin US ag purchases over the next
four years and that would coversoybeans, corn wheat and beef.
Well, let's be blunt on thisone, it was a hyper statement,
it was overstatement, becausetaiwan purchases that anyway.
(09:27):
So I, I you know.
I just wish she wouldn't hypethose things as big and
important news, because it, Imean, it's important to ag, but
they would have purchased itanyway yeah, and she put out
this tweet about wheat.
Speaker 1 (09:41):
You know we're selling record amounts of wheat
and wheat's at multi, multi,multi-year lows.
When you put this little oomphon there, this is what America
first winning looks like.
There's parts of the countrythat wheat almost has a three in
front of it.
Jim, a three, that is notwinning, my friend.
Speaker 2 (10:01):
It's not winning and that's why she's got to be a
little more sensitive to themarket.
Well, ag secretaries typicallyare not market people and that's
when they get in trouble.
And also the presidentsometimes.
You'll recall what was it lastweek President Trump said you
know we've got to do somethingabout the cattle, the beef.
Well you know we're going tohave to teach him the cattle
(10:25):
cycle.
Yeah, you can't turn that beefaround like they did.
The egg market, tommy, and alsoone of his actions is
contributing to higher hamburgerprices because he put
additional 50% tariffs on Brazil.
So I think he needs briefed onthe beef industry.
Speaker 1 (10:49):
Yeah, let's move on to this tweet here.
Secretary Rollins, talk to meabout this one All the costs
going up.
Speaker 2 (10:59):
Well, she said that they're also looking into
fertilizer.
She specifically mentionedfertilizer and other inputs.
Well, what are they going to do?
You know it'll be curious.
They're going to look into the,maybe the concentration, I
don't know.
There's not we get most of ourinputs now in the chemical area
(11:19):
outside of this great countrybecause I remember in the
eighties through ourover-regulation we drove most of
the fertilizer industry thatwas in Florida big time away to
Eastern Europe, russia, ukraineet cetera.
Yeah, and Canada.
And I think what's going tohappen?
This is just a shot across thebow.
(11:40):
I think that they're going tohuff and puff but not do
anything.
To tell you the truth, Is thatright?
Yeah, I don't, I don't see themgoing going in and and uh,
because if we would have hadthat, the Biden administration
would have done it.
If there's any.
Speaker 1 (11:57):
Of course.
Everyone wants to look good anychance they get.
Speaker 2 (12:00):
I think that well, they were anti-regulatory.
You know concentration people.
But if that didn't happen inthe Biden administration, it's
not going to happen in the Trumpadministration.
They know that the fertilizerusage I mean you know cost are a
problem.
And here's the complexity ofinput prices, tommy.
(12:21):
Prices, tommy.
Whenever you have an aidprogram or an increase in
reference prices under Title I,those almost are built in within
three to six months of inputprices and cash, rents and
farmland prices.
So it's just that's normalprogress.
So how do you deal with that?
(12:41):
How do you deal with it?
Speaker 1 (12:44):
Now this guy he could be.
He's your age, maybe one yearolder.
What do you know about this guy?
Chuck Grassley.
Speaker 2 (12:53):
Chuck is.
I know him quite well.
His daughter, Wendy Speckerman,used to work at Pearl Farmer
when I worked there, Is thatright 80s?
Oh yeah, Wendy Speckerman.
So I got to know Mr Grassleygrassley still calling mr
grassley quite well, he's heardabout a company that it says
here that will no longer makehfcs because of what he calls a
(13:13):
false maha claims.
And you've got the hfcs what ishfcs?
Speaker 1 (13:18):
high fructose corn syrup?
Speaker 2 (13:19):
just the abbreviation and and they're getting hit and
their, their associationleadership oh I can't think of
his name, bodie, I think isreally coming out saying you
know, not only will thissignificantly hurt the HFCS
industry, it'll hurt cornproducers again into the
(13:41):
implications and the potentialdramatic market impacts of the
Make America Healthy Againissues in the future, what with
the coming focus on the highlyprocessed food, the colors, the
right.
Color, the dyes, and they butthe the middle of the
supermarket.
Speaker 1 (13:58):
The middle of the supermarket.
Speaker 2 (14:00):
And they've already extended.
They extended this week HHS andFDA and USDA.
They extended the commentperiod on defining ultra
processed foods.
So it's going to be later, oncewe get the definition, then
you're going to see the realimpact of RFK Jr, who heads up
(14:22):
the MAHA, what he's going to dounder the highly processed foods
, and the American SoybeanAssociation is nervous about it.
They're saying, look, edibleoil is safe, it's healthy,
things like that, but they'reworried about what this new
definition may say on processedmeats and things like that.
So that's one that we'llcontinue to talk about in the
(14:45):
weeks and months ahead.
Speaker 1 (14:46):
Tommy, I was just thinking I'm going to make a
funny if I asked you to writedown how many acronyms you know
three letter and four letter.
How many I know you know FBI,cia, nfa, cftc, fcc, we'll talk
a little bit about the FCC hereat the end of the show, alphabet
soup time.
Speaker 2 (15:05):
It could be a book, it could be a whole book.
Speaker 1 (15:08):
Plead the fifth or drink the fifth.
Whatever you got to do, pleadthe fifth or drink the fifth.
Ncga pool, mr Jim Wiesmeyer.
Ncga pool.
Is this a betting service or isthis a new app?
Speaker 2 (15:33):
What do we got going there?
Yeah, let's show some of theircharts because I think it
reflected the what's going on.
80 percent of farmers, when youdo the maybe and yes, are
pointing to what they say is afarm crisis, and that's really
cash flow.
That was the one thing we knew,that I think most of us are
ready, but this just visiblyshowed it was a survey, I think
Farm Journal did it of 1,000farmers.
But let's go to the next one.
Speaker 1 (15:49):
Yes, sir, mr Weissmeyer, Okay Farm economy.
Speaker 2 (15:53):
Concerns are evident.
Look, they're not onlyconcerned, they're very
concerned.
And again, I think that, echo,you talk to a producer and
you're hearing that wherever yougo.
Well, you talk to a producer andyou're hearing that, wherever
you go, the row crop and threechanges that they're going to
look at to survive in some cases, and look at that Farm
(16:14):
machinery and other aspects.
Let me tilt this down Reducefertilizer application
Historically, that's whatfarmers do, tommy, that's what
farmers do.
Application Historically that'swhat farmers do, tommy, that's
what farmers do.
So, yeah, it's awfully hard tojustify a farm equipment
(16:36):
purchase when you're lookingjust to survive.
In many cases and I rememberthe 1980s that were the
depression in agriculture it'slike what's he meant on my
forehead.
We're not as bad as thatbecause we've got better support
mechanisms.
Speaker 1 (16:48):
Land values are higher, the debt to income ratio
, the amount of.
If you look at the state ofIowa, I do a monthly podcast
with my friend, jim Rothermickfrom the Land Talker.
You probably know him but hecharts land prices, the amount
of widows or older men and womenwho have paid off ground in
(17:10):
iowa.
It's just different.
There's been absolutely.
Some people are hurting verybad and I know we're going to
catch a lot of shit for this,for saying like it ain't that
bad.
There's a bunch of old widowswho own a bunch of ground.
There's the haves and have-notsright now in agriculture and we
have better safeguards.
And, by the way, speaking ofcatching some stuff, you should
see the comments on the video.
(17:31):
They're getting angrier by theweek.
But hey, whatever, be carefulwhat you say, because we've
learned this week words haveconsequences here and we'll talk
about that later.
N-g-f-a study.
I don't know what's going onhere.
Speaker 2 (17:45):
National Grain and Feed Association.
To me this is feel good newsbecause it shows the positive
impact and the importance thegrain and feed industry makes to
the US economy.
And this is why you know lookat the numbers here the number
of jobs, the amount of taxescoming in from the industry, the
overall impact on the USeconomy.
(18:06):
This is why Congress and theWhite House looks upon the
agriculture sector, not just theyou know real crop producers,
but the meat industry, theaffiliated industries.
It's a strategic industry,tommy.
Food is food security and thisis why they do justify economic
(18:28):
aid and disaster aid when theythink it's needed.
And I think this is what thissays.
Now you can go through this,you can Google it NGFA survey
and they have it by state.
So if you're individual state,they show it by each individual
state.
But to me it's a feel-goodsurvey because it shows the
(18:50):
importance that most farmersknow but outside of that, in
this town they need to hear it.
Speaker 1 (18:57):
Absolutely.
Let's look at this countdown,countdown to shutdown.
What are you hearing there?
Speaker 2 (19:03):
Here we go again Now.
Today the House is first goingto.
Now the Speaker, mike Johnson,republican from Louisiana, said
yesterday on Fox News that thevotes were there in the House to
pass what they call a cleancontinuing resolution through
November 21st.
So they have more time to doindividual appropriation bills.
(19:26):
But the Senate on the left, yousee Chuck Schumer and another
Democratic leader, dick Durbinfrom Illinois.
Now Chuck Schumer caught holyheck the last time they had a
continuing resolution where theDemocrats at least the activists
in the Democratic Party saidyou should have gotten something
(19:47):
for those Democratic votes.
That's where the potential for ashutdown exists, because the
Senate, after the House, passestheir continuing resolution CR
we call it stopgap spendingmeasure it'll go to the Senate.
Now.
They want to take off.
Next week, tommy, they're goingto vote on two bills.
(20:07):
They're going to vote on theclean Republican approach or a
Democratic alternative that hasa couple of add-ons that are
Democratic priorities in theObamacare provisions and things,
health care provisions and thatwon't fly either.
(20:28):
The key is are they going toshut down the government?
And if they do, then how dothey come back?
You know how long will ithappen.
And even if they do pass the CR, tommy, the next one coming in
November.
Remember I said the House isNovember 21,.
You up the odds of a governmentshutdown then because the
(20:52):
Republicans are going to have todeliver to some of these
Republican activists in theHouse side.
What I'm signaling is that theodds now are going above 50
percent for a potential shutdown.
I hate that.
Either a short term or a longerterm after November.
What's the impact onagriculture that could impact
(21:14):
the next?
crop production report.
You know if you don't have theservices.
However, we know Trump isdifferent than any president
I've covered in 50 years.
He may have more flexibility tobring government people back
than some people think.
(21:35):
So watch that shoe to fall ifwe do have a government shutdown
.
I just think it's pure politics.
They shouldn't shut down thegovernment.
We know that.
They pay the government workerswhen they come back anyway.
It's just Americans.
This is why Congress bothpolitical parties have very,
(21:56):
very low approval ratings.
Speaker 1 (22:00):
That's, that's not good.
So did we cover this this part.
The Senate approves nominees,or we're going to know.
We did not know that.
Speaker 2 (22:07):
That's good news for USDA.
Three importantundersecretaries, fsa Fordyce,
dudley Hoskins and ScottHutchins in the regulatory arena
.
The impact here is that Rollinscan't do it all.
She's got her deputy secretarya very good guy, steve.
Speaker 1 (22:25):
I like him yeah.
Speaker 2 (22:26):
Yeah, Very good, Very articulate.
But she you know Fordyce,especially at Farm Service
Agency, from Missouri, so heknows agriculture.
Yeah, I met him.
I like him.
He's a very good guy, Knows hisstuff, knows the importance of
the county offices, why youshouldn't cut a staff there.
If anything, that they needmore people in the county
(22:50):
offices.
So bottom line, these are allskilled people and Rollins,
increasingly, is getting herstaff together.
So that's good because she'sout and about selling
agriculture, which she should.
And I've always said the deputysecretary Vaden in this case the
deputy secretary is the gluethat holds USDA together,
(23:11):
because they're typically attheir office most of the time
and they work with Congress onbudget issues et cetera.
So she's got her team in placeand we already know how
aggressive Rollins is.
And she went over to the UKwith Trump showing you the
importance of agriculture inthat framework Now no longer a
(23:32):
framework, it's an agreementwith the United Kingdom.
We're trying to hear Tommy whatif additional ethanol sales
were made or biofuel sales weremade while she was over there?
Because she took a number ofbiofuel company officials from
the US over with her and we'rewaiting for a readout on if any
(23:52):
new developments on that, butit's good news for corn-based
ethanol.
Speaker 1 (23:56):
Okay, hey Jim, we got a little bit of breaking news,
a little bit of price action.
While we were speaking,soybeans went from up two to up
nine.
Jojo, if you got anything, popon or let us know or text me.
But a little positive actionhere in the grain market Corn
just traded up six soybeans upnine.
It could just be a false alert,but we'll see where they close
with that.
Speaker 2 (24:17):
I just think and you know, futures markets are
anticipatory To me I will beshocked if, by the end of the
year, we don't have a new act,trade agreement with China, and
you have to position for that,and I think that's what the
trade is probably doing, letalone the companies that's going
to do the business.
So watch, number one, yourunknown destinations in the next
(24:39):
month or so for soybeans.
Two, watch your freight rates.
Watch your freight rates.
That'll tell you a lot rightthere.
Speaker 1 (24:47):
Well, those in the know will know, and they'll get
it booked up.
All right, here's a, here's a.
Speaker 2 (24:51):
Motley crew fomc meeting another four-letter
acronym federal open marketcommittee and we finally got the
first cuts in about a year.
Yeah, first cuts since december2024 they only cut at 25 basis
points, but I'm not going tocomplain.
At least they cut it when theinterest rate range, the Fed
(25:12):
range, now is four to four and aquarter.
Now Jerome J Powell, who's asmart guy?
He's just dumb when it comes tointerest rates, they should be
lower.
Now the labor market isweakening, he said.
So that was the signal forfurther cuts yet this year.
I think they signaled what theycall their dot map, Tommy.
Speaker 1 (25:31):
Yeah, the dot map.
Speaker 2 (25:32):
October, another cut in October and then another one
in December and the trade thinkseither two or three cuts next
year.
Now that's financing needs forfarmers next year.
So their operating loans aregoing to go down and that's a
good thing.
But the overall economy, he'swatching that labor market.
(25:52):
He knows that since our borderis secure right now you don't
have near the labor pool cominginto the United States as it was
.
So that's reflecting in thetight labor market now and the
rise probably continued rise inthe unemployment rate.
Speaker 1 (26:10):
Okay, we're in the lightning round.
Then we're going to tell peoplehow to get a hold of you and
we're going to talk about a fewthings.
I'm up to USDA CRP announcementsir.
Speaker 2 (26:20):
Oh yeah, we had a big one.
They're getting close, tommy,to the maximum.
They announced this week thatjust shy of 1.8 million acres
were submitted during thevarious CRP sign-up efforts and
they submitted.
Producers submitted a littleover 2.6 million acres.
That's in the general, thecontinuous and the grasslands
(26:44):
sign-up A little over 1.6million.
In grassland signup, 810,000 orso of those were accepted and
just shy of 256,000 weresubmitted during the general
signup, with just over 203,000accepted.
Bottom line interest in thecontinuous signup exceeded
(27:06):
USDA's expectations and sothat's why they had to throttle
back.
I think of some of theeligibility and prioritization.
Now the CRP.
Currently the total enrollmentstands at 25.8 million acres.
Now there's a maximum by law ofa 27 million acre cap.
(27:32):
So that means looking ahead,tommy.
They're not going to be able toaccept and offer many more new
CRP rounds.
That's the bottom line there.
Speaker 1 (27:43):
So we're about capped out, we're there.
Yes, capped out, all right.
Speaker 2 (27:46):
And that's another one If you have a closing of the
government, congress extendedCRP authority beyond the
September 30th expiration of the28th Farm Bill.
Unless they do, they can'tapprove new contracts or
revisions that increase CRPacres.
So that's another importantelement in this continuing
(28:08):
resolution debate.
Bottom line.
A chunk of acres are in thatCRP but it's getting close to
the statutory limit of 27million acres.
Speaker 1 (28:18):
I don't know where you keep all this in your head,
that little hard drive.
You had AI in your head beforeAI and hard drives were cool.
We got three more slides andthen we're going to tell people
how to get ahold of you.
Tell people how to get ahold ofme.
And we're going to ask peopleto click, like and subscribe to
the show, and I know you've been.
We're having a little successwith this show.
Scotus on tariffs.
Speaker 2 (28:39):
That's the biggie because, you'll recall, earlier
in this podcast we said you knowthey're going to be reticent to
tap the $190 billion alreadythat's in there from these new
Trump tariffs until the SupremeCourt of the US.
That's CODIS rules on thelegality because it's moved up
(29:01):
to the Supreme Court.
Big, big, big decision.
In my podcast today, tommy, Igo through.
You know I hate to talk tolawyers, but I talked to about
five lawyers about this earlierthis week and I had to digest
all the stuff they said.
I'd rather cover many otherthings other than that.
(29:22):
However, the bottom line is themajority of lawyers think that
Trump exceeded his legalauthority.
However, the sharpest ones, Ithink, are saying wait a minute,
wait a minute.
It's not an open and shut case,which means when are we going
(29:42):
to get this decision?
They're going to hear oralarguments beginning November the
5th and then, after they hearthe oral arguments, how long
does it take?
It could take until early nextyear for a Supreme Court
decision, but it's big becausethat goes under Trump's
authority on tariffs.
(30:04):
Now we have a conservativetilted Supreme Court.
Now we have a conservativetilted Supreme Court and they
typically have not wanted toweaken the executive branch
authority.
This is murky area here, soit'll be very curious on their
eventual determination, becauseif Trump's tariffs are ruled
(30:25):
illegal, think of the processthey have to go through of
returning all that money.
Speaker 1 (30:33):
Do you think?
Speaker 2 (30:34):
that'll happen, jim.
My bias and then I'm not cockyon this is I think the Supreme
Court are going to rule themlegal.
But if they don't, then theSupreme Court could say, from
this juncture forward, okay,they could do that, so they
don't have to go back and andrefund.
So we'll see.
But that's how important thisis.
Speaker 1 (30:57):
I want to go back a few minutes.
You said, oh, this might happen, that might happen for folks
out there.
There's these betting services.
I'm not encouraging you to doit and the compliance officer is
probably like what are youtalking about?
But these betting services areactually getting approved
through the CFTC when you lookat these things.
So if you want to, if youwanted to I'm not suggesting it,
but if you want to bet on thegovernment shutting down or not
(31:18):
shutting down, there's a servicethat does that right and it's
interesting.
All right, we got that.
That was a six letter acronym,by the way, on the SCOTUS, we're
going down to five-letteracronyms.
Speaker 2 (31:31):
Waters of the US.
We need a revised definitionand my sources are telling me it
could come soon.
Really Now you'll recall, on anearlier podcast I listed as one
of the stars in the cabinet ofthe Trump 2.0 administration the
EPA administrator Zeldin.
(31:53):
Oh hold on, but wait, hey, wegot him, wow Big shout out to
our producer.
Speaker 1 (31:59):
That is a good one, producer.
Dave, he's taking names.
Speaker 2 (32:03):
He is the most ag-friendly EPA administrator
I've ever seen in my fifth well,since Nixon started the EPA
when he was president.
I was still.
I was in doubt then too.
I was in doubt then too, but Ididn't think I'd ever say in one
sentence an ag-friendly EPAadministrator, which means in
(32:25):
this case, wotus.
I think agriculture willfinally get a realistic of the
waters of the US.
Onerous rules and regulations.
That's my bottom line.
On that one, tommy.
Good news is coming.
Dicamba, oh my goodness.
There's another one.
(32:53):
You know, I met, through thesuggestion you gave a couple of
podcasts ago, a group of NorthDakota I'll say farmers, even
though they were here for a cornproducer fly in.
I had dinner with them whenever, wednesday night at one of my
favorite restaurants, trattoria.
Speaker 1 (33:10):
Alberto, I hope they bought, they did buy, they did
buy.
Speaker 2 (33:15):
And I drank agriculture's crop.
I liked that.
So what did you learn I?
Speaker 1 (33:19):
drank agriculture's crop, so and I had.
Speaker 2 (33:20):
Uber.
So what did you learn?
Yeah, well, I learned from themmany things because they had
talked to Senator Holt.
You know North Dakota.
Speaker 1 (33:26):
Yeah, I love John Holt.
Speaker 2 (33:28):
And Kramer and.
Kramer and they werecomplimentary on both of them
and.
But one of the producers turnedto me and he said what's going
to happen with Dicamba?
So I told him, I said I will dosome research and today EPA is
(33:49):
pushing to re-approve Dicamba,despite the previous legal
setbacks, and two months ago EPAsignaled its intent to
unconditionally register threenew dicamba pesticides for
over-the-top usage on soybeansand cotton crop.
Now I had, you know, syngenta,basf and Bayer.
(34:11):
We all want to sell those newproducts next growing season
because they're constricted.
They were constricted in 2025.
I've got a lot more of this inmy daily update, but the bottom
line is oh, they're going to betaken to court once they come
out.
Speaker 1 (34:27):
Oh, yeah, it's just EPA litigation, forget about it.
Speaker 2 (34:32):
Yeah, but I think now they'll see some more
stipulations on the use you know.
So you know they're going tohave to watch out for more
drifts and things like that.
So it'll come, this EPAannouncement like any week.
Now it's going to come withmore restrictions on the use of
(34:54):
Dicamba.
So we're going to have to lookat that.
And of course then states havesome of their own restrictions.
So we're going to have to lookat that and of course then
states have some of their ownrestrictions.
So we're going to have to lookinto individual states too.
And, as I already said,there'll be lawsuits, pushback
and ongoing controversy once itcomes out.
But I would tell that producernow you're going to have the use
(35:16):
of Dicamba for 2026, but watchyour restrictions.
Speaker 1 (35:22):
Okay, very good Folks , you're watching Mr Jim
Wiesmeyer Wiesmeyer'sPerspectives.
This is the Agbo Podcast.
I am Tommy Grisafi.
This is where I go.
Ask you a favor.
I'd really love for you toclick, like and subscribe on all
our socials.
That's X, youtube, instagram,facebook, hell, I'm even on
TikTok Speaking ofiktokpresident trump's meeting with
the z.
As we speak, we did see a shootup in soybeans.
(35:43):
They had since come down withthat.
But mr jim weissmeyer, he is aneasy man to get a hold of.
His newsletter is free.
Why he's so generous, I have noidea, but he is a generous man.
Right here, jim weissmeyer, ifyou email weissmeyer at gmail
W-I-E-S-E-M-E-Y-E-R, every otherletter is an E minus the I, and
(36:06):
I got that son of a gunmemorized.
I could even spell perspectivesalso.
You didn't use any big wordsother than that this week that
threw me off kilter, but oh, bythe way.
By the way, my mom and dad lovewatching the show and we don't
get along on politics at all,but my mom and dad love watching
the show and my dad and my momsaid he is just a ray of
(36:26):
sunshine.
Speaker 2 (36:27):
He tells it how it is .
I'm an equal opportunity fingerpointer when it comes to the
political parties.
Let me tell you.
Speaker 1 (36:34):
Right.
So what I forgot to tell youwas they watch it when they're
having a hard time sleeping.
But no, I not just kidding.
Hey, a special friend of ours.
We got to give a shout out toTyne Morgan.
I believe it's her birthday,Folks, if you know Tyne on
social media.
Give her a big.
She's one of the good ones outhere in Ag.
Yeah, we got to talk about acouple other things real quick,
(36:55):
Real proud of this.
Myself, Joe Grisopi, GinaGrisopi, Real proud of this,
Myself, Joe Grisafi, GinaGrisafi.
We got the new website up,wwwagbullcom for you folks
listening on the interweb.
Jim's show's free.
I'm always sending it out tothe world for free, but we're
creating other shows with otherpeople and people are willing to
pay for information, Jim,People are willing to pay for a
(37:16):
tech service, right?
We text you when the market'smoving, If something big happens
.
Listen, folks, you go out there.
You grow the damn crop.
We'll text you when somethinghappens.
We'll text you suggestions forcash sale advice.
We'll tell you if the cashmarkets are changing and we'll
give you that Intel that we'reproud to produce.
And we do that with our goodfriends behind me.
Nesvik Trading Group.
Speaker 2 (37:37):
And a lot of my friends Tommy have asked me why
did you hook up with Tommy?
I said he's quality stuff.
Speaker 1 (37:44):
Well, thank you.
He's quality Speaking ofquality stuff, so I like that
Plus the Ag Bull.
Thank you.
Speaker 2 (37:51):
You didn't call yourself Ag Bear, so I like Ag
Bull.
Speaker 1 (37:54):
I bought this domain name like 15 years ago.
I was on GoDaddy and I boughtAG Bull and I didn't know what I
was ever going to do with it.
And then, when I started apodcast, it's a good domain,
real quick.
If you're not comfortabletalking about this, don't talk
about it, but I'm comfortabletalking about it.
Jimmy Kimball people say helost his first amendment rights.
That's complete bullshit.
He can have a podcast and hecould live stream today and as
(38:17):
you see what happened over theyears the 2016 election, the
2020 election, the 2024 electionhe did not lose his Twitter
account.
He hasn't been kicked offsocial media.
He still has his right toexpress his opinion, but not for
Disney Corp.
What's Weissmeyer's perspective?
Speaker 2 (38:35):
Yeah, I kind of agree with that.
I remember years ago there usedto be a FCC.
I kind of agree with that.
I remember years ago there usedto be a FCC requirement that
you had to be balanced on TV.
Well, I don't know what yearI'm going to have to do some
research on that.
They got rid of that and that'swhen all hell broke loose.
Tommy A comedian should befunny.
That's correct, and I wouldbehoove the viewers and
(38:59):
listeners to go listen to whatJay Leno a class act guy.
Speaker 1 (39:03):
I watched that clip last night.
Speaker 2 (39:07):
You know you can be balanced on politics.
Speaker 1 (39:09):
Go before him, go Johnny Carson.
What was Johnny?
Speaker 2 (39:11):
Carson, johnny Carson , same way, same way he even got
specific.
Speaker 1 (39:14):
He said if a comedian's getting involved in
politics it's bad, and it'shappened since he's passed.
Speaker 2 (39:21):
Well, it's just like entertainers.
Why would you want to lose halfof your audience, especially
singers, when you get one group?
Because we're a 48 to 52percent country right now.
Why would you want to upsethalf of your potential audience?
That's just dumb.
You can have balance, but Ithink comedians should be funny.
(39:45):
Be a Seinfeld type of a personand there's very few comedians
out there that can skirt thisline anymore and they'll come
back.
But again, first Amendmentrights, as you said.
We have tools for that.
I think he was going to befired anyway.
To tell you the truth.
Speaker 1 (40:05):
His ratings were down .
Yeah, his ratings were down.
His ratings were down and theadvertisers weren't happy with
it.
With that we've went longenough.
I will say you mentionedSeinfeld and Seinfeld has become
extremely vocal on the IsraeliPalestine.
But if we go down that rabbithole, I might not let myself on
(40:26):
my own show.
What the hell.
Speaker 2 (40:30):
It's a cruel world out there at many different
levels.
That's why every time when Iused to travel a lot more
internationally, I kissed thetarmac when I came back to the
United States.
Not that other countries arenot fun to tour, but I love this
country and we have far morefreedoms than if you go to a
(40:50):
number of other countries.
So that's why I think it shouldbe a requirement for school to
go to some of these countries tosee that the United States is
not one of the best.
It's still the best country inthe world.
Speaker 1 (41:04):
Absolutely, folks, if you've enjoyed the show, shoot
Jim Wiesmeyer an email.
It's right there at the bottomof the ticker.
He's an easy man to get aholdof.
His content is the best in theindustry.
Tommy Grisafi coming to youfrom Valparaiso, indiana, today.
Mr Jim Wiesmeyer, folks, if youwant to continue listening to
Jim, head over to Agritalk, Ithink he's going to go kick ass
and take names over there.
Speaker 2 (41:23):
Yeah, in about 20 minutes.
Speaker 1 (41:25):
All right, let me find the button that gets us out
of here.
Jim, I really like the way youended that show.
America is the best country inthe world.
And I'm Bullish Agriculture.
See you, buddy, see you Bye.
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I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
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.