AG Squawk AM 7/1/2026 | Grain Markets and Midwest Weather Update

We run through the morning board and connect the dots between a bullish-leaning grain setup and a Midwest weather pattern that keeps adding uncertainty. We also dig into what changing cattle quality grades could mean for beef pricing, then zoom out with a quick lesson on supply chains and competition using Nike’s stock slide. 
• Current grain and livestock futures levels and what’s moving 
• Midwest forecast details including heavy rain in the northwest Corn Belt and warm overnight lows 
• USDA acreage and grain stocks takeaways, including lower-than-expected corn and wheat stocks 
• Why wheat acreage down supports the rally 
• USDA Select grading share hitting new lows and what that signals for discount beef supply 
• Chart of the day on Nike’s multi-year drop and the role of competition and tariffs 
• Economic calendar highlights including grain crushings timing 
We’d love to have you on the premium side. 

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Transcript

SPEAKER_00 0:00

Good morning and welcome to Ag Squawk AM. Jed Sidwell here, live from Juliet, Illinois. I'm with Ag Bull Media. We're a financial channel that loves agriculture. We have a heck of a show planned for you today.

Welcome And What’s Ahead

SPEAKER_00 0:12

As you know, we had a grain report come out yesterday. And man, the weather through the Midwest has surely been something. We'll go ahead and give you a heck of a weather update as well. Let's go ahead and roll the intro. Well, let's go ahead and quote the market for you where we stand right now. This is the September contract. These quotes are brought to you on T4 from Plus 500, who we used to trade, and they

Grain And Livestock Market Quotes

SPEAKER_00 0:45

also sponsor the show. Shout out to Plus 500. Soybeans were at 1142, even up 13 and three-quarters. Corn was at 422 and 3 quarters 6. Wheat is up 9.25 at 595 and 3 quarters. On the livestock side of things, cattle saw a down day yesterday, but hogs bounced up slightly. Live cattle were at 242.43 cents up or down a dollar and fifteen, excuse me. Feeder cattle were at 364.60, down $2.88. Lean hogs were at 94 and 33 cents, up half a dollar. Well, our weather is brought to us by Mr. Craig Solberg. This is his 120 hour chart. And like you predicted, a big old red spot up there above Minnesota. The Sioux

Midwest Rain And Heat Pattern

SPEAKER_00 1:33

Falls area saw three plus inches of rain this week, and storm should hit every night this week on that northwest corn belt up there where that red dot is. On the rest of the Midwest, we saw a record overnight lows continue in towns like Waterloo, Dubuque, Des Moines, La Crosse, Rockford, and Topeka. Man, it's hard to stay cool the next day if you don't cool down from the day before. The Southeast Corn Belt, luckily, though, is going to see two to three dry days into this weekend. We might see some small scattered storms on Friday and Saturday night, but luckily some time to dry out there. Well, like I alluded to earlier, the grain market had a report come out yesterday on acreage and grain stocks. These were kind of the main takeaways from the port report. Wheat acreage

Acreage And Grain Stocks Takeaways

SPEAKER_00 2:22

was down six percent, which partially fueled their rally, but on grain stocks, both corn and wheat were lower than expected, which kind of pushed this kind of bullish recent grain market that we've seen even into this morning. We'll go ahead and keep you posted on what continues to happen on the grain side of things. Well, for our livestock discussion today, I thought it would be interesting to pop up the USDA select grading chart. The percent of cattle to go select is lower than it ever has been. It's

Select Vs Prime Beef Trends

SPEAKER_00 2:54

30% year over year, which is really crazy. And we always talk about how cattle we kill more prime cattle than we ever have. Well, it's because we started killing less selects. And you might say, well, it's better. We're creating a higher quality product, but at the same time, we still need discount products and the market still demands it. We're not producing it ourselves, it might have to start coming from elsewhere. Well, if you're new to Agble, we'd love to have you on the premium side. And if you like this livestock discussion, you can certainly get more of it. You can get it every day, actually, from Mr. Mike Sands. He's out right now for the fourth, but he'll pick pick up when he comes back. Before the bell is Mike's morning commentary that he has every day to get you started on cash, volume, what's happening, big news, and screwworm. Mike knows the market about as

Chart Of The Day Nike Selloff

SPEAKER_00 3:47

good as anyone. He's awesome to listen to, and I learned something every time that he talks. Well, on to our chart of the day. Something that I thought would be kind of cool to look at was this Nike stock chart. They were up at $177 a share in 2021. Today they're almost at $41 a share. What's caused this? Well, some blame management for a failure to keep up with competitors like on Hoka and New Balance. Other blame others blame large import tariffs that really affect their supply chain management when all of their manufacturing comes from China and overseas. Really be interesting to see if Nike can try to keep up and compete because they have to make some sort of a change to keep up with their competitors. Well, onto our economic calendar. Before the show, Tommy looks at it and goes, oh man, there's a plethora of things on the calendar for today. The NBA mortgage applications, the SP Global

Economic Calendar And Grain Crushings

SPEAKER_00 4:46

Manufacturing, the big one on the grain sides is that the grain crushings comes out at 2 p.m. We'll make sure and stay updated on that in tomorrow's show. We'll tell you what all comes out on the soybean side of things there. Well, thanks for coming on the show. It's been a pleasure having you this morning. Make sure and tune in to Mr. Davis Michelson this evening on Ag Squawk P.M. He has always has

Premium Plug And Show Sign Off

SPEAKER_00 5:11

the best guests, and I learn something new every time there as well. Loved having you on this morning. I'm Jed Sidwell with AgBull Media. We're a financial channel that loves agriculture. Have a great day.