Speaker 1: Good morning it is monday March 21st 2000 and 22
Speaker 1: this is D. C. Signal to noise since we last
Speaker 1: talked volatility in the grain markets remains even with corn
Speaker 1: and bean prices
Speaker 1: Pivoting around key price levels. The Federal Reserve raised interest
Speaker 1: rates one quarter of a point
Speaker 1: spring sprung
Speaker 1: I and Iowa State University sent not one but two
Speaker 1: teams to the Sweet 16. And
Speaker 1: my bracket my bracket is in the top 10 of
Speaker 1: the agweb bracket buster challenge. I'm Agra tacos chip Flory
Speaker 1: that is pro farmer policy analyst Jim Wiesemeyer. Good morning jim.
Speaker 2: Good morning. I got my new iPhone Pearl Max 13 Green.
Speaker 2: I'm happy
Speaker 1: I've got a new iPhone 13.
Speaker 2: Is it pro max?
Speaker 1: No because I'm not special enough to have pro max.
Speaker 2: Well I was going to wait until the 14 but
Speaker 2: I went with a friend who got a new one
Speaker 2: for himself
Speaker 1: and I'm
Speaker 2: such a stop. I just couldn't resist
Speaker 1: couldn't resist it couldn't resist it. I'm telling you So
Speaker 1: last night I was on twitter a little bit during
Speaker 1: the basketball games
Speaker 1: and during the women's game, my wife and I are
Speaker 1: big Iowa State women's fans
Speaker 1: And uh
Speaker 1: we're watching the game and I made this comment about
Speaker 1: Emily Ryan having a spectacular game
Speaker 1: and her uncle tweeted me back and said I'm a
Speaker 1: little biased but Emily is having a great game. My
Speaker 1: you know my niece Emily is having a great,
Speaker 1: I couldn't believe it. It was fantastic. Fantastic. So I
Speaker 1: find out that Emily's dad is an ag teacher. I'm
Speaker 1: gonna be reaching out to him this week
Speaker 1: I'm gonna be reaching out to him this week. Absolutely.
Speaker 1: That's the good
Speaker 2: side of of of the social
Speaker 1: that that's the whole reason for social media right there.
Speaker 1: It's not for me to tell somebody why they're wrong
Speaker 1: in their thinking on anything jim jim jim jim Hey
Speaker 1: Last week March 17
Speaker 1: marked the start of Pro farmers. 50th year of service
Speaker 1: and you've been involved in most of those
Speaker 2: most of those all. But I think six or seven years,
Speaker 2: you know the Pro farmer tried to hire me once
Speaker 2: and then I turned them down and then they came
Speaker 2: back
Speaker 2: I think a year later and offered me a trip
Speaker 2: to china that I could reach that sealed it.
Speaker 1: That sealed it up. Yeah. Um I got to be
Speaker 1: the editor of that newsletter for 17 years.
Speaker 1: Uh worked for directly with with Pro Farmer for 25
Speaker 1: you and I had some great great times uh
Speaker 2: dancing,
Speaker 1: getting out there on the road and doing seminars and everything.
Speaker 1: My guys
Speaker 2: early days and even now and
Speaker 2: we're a print publication who has survived. And I think
Speaker 2: that says a lot right there and we've got some
Speaker 2: special issues in store. I in fact I told brian
Speaker 2: Grady the current editor today I have one that I
Speaker 2: want to call uh Pro Farmer 50 50 looking back
Speaker 2: 50 years and then looking ahead 50 years
Speaker 2: and talking with the original too
Speaker 2: owners, Meryl Foster and jerry Carlson and if you can
Speaker 2: limit them to one page, that's successful.
Speaker 1: You got that right?
Speaker 1: Yeah, no doubt. No doubt. Yeah. I'm, I'm looking forward
Speaker 1: to a big celebration in the year ahead. It's uh,
Speaker 1: it's really special. Okay. You piqued my interest before we
Speaker 1: went on the air. I'll just ask you what's going
Speaker 1: on with corn.
Speaker 2: One of my china watchers gave me a cryptic line.
Speaker 2: If you see corn limit up one day and don't
Speaker 2: really know the reason why
Speaker 2: it's china coming in. Big time to the U. S.
Speaker 2: Corn market.
Speaker 1: Well, um, last week, last week they came right out
Speaker 1: and said that they had six million tons of corn
Speaker 1: that they bought in Ukraine that they're not going to
Speaker 1: get their hands on.
Speaker 1: Um, so I, I guess it,
Speaker 1: it wouldn't surprise me if we go back to the
Speaker 1: start of the month.
Speaker 1: I had a conversation with steve freed from ADM investor
Speaker 1: services
Speaker 1: and he made a comment that
Speaker 1: the, uh, that the corn booking pace second half of
Speaker 1: march through april was going to blow everybody
Speaker 2: away.
Speaker 1: Um, so this may have been something that was scheduled,
Speaker 1: but it, we've been waiting for china to come in
Speaker 1: and buy corn for quite some time and the fact
Speaker 1: that they're not going to get that corner out of
Speaker 1: Ukraine only ups the odds. I think that it's gonna happen.
Speaker 2: Yeah. You know, if the longer it goes in Ukraine,
Speaker 2: you know, the, the beauty about doing a
Speaker 2: a media watch chip each morning, which I do,
Speaker 2: uh, you can get a consensus of what the major
Speaker 2: media is focusing on. And today I thought this morning again,
Speaker 2: I told brian Grady, you know, boy now they're focusing
Speaker 2: on not only
Speaker 2: uh, the lack of production in Ukraine and the logistics problems,
Speaker 2: but then the fertilizer issue Canada, uh, you know, glitch
Speaker 2: with their strike, if you will or you won't work stoppage.
Speaker 2: And absolutely, and, and that just, it just jelled today.
Speaker 2: And I thought, oh wow. You know, it has hit
Speaker 2: the new york times, the Washington post, the Wall Street Journal. So, uh,
Speaker 2: I think we're here right now and heavy focus on it.
Speaker 1: Okay.
Speaker 1: Um, yeah, I, I was going to start off with
Speaker 1: the biggest question I think from last week that the
Speaker 1: markets was, was dealing with
Speaker 1: uh, is will Ukraine get a crop planted. Um,
Speaker 1: in my opinion, it's increasingly unlikely
Speaker 1: that
Speaker 1: that Ukraine is going to plant enough of a crop
Speaker 1: that they will be a player
Speaker 1: in the export market in the year ahead. I just
Speaker 1: don't see it happening.
Speaker 2: And, and their president is just pleading for for, for fuel,
Speaker 2: you know, fired. So it again, it's starting to add
Speaker 2: up and then the, the linkage on that is chip,
Speaker 2: the
Speaker 2: the F. A. O. And the United Nations is saying
Speaker 2: some of the food security problems that are
Speaker 2: escalating, especially in the emerging markets and and and less
Speaker 2: developing countries. So it's all tying in together. We haven't
Speaker 2: seen this type of food price run up since the
Speaker 2: mid seventies, so, and USDA on friday is going to
Speaker 2: come out with another food price outlook
Speaker 2: report and they're going to have to increase their food
Speaker 2: price forecast
Speaker 2: again again,
Speaker 1: yep. And we've seen the kind of increase in food
Speaker 1: prices around the globe. That social unrest, it's just a
Speaker 1: matter of time, isn't it? Jim before we see some
Speaker 1: of the vulnerable areas of the world, the hotspots,
Speaker 1: you start to show us some some social unrest,
Speaker 2: some african nations and uh you know, it's usually services
Speaker 2: in the in the Mideast and I know Egypt is
Speaker 2: very sensitive on the, on the wheat sector. One thing
Speaker 2: is India is really increasing. I think your wheat prices
Speaker 2: would be higher had it not been for
Speaker 2: India really increasing the, you know, their wheat exports.
Speaker 2: So I think that has tempered the wheat prices recently
Speaker 2: where we could have seen the high, I don't know
Speaker 2: as a result of that.
Speaker 1: Yeah, there's a lot of concern about the quality of that,
Speaker 1: that supply that's coming out of
Speaker 2: India. Yeah.
Speaker 1: So um I I think that's going to be an
Speaker 1: issue in the week ahead. Hey, just a reminder to
Speaker 1: everybody that there if you want to participate in the
Speaker 1: conversation this morning,
Speaker 1: there is a comments tab at the bottom
Speaker 1: or I'm sorry on the right side of the page.
Speaker 1: If you click on that, it will bring up a
Speaker 1: dialog box for you too.
Speaker 1: Jump into the conversation, which Garry already has is D. C.
Speaker 1: Taking country seriously about abandoning the U. S.
Speaker 2: Petro dollar,
Speaker 1: Petro dollar.
Speaker 2: I don't know what
Speaker 1: uh petroleum dollar, that'd be the default currency.
Speaker 2: Yeah. I don't not know.
Speaker 1: They're not.
Speaker 2: Absolutely not.
Speaker 2: Yeah and china now I think they're china is going
Speaker 2: to make inroads relative to the you know, Russian situation.
Speaker 2: But when you compare if you even link china and Russia,
Speaker 2: uh their economies, their trade policy, their trade etcetera versus
Speaker 2: the U. S. And our allies.
Speaker 2: It's not a close contest. Uh We would still win
Speaker 2: that one but but it's going to be tempered, there's
Speaker 2: no doubt about
Speaker 1: it.
Speaker 1: Okay.
Speaker 2: But I did want to point out chip, we have
Speaker 2: a number of more than a few southern listeners and
Speaker 2: and I caught on over the weekend. Rice world rice
Speaker 2: now is being priced in as a feed
Speaker 2: Component and it's what about 84
Speaker 2: uh you know, you know, versus corn and protein, 84%
Speaker 2: of the protein in corn. So we could whittle down
Speaker 2: uh those uh rice stocks around the world. So I
Speaker 2: would I'm gonna watch that one in the months ahead.
Speaker 1: Okay.
Speaker 1: Yeah that's not gonna last long. Rice has been so
Speaker 1: slow
Speaker 1: to engage in the the rally,
Speaker 1: what it does
Speaker 1: just get out of its way. Don't don't stand in
Speaker 1: the way of that thing because when it finally engages
Speaker 1: in this rally, it's gonna be fireworks for the rice market.
Speaker 1: No question. Okay. Hey, tell me more about the Canadian
Speaker 1: pacific rail lockout.
Speaker 2: Well, over the weekend we had a number of provinces
Speaker 2: leaders in Canada, right Trudeau wanting him to step in.
Speaker 2: But that takes parliament in in Canada to uh okay
Speaker 2: at Chip and they come back much like the U. S.
Speaker 2: House this week in the US.
Speaker 2: I'm sorry the Senate the House is out uh that
Speaker 2: they have to come in and they're coming back today.
Speaker 2: So I know Sean Haney has told us, he doesn't
Speaker 2: think that will happen in the short term. But
Speaker 2: uh the longer it goes the more pressure it will
Speaker 2: be on their, you know, Prime Minister there, their leader
Speaker 2: Justin Trudeau. Uh So and you can see it and
Speaker 2: and but you know, those negotiations began last september chip. So,
Speaker 2: you know, it's it shows you
Speaker 2: how long these talks go on before they really get
Speaker 2: to the pressure point.
Speaker 1: Right.
Speaker 1: Right, okay. Another item that I want to focus on
Speaker 1: from from last week
Speaker 1: was the call between president biden and chinese president G
Speaker 1: what did we learn from that?
Speaker 2: Well, I learned that g focused more on Taiwan, I
Speaker 2: think he more than had more than a few words
Speaker 2: to biden about Taiwan like hands off it, we're still
Speaker 2: one country
Speaker 2: et cetera where
Speaker 2: the White House quickly spun
Speaker 2: the strong words that biden told
Speaker 2: relative to their watching relative to any any significant help
Speaker 2: that china gives, you know, you know Russia. So uh
Speaker 2: you know, they got their talking points. I didn't see
Speaker 2: any significant movement
Speaker 2: toward seeking a piece
Speaker 2: cord chip. And in fact over the weekend we saw
Speaker 2: that Ukraine
Speaker 2: turned down the latest peace overtures from Russia because they
Speaker 2: were
Speaker 2: too strident.
Speaker 1: Well Russia asked for the surrender of
Speaker 1: what is it mary up all.
Speaker 1: Um
Speaker 1: they're not, I I don't think Ukraine is going to
Speaker 1: surrender anything, are they?
Speaker 2: No, no and they shouldn't and they shouldn't. There's a
Speaker 2: Wall Street Journal editorial say uh that uh this morning
Speaker 2: saying uh um like Maggie Thatcher said to Herbert walker bush,
Speaker 2: don't get wobbly now, you know,
Speaker 2: and they're saying increase your help
Speaker 2: to Ukraine NATO now is the time because basically it's
Speaker 2: a stalemate chip. I mean they they now they're bombing there.
Speaker 2: Really raping the mirror pool. That it's it's just hard
Speaker 2: what what is going on there. Uh and that's the
Speaker 2: Russian game plan that to just
Speaker 2: pillar age
Speaker 2: uh you know, city. So and you cannot have an
Speaker 2: off ramp
Speaker 2: for their leader. Vladimir Putin in a situation
Speaker 2: like that. I think it's almost too late.
Speaker 2: Yeah.
Speaker 1: Oh no it is too late. It in my opinion.
Speaker 1: If if
Speaker 1: you know you see the pictures of the tanks that
Speaker 1: are abandoned because they're out of fuel.
Speaker 2: Okay.
Speaker 1: Uh, the Ukrainian farmers
Speaker 1: backing up to them and hooking chains on and, and
Speaker 1: towing them away with tractors. It, uh, it's absolutely
Speaker 1: astonishing to see
Speaker 1: happen,
Speaker 1: what is happening
Speaker 1: and
Speaker 1: for for a period of time, jim I was thinking
Speaker 1: he just hasn't unleashed all of the fury
Speaker 1: of the Russian army yet. I'm not too sure about
Speaker 1: that now. It's starting to feel like
Speaker 1: the fury was never there.
Speaker 2: That the quality of of their military plus uh Putin
Speaker 2: is more than nervous right now of the uprisings going
Speaker 2: on in his own country against him. So he's more
Speaker 2: than looking behind his shoulder chip, if you know what
Speaker 2: I mean.
Speaker 2: And also more than a few are leaving Russia in
Speaker 2: droves
Speaker 2: because they liked the uh, the prior geopolitics uh, that
Speaker 2: they got into the global world and they're seeing a
Speaker 2: life ahead. That is not going to be fun for them.
Speaker 1: Right, Right.
Speaker 1: Um
Speaker 1: Vice President Harris
Speaker 1: went to Poland
Speaker 1: and the trip was such a disaster
Speaker 1: that they've decided to send in her boss.
Speaker 1: I I hope it goes better this time with with
Speaker 1: President biden.
Speaker 2: I think he, he at least knows talking points. I
Speaker 2: just cannot understand our articulate the problems of our Vice
Speaker 2: president and I never like to see a weak leadership
Speaker 2: in the country and she she's weak. She she's not
Speaker 2: articulate
Speaker 2: of course she has a habit of laughing at the
Speaker 2: wrong time. You know if if I was a comedian
Speaker 2: I'd want her in my audience. I'll tell you that.
Speaker 2: But I'm not a comedian. She's just she's just not
Speaker 2: not up to the job. And and I really hate
Speaker 2: saying that I really do
Speaker 1: President Ukrainian President Zelensky, he's addressed to the U. S.
Speaker 1: Congress last week. Jim
Speaker 1: uh when uh
Speaker 1: what when speaker Pelosi
Speaker 1: introduced him?
Speaker 1: It was
Speaker 1: almost as if
Speaker 1: she was she
Speaker 1: there was glee in her voice for a very solemn event.
Speaker 1: She was just she she was out of her mind
Speaker 1: that she was able to introduce
Speaker 1: Ukrainian President Zelensky.
Speaker 1: Um
Speaker 1: It was it was just strange it's
Speaker 1: it
Speaker 1: there's such a bad read on the situation
Speaker 1: from key players in U. S. Politics
Speaker 1: that
Speaker 1: I don't blame Zelensky for wondering if the U. S.
Speaker 1: Is taking the situation seriously.
Speaker 2: Yeah. Well he he was direct on biden. He as
Speaker 2: the world he wants him to lead.
Speaker 2: He doesn't need to lead from behind. So we're going
Speaker 2: to see what the uh you know this morning biden
Speaker 2: is talking with our european and NATO allies and then
Speaker 2: of course then he's going to go over to brussels
Speaker 2: later for the NATO
Speaker 2: event. So let's let's let's hope our leader rises to
Speaker 2: the occasion.
Speaker 1: Yeah I hope so. I hope so for sure. You
Speaker 1: mentioned the media being focused on rising food prices
Speaker 1: probably should be.
Speaker 1: Um President biden is going to have a conversation
Speaker 1: with Exxon and I would imagine other energy producers.
Speaker 1: Yeah,
Speaker 1: he's already blamed them for high gas prices. Well, that
Speaker 1: was before he blamed Putin. So
Speaker 1: I don't know what's the guy who's, who's he gonna
Speaker 1: blame now?
Speaker 2: Well, he has to show action no matter whether or
Speaker 2: not it will have impacts or not. So that's from
Speaker 2: a white house,
Speaker 2: you know, perspective, you have to say that you're jawboning,
Speaker 2: but you know, take, you know, I, I don't have
Speaker 2: to defend the oil industry. But what I hear from
Speaker 2: them is saying, look, even on fracking, we could be
Speaker 2: up to 15 to 20%
Speaker 2: on fracking, but that won't get us out of the
Speaker 2: woods because you're not going to have a significant increase
Speaker 2: in fracking if you're given that industry the signal which
Speaker 2: the biden administration has that they're going to continue to
Speaker 2: regulate it and you cannot get investment dollars for that from,
Speaker 2: from the community when that when they're no, they're going
Speaker 2: to
Speaker 2: put shackles on you. And that's the problem. And the
Speaker 2: american public is smarter when they hear the president and
Speaker 2: others in his administration tried to blame. Putin for the
Speaker 2: gas price run up.
Speaker 2: The first dollar increase was as a result of, of
Speaker 2: a host of reasons, not just the administration's reasons, but,
Speaker 2: but a lot of it with the regulatory side, the
Speaker 2: pipeline situation, etcetera. On the on the Keystone XL pipeline,
Speaker 2: but the last 75 cents or so has been as
Speaker 2: a result of the, of the war
Speaker 2: on Ukraine.
Speaker 1: Yeah, I'd say that's about right. I'd say that's about
Speaker 1: right on, on how you've got that split up. It's
Speaker 1: a confidence
Speaker 2: on the food angle, uh, Secretary Vilsack, who, who I
Speaker 2: think is one of the most articulate cabinet members and
Speaker 2: what we said, I said on it,
Speaker 2: agritalk on friday. I cannot imagine why the
Speaker 2: network news shows on the sunday news shows don't invite him.
Speaker 2: Yes, he would be a great news maker, because he can,
Speaker 2: he knows how to connect dots
Speaker 2: and, and, and, and he knows the the importance of exports,
Speaker 2: because when he was at the dairy industry group and,
Speaker 2: and he has seen it. So, I think we do
Speaker 2: need a leader to tie in a, a lot of
Speaker 2: aspects of this,
Speaker 2: but he's concerned about a growing number of countries that
Speaker 2: are pulling in relative to trade, stopping fertilizer exports, stopping, uh,
Speaker 2: you know, food exports, etcetera. So, we need a voice
Speaker 2: like his to say, hey, don't, don't take strident actions here,
Speaker 2: because you're gonna make it worse, not better.
Speaker 1: Right. Right.
Speaker 1: Well, Vilsack was good on trade
Speaker 1: in the last
Speaker 1: what, five years of the Obama of his term under
Speaker 1: the Obama administration. So
Speaker 1: he's he's very good on trade has, has
Speaker 1: been for quite some time. And he's good on trade
Speaker 1: right now. It's just that
Speaker 1: he's been told to prioritize in other areas.
Speaker 2: He, yeah, he's limited in the trade area, what you
Speaker 2: can say.
Speaker 2: And, uh, but he was early on saying, we've got
Speaker 2: too many eggs in one basket being china. And that
Speaker 2: was before the, you know, Russian invasion. And, and he
Speaker 2: was right there, It was an accident waiting to happen.
Speaker 2: That that that didn't mean that he he didn't want
Speaker 2: the business with china. He just knew that you're just
Speaker 2: a matter of
Speaker 2: geopolitics that we're seeing right now, that this trade is vulnerable.
Speaker 1: Right. Right, okay.
Speaker 1: Um, let's move on. The the biden budget is coming
Speaker 1: our way in a week.
Speaker 1: Uh, little we should get it next monday.
Speaker 1: What what are the,
Speaker 1: uh,
Speaker 1: the requests
Speaker 1: to change the corporate and individual tax codes?
Speaker 2: They're gonna go after the wealthy, the 1% again. And
Speaker 2: they're gonna, you know, show that again. But I don't
Speaker 2: think it's going to go very far at all. And
Speaker 2: and on the budget chip. I I just, I'm so
Speaker 2: negative in this town on budgets and not just the
Speaker 2: White House budget that it's late again, that we just
Speaker 2: got through the fiscal year 2022 budget almost six months late.
Speaker 2: You know, and I know appropriators from both political parties,
Speaker 2: hard workers, their staff, but I'm sorry. You didn't get
Speaker 2: your work done and it took you a half a
Speaker 2: year
Speaker 2: into a fiscal year.
Speaker 2: You know, it's just, uh, that whole budget process needs
Speaker 2: to be reformed, uh more like the state levels, a
Speaker 2: number of state, more than a few states get their
Speaker 2: budgets done on time. Why we can't do that in
Speaker 2: our nation's capital is beyond me.
Speaker 1: Right.
Speaker 1: Right. Absolutely. Okay. Uh,
Speaker 1: there is a movement on the right to repair issue jim.
Speaker 2: Yeah. Well, john Deere, I I put out a late
Speaker 2: item on john Deere. Uh, they're they're feeling the pressure there.
Speaker 2: There signaled today more open access for customers to service
Speaker 2: their own equipment. So they got to release out this
Speaker 2: morning
Speaker 2: on that one. They said they're going to offer the
Speaker 2: ability for the remote download of software updates to embedded
Speaker 2: controllers etcetera. So, I think that's pressure from the FTC chip,
Speaker 2: the Federal Trade Commission.
Speaker 1: Okay.
Speaker 1: All right. Uh, we are the Supreme Court nominee hearing
Speaker 1: is today, isn't it?
Speaker 2: Instead and go several days and I know some of
Speaker 2: the republicans are going to uh, you should always question
Speaker 2: and there are some areas in which they they should
Speaker 2: question her. But I don't think it will be nearly
Speaker 2: as visceral
Speaker 2: As it has been for the last two or 3
Speaker 2: on the more conservative
Speaker 2: uh side, you've got
Speaker 2: um, Minority Leader mitch McConnell's probably gonna vote for her. So, yeah,
Speaker 2: I see some some uh not just showboating. I think
Speaker 2: some of the questions will be sincere,
Speaker 2: but uh I just hope it doesn't go to the
Speaker 2: visceral side and and I don't expect it will be,
Speaker 2: but you never know some senators from both political parties
Speaker 2: like to showboat when they know the cameras are there.
Speaker 2: So let's hope that doesn't happen.
Speaker 1: Yeah,
Speaker 2: I think she's in, she is going to be
Speaker 2: approved. There's your top line right away
Speaker 1: will be
Speaker 2: what?
Speaker 1: Very good I was. That's what I was gonna ask
Speaker 1: you for right there uh, to bottom line it for
Speaker 1: us here. Uh, what else jim What do you what,
Speaker 1: what else are we watching in the week ahead?
Speaker 2: Well, I know the House ag committee leadership that means
Speaker 2: on the democratic side is going to come out sometime
Speaker 2: today if they haven't already with a meat packer hearing again.
Speaker 2: So watch for that and it's not out officially yet.
Speaker 2: But I've got good sources tell me they're putting out
Speaker 2: something today
Speaker 2: for a hearing. And uh, when I called a couple
Speaker 2: of republicans on the House side committee, uh, they were
Speaker 2: not consulted.
Speaker 2: So you're going to see some press statements from them
Speaker 2: that they're not happy with this singular my insular
Speaker 2: approach of the House side committee. So that's going to develop.
Speaker 2: Uh, we have, I told you the food price update
Speaker 2: on friday that I'm going to be very curious
Speaker 2: about, but I think this week is the, I know
Speaker 2: it's probably going to be the back page. Special pro
Speaker 2: farmer is on the shipping things because a number of
Speaker 2: items jelled earlier today
Speaker 2: about the rising cost of of ours at the ports
Speaker 2: in new Orleans. You can just, you can see it
Speaker 2: in the numbers right now.
Speaker 2: And the logistical snafus from china with their Covid, it's
Speaker 2: having an impact walter.
Speaker 1: It's a
Speaker 2: big story about it. And I have a personal story
Speaker 2: that I talked about in my, in my report today.
Speaker 2: I don't know whether it's, you have to be older
Speaker 2: probably to like these shoes,
Speaker 2: but they're called zebra Z B A
Speaker 2: shoes. They're fantastic. Why are they fantastic. You can put
Speaker 2: them on and take them off without either sitting down
Speaker 2: or hurting the are bending the back end of the shoe.
Speaker 2: They're reinforced if you will
Speaker 2: now you have to be older to really appreciate that. Well,
Speaker 2: I ordered a new pair
Speaker 2: Uh more than a few days ago and they usually
Speaker 2: come within 6-7 business days. So I emailed him over
Speaker 2: the weekend.
Speaker 2: Why haven't I received them? And I got a nice
Speaker 2: email right away. They're very good company.
Speaker 2: It's due to logistic problems in China as a result
Speaker 2: of COVID-19. So now as I wrote, it's affecting a
Speaker 2: very important person. Me,
Speaker 1: this
Speaker 2: is going to continue the point chip is, we are
Speaker 2: seeing some progress. We're down to single digits under the
Speaker 2: backup in the west
Speaker 2: coast ports and that's okay. I don't like absolutely. That's
Speaker 2: a good sign. But this china thing. I mean it's,
Speaker 2: it's certain ports are really being impacted chip. That just
Speaker 2: means this uh
Speaker 2: uh, logistics problems. Supply glitches is going to go on
Speaker 2: longer than people thought.
Speaker 1: Yeah,
Speaker 1: yeah. And and part of it is because of china's
Speaker 1: zero covid policy, if
Speaker 1: if a worker at the ports
Speaker 1: is confirmed
Speaker 1: with with having covid they're gonna shut the port down
Speaker 1: for a period of time
Speaker 2: and they have
Speaker 1: And they have and it's uh it's creating all kinds
Speaker 1: of issues. No. one Jim can't get his new pair
Speaker 1: of shoes.
Speaker 1: It's it's obviously obviously very important. Um and there is another,
Speaker 1: there is another variant
Speaker 1: that is making its way
Speaker 1: across europe so far, it hasn't been talked about much
Speaker 1: in the United States yet. Although
Speaker 1: I do know the administration is trying to get word
Speaker 1: out about
Speaker 1: this, this new variant, something that
Speaker 1: we've got to, we've got to keep an eye on
Speaker 2: now. Dr Fauci okay. Half of our listeners will just
Speaker 2: shut their ears right now. Half of them will want
Speaker 2: to listen. That's how just
Speaker 2: uh that he is. That's how it is. He said
Speaker 2: on the weekend that he doesn't think it will be
Speaker 2: as significant as the old Macron uh you know, variant.
Speaker 2: So let's hope he's right there. But prior to that
Speaker 2: he was really talking oh my goodness, we we have
Speaker 2: to be very careful again.
Speaker 2: He even intimated that we should shut down again. I
Speaker 2: thought uh the american public will not go through that again.
Speaker 2: They just won't, they just
Speaker 1: won't,
Speaker 1: That's right.
Speaker 1: That's right,
Speaker 1: okay. Jim I think we're about wrapped up here. We
Speaker 1: need to keep an eye on. The thing that I'm
Speaker 1: gonna be watching in the week ahead is I'm gonna
Speaker 1: be looking for that corn demand. That was on my
Speaker 1: my list of things to watch for first and foremost
Speaker 1: this week. And of course developments in Ukraine.
Speaker 2: Yes because the longer the war goes on
Speaker 2: in Ukraine
Speaker 2: uh the big the impacts on the ag markets and
Speaker 2: fertilizer
Speaker 2: that it increases and so it gets you into multiple
Speaker 2: year
Speaker 2: markets and that's the significant that that it grows. It
Speaker 2: has legs is what we would say in our industry chip.
Speaker 2: This story has legs because more evidence is gonna show
Speaker 2: up
Speaker 2: When you have 30% minimum in Ukraine in the war
Speaker 2: zone of their ag sector. It's already a big impact
Speaker 2: right there. Let alone look at all the people that
Speaker 2: have left Ukraine, many of them worked uh in their
Speaker 2: acts sector. And that's another angle to this. So
Speaker 2: um
Speaker 2: the dips in the market are gonna be bought and
Speaker 2: that's what it tells me because we don't know the
Speaker 2: end zone on this one yet.
Speaker 1: That's right. That's right on your fertilizer story. I think
Speaker 1: it becomes bigger this week as we start to get
Speaker 1: more and more reports that the Brazilian farmers can't get
Speaker 1: nitrogen for um for that? Safrinha corn crop
Speaker 2: and how do you pronounce the nutrient? Is it
Speaker 1: nutrients
Speaker 2: nutrients in Canada said that if this work stoppage goes
Speaker 2: much longer they're gonna have to stop or limit production
Speaker 2: because their warehouses are filled chip in that angle
Speaker 1: that
Speaker 2: their warehouses are filled in and they don't have any
Speaker 2: room so you would think they could find somewhere. But
Speaker 2: anyway these, these things have so many side angles to
Speaker 2: them
Speaker 2: that major implications and then this coming, what is it
Speaker 2: next to the 31st? Oh that's another one. I did
Speaker 2: want to talk about the the end of what what
Speaker 2: you know March 31 the planning intentions
Speaker 2: Nasa is going to make their briefing for the secretary
Speaker 2: online now that I I like that I love transparency
Speaker 2: where now I'm getting emails, will the World board do
Speaker 2: the same thing because I think the world board is
Speaker 2: really part
Speaker 2: of the nass briefing so maybe I've already answered my
Speaker 2: question but I'm
Speaker 2: I'm going to check with Seth Meyer, the economist and
Speaker 2: then Jack Yanovski, the world board
Speaker 2: chairman. But that's an interesting development. Why why even even
Speaker 2: to go back with Nasa's, why did they decide to
Speaker 2: offer them on its online?
Speaker 1: Oh it's all transparency. It's all absolutely. Um I've talked
Speaker 1: with Lance about Lance moaning about it,
Speaker 1: the chief of the crops branch there at
Speaker 1: ness and it is all about being as transparent as
Speaker 1: possible with the survey and the numbers as they possibly
Speaker 1: can
Speaker 2: them for that?
Speaker 1: Yeah the briefings are going to start five minutes after
Speaker 1: the reports are released
Speaker 2: And it's going to start with the 30th, the Hogs
Speaker 2: and Pigs report.
Speaker 1: That's right. That's right.
Speaker 2: So that means livestock included, so it's not just grains audience,
Speaker 2: it's the meat sector
Speaker 2: as well, but I think that's a significant development first
Speaker 2: time ever. You know those are always
Speaker 1: and if you, if you want to get a look
Speaker 1: at what it's what it's going to look like. Some
Speaker 1: of their past briefings are available on the Nass Youtube channel,
Speaker 1: so go take a look at it. Alright, we're gonna
Speaker 1: wrap things up with that this morning on Agritalk, we've
Speaker 1: got machinery, pete and we're gonna talk clean fuels with
Speaker 1: Donal re Hagen corn is let's call it 14 to
Speaker 1: 15 cents higher soybeans 25 to 30 cents higher. And
Speaker 1: wheat pushing 50 cents higher this morning crude oil,
Speaker 1: 4 to 44 to $4.5 higher as we speak.
Speaker 1: Have a great week. Everybody keep watching for those signals