AG Bull
Tommy Grisafi is the main host and content creator for Ag Bull Media.
The Ag Bull Podcast showcases agriculture's top talents in a long-form video format. The Ag Bull Trading Podcast is a deeper discussion of trading with analysts and key players in agriculture nationwide.
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Wiesemeyers Perspectives | America's Farm Crisis Demands More Than Just Hope
Trade wars and policy shifts create mounting pressure on US agricultural exports, while domestic utilization initiatives offer glimmers of hope for struggling farmers. Congress returns with growing awareness of the cash flow crisis in agriculture, as industry leaders debate the potential need for another economic aid package.
• US agricultural trade deficit widens to $47 billion, with USDA forecasting $41.5 billion for next fiscal year
• China's boycott of US soybeans significantly impacts grain-producing regions like North Dakota
• USMCA talks begin, with Mexico remaining a top export destination despite trade tensions
• California approves E15 ethanol, potentially boosting demand by 600-800 million gallons
• Farm income appears artificially high due to $40 billion in government assistance payments
• RFK Jr.'s food policy initiatives create controversy in congressional hearings
• Japan agrees to increase rice quota by 75% and purchase $8 billion in US agricultural commodities
• US market share in global agricultural trade for key commodities continues declining trend
• Fed expected to cut interest rates by at least 25 basis points on September 17th
• Supreme Court appeal of tariff ruling could have significant implications for trade policy
Contact Jim Wiesemeyer at wiesemeyer@gmail.com for his free agricultural policy newsletter.
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Thank you, Tommy G
life. Hey everybody, tom grasafi, ag bowl media, ag bowl podcast, ag bowl trading. You're here to see the man, the myth, the legend, who has his microphone on and he can hear us. Thank god for editing, because that front part's gonna get cut out unless you're watching live. Let's bring him in. Happy friday, jim. Welcome to the show I. I was like fix your microphone. What the hell's the matter with you?
Speaker 2:hello sir we're loaded with news perspective today. Let me tell you, congress is back in town, which should worry most people. Uh, we've got all sorts of trade policy issues, farm income, so let's go to it.
Speaker 1:Let's do it full screen on you. Handsome alert. I wish I had a bell, I'd ring it all. Slide number one here. Let's headline US trade deficit widen sir.
Speaker 2:Yeah, that's the ag. Not only did the US trade deficit widen, but the ag trade deficit widen Now. Farmers want trade, not aid. Now we're going to get into this aid issue later on, but you saw, the exports fell in July. The exports fell to $13.2 billion. Yeah, there's the numbers right there. Look down where I've got red. The 2025 fiscal year forecast exports, imports. But look at that deficit $47 billion. Now USDA's forecasting for next fiscal year, which starts this October 1, will go down to $41.5 billion. But that's still not all that good because taken longer to get some of these Trump trade agreements either announced or implemented and on the way, so it's going to take a while to start seeing the positive pickup for US agriculture. I think it's coming, but, unlike USDA Secretary Brooke Rollins, I'm not going to call a golden era for US agriculture. And still I see some proof on the horizon.
Speaker 1:Absolutely, let's go to this next slide. We're going to get back to her later in the show.
Speaker 2:Yeah, that just shows you the imports and exports. Now the import situation we're importing a lot of horticultural products, so I understand that. You know where we want our fruits and vegetables all year round. So that's a big equation. But another one is these tariffs are going to have an impact and I think you're increasingly going to see that in the months ahead.
Speaker 1:And this may be something we're talking about here's the big one.
Speaker 2:Look at China they haven't bought one bushel of soybeans for the new crop yet, and China used to be the biggest customer for US soybeans, and this has the American Soybean Association more than concerned. And we've talked before, tommy, that hopefully by the end of the year President Trump will meet with Chinese leader Xi Jinping and they'll announce an agreement, hopefully with better enforcement mechanisms, to get the ball rolling on China purchasing US farm products again. Right now it's a boycott. China is boycotting us.
Speaker 1:And they're doing a great job. They're absolutely punishing, punishing the state of North Dakota and all grain that rolls that way, and it's not good.
Speaker 2:No, it's not good and you can't. We're not making it up to the other countries. So, again, I think we'll eventually have an agreement. But the way things went this week, if you saw in China, you saw Putin, you know the Russian president, Vladimir Putin, the North Korean president, whom and Xi Jinping together, You're talking about an alliance of thugs. There we had a motley crew, Literally a motley crew. They were a good band, by the way.
Speaker 1:They still are. They're just half dead. That's all, all right. Moving on to the next thing, we're quoting up motley crew here. All right, this is good stuff. We'll play a song here in a little bit. How about this song? Usmca Talks.
Speaker 2:Well, the Trump administration announced this week that the talks are going to begin. Really, they don't really have to be concluded until July next year. They don't really have to be concluded until July next year. But this is some of the leverage that Trump is famous for, because we have some trade tariffs going on between our North American partners, canada and Mexico, so they're going to have the initial talks under the US-Mexico-Canada agreement the US-Mexico-Canada agreement. Now, this is one where I will criticize the White House, because I don't think we're treating our allies correctly, mainly Canada and Mexico. We have a North American market, so hopefully that'll come about. But look at Mexico. They've remained the top exporter to the United States and you can see that in the graphic here. So, even though they've been hit with some tariffs, almost 90%, however, of farm products are not affected with our higher tariffs because of that USMCA agreement, and that's why I hope it continues. It's been a relatively good agreement.
Speaker 1:Why do I have a slide that says the Trump grin?
Speaker 2:Well, he's all. Well, they thought he was dead over the last weekend.
Speaker 1:I'm going to tell you something full-blown jackass alert. I woke up one morning, rolled over and told Gina I think President Trump might be really sick. I woke up, I looked at X. They had him died and buried. Like you missed the funeral.
Speaker 2:I saw some crap. It's just he doesn't. He doesn't come out and have a three hour presser for a couple of days and people think he's gone where we didn't. We went months with Biden without having a press conference. So, yeah, it's just everything's unusual. We went months with Biden without having a press conference. So, yeah, it's just everything's unusual here. But he came back. He came back.
Speaker 1:You just said the quiet part out loud. We went months and months. I mean there's talk that Joe Biden did not see or approve any of those people. What's the ultimate thing a president could do? The pen, yeah, they say he don't know who the hell he gave one of those to. That was an auto pen on all of them.
Speaker 2:I think my bias is that someone else was running the country and I remember you wonder? No, there was only about three or four people to tell you. That's what. I respect my sources, but it's just there. It was no way to run a country and you saw they had different proclivities than Biden probably really wanted in his normal days.
Speaker 1:Because I remember when I first came to town Proclivities Can you spell that you are dropping big words on the show today? Proclivities Somebody Google?
Speaker 2:that and post that His true agenda where he thought policy should go. But that was the old Biden. It was a more practical Biden Because I remember when I first came to town I interviewed him and it wasn't the Biden we saw as president. So you had his party drifting and now they're more than drifting toward the economic socialism side. But Trump now is just 180 degrees difference. Notice I didn't say 360. That would have been incorrect. 180 degree difference of just wanting to resource things back to America, which is the right approach, as much as possible, and to get at some of these countries who's been doing some unfair trade practices around the world, and that's his trade policy.
Speaker 1:So that's why we had the old Trump grin loaded up. All right, next candidate this youngster's from Canada, correct?
Speaker 2:Yeah, that's the prime minister, that's Carney. Yeah, he knows that Canada has to change how they deal with the United States, because Mexico is treating Trump a little bit better Now. We all know how to treat President Trump. You've got to say how great he is, you have to compliment him. But initially Canada wasn't doing that. And now look at their job numbers. They were out today too and they were somber. So the tariffs are indeed starting items into the United States, into the auto parts sector, et cetera are. So I think again by the end of the year we'll have a more, hopefully a more sane US-Canada policy, and that's important from a fertilizer perspective, et cetera.
Speaker 1:Yeah, I feel like China punished Canada. They really sucked it good to them with that canola BS. They sent a signal, didn't they?
Speaker 2:They sent more than a signal. That's how China does. And they just overnight they announced this morning actually that they've extended their investigation on Canada's canola. See, what we're seeing is power plays around the world in the trade policy arena and Trump knows that trade is a leverage tool that he has. But now farmers US farmers they rely a lot on exports and when you're looking at I don't know whether it'll be a record or near record corn crop, maybe even a soybean crop, domestic utilization is big, but you also need exports. And in the meat sector I learned a long time ago that many years the difference between profit or loss in the livestock industry were your exports. And this is what has agriculture in a state of flux right now. Because John Bozeman, who's the Senate Ag Committee chairman, came back to town from the month-long recess and he said he heard from other senators and even on the House side, they heard from the ag bankers.
Speaker 2:Tommy there is, and I don't use the word crisis often, but there is a brewing crisis out there in the row crop production and agricultural bankers will tell you there's a world of hurt going on. And we saw Bozeman's from Arkansas and there was a meeting in Arkansas that was almost standing room only earlier this week and I wrote about it, in which they pleaded for economic aid and I would say I don't think it's a question of if it's when and how much. We see another economic aid package for agriculture. Again, farmers want it from the marketplace, but let's be honest, it's going to take a while to get some of these issues that we've already discussed hopefully rectified and we start boosting not only exports to a number of countries, not only exports to a number of countries Japan, ethanol, hopefully China with corn and soybeans and milo, sorghum, et cetera and the meat sector but our domestic utilization California we've got very good news for corn this week and ethanol.
Speaker 1:Can I ask you? I heard you guys on the AgriTalk yapping and bapping about California. I didn't know what the hell you were talking about, because one part of California wants this and the other part of California wants that Go ahead, sir.
Speaker 2:Well, the governor wants and he'll sign the legislation. They just approved it this week for E15. Until now, california disallowed E15, let alone year-round E15. For the other states they didn't allow any E15. Really, e15, let around year-round E15? For the other states, they didn't allow any E15. Really. Well, yeah, now they're going to allow E15, and we probably have a couple of weeks for their CARB, that's a regulatory agency to put out the rules so the stations can utilize it.
Speaker 2:But you're talking about a 600 to 800 million gallon boost eventually for that, and so what I meant to say then is you not only need the exports, you need domestic utilization. So this is a step in the right direction for the year and years ahead. You boost ethanol demand. We have 45Z program, the sustainable aviation fuel. We still need the final regs on that and it may come by the end, hopefully by the end of the year. I think the IRS is so busy getting the rules and regulations ready to implement the one big beautiful bill tax cut provisions that they haven't focused on the tax incentives called sustainable aviation fuel or 45Z. So what I keep saying is that at least there's glimmers of hope for the future. Now we should get into a little bit what Brooke Rollins USDA Secretary.
Speaker 1:Brooke Rollins said Do you want to do that now? Yeah, I would. Okay, hold on, it's a one-man band here. We're finding the clip here In the meantime, while I'm stumbling over myself to find it. How do people subscribe to your newsletter?
Speaker 2:Just you see my last name at gmailcom w-i-e-s-e-m-e-y-e-r at gmailcom and we had some more than a few of your listeners, our listeners, email me over the past week and this is my give back to agriculture. I want to get the information out there with analysis about as unbiased as you can get in this town for the ag sector ag, energy and trade sector.
Speaker 1:And thank you, jim. That's so important to state all that and it's very important that people understand that we own this stream, we own this platform. This is a collaboration between you and I. There's no one telling us what we can and can't say, I mean from a compliance standpoint. I know what we can and can't say. I mean from a compliance standpoint. I know, like I, I what I can and can't do as a futures and options broker. But as people talk in politics and life and everything going on, there's no one telling us, like you can't say that you can't do this, and that's very powerful in this stage and age.
Speaker 2:It is, and and you have to be, I mean I. I didn't survive in this town the Disneyland of the East I call it DC for 50 years by being one-sided. So I'm an equal opportunity finger pointer. If either political party has to have a slap, I'm willing to give it, and if I'm wrong, I'm the first one to say I'm wrong. So that's what farmers want, farmers and ranchers. They want your opinion and they want to know what it's based on so they can judge. And I think any American should want that. We don't have that in many cases in our news operations now, and I came up through the beat news beat reporting, and boy I don't defend the majority of our news reporting nowadays.
Speaker 1:Like what Superman was, like Clark Kent getting the scoop.
Speaker 2:Yeah, we don't even have phone booths, so anymore I have to, I have to go run and find someplace else to change, but that's our bottom line. And again Rollins came out, yeah, and she promised a golden age. I know she wants to be upbeat, you know. But look at those farm income numbers. Usda put out a release saying farm income was surging. Would you tell that to a corn and soybean or sorghum or cotton producer? We've had $40 billion of taxpayer assistance and when you take that out, that tells you the market has been not only weak, it's been very weak. Ag bankers will tell you that, Farmers will tell you that. So just say it what it is.
Speaker 2:And she mentioned trade. We've got massive trade going on. She mentioned Bangladesh, of all countries, but look at our shrinking market share of global ag. Trade. Trend is not our friend there. Look at sorghum, corn, soybeans and wheat. That tells you on the one side, this is what President Trump wants to do. He doesn't like this chart. He's saying you know there's reasons for this. We've been patsies over the last decade or so relative to trade policy. He's trying to change that. You do not do that overnight. And this is what I'm really positive when it comes to Brooke Rollins, I think she's been one of the more articulate ag secretaries I've covered in my career. But don't give out. I mean give out hope for farmers, but give a more realistic timeline because we're going to need another economic aid package by the end of this year. You talk to any farm state lawmaker, republican or Democrat, and they know what's going on. It's a cash flow drain out there.
Speaker 1:How about? So we got US farm income forecast this chart? What's all this mean, jim?
Speaker 2:Well, that all means well. I want to go to the other one because they show the farm income up, but you know go to the next one.
Speaker 1:No, it's the one that one.
Speaker 2:Okay, there's your direct government payments to US farm producers. Look at the right-hand side on 2025. Look at that chart going up. Right-hand side on 2025. Look at that chart going up. If you pull that out, the taxpayer assistance that's through the economic ecap and that's who? The ag disaster program we talked about it and in our podcast last week. You pull that out and and the majority of this, not all went to the crop sector. You're, you're seeing what, what, what.
Speaker 2:The marketplace is upheaval for the producer and I don't have to defend this for agriculture. For me, food is a strategic topic and so I think any American taxpayer, once they realize what's going on in the farming community, once they realize what's going on in the farming community, would agree, and I think, increasingly so. I think agricultural economists looking ahead are going to say you know, this is the look, how many years in a row here we've had, you know, government, hefty government payments, as that chart showed. I think there'll be a discussion, tommy, in the years ahead. Is there a certain level of farm income that's needed not to make a farmer whole? There's no way government should do that. But should there be a policy discussion saying you know, this is a strategic industry. This is food, food security, and should there be a mechanism in place so we don't have this high anxiety of whether or not a farmer is going to have to have enough money just to finance new crop planning?
Speaker 1:I spoke a lot so I'm a little out of touch with what's going on with DC, but I'm not worried because I have you. But I spoke in Michigan and the farmers were upbeat. And I spoke in Minnesota and the farmers were upbeat. Both these particular counties not all the state of Minnesota, not all of Michigan had phenomenal yields and even with record yields they may break even, they may lose a little. Government payments will help tremendously, but not to like make a massively profitable to help them lose less, break even, make a little. But they were so optimistic and uh, one farmer came up to me and he's he's going to become a client of uh Ag Bowl and, uh, he wants a trading account, he needs to sell some grain off the combine, et cetera. But he said I wish and maybe he's watching. He said I wish my son would have came, but he's so depressed I couldn't get him here. And I said give me his number, I'll call him.
Speaker 1:And for any of you out there, I swear to you this is not fake news. You can always. You're more than welcome to call us. Call this line. This is tough times, jim, and that number folks will ring to my cell phone. I just don't want to put my cell phone out there, but that 855-737-FARM will ring to my cell phone. So if you're feeling bummed out or if you just need a hug, give us a call, because I know mental health is so important.
Speaker 2:All right, yeah, and I saw that in the Arkansas meeting where a farmer got up and noted the number of suicides that have taken place. And I remember in the 80s as I say in my speeches, it's like wet cement on my forehead what agriculture's depression looked like in the 1980s. So, yes, but as far as looking out, I tell a farmer, whether they're older or younger, that the future is still bright, but it'll take a while. The reason I say that, tommy, is food and the rise of the rest. Our country has been blessed by having at least entrepreneur spirit, the ability to produce things and to take risk and rewards. To produce things and to take risk and rewards.
Speaker 2:And then, around the world, the first thing countries do when they increase their middle class and you saw it in China they improve their diets and that means protein. So if you're raising anything protein and most of the audience is whether it's corn, soybeans, wheat, sorghum and the meats of course you're in a growth industry and that doesn't mean you're going to have bullish years every year. That's the might of agriculture and I think we're seeing the, the stacking of the seeds, the, the genetics speed up and the yields. The genetics speed up and the yields. You know, the C companies tell me that's going to increase in the years ahead because of artificial insemination, is going to speed the time at which some new products come into the marketplace, which tells you. From a policy perspective, you have to look at the demand side, both trade exports and domestic utilization that we've talked about, and we have to strategize this because the might of a corn crop is unbelievable that when we're seeing it this year, yeah, and I want to add to that.
Speaker 1:In this meeting in Minnesota, someone said you know, for years I'd go to top producer this meeting or that meeting, all the big meetings and all they talked about was we got to produce. We're not going to be able to feed all these people. He goes. What in the hell were they talking about? He goes. Why weren't they working on getting someone to buy our stuff? We do not have buyers of our products. We have overproduced ourself into poverty, jim, and it is a problem on a local level, a state level, a national level and all these farm groups. I don't know what the hell they've been doing and if you're out there, we'll make a youtube short of this. If you're all pissed off at me, I don't give a shit. Go ahead and email me. I don't care. I'm an easy guy to get a hold of matters fact well, I'll defend, I'll take the other side.
Speaker 2:All right, let's do it, because the soybeans they've got us uh, you know, soybean their, their exporter crowd have done a very good job over the years uh, the corn growers as well of looking for demand. The problem, short term, is our trade policy. It's hard to do market development when and I'm not saying Trump is wrong, I think, but to get there we have to go through some initial pain and we're seeing the pain. But your market development gets very hard when you don't know what the tariff policies is going to be from day to day, and we've been through that ever since Trump got in in his second term.
Speaker 2:Again, I'm not criticizing his trade policy, it's just that we're in a state of flux and if you were in a market development job for the soybean sector or the corn sector or look at the National Cattlemen's Beef Association, look at Meat Export Federation They've got a very hard job right now because of our trade policy. So they want stability and farmers should want stability in trade and we don't have it right now. So that's why, short term, we have to focus on domestic utilization. That's why the mandated levels for the renewable fuel standard program was so significant that the EPA came out and gave it at the 15 billion gallon level for corn and they gave a big boost to renewable and biodiesel. That's again a step in the right direction. But I feel for these commodity groups who are caught in a warp area, a fuzzy area, because it's hard to plan when you don't know what the price of your commodity is going to be to the buyer. Because of these, tariffs.
Speaker 1:Well, let me ask you something. I need to ask you a favor on public, so you can't say no on national live youtube. One of my clients is part of the north dakota corn growers and they said they're coming out to washington dc. They said do you think jim weissmeyer would meet us out and speak to us for a few minutes? I I said Jim costs a lot to speak, but if you're coming to DC I probably could get him to come and he would love to, but I don't know what your schedule is.
Speaker 2:Look at my body, feed me, and I'm there, baby All right. And I drink their crops, by the way, too.
Speaker 1:I do that, texas A&M.
Speaker 2:Let me just give you a shout out to Texas. A&m Ag School Joe Outlaw Dr, joe Outlaw Dr Bart Fisher. Every year, twice a year, they bring their best students to town and I speak to them, david Wasserman of the Cook Political Report speaks to them, etc. And they usually have a couple of a story to tell, tommy, and I think it's a good one.
Speaker 1:I like that. I didn't call it the Ag Bowl podcast, the Ag Bowl media and Ag Bowl trading, because I'm bearish agriculture, but I'm always asking people to sell their crops, but that's for good reason, because they're so doggone good at growing them. Let me look at our slides and, uh, we got to talk about a couple things. This. We're going a little long today, but that's okay. We're starting to get questions, we're starting to get comments. Uh, folks, at the end there's over 300 people watching this. Do you know what that means, jim? You know what that means when I tell you there's 300 people watching live.
Speaker 1:That means there's 300 people not watching some other show. Okay, it's 300 a day. In a few weeks it'll be 500, and I promise you, by the end of 2025, when we're going live, it'll be 1,000 people. That's 1,000 people who don't have their eyeballs on somewhere else. Media's changing. Media has changed. You know it because you're watching this show. Drop us a comment, a like, something. All our socials are right here. We're on x, youtube, instagram, facebook, all the little toys. Now we gotta speed up. We don't have to speed up because we don't need to go for a commercial break, because I paid for everything with your help, all right, but this guy, he really knows how to get people going. What the hell? Rfk Jr.
Speaker 2:RFK Jr, it was a boxing match.
Speaker 2:I mean do tell, oh my goodness, he had he had the both Democrats and Republicans were taking him on, but the Democrats of course they called it one one Senator called him a charlatan and a liar and things, and he took it right back to him. He said you know, you've been here this many years. What have you done to improve the food dynamics of not only children but all Americans? So he is upsetting the apple cart when it comes to the food industry. Now he's done some controversial things that a lot of people, including myself, don't agree with. But Senator Chuck Grassley, republican from Iowa, questioned him about the coming Maha that's Make America Healthy again report. Their next report that again, supposedly, is going to come out next week. They keep on saying next week. So I don't know, but they said it will be next week. They keep on saying next week.
Speaker 2:So I don't know, but they said it'll be next week. That's going to be important relative to how agriculture that there's RFK Jr is dealt with relative to the pesticide area, because the first report was not kind toward pesticides, a significant tool that that farmers need. So I think the ag sector's voice was heard on that one. But President Trump and USDA Secretary Brooke Rollins is in tandem with RFK Jr. Now I don't know whether I would be so close to RFK Jr if I was Rollinsins, because sooner or later some of these recommendations are going to have to be implemented later this year in a once the comment period is over. For uh, ultra processed foods, there's the big kahuna tommy and that gets in. That's just not seed oils. That's just about 60 of the middle of every grocery store I was just going to say.
Speaker 1:When I worked out with the health trainer guy, I said how do I eat better? He said you stay on that outside aisle and don't you ever go in the middle. Tell me about the middle, and that's how you and I got these great bodies. By the way, hey, thanks for coming to our TED Talk. This is Tom Grisafi and Jim Weissmeyer giving health advice.
Speaker 2:Go ahead, I'm in my way down. It's always fun going back up. I'll tell you that I love food, but it's going to be really significant Next week. Yeah, next week. Tuesday, wednesday, I speak in Fort Worth, texas, at a Future of Food conference, and Farmer Ag Secretary Tom Vilsack is going to speak right before me and I'm going to go through some of these things that we were already discussing. But for the future, oh my goodness, you're going to have you've got hedge funds and you understand hedge funds.
Speaker 1:Tommy, oh yeah baby.
Speaker 2:They're going to throw millions of dollars at these ultra-processed foods because they know they're going to be thrown into court and they can take some money out of these court challenges. So that's going to be a significant thing to watch out for, very interesting. But agriculture has a role to play in the dietary guidelines that USDA has a big part of. So food, food is going to be very important. And when you look at, look at Xi Jinping and Putin was caught off mic earlier this week discussing with the availability of biotechnology and artificial insemination, maybe they could live to be 150 years old, so you will see an increased age. There is an ag component on that, increasingly so we're going to have individualized medicines. I can't tell you how excited I am on the positive aspects of artificial insemination. Insemination, artificial intelligence isn't that funny?
Speaker 1:you know, I think I think 10, 20 minutes ago you said insemination okay, artificial intelligence.
Speaker 2:I didn't want to correct you, I'm like I don't know, maybe we're talking about bulls or something.
Speaker 1:I think it's a little.
Speaker 2:I think it's a little bit of is just going to speed individualized medicine, tommy. Okay, think about that, that'll make people healthier. And two, it's going to change diets. And that's the food sector. Look at what these weight reduction drugs have already meant to the sugar industry. There's a sugar beet to the sugar cane industry. Multiply that in the years ahead. You've got to watch food industry future.
Speaker 1:That's very interesting. We're coming to lightning round, we have a few more slides, we're going long but, jim, we have so much to talk about and that's the beauty of not having to cut to commercial or any of the other stuff. And I love doing TV. I love when I get the chance to do RFD TV and all that stuff. But all the guests are so smart that you want to keep talking to them and that's why we have the privilege of-.
Speaker 2:Lightning round, lightning round Jobs report came out today.
Speaker 1:Talk about it, my friend.
Speaker 2:It's jobs not wanted, workers not wanted. Basically it was a bad one. The bottom line analysis is even our Fed Chairman, j Powell, will now realize, on September 17th, the FOMC meeting, that they have to cut interest rates by at least 50%.
Speaker 2:Well, it's about 16% odds right now, as the market is saying, Odds are definitely favor of 25 basis points because they're still worried about the inflationary impacts of these tariffs. So but you're going to see lower interest rates on September 17th. Then we're going to have to listen to the press conference we call it a presser conference of what about further cuts later this year.
Speaker 1:Yeah, that press conference will move it more than the initial headline.
Speaker 2:Yes, the tariff ruling appeal conference will move it more than the initial headline. Yes, the tariff ruling appeal. The white house appealed to the supreme court to take on and judge. Uh, the, the appeal circuit court that came that ruled against the trump tariffs. This is very important because it could. It could mean all these uh uh tariff revenues, uh will, will, will be nothing. Nothing if the Supreme Court rules against Trump's use of tariffs. But we could be well into 2026 before the Supreme Court issues their final ruling on this one. But it's something to watch for the future.
Speaker 1:How about this one? Trump cuts Japanese car tariffs.
Speaker 2:Okay, A lot of people may have been confused. We had an executive order signed this week and a lot of people thought, well, wasn't in July 22nd, wasn't an agreement announced? Yes, that was a framework agreement. Now they actually put out an executive order and Japan signed it and issued a statement as well. And how's this for agriculture? Positive, Absolutely, Especially for rice. They guaranteed a 75% increase in their quota that Japan allows in, so it's good news for US rice producers. Second one Japan pledged to purchase $8 billion worth of other agricultural commodities from the United States corn, soybeans, ethanol, fertilizer. So again, it's going to take a while to get it rolling, but that's a good thing. And they have a $550 billion investment. So that's the positive side. On the Japan agreement.
Speaker 1:All right, folks, before we leave, we will open it up for questions. Please, please don't be any more obnoxious than Jim and I are. No one wants to get topped like that, but we do have one question or comment, and this is just a friend of mine. He popped up this why am I the only one watching on Facebook? Thanks, Kyle, for commenting. Right now, there's 353 people watching and I'll tell you where they're coming from Agble on X.
Speaker 1:Agble Media on X 342,. Agble Media on YouTube, 13,. And then Facebook has one. I don't know why people don't watch live streams, but I know they watch live streams. But on X right now, if you look at my X handle at Agbo Media, it has a pink circle around it and that means that I'm live right now. And then also, if you subscribe, please subscribe to the YouTube channel, because then people get notifications. So when you subscribe to my YouTube channel, you get those notifications. Jim, that's what happens there. All right, We'll open it up for questions if we get a few in the next few minutes, but in the meantime, while you're waiting, I do hope we get a couple. I sincerely do. We have 362 people watching that really is.
Speaker 2:A lot of farmers have told me over the years on podcasts that I've done. They like to listen to it when they're working or whatever, so they like to have their special time to do it in. So that's what. So I think a lot well, the majority. I don't think we'll watch it live, but they want it recorded.
Speaker 1:Yeah, last week's episode had 2,200. We didn't go live last week. I was traveling, I was doing RFD TV and you were at home, but we had 2,200 views. And then I took I don't know if I told you this, but I took the episode and I ran it through AI and then I made shorts. Those have tens of thousands of views. So eyes are getting out there.
Speaker 1:Jim, we're not getting any questions, but folks don't be afraid to drop a comment down below after the episode. I will see those comments. Oh, jim, we had all types of nasty comments too from last week. I don't even tell you about them, but I don't want you to be staying up late at night, and everyone's entitled to their opinions, absolutely. We all get to vote for a president every four years, but you get to vote every damn day with your wallet. And if Cracker Barrel does some jackass move, by the way, my wife took my mom and dad to Cracker Barrel the other night. She said it was packed. It was packed and people were in a good mood and maybe it was just something they needed to do to get business up. All right, we have a couple of questions coming in. What's Russ saying? We need lower prices. Russ, you better mean lower prices of fertilizer. Be specific.
Speaker 2:Farm equipment lower prices, fertilizer, feed prices if you're a livestock producer feed prices, etc.
Speaker 1:Hey, bruce, thanks for dialing in Great insight. I think you're talking about Jim, not me, because I'm the clown car of this show. But with that folks in all seriousness, we'll grab a couple more if we see them. But I want you to get a hold of Jim. I think from last week's show, and then you being on the cow guy with me, I think you picked up a lot of people and let's go over the rhyme. How to spell Wiesmeyer. A lot of people and let's go over the rhyme. How to spell Wiesmeyer. Do you know? I can do it without looking at it anymore. Tell them the rhyme.
Speaker 2:Every other letter is an E, except at the beginning W-I-E-S-E-M-E-Y-E-R. At gmailcom.
Speaker 1:And it's free right. People love free stuff.
Speaker 2:Yes, yeah, the best price in town.
Speaker 1:Very good. Well, this makes me happy. Hey folks, if you're out there, my new website's up, wwwagbullcom, and we're still working out the kinks. But while we were, it literally just went live. Yesterday, while we were talking, I did get a text that someone subscribed to my newsletter and I have a free newsletter and a paid newsletter. Weissmeyer's Perspectives will always be free on this end. Now Jim may go premium in some other ways, I'm going premium in other ways, but this show will always be free, Not only his gift, but my gift to wwwagbullcom. Check it out. We do have a couple of minor adjustments make to site, but we're off to a good start. Tommy Grisafi, coming to you from Valparaiso, indiana, I'm home with my family, jim Wiesmeyer, in DC, make sure you send this episode to a friend family, drop a comment and with that, have a good weekend. See you, jim. Hey, and your mic was always working. I'll edit that part out. See you, brother. Bye, bye.
