Speaker 1: Good morning it is monday september 26 2022. And this
Speaker 1: is D. C. Signal to noise since we last talked
Speaker 1: harvest in the middle of the country had its most
Speaker 1: active week. House republicans want to know more about USDA
Speaker 1: spending plans us equities reflected increasing concerns about recession here
Speaker 1: in the U. S. And around the globe.
Speaker 1: The Yankees Aaron Judge sits on 60 home runs with
Speaker 1: just three games left and NASA this morning launched a
Speaker 1: double asteroid redirection test or dart. It's gonna slam a
Speaker 1: spacecraft into an asteroid to see if they can change
Speaker 1: the direction of the asteroid. And you know, Jim
Speaker 1: we talk about unintended consequences of a government action all
Speaker 1: the time. There had better not be any unintended consequences
Speaker 1: of this little dark test.
Speaker 2: No, you think we I got pretty good faith in
Speaker 2: our Nasa people still. Uh but you know the reason
Speaker 2: they're doing this is if we did have one in
Speaker 2: the future it could take out about half the continent.
Speaker 2: So I think it's a test worth taking.
Speaker 1: Yeah well it also makes me wonder if they're taking
Speaker 1: the test if they haven't already identified the asteroid that
Speaker 2: probably
Speaker 1: that is that is taking aim at the at the Earth.
Speaker 1: I'm not.
Speaker 2: That's
Speaker 1: exactly right. Good morning Jim that's pro farmer policy analyst
Speaker 1: Jim Meyer, I am Agritalk host chip Flory glad that
Speaker 1: you are with us.
Speaker 2: I do want to update you. I think you said
Speaker 2: only three games left. I think there's nine games left. What?
Speaker 2: Seriously?
Speaker 1: Oh well it's not nearly as C. That shows you
Speaker 1: how much this cub span is paying attention this late
Speaker 1: in the season.
Speaker 1: Not much at all. Not much at all. All right,
Speaker 1: good morning to you all. We're gonna get to
Speaker 1: uh Okay, well melodies coming with a question right off
Speaker 1: the bat that I think I can that I can
Speaker 1: answer right away because the question is what is the
Speaker 1: difference in how U. S. D. A. And pro farmer
Speaker 1: calculate their projections huge differences, huge differences. Number one USDA
Speaker 1: does a survey of GE's 45 55,000 farmers for every
Speaker 1: uh crop production report. It may even be more than that,
Speaker 1: but that I think is is uh something like the
Speaker 1: responses that they get. So that right there is a
Speaker 1: huge difference. The other thing is is they've got a
Speaker 1: very
Speaker 1: uh random driven process and selecting their objective yield plots.
Speaker 1: We have a random process as well. But the difference
Speaker 1: is they go back to that same spot
Speaker 1: in september october november. If the crop is still standing
Speaker 1: and then once the crop is harvested they'll go back
Speaker 1: and get down on their hands and knees and find
Speaker 1: how much corn, how many soybeans are left in the
Speaker 1: field in that plot area. So in other words, they
Speaker 1: measure the biological yield while it is standing, take the
Speaker 1: harvest lost off of it to give you the actual
Speaker 1: harvest yield.
Speaker 1: Pro farmers way of doing it is down the road
Speaker 1: every 15-20 miles. We stop we pull without getting into
Speaker 1: too much detail. We pull about 1700 corn samples, 1700
Speaker 1: soybean samples.
Speaker 1: And then we've got two different yield calculations that use
Speaker 1: the same data sets. One accounts for the size of
Speaker 1: the kernel around the size of the kernel based on
Speaker 1: the number of rows around the year which is always
Speaker 1: too low and the other one does not make that
Speaker 1: adjustment which is normally too high. You take the average
Speaker 1: of the
Speaker 2: two
Speaker 1: and it usually gets us pretty doggone close to what
Speaker 1: the average is. So. Yeah. Good question. Melody. That's a
Speaker 1: way to get my engine up and running right away
Speaker 1: on a monday morning. Get that question out of the way.
Speaker 1: We will we will uh
Speaker 1: uh take on some of these other questions as we go.
Speaker 1: But
Speaker 2: yeah I'll add a cotton thing. I got another cotton
Speaker 2: three analysts that I talked with over the weekend chip
Speaker 2: And it's in my updates on pro farmer dot com.
Speaker 2: But long answer short that when you look at the
Speaker 2: failed acreage in the sort of
Speaker 2: Data through the 578 it appears that NASA is too
Speaker 2: high on harvested acres by about 500,000 acres. So we're
Speaker 2: gonna see is something to watch.
Speaker 1: Okay we're gonna go to this question from carl right
Speaker 1: away to jim because this is one of my favorite subjects.
Speaker 1: Again the question on environmental social and governance. E. S. G.
Speaker 1: Does the Security Exchange Commission plan to require corporations to
Speaker 1: report in E. S. G. Score have any legs if
Speaker 1: this were imposed. Farmers doing business with publicly traded companies
Speaker 1: would have to quantify and report things like greenhouse gas emissions.
Speaker 1: Everything's from bovine flatulence to carbon released through silage and
Speaker 1: excuse me through tillage. Yeah. Absolutely. It would. I don't
Speaker 1: know if it's got any legs and boy, when you
Speaker 1: take a look at what the N. P. P. C.
Speaker 1: The
Speaker 1: National Cattlemen's beef Association, the U. S. Cattleman's Association, National
Speaker 1: corn growers, american soybean growers, They are all uh taking
Speaker 1: up efforts to prevent this from happening
Speaker 2: And house leadership, especially if they get back into power
Speaker 2: after November eight elections is telling corporations uh be careful
Speaker 2: how close you go on this one ship. So it's
Speaker 2: a concern, but I think the legs are being knocked
Speaker 2: out from under it.
Speaker 1: Right. Right. All right. Uh Gary's got an update on one.
Speaker 1: I don't know if we can check this or not
Speaker 1: real quick jim. But uh an issue that we've been
Speaker 1: talking about continue to monitor uh He says a couple
Speaker 1: of updates. First Rail Union Aerospace voted
Speaker 2: no,
Speaker 1: we'll have to
Speaker 2: check on that because you were going to go into
Speaker 2: october before we see the final results and I'd have
Speaker 2: to see whether or not they can go back and
Speaker 2: and and and you know, and voted again again. Gary?
Speaker 2: But you know, we'll check on it
Speaker 1: right and trade trade and movement is opening up between
Speaker 1: Canada and the U. S. And it looks like the
Speaker 1: border restrictions are coming off.
Speaker 2: Well you're seeing that around the world now Japan is
Speaker 2: trying to get more tourist etcetera. So yes I think
Speaker 2: that's a good sign.
Speaker 1: Right. Right. Alright. Gary. We'll get into the school lunch
Speaker 1: costs because that is on the topic for today wow jim.
Speaker 1: I don't know if we've ever launched into a signal
Speaker 1: to noise quite like that before or not. But here
Speaker 1: we go. Let's take a look at some of the
Speaker 1: things that happened last week. This is one that I
Speaker 1: think is flying under the radar a little bit but
Speaker 1: I think it's very important and that is chinese soybean
Speaker 1: meal prices are trading at a record high right now
Speaker 1: and it's because they're running out of beans. They're trying
Speaker 1: to say that that the crush margins were lost because
Speaker 1: there wasn't as much demand coming from the from the
Speaker 1: livestock markets. If there isn't any demand from the livestock markets,
Speaker 1: how are we trading meal at record highs Of course
Speaker 1: there is demand from livestock. The problem is they haven't
Speaker 1: wanted to pay the high prices and lock in.
Speaker 1: They use prices for too long of a period of
Speaker 1: time and now they're starting to pay the consequences.
Speaker 2: Absolutely chip spot on. And also remember Bloomberg had that
Speaker 2: report late last week I think friday that they purchased
Speaker 2: a lot of argentine soybeans so much in just a
Speaker 2: few weeks that they did in the entire
Speaker 2: prior year. So and they're they're getting out out of
Speaker 2: their strategic uh pork stocks too. So all indications are
Speaker 2: um they're they're going to be a big purchaser of
Speaker 2: pork beef in the months ahead. And also you know,
Speaker 2: soybeans
Speaker 1: right? Yeah. As long as unless they keep shutting the
Speaker 1: country down
Speaker 1: with their covid
Speaker 2: restrictions, that would be
Speaker 1: exactly. And that's why some people are thinking that the
Speaker 1: covid restrictions and the covid shutdowns are their way of
Speaker 1: limiting food use in some of these regions. That's a
Speaker 1: scary scary situation. Uh I don't want to let this
Speaker 1: one get away from us either because E. P. A.
Speaker 1: Withdrew the interim decision on glyphosate
Speaker 1: Uh which is of course the active ingredient in roundup.
Speaker 1: We can use it. We're gonna be able to continue
Speaker 1: to use it and they're not gonna complete the registration
Speaker 1: review now until 2026.
Speaker 2: Four more years. Yeah I got emails and telephone calls
Speaker 2: friday from some very smart people saying what does this mean?
Speaker 2: You know the gobbledygook from the government and E. P.
Speaker 2: A bottom line. You said it you can still use glyphosate.
Speaker 1: Yeah. Yeah catalog feed report was out on friday basically.
Speaker 1: I don't think it's gonna have a whole lot of
Speaker 1: impact on price action today. But
Speaker 1: USDA says it is going to basically implement part of
Speaker 1: the cattle market price discovery and transparency act by mandating
Speaker 1: the cattle contract reporting. Jim.
Speaker 2: Yes. And they put a notice out to the ag
Speaker 2: sector late last week and it didn't take very long
Speaker 2: to anami the north american uh you know meat association
Speaker 2: uh to you know, fire back at them now. USDA
Speaker 2: says they have the authority through the livestock mandatory livestock
Speaker 2: price reporting. But as I said on a gray talk,
Speaker 2: I think this is gonna end up in in court.
Speaker 2: But this this bridges us in chip to the High
Speaker 2: House Ag committee. Republicans fired off a letter late last
Speaker 2: week to USDA Secretary Tom Vilsack saying, wait a minute
Speaker 2: look at all these executive fiats from the White House
Speaker 2: and U. S. D. A. So you know, they want
Speaker 2: some answers.
Speaker 1: Okay, so that's the bottom line on this on the
Speaker 1: contract library.
Speaker 1: I think it's a good thing. I just wanted to
Speaker 1: happen the right way. Some of the climate smart farming
Speaker 1: practices that that are proposed and being supported through the C. C. C. Funds.
Speaker 1: I think they're good things.
Speaker 1: Um I just don't know if they're being supported and
Speaker 1: funded the right way. It's almost like they've just decided
Speaker 1: hey these are good ideas. Doesn't matter what Congress if
Speaker 1: Congress isn't gonna move on and we're gonna do it ourselves.
Speaker 2: Yeah. They've seen the mandates are the quickest road to
Speaker 2: get where they wanna go transparency is usually always the
Speaker 2: better approach. You're right, Jeff, but it's how you get there.
Speaker 1: Yeah. Uh
Speaker 1: Food prices. Let's talk about that real quick here. Jim
Speaker 1: USDA raised the outlook for all food prices and grocery stores,
Speaker 1: grocery store prices in 2022. Food price inflation now forecast
Speaker 1: to rise 9% to 10%. And food at home
Speaker 1: Up 10.5-11.5%. That's the most since 1979 and 74 respectively.
Speaker 1: Food away from home prices still forecast to rise 6.5-7.5%. Well,
Speaker 1: that's because we've already seen a lot of the increase there.
Speaker 1: This is something that
Speaker 1: is real for for a majority of us families jim
Speaker 1: how are we going to pay for that next meal?
Speaker 2: It's the grocery prices. And if the major media were
Speaker 2: doing their job, which they aren't in a major way chip,
Speaker 2: the sunday news program should have had uh Secretary Vilsack
Speaker 2: on relative to the food price, you know, situation. And
Speaker 2: the top economist, by the way, uh
Speaker 2: Again, I hate default USDA, but they have been way
Speaker 2: behind the curve on these food price forecast. I mean,
Speaker 2: they continue to increase, do they not shop at supermarkets?
Speaker 2: You know, they ought to be able to project rather
Speaker 2: than follow the trend. But uh the White House let's
Speaker 2: bridge the White House has basically a food security
Speaker 2: uh confab the first time since the Nixon administration at
Speaker 2: the White House. Now there were some major policy moves
Speaker 2: following the Nixon event.
Speaker 2: Uh, and they're gonna be some pushes, they're gonna use
Speaker 2: this food additional food
Speaker 1: stamps. Yeah.
Speaker 2: Uh, big time increases And another thing and they wound
Speaker 2: up being good type program, spending a lot of money. However, uh,
Speaker 2: so watch in the months following this, con fab biden's
Speaker 2: gonna speak at it. Vilsack is gonna speak at it. Uh,
Speaker 2: this thing will be used as a platform for food
Speaker 2: policy initiatives.
Speaker 1: Uh Gary hit us with uh, the school lunch or
Speaker 1: school nutrition programs. School lunch cost breakfast is a dollar,
Speaker 1: 60 lunches $3 and milk is 45 cents.
Speaker 1: I, I mean, I remember when it was 30, I
Speaker 1: I think the lunch was $35.
Speaker 2: Yeah.
Speaker 1: Uh, there was no breakfast.
Speaker 1: And boy you could, you could buy an extra, you know,
Speaker 1: little pint thing of or half pint thing of milk.
Speaker 2: We got chocolate milk all the time.
Speaker 1: Well, sure, of course.
Speaker 1: Um, thank you Gary. And by the way, if anyone
Speaker 1: else would like to participate. Look for the comments tab
Speaker 1: on your screen and click on that and as you
Speaker 1: can see, we will try to get to the, your
Speaker 1: questions or your comments included and included in the conversation here.
Speaker 1: Uh, jim just before we went on, you mentioned that
Speaker 1: there was a sustainable aviation fuel roadmap that was talked
Speaker 1: about on friday. What was that
Speaker 2: Released Friday. And it is an interesting report chip, we
Speaker 2: know their goals into 2030 and in the future 2050
Speaker 2: but this is the road map and I do like
Speaker 2: transparency on this one chip
Speaker 2: of where they're, what agencies have to do what in
Speaker 2: order to get there. So linked to the report, we
Speaker 2: have a link on pro farmer dot com to the report,
Speaker 2: but this shows you at least they have a glide
Speaker 2: path to perhaps get to where they want to be
Speaker 2: chip in in the, in the future. And you know,
Speaker 2: you've quoted Vilsack uh you know, periodically as
Speaker 2: he wants an aggressive use for this for the next
Speaker 2: few years and of course it has a big impact
Speaker 2: because of the oil seed oil seed plantings and ethanol.
Speaker 2: You can use ethanol for this. But that's
Speaker 1: right. And we are finding out as some, some latest
Speaker 1: technology that I just started to read about over the weekend,
Speaker 1: they're making it out of C. 02.
Speaker 2: Yes,
Speaker 2: that's the innovation of America that I love. So once
Speaker 2: they see a potential
Speaker 2: money, uh then you'll get the technology to follow,
Speaker 1: yep, I don't know if we're gonna get there on
Speaker 1: the batteries or not, but that's a that's a debate
Speaker 1: for another time. There's more and more people that are
Speaker 1: coming over to my side that it just ain't gonna work.
Speaker 2: Uh it'll work
Speaker 1: okay, one last thing from last week. Talk to me
Speaker 1: about the election results in Italy
Speaker 2: we have the first so called fascist since Mussolini. And
Speaker 2: I mean, she's a character. Uh she some people call
Speaker 2: her not that trump is a fascist trump with skirt.
Speaker 2: I mean, she's pretty aggressive now and she did win
Speaker 2: in her party.
Speaker 2: Uh It's a major change now. The EU officials even
Speaker 2: last week knew what was coming and they issued a
Speaker 2: warning to her that you cannot go against the EU principles.
Speaker 2: So they're a little concerned which way that she'll go.
Speaker 2: But she's already created some uh social issues chip relative
Speaker 2: to the LGBT community and uh other aspects. Very controversial.
Speaker 1: Yeah. Ok. Yeah. Ok. If you want to know how
Speaker 1: to ruin a saturday, there's a couple of ways to
Speaker 1: do it. Number one big 12 refs and a big
Speaker 1: 12 football game. That will ruin a saturday. Uh turnovers.
Speaker 1: Just disaster. Disaster turnovers. That will ruin your saturday. A
Speaker 1: text from Jim Wiesemeyer saying ignore these rumors of a
Speaker 1: coup in china,
Speaker 2: I
Speaker 1: ruined a saturday.
Speaker 2: I had ruined mine because I had some big traders, Okay,
Speaker 2: not big in size. I mean, important. And they've been
Speaker 2: around a while saying, is there any truth to this?
Speaker 2: I said, where are you getting this stuff? And then
Speaker 2: I I checked with
Speaker 2: one of the better china watchers, Jeff, Bill Bishop and
Speaker 2: he said it was from a service that doesn't have
Speaker 2: a track, a good track record at all. And I
Speaker 2: and we got his bottom line and it was Bs
Speaker 1: Bs
Speaker 2: Bs. That's all I needed. That as we call smart brevity.
Speaker 1: Very good. But
Speaker 2: you know, you always gotta check these out. But it's
Speaker 2: it's because she has not been seen for a few
Speaker 2: days pulling into a big, big important meeting in october chip.
Speaker 2: This is not unusual. We've seen the same thing with
Speaker 2: in north Korea.
Speaker 1: The other comment from Bill
Speaker 1: was uh, maybe too much wishful thinking on the part
Speaker 1: of some
Speaker 2: people.
Speaker 1: So there is, I mean nobody's gonna, well I shouldn't
Speaker 1: say nobody would encourage a coup, but if it starts
Speaker 1: to happen, who's gonna slow it down?
Speaker 2: That's true. That is true. And said the protest, you
Speaker 2: can see we're paid chip to connect dots all the
Speaker 2: time as reporters and analysts and look at the protest
Speaker 2: in Russia
Speaker 2: And in Iran and uh, probably protest in China relative
Speaker 2: to their lockdown. So there's this theme here. But I
Speaker 2: mean it's getting big in both Iran and Russia where
Speaker 2: they've thrown at least 2000 people in jail in Russia already.
Speaker 2: And that's probably a very understated
Speaker 1: total.
Speaker 1: Okay. Um,
Speaker 1: it looks
Speaker 1: let's stay on Russia because it looks like the Kremlin
Speaker 1: is going to attempt to complete an annexation of four
Speaker 1: areas that Russian troops have occupied in Ukraine and they
Speaker 1: may try to make it happen this week.
Speaker 2: Oh yeah, they'll try. Of course that was by the gun.
Speaker 2: You know at that gun, will you sign this document
Speaker 2: so you know what do you do? But a lot
Speaker 2: of Ukrainians aren't even in the areas chip but it's
Speaker 2: a sham.
Speaker 2: Uh most of the world is saying they won't certify
Speaker 2: it things like that but it's it's 101 in in
Speaker 2: Putin's playbook Jeff.
Speaker 1: Right. Right okay. Uh the U. S. Dollar gym in
Speaker 1: the overnight session traded as high as 1 14 53.
Speaker 1: I don't know when that's when we've been higher but
Speaker 1: it's it's going to go back to 2000 probably.
Speaker 2: Well yeah and there's a lack of coordination right now
Speaker 2: but I'm telling you uh look what china is trying
Speaker 2: to do is some things with the yuan or the
Speaker 2: remedy uh as I said before, the british pound is
Speaker 2: being pounded because they don't like
Speaker 2: that the U. K. With their recent announcements to to
Speaker 2: instill their economy has had is having to borrow so
Speaker 2: much money but you, its currency is big play right now.
Speaker 2: And remember when you were editor of Pro Farmer Ship,
Speaker 2: I believe it was on page two, you had a
Speaker 2: whole section on outside markets.
Speaker 1: We're
Speaker 2: back to that time right now.
Speaker 1: Yeah it it absolutely matters. Um here comes hurricane Ian
Speaker 1: getting ready to slam into the gulf coast and don't
Speaker 1: look now
Speaker 1: Mr biden. But your gas prices are working their way
Speaker 1: back to the upside
Speaker 2: hurricane
Speaker 1: in is part of the reason
Speaker 2: that's part of it. Uh you've got europe starting with
Speaker 2: the cooler temperatures chip. So that's all sooner than expected.
Speaker 2: So yeah, we're going even though that the uh Brent
Speaker 2: the international global mark and the W. T. I. Uh
Speaker 2: for us crude
Speaker 2: uh was down again today chip. So, but this thing
Speaker 2: could change on a dime.
Speaker 1: Yeah, certainly can. And and you know, the european situation
Speaker 1: is something that we're gonna keep a very close eye
Speaker 1: on uh energy markets. A actually W. T. I. Has
Speaker 1: has now turned higher. It's trained about 50 50 cents higher,
Speaker 1: but it's still just under 80 bucks.
Speaker 1: So that's uh that's a big difference. Okay, let's get
Speaker 1: to the week ahead, wow, we gotta keep moving here, dude,
Speaker 1: because number one thing on the priority list has got
Speaker 1: to be the continuing resolution, right?
Speaker 2: Yes. And through all the huffs and puffs as I wrote,
Speaker 2: uh it's the democrats this time. House democrats who don't
Speaker 2: like this permitting process that centers sometimes centrist senator joe
Speaker 2: Manchin is pushing okay. But I think they'll come to
Speaker 2: an agreement by the end of the week. Jip, the
Speaker 2: curious one, let's say I'm correct. Okay, let's go on
Speaker 2: from there.
Speaker 2: What's going to be added to this? It doesn't look
Speaker 2: like much many uh disaster aid funding maybe for New England,
Speaker 2: uh maybe for Pakistan, you know, you know, you know,
Speaker 2: situations like that, but that's gonna be punted until december
Speaker 2: after the elections act. Disaster funding is coming just not
Speaker 2: in this continuing resolution aid for Ukraine will definitely be
Speaker 2: part of this
Speaker 1: Chip.
Speaker 1: But mansions getting double crossed on this deal, isn't he?
Speaker 2: Well, he should have known. I think that's why I
Speaker 2: said he's sometimes centrist, He was feeling the heat on,
Speaker 2: you know, getting that the the so called inflation uh
Speaker 2: reduction act through. So he came up with this one ship,
Speaker 2: but I think that they'll eventually find the republican votes
Speaker 2: for the permitting as well because it it takes 60
Speaker 2: votes in the Senate. I think he'll he'll find enough.
Speaker 1: Okay, well, I started hearing it this morning actually over
Speaker 1: the weekend a little bit. Some of the middle of
Speaker 1: the country. Lawmakers saying, you know, if the federal government
Speaker 1: shuts down, I don't think people in my state would
Speaker 1: even notice. We're gonna, here, we're gonna hear that talk
Speaker 1: and we're gonna hear it a lot this week. Trust me,
Speaker 1: they will notice.
Speaker 2: They will notice. Yes, we've been through this before and
Speaker 2: it costs money and the government workers are repaid for
Speaker 2: any loss thing. Do we not ever learn from mistakes anymore?
Speaker 2: You know, other things this week, Chip, it looks like
Speaker 2: Doug mccallum has hit a snag, he's the proposal for
Speaker 2: chief ag negotiate
Speaker 2: at the USTR Chip. It was supposed to be this week,
Speaker 2: but a democratic senator has put a hold on this
Speaker 2: because he wants us to er to be more transparent
Speaker 2: in their negotiations on trade issues. So we have that
Speaker 2: to you know, look at chip.
Speaker 1: Uh what is in the continuing resolution back to that
Speaker 1: if we can this F. D. A user fee? You
Speaker 1: you you mentioned it I think just last week.
Speaker 2: And what
Speaker 1: exactly is it?
Speaker 2: Well it's the it's so they can do some user
Speaker 2: fees that even republican enough republicans are gonna go along with,
Speaker 2: otherwise
Speaker 2: they're gonna have to shut down a big portion of F. D. A.
Speaker 2: They need that funding chip. So it's very important in
Speaker 2: the in the food safety industry and it will be
Speaker 2: part of the stopgap spending bill.
Speaker 1: Okay. And there's going to be more money in the
Speaker 1: cr for Ukraine
Speaker 2: for Ukraine. Yeah, depend it's anywhere from just billions of
Speaker 2: dollars more. But you know, increasingly that's where if the
Speaker 2: republicans get control of the House, I'm not quite sure
Speaker 2: it's going to be quote as easy to get that
Speaker 2: funding as we've seen.
Speaker 1: Yeah
Speaker 1: I know we we keep saying that it's a proxy
Speaker 1: war jim. And and I and I believe that I
Speaker 1: absolutely believe it but if it is let go win
Speaker 1: it end this thing, go win it right
Speaker 2: now.
Speaker 2: I agree and I'm not a warmonger but
Speaker 1: right. No you don't have to be a warmonger to
Speaker 1: say go win it. A warmonger is there before the
Speaker 1: whole thing
Speaker 2: starts. Okay.
Speaker 1: And they encourage it and get and grease the skids
Speaker 1: to make the war happen. Uh
Speaker 1: Let's just let's just this thing
Speaker 2: this is why biden is correct on this one ship
Speaker 2: when he calls it's Putin's war not Russia's war continues
Speaker 2: to miscalculate on it and it's just it's getting to
Speaker 2: the serious time and he's he's he's into a corner
Speaker 2: right now and now he's
Speaker 2: uh more more soldiers from his country even though it's
Speaker 2: coming from uh certain areas that is uh you know
Speaker 2: raising questions about who is who who is part of
Speaker 2: this 300,000 you know build up but he keeps you
Speaker 2: know miscalculating and that's
Speaker 2: it's always a concern Jeff.
Speaker 1: Yeah he's more dangerous right now than what he was
Speaker 1: when the invasion started
Speaker 2: definitely definitely. And it's going to impact the Ukraine grain
Speaker 2: going out when that ends in november. He's going to
Speaker 2: rewrite the rules on that one. So that'll be in
Speaker 2: the wheat market. I'm telling you that that will be
Speaker 2: a grain grain market factor.
Speaker 1: Oh
Speaker 2: on friday this week we got a big economic reports
Speaker 2: with the Fed's preferred inflation gauge coming out the P. C. E.
Speaker 2: And then of course at U. S. D. A. We
Speaker 2: have the small grain summary and the grain stocks report
Speaker 2: and the grain stocks report can usually be a wildcard. Right?
Speaker 1: Right. Oh absolutely absolutely. Even though we just got an
Speaker 1: update on what U. S. D. A. World egg outlook
Speaker 1: board
Speaker 1: thinks the carryover is going to be just a couple
Speaker 1: of weeks ago. Um now now when we zero in
Speaker 1: on what the 2021 22 ending stocks will be for
Speaker 1: corn and soybeans and don't forget on thursday we also
Speaker 1: get the quarterly hogs and pigs report.
Speaker 2: Yes I forgot that. Absolutely. And you know before we
Speaker 2: coach up I do want to point out a really
Speaker 2: interesting report in the Wall Street Journal
Speaker 2: basically their headline was running out of land in in
Speaker 2: spacious us and what they meant was easily usable land
Speaker 2: to build new homes and that's apparently too due to
Speaker 2: regulation some some other factors that builders are finding it
Speaker 2: increasingly hard and and more than a few are looking
Speaker 2: at farmland
Speaker 2: to turn that over to a housing market. So that's
Speaker 2: one I would behoove you to read that. It's it's
Speaker 2: a it's a well researched report.
Speaker 1: Okay very good. And the sixth annual five day national
Speaker 1: clean energy week kicks off in Washington D. C. Should
Speaker 1: be a good week for ethanol,
Speaker 2: it should be a potpourri of speakers are at it.
Speaker 2: So we're gonna have a lot of energy and food
Speaker 2: news this week and that that speaks of agriculture right there.
Speaker 1: Alright alright we talked about it last week. You want
Speaker 1: to see judge get the record don't you?
Speaker 2: Oh
Speaker 2: absolutely yeah I watch I watch all the Yankees now
Speaker 2: I know the Yankees players you know so I watch
Speaker 2: him every game and I was watching friday night because
Speaker 2: I have apple tv plus and he didn't hit it
Speaker 2: but Pujols hit two.
Speaker 2: Yeah next 90
Speaker 1: nine and 700.
Speaker 2: Yeah I was just so happy for him. Yeah,
Speaker 1: absolutely. That was cool to see. That was really cool
Speaker 1: to see. And you know when I watched the Yankees
Speaker 1: I can actually watch one of my favorite cubs. Rizzo.
Speaker 2: Absolute. And he's done pretty good for him. What? 30 homers?
Speaker 1: Well yeah, he's one of the reasons that they're
Speaker 1: in the position that they're in and yeah it's a
Speaker 1: lot of fun. Alright today on Agri Talk this morning
Speaker 1: we got machinery pete lined up ready to go this afternoon.
Speaker 1: We've got Mark Holbrook from the Andersons, that's this afternoon
Speaker 1: at 206 central time. Jim have a great week. You
Speaker 1: all have a great week. Keep watching for those signals.