ken morrison

This is utterly deranged behavior from a U.S. attorney general

Understatement of the century

$WEAT (the ETF): Investment rose 11% over the past 5 days in this essentially long-only ETF. That's the largest week-over-week increase since May 2022 .

Bitcoin Futures: slippery slope

Metals (precious & industrial) comprise 35% & energy 29% of the $BCOM index

Oh my…

YouTube video by Bruce Springsteen Bruce Springsteen - Streets Of Minneapolis (Official Audio)

♥️ Bruce

youtu.be/wWKSoxG1K7w?...

Kentucky libertarians have managed to hold to their principals pretty well lately, I'm as surprised as you are.

Donald Trump Can Be Stopped The president’s retreat in Minneapolis is a stinging defeat for the national conservatives.

Trump “spent his first year acting as though the 2024 election were the last time he would ever have to give a thought to public opinion,” @jonathanbchait.bsky.social argues. “Now the myth that Trump is invincible has been exploded.”

it's not a result of the physical value of oats which are flat to lower the past 30 days and down 10% y-o-y. 50% of U.S. oat demand depends on imports from Canada.

No he didn’t, Libby. His written remarks referred to Greenland as a “piece of ice” because that’s what it is. You’re the only one mixing anything up here.

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.”

Some personal news we have renamed our team the Ice Bay Packers

and that

well, yes , there's that

St Louis Post-Dispatch:

Blake Hurst, a soybean, corn farmer, is frustrated the WH is blaming farmers' woes on things like high prices for seed and fertilizer , not tariffs.

“Sometimes I wish they would treat us like adults who are smart enough to figure out what’s going on.”

@SecRollins of USDA, in today's press release on the $12 Billion 'Bridge'' said " four years of disastrous Biden Administration policies resulted in record high input prices and zero new trade deals. "

She failed to mention the Record Net Farm Income w/ minimal govt. payments

Gaslighting

Trump's proposed $11 billion 'Bridge' payment to U.S. crop producers will average about $50/acre to qualifying producers who averaged < $900k AGI the past 3 years

I never trust anybody who said 'I'll be honest w/ you'.

Purdue - CME Ag Producer Survey:
5% change in this month's survey is interesting considering 75% of rural America voted for Trump, many then citing they 'liked his policies'.

$BTC : Down YTD

as a sidenote, even if the U.S. was competitvely priced for Nov-Dec beans, I don't believe there's is export fobbing capacity for more than about 5-6 mmt beans for Nov-Dec shipment

Corn at 13.7 MMt ytd, the closest ytd is 2018 when it was 11.7 mmt. That's as far back as I went to look at comparisons . 2019 ytd was 4.5 mmt , a low for the 2018-current period

U.S. Soybeans for Export: 8.9 mmt inspections crop-yr-to-date is down 7-16% from the same date in 2018 & 2019 during Trump 1.0 Trade War.

China is not the only customer missing from the list. Another indication how increased production in Brazil has taken market-share from the U.S.

Now imagine Trump if there was a national crisis ...

Same survey says 70% of ag producers believe the country is headed in the right direction. Pretty close to the 75% of ag producers who voted for the guy now in the WH.

I won't attempt to read the mind of ag producers . The poll was taken in mid-October , the 'talk' about subsidies has been more recent. The survey also shows the 'favorable' use of tariffs was 70% in April & May.

58% of the 400 ag producers surveyed monthly by Purdue say use of tariffs will make agriculture stronger, more than 2x the # who believe tariffs weaken U.S. agriculture

I went back to March 2008 and could not find any consecutive string of rally's > 9 days

I didn't like Hillbilly Elegy but that he's so far departed from his roots makes him impossible to like now. Perfect fit w/ Trump.

Cargill laying off 80 more employees at Minnesota headquarters The cuts are in addition to 475 local jobs the agriculture giant eliminated earlier this year.

In giant agribusiness news...
1. Cargill lays of 80 HQ employees (image and StarTribune link)
2. Cargill attributes a one-time gain to $455 million in tax savings from the Big Bill (MSN link)
...that's how the rich get richer

www.msn.com/en-us/money/...

www.startribune.com/cargill-layo...