Podcasts about Eia

Well howdy there, daylight burners. This is the Friggin' Farm & Ranch Report for Wednesday, June 10. All the numbers are from yesterday's close, because I'm not a breaking‑news guy – I want time to see what the hell we've actually got going on. We start on the board and in the barn. Live and feeder cattle were up – August live at 252.50, October at 248.25, feeders up 2–3 bucks across the board – while lean hogs kept bleeding lower around 97.20. Cash cattle are still stout with the 5‑area live in the mid‑250s and dressed over 404, and the sale barns say light calves are gold: 550‑pounders ringing up in the mid‑400s to high‑400s while 8–9 weights are stuck down in the low‑ to mid‑300s. Weight is discounting, lightness is paying, and the better‑managed, tighter pens are still dragging top dollar. On the grain side, July corn's around 4.20¾, wheat trying to bounce off multi‑year lows, and beans sagging sideways while everyone stares at South America and U.S. weather. Corn is cheap by recent history, but USDA's balance sheet still screams ‘ample supplies.' Then we lay that next to energy: Brent in the mid‑90s and national diesel still north of five bucks – AAA and EIA have diesel just over that 5‑dollar mark even after a little pullback. Feed looks manageable on paper, but every gallon of diesel and every pound of fertilizer is still trying to crawl up your back. Then we move to the war reel. A U.S. Army AH‑64 Apache went down near the Strait of Hormuz, off Oman. Both crew members were pulled out and are reported safe, but Trump says Iran shot it down with a Shahed drone and that the U.S. ‘must respond,' and CENTCOM already answered with strikes inside Iran. For the first time, we had a drone knock down a helicopter and another drone boat help drag the crew out of the water. This isn't just war porn – it's the risk premium baked into every barrel that has to squeeze through that chokepoint, and that's why your diesel and fertilizer don't come back to earth as fast as the chart says they should. Back home, we hit the New World screwworm update. USDA APHIS first confirmed a 3‑week‑old calf in Zavala County, then a second calf in Zavala, a calf in La Salle County, and a dog out in the Andrews County oil patch – plus another La Salle calf for five confirmed U.S. cases so far. We talk about the 20‑kilometer infested zones, road checkpoints, paperwork on livestock movements, and sterile‑fly drops along the border – and how all of that looks if you're in South Texas, New Mexico, or buying cattle out of those areas. The bug is a biology problem; the rules they'll write on top of it are an economic problem. I wrap it up with why packers are still chasing cattle in a short‑cattle, long‑capacity world, how BLM's new grazing rule and the death of the Public Lands Rule change (and don't change) public‑land grazing reality, what EPA's right‑to‑repair guidance actually does for your ability to work on your own iron, and a quick hit on H5N1 in dairy cattle and what that might mean for cull cows going through dairy‑heavy plants. If you make your living on a horse, in a tractor, or with a wrench in your hand – or you just care what screwworms, packers, public land, and a downed Apache mean for your fuel bill and sale‑barn check – this one's for you. Learn more about your ad choices. Visit megaphone.fm/adchoices

PODCAST LAS NOTICIAS CON CALLE DE 9 DE JUNIO - OpenAi (ChatGPT) va a la bolsa de valores para que le des de tu dinero, piden que USA compre parte de su valor - CNBCVienen fuegos forestales por sequía y calor extremo - El Vocero Alcalde de San Juan y la AAA llegan a acuerdo que pone de asesor a Roberto Martínez - Jay Fonseca PR Ambientalistas advierten de que quemar basura es la peor opción - El Vocero Guardia Nacional pa llevar agua cuesta 4 mil al día - El Vocero Gen Z casi no bebe, pero fuma de vicio - El Vocero 5 escuelas charters adicionales - El Nuevo Día Comisión del Senado aprueba cambios a los tribunales - El Nuevo Día Legislador propone no pagar IVU en restaurantes por 90 días por gastos de inflación - Primra Hora Proponen obligar a que pongan tomas eléctricas en condominios -Primera Hora Piden justicia salarial en Guaynabo para los policías municipales - El Nuevo Día Jonathan Bomba González trabaja en casino y es campeón mundial de boxeo y va contra el invicto mexicano Abraham Pérez Cerca de 9,000 abonados de la AAA siguen sin agua hoy tras las fallas en la planta La Plata, el Superacueducto y la estación Finca Rosso, y la crisis ya escaló al CapitolioInforme de la ONU sobre CUBA habla de crisis humanitaria y mortalidad infantil duplicada Siempre innovando y con los mejores beneficios, MCS Personal Directo te ofrece cubiertas accesibles para que cuides de tu salud y la de los tuyos.Con una amplia red de proveedores de más de 15,000 médicos de libre selección. Reembolso de hasta $40 mensuales por membresía a un gimnasio o por un entrenador personal debidamente certificado. Asistencia en el hogar para servicios de cerrajería, plomería y electricidad de hasta $350 por evento hasta 4 veces al año.¡Únete HOY a la gran familia de MCS!¡Salud que completa tu vida! Llama al 787.945.1259 y oriéntate.Endoso pagado#mcs#incluyeauspicio China exporta a toda máquina con todo y aranceles, pero por dentro está flaca - Bloomberg GSK acordó comprar a la biotecnológica Nuvalent en efectivo por $10.6 mil millones - CNBC El espionaje FISA vence el viernes por un lío que creó la propia Casa BlancaLOS DATOS DEL DÍABrent: ~$94.00/barril (bajó tras tocar $98 cuando Irán frenó los ataques)Diésel (EE.UU., on-highway): ~$3.9/gal aprox. — la EIA actualiza HOY; confirmar antes de cámaraS&P 500: 7,405.73 (+0.30%)Dow: 50,786.01 (−0.16%)Bono 10Y del Tesoro: 4.54% (+0.02)Euro/USD: 1.1508 (mínimo desde el 6 de abril)Gas natural (Henry Hub): ~$3.05/MMBtuTasa hipotecaria 30Y: 6.53%

PODCAST LAS NOTICIAS CON CALLE DE 8 DE JUNIO - Gobernadora activa la guardia nacional Trump dijo que EE.UU. podría tomar una participación accionaria pequeña (se habla de 1% a 5%) en las grandes de IA antes de sus salidas a bolsaSacan vendedores de verduras ambulantes de la carretera PR 100 y PR 129 - El Nuevo Día Vuelve la propuesta de incinerar basura en PR - El Vocero San Juan y Bayamón van por acuerdo para combatir la criminalidad - El Vocero Se va a declarar culpable también La Con en caso de CDobleta - El Vocero Update a centros de inspección para un nuevo reglamento - El Vocero Irán bombardeó Israel, Israel le dio a una planta petroquímica de Irán y el petróleo subió aunque Trump pidió no disparar - Economist MMM hoy voy pa Martins BBQEl mejor y más sabroso pollo asado a la varita de Puerto Rico. Cocinando diariamente comida fresca saludable y sabrosa con un montón de complementos para escoger, arroces, habichuelas, verduras, mofongo,tostones,....MMMM....Esto si es criolloMartins BBQ, TOMANDO todas las medidas de salud y sabor para mantener la mesa boricua al dia con opciones para llamar, recoger o delivery por UBER Eats, y DoorDash.MMM Hoy como en Martin's BBQAsado...Jugoso...Sabroso#martinsbbq#incluyeauspicio1 de cada 10 en PR tiene esquizofrenia - El Vocero José Luis Ortiz vuelve a ganar viniendo de último lugar - Belmont Stakes Energía temporal será a 22.4 centavos el kilovatio - El Nuevo Día Genera se lleva contrato de energía para Vieques y Culebra - El Nuevo Día Van 205 asesinatos hasta mayo, 14% más que el año pasado.Trump dice que él es quién da las órdnees y no Netanyahu - FT Se plantea subir tasa de interés y se disparan las tasas - Bloomberg SpaceX sacará IPO y venderá 555.6 millones de acciones a $135 cada una - BloombergLa Sección 702 de FISA (la vigilancia de inteligencia) expira el viernes y hacen falta 60 votos para extenderla. Los demócratas frenan porque Trump nombró a Bill Pulte - Semáforo LOS DATOS DEL DÍA Brent:$96.18/barril (+4%) Diésel (EIA, retail EEUU):$5.35/galón S&P 500:7,383.74 (-2.6% vie.) Dow:50,866.78 (-1.3% vie.) Bono 10Y del Tesoro:4.54% Euro/USD:1.15 Gas natural (Henry Hub):~$3.30/MMBtu Tasa hipotecaria 30Y:6.48%Índices al cierre del viernes 5 de junio; Brent y crudo en movimiento el lunes por la guerra. Fuentes: Trading Economics, EIA, Freddie Mac, TheStreet.

Mark Brennan, Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review their Q1 2026 financial and operational metrics at the producing Minera Don Nicolas (MDN) gold mine in Argentina.  We discuss the aggressive 70,000 meter exploration program on tap for MDN into 2026, review the permitting process at the Lagoa Salgada VMS Project in Portugal and the key development catalysts on tap at the Mont Sorcier Iron-Vanadium project in Quebec.   Q1/26 MDN Operating Highlights: Q1 Gold equivalent production of 12,842 Gold Equivalent Ounces (“GEO”) vs 11,163 GEO in Q1 2025 Heap leach production of 8,787 GEO continues to increase as water availability improves Underground development work continued at an accelerated pace, with record development meters during the period Access to new underground ore zones expected in Q2 2026, delivering higher-grade ore to the CIL plant, improving head feed grade, and increasing production CIL plant continues to process a blend of stockpile material and additional ore from underground development, resulting in total production of 4,055 GEO in Q1 through the CIL plant Acquisition of Falcon Properties has the potential to extend Heap Leach operations based on historical drill results. Combined with the existing exploration program, the acquisition is expected to position the mine to add new mineable material quickly Full year production guidance of 50,000-60,000 GEO maintained AISC of $1,348/oz Au during Q1 2026 Record Adjusted EBITDA of $28.7 million for Q1 2026, benefiting from unhedged gold position Strong Cash Position of $31.4 million at quarter end   Mark and I review their Minera Don Nicolas producing gold project in Argentina, and the combination of heap leach and underground gold equivalent ounce production for the first quarter. He also highlighted the advantages of the Falcon Properties acquisition, and how it adds years to the existing heap leach mine life, as well as substantial exploration upside.  We discuss the key objectives from the ongoing 70,000 meter drill program will be looking to extend mine life in a substantial way and find new high-grade areas, at surface and underground, for future mine sequencing.   Next we got an update on the ongoing work from the previously announced unfavourable opinion of the environmental impact assessment (EIA) for the Lago Salgada VMS Project in Portugal. This ‘unfavourable opinion' was issued after expiry of statutory deadline under Portuguese EIA legislation. The Company maintains its position that the project has been tacitly approved. Mark reiterated that the purported unfavorable opinion was issued despite the project being the first mining project in Portuguese history to receive unanimous favourable opinion for the Project by all 17 people that make up the Technical Evaluation Committee. The Company is working on a resolution and will update the market when it has more information.   Moving on to the Mont Sorcier Iron Project in Quebec, there are final workstreams feeding into the Bankable Feasibility Study slated for release here in Q2 of 2026. Recent metallurgical test work has reaffirmed the potential to produce high-grade and high-purity iron concentrate grading in excess of 67% iron with silica and alumina content below 2.3%, which gets a premium in the iron marketplace.  The NPV(8%) of the is project in the prior PEA was US$1.6Billion, so even at a very low multiple being applied to this Project, it more than underpins the current market cap that the company is currently receiving, and yet the market cap doesn't even fully reflect the gold production asset.   We wrap up discussing the underappreciated valuation that the company is receiving for the both the producing MDN mine in Argentina, the development-stage Lagoa Salgada and large Net Present Value of the Mont Sorcier Project.     If you have questions for Mark regarding Cerrado Gold, then please email those to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Cerrado Gold at the time of this recording, and may choose to buy or sell shares at any time.   Click here to see the latest news from Cerrado Gold.     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

1. PS chce zrušiť transakčnú daň a náklady na 13. dôchodky znížiť na polovicu 2. Návrhy, ktoré by zaťažili štátny rozpočet, sa presúvajú na september 3. Pri prešovskej nemocnici vynechali proces EIA, dozor zabezpečujú dohodári a náklady rastú 

PODCAST LAS NOTICIAS CON CALLE DE 27 DE MAYO -  Bloomberg reporta renuncia de todo el equipo de desarrollo económico de PRGobernadora dice estar decepcionada con su renuncia y que lo habló con ella - ElNuevo Día Roberto Lefranc Fortuño el nuevo jefe de Desarrollo Económico - El Vocero Lilly compró por 3.8 billones tres empresas de vacunas - Axios Trump no ha soltado si va a aprobar o no 14 billones en ventas de armas a Taiwán - Axios Trump destruyó a otro senador republicano, perdió por 64 a 36% - Axios Cuba acusa a USA de genocidio por bloqueo petrolero - Noticel Sacan de VITAl a pacientes crónicos y catastróficos - El Nuevo Día Jueza Swain vuelve a darnos un break al resolver contra bonistas - Metro •    Si tu compañía de teléfono te está dando razones para irte, T-Mobile te da hasta $1,200 por línea para que no lo pienses más.•    Porque ahora puedes traer tu número y el teléfono que ya tienes, cambiarte a T-Mobile y recibir hasta $1,200 por línea al activarte en su mejor plan.•    sea, no tienes que dejar tu teléfono. Te quedas con tu equipo, haces el switch y puedes recibir hasta $1,200 por línea.•    Además, te activas con beneficios que otros no te dan, como hotspot ilimitado, streaming incluido con Netflix, Hulu y Apple TV, y conexión en más de 215 destinos con internet de alta velocidad y textos ilimitados sin pagar extra.•    Estamos hablando de más valor, más beneficios y una mejor experiencia móvil.•    Todo conectado a la mejor red móvil en Puerto Rico.•    Así que, si tu compañía actual ya no te convence, este puede ser el momento de hacer el cambio.•    Porque esto no pasa todos los días. T-Mobile te paga hasta $1,200 por línea por quedarte con tu teléfono, con más beneficios, más valor y todo conectado a la mejor red móvil en Puerto Rico.•    La señal está clara. Cámbiate hoy a T-Mobile.#tmobile #incluyeauspicio  Reunión de gobernadora y presidente del Senado Rivera Schatz pasa la página del caso de Baby y la secretaria de Familia - El Nuevo Día Demócratas traídos por Pablo José juraron que darían los fondos de Medicaid a PR - El Nuevo Día Trump planifica darle plutonio de bombas a empresas de USA para producir energía nuclear - NYTEmergencia por erosión en Loíza - Metro Baja el petróleo a 90 - OilPrice Canadá y Bahamas empiezan a prohibir entrada de personas de Congo, Uganda y Sudán del Sur por casos de ébola - Reuters Devolvieron armas a enfermero en caso de asesinato/muerte de biólogo - El Nuevo Día Barea vuelve a dirigir ahora en la liga de verano de la NBA - El Vocero JGo dice en Molusco TV que USA va a tener guerra con Cuba - El Vocero Caen hipotecas tras aumentar tasa de interés -  CNBC 

The cattle trade story of the year dropped this week and almost nobody connected the dots. China's GACC renewed 5-year licenses for 425 U.S. beef packing establishments — straight out of the Trump-Xi summit in Beijing. USMEF CEO Dan Halstrom called it "what we've been waiting for almost a year." Meanwhile, the same Washington that spent $30 million to primary Thomas Massie — the only guy in Congress who consistently pushed back on farm policy sellouts — is now celebrating a China beef deal that China can turn off whenever it wants. We'll unpack both. Today's show covers: China GACC: 425 U.S. plant licenses renewed + 77 new registrations. What it means, what it doesn't, and why Argentina's peso devaluation changes the math Big 4 packer antitrust update — DOJ/FTC review context Cash cattle confirmed today: $263.90/cwt live, $410.00/cwt dressed — 3,074 head thin test on a soft board Corn reverses 11.5¢ · Boxed beef Choice $395.75 · HRW wheat at 17% good-to-excellent — worst since 2012 Diesel $5.60/gal (EIA wk ending 5/19) · Brent $110 · DAP $682/ton · Urea $549/ton War Reel: Ukraine hits Russian oil refineries 1,600 km inside Russia — Yaroslavl, Tuapse, Samara — and the direct line to your fuel and fertilizer bill Farm Bill: House passed HR 7567 April 30 (224-200), Senate markup imminent — Boozman targeting late May Brucellosis zone comment window OPEN NOW for MT/WY/ID Yellowstone interface producers On This Day: Homestead Act signed (1862) · Levi's born in a Reno tailor shop (1873) · Hamburger Hill — 72 KIA, abandoned 3 weeks later (1969) Burnin' Daylight is the farm and ranch market report for working producers — no hedge-fund voice, no filler, every number sourced before it goes on air.

The cattle trade story of the year dropped this week and almost nobody connected the dots. China's GACC renewed 5-year licenses for 425 U.S. beef packing establishments — straight out of the Trump-Xi summit in Beijing. USMEF CEO Dan Halstrom called it "what we've been waiting for almost a year." Meanwhile, the same Washington that spent $30 million to primary Thomas Massie — the only guy in Congress who consistently pushed back on farm policy sellouts — is now celebrating a China beef deal that China can turn off whenever it wants. We'll unpack both. Today's show covers: China GACC: 425 U.S. plant licenses renewed + 77 new registrations. What it means, what it doesn't, and why Argentina's peso devaluation changes the math Big 4 packer antitrust update — DOJ/FTC review context Cash cattle confirmed today: $263.90/cwt live, $410.00/cwt dressed — 3,074 head thin test on a soft board Corn reverses 11.5¢ · Boxed beef Choice $395.75 · HRW wheat at 17% good-to-excellent — worst since 2012 Diesel $5.60/gal (EIA wk ending 5/19) · Brent $110 · DAP $682/ton · Urea $549/ton War Reel: Ukraine hits Russian oil refineries 1,600 km inside Russia — Yaroslavl, Tuapse, Samara — and the direct line to your fuel and fertilizer bill Farm Bill: House passed HR 7567 April 30 (224-200), Senate markup imminent — Boozman targeting late May Brucellosis zone comment window OPEN NOW for MT/WY/ID Yellowstone interface producers On This Day: Homestead Act signed (1862) · Levi's born in a Reno tailor shop (1873) · Hamburger Hill — 72 KIA, abandoned 3 weeks later (1969) Burnin' Daylight is the farm and ranch market report for working producers — no hedge-fund voice, no filler, every number sourced before it goes on air.

Zach Abraham and Chase Taylor of the Know Your Risk Podcast join Mining Stock Daily for an intense macro discussion covering the Strait of Hormuz crisis, inflation, commodities, and the growing disconnect between financial markets and physical reality. The conversation breaks down the latest EIA inventory draws, tightening diesel and jet fuel markets, and why both guests believe oil markets remain dramatically mispriced despite mounting evidence of a global energy shortage. Zach and Chase also explore the inflationary ripple effects spreading across agriculture, industrial commodities, and global supply chains as rising energy costs begin feeding directly into producer prices and consumer goods. The discussion dives into the Federal Reserve, Kevin Warsh's incoming leadership, and the increasingly difficult challenge central banks face as supply-driven inflation collides with slowing economic growth and expanding fiscal deficits. The trio also examines the concentration of today's equity market around a handful of mega-cap AI and tech names, questioning whether markets have become dangerously blind to geopolitical and commodity risks building beneath the surface. From copper and silver to wheat and cocoa, the episode highlights how commodity markets across the board are beginning to break higher while most investors remain focused almost entirely on technology stocks. Zach outlines why he believes mining equities and commodity producers remain deeply undervalued relative to the cash flow potential being generated at current prices, while Chase warns that energy scarcity and supply chain stress could still lead to a far larger inflationary event ahead. From oil inventories and military escalation to AI valuations and precious metals, this episode connects the dots across some of the biggest macro forces shaping markets in 2026.______Terrahutton empowers junior mining companies to secure investment with immersive, interactive, and visually striking storytelling. Learn more about the Terrahutton platform ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠HERE⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠______This episode of Mining Stock Daily is brought to you by... ⁠⁠Revival Gold ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vizsla Silver⁠⁠⁠⁠Equinox Gold⁠⁠⁠⁠Integra Resources ⁠⁠

The conversation covers the agenda items for DevNet 4, including EIPs 70, 71, and 72, as well as the impact of the Engine API change on gas limit. It also discusses the limitation of deposit transactions on the EIA side, benchmarking and testing with Prism and Teku, and potential solutions for an overflow issue. The conversation covers the introduction of optional proofs for execution, collaboration with the broader community, sub-linear and stateless validation, opt-in proof generating and verifying modes, infrastructure and observability improvements, and standardizing the input for guest program execution. The discussion is divided into three main chapters: Introduction to Optional Proofs, Execution Proof Engine and API, and Execution Layer Specification.TakeawaysDevNet 4 includes EIPs 70, 71, and 72Discussion on Engine API change and its impact on gas limitLimiting the number of deposit transactions on the EIA sideBenchmarking and testing with Prism and TekuOverflow issue and potential solutions Optional proofs for executionCollaboration with the broader communitySub-linear and stateless validationOpt-in proof generating and verifying modesInfrastructure and observability improvementsStandardizing the input for guest program executionChapters00:00 DevNet 4 Agenda Items13:21 Engine API Change and Gas Limit39:22 Deposit Transactions Limit45:03 Overflow Issue and Solutions54:54 Execution Proof Engine and API01:23:15 Execution Layer Specification

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news commodity markets are signaling more intense stress with copper and sulphur jumping to new all-time highs and aluminium jumping to near its brief pandemic spike. Tightening supply from the Middle-East standoff is driving the cost of these fundamentals up. Today, Trump is in Beijing where heavily choreographed set pieces are play out ahead of the formal discussions. Trump got welcomed by a non-Politburo member, the first time China has done that. So far he is being treated just like any other visiting head of state, rather than the special senior welcomes by his predecessors. And China is organising one of its tankers to exit the Strait of Hormuz in defiance of the US blockade, right at the time these meetings take place. US mortgage applications were little-changed last week, but with this week's push higher in benchmark interest rates, they are likely to fall when reported next week. American producer prices were up +6.0% in April from a year ago, getting a +1.4% shove in April from March. Distorted input costs from Trumps Gulf War are embedding uncompetitive pricing in American-made goods. Only the pandemic surge has been greater (also on Trump's watch.) It isn't clear right now why American producer prices are rising faster than just about everywhere else, but history will eventually explain that. US crude oil stocks took another outsized tumble last week according to official EIA monitoring. Petrol stocks there fell sharply too. (These sharp drops are confirmed by industry data too.) The industry is raking in record profits on these lower volumes. Why the US, a net petroleum producer, is feeling the brunt of these price hikes is a classic study in oligopoly power. (And see this investigation.) Meanwhile, UST 30yr bond yields have risen above 5% on secondary markets. Apart from the pandemic spike, this is the first time they have done so since 2007, so a two decade high. The overnight US Treasury 30 year bond auction delivered a medium yield of 4.99% (top bid 5.05%), up from 4.82% at the prior equivalent event a month ago. And we should note that Kevin Warsh is now the Fed Chairman. But ex-boss Powell is still there. Given the Trump-induced inflation surge, he is unlikely to be able to deliver on Trump's demand for lower US interest rates. In Canada, their central bank says they see no evidence that AI is having a material impact on their jobs market - yet, anyway. For them, the benefits are outweighing the costs. EU industrial production rose in March from February, but that wasn't enough to counter the outlier faster rise a year ago, so it ended down -1.0% year-on-year. An outsized fall in Germany twisted these results. In its May monthly report, OPEC cut its forecast for global oil demand growth in 2026, joining other forecasters such as the IEA in cutting expectations due to the Iran war. In Australia, the wealthy are reeling after their latest Budget signaled a levelling of the tax playing field and the wind-down of concessions for wealth. To be fair, these are to be unwound over many years, but the big end of town is furious they are losing their perks. Certainly, those dependent on the property market can see an end to the gravy train. The UST 10yr yield is now just on 4.47%, unchanged from this time yesterday. The price of gold will start today up +US$12 at US$4690/oz. Silver is up +US$3 at just over US$88/oz. American oil prices are holding up at just over US$101.50/bbl, while the international Brent price is at just over US$106/bbl, which is down -US$1.50. The Kiwi dollar is down -10 bps from yesterday at this time at 59.3 USc. Against the Aussie we are down -60 bps at 81.7 AUc. Against the euro we are unchanged at just under 50.7 euro cents. That all means our TWI-5 starts today at just on 62.6 which is down -10 bps from yesterday. The bitcoin price starts today at US$79,447 and down -1.3% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.7%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Matt McKinley wraps May 4-8, 2026 from Yerington, Nevada. Cash cattle printed an all-time record midweek and gave back into Friday — June live $248.90, August feeders $364.22. Boxed beef cracked Thursday and partially recovered Friday (Choice $389.02 / Select $385.17). EIA on-highway diesel $5.640, up 29¢ WoW. AAA national regular $4.546 / diesel $5.663 — pump up 25¢ two weeks running, $1.40 higher YoY, highest since 2022. DAP $682 (+$14), urea $549 (+$8). Sale Barn Pulse: 6 markets, 15,247 head, avg $480.78/cwt; OKC West $368.93 on 787-lb. DOJ has confirmed an antitrust investigation into the Big Four meatpackers — Tyson, Cargill, JBS USA, National Beef — roughly 85% of the U.S. fed cattle market — and is actively soliciting whistleblowers. Three story segments: drought + fire + structural cattle crunch (86.2M total / 27.6M beef cows / 50.9% U.S. in drought); Farm Bill H.R. 7567 + PRIME Act pilot + Big Four probe; Western water rights — Lower Basin 3.2M acre-feet cuts through 2028 + the Nevada NRS 533.087 vested rights deadline of December 31, 2027. War Reel ties Hormuz fertilizer disruptions and the AAA pump surge back to your input bill. On This Day closer on V-E Day, May 8, 1945. Burnin' daylight. Learn more about your ad choices. Visit megaphone.fm/adchoices

Grain complex under pressure on Iran peace talks; STATS Canada stocks report; EIA energy report; market waits for Kansas crop tour and Supply/Demand next week.

Studio blew up on me yesterday, so today's Friggin' Farm & Ranch Report is a two-day catch-up for May 5–6. We put the Big Four packer antitrust story right up front, then walk the board, the barn, inputs, drought, and DC without making you bounce your head off the wall. We talk packer leverage, what a real DOJ case would mean for cow-calf outfits and feedyards, and why nothing has "fixed" cash trade yet. Then we go through two days of tape: June live cattle taking a hard hit Tuesday and a small bounce Wednesday, August feeders doing the same, lean hogs holding the front month in the low-90s with June around a buck, and soybeans leading the way both days while corn keeps your ration costs tight. On the cash side, we use Lone Star Stockyards' Texas Angus Association feeder sale as the lead steer — 980 head, about 85% feeders, steers and heifers mostly $2–$6 higher — and lay that alongside March Cattle on Feed and a $460 sale-barn average. On the input side, diesel stays camped around $5.64 EIA and $5.659 AAA with AAA gas about $4.48, and corn isn't giving anybody a real break either. We wrap with APHIS' brucellosis zone expansion, ag bills sitting in committee, and Southeast drought chewing up grass and forcing some ugly decisions. No fake certainty, no Wall Street voice — just cattle, feed, diesel, and policy in plain ranch language. Sponsor: Lone Star Stockyards, Wildorado, TX — Tuesday sale every week at 11 AM Central. lonestarstockyards.com. Move your ass — we're burnin' daylight. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news oil prices have tumbled as the US seems to give up on most of its stated objectives, including the promise of safe-passage for shipping, in a u-turn to extract itself from a losing hand. Crude oil prices are down more than -10% on the news, although it needs to be noted that the Strait of Hormuz remains closed. It is just market euphoria. We now need to start worrying about a permanent Iranian transit tax after the US walks away. The Gulf States who supported the US are about to be thrown under the bus. Financial markets don't care of course and like the end of the adventure. US mortgage applications fell again last week as interest rates rise, both for refinance activity and new home purchases. This takes this activity back to September 2024 levels. The US ADP employment report said their private labour market added +109,000 jobs in April, marginally more than the +99,000 expected. This sets the official non-farm payrolls report up for an expected +60,000 rise, with upside. Most of the new jobs are coming from aggressive hiring in their healthcare sector. After the prior week's outsized fall, this week the EIA reports another notable fall in US crude oil stocks. In fact, every metric fell other than US crude oil imports. There is certainly no relief at US petrol pumps yet, with prices now up more than +50% from their pre-Trump Gulf War levels. We have earlier noted the politicalisation of US official data, especially of the Bureau of Labor Statistics who produce CPI, PPI and labour market data. We weren't the only ones. A new analytical report has been looking at how this has affected the quality of their data and concluded there is a worrying impact from this trend. So we need to be sceptical, and the next of their big set piece reports is the April non-farm payrolls. This means we will need to rely more on other non-Trump Administration high frequency market data. In Canada, their widely-watched Ivey PMI surged into a strong expansion in April and by more than expected. In China, new analysis shows Chinese companies are reporting lackluster earnings, with overall net profit declining in 2025 for the third consecutive year as the property slump dragged on and more retailers posted losses, hurting employment and the economy as a whole. Meanwhile, China's Golden Week holiday has just ended, and reports are that there was less air travel this year - but very much more high-speed rail travel. Overall domestic holiday activity was up +3.5% with air travel falling -5.7% year-on-year to 10.5 million passengers between May 1 and May 5, railway journeys up +4.6% to 1.06 billion. And staying in China, their non-official S&P Global services PMI reports that their services sector expanded faster as new business picked up in April and the year-ahead outlook improved. Cost pressures remained modest from this giant sector. In India, their services sector saw new orders and output expand at a quicker pace supporting hiring activity. They also reported a mild reduction in inflationary pressures. (Things aren't so good in the Russian services sector.) In the EU, they report rising cost pressure for producers, all related to higher fuel prices. Overall they are up +2.0% in April from a year ago, but up +3.2% from March. There is quite a wide range of impacts depending on the country. Internationally, a new report tallying global debt found it at US$353 tln, and a strong shift away from US treasuries and toward big new demand for Japanese and European government bonds. They also found the overall debt:GDP ratio remained stable. The UST 10yr yield is now just on 4.35%, down -7 bps from this time yesterday. The price of gold will start today up +US$121 at US$4680/oz. Silver is up +US$4 at just over US$77/oz. American oil prices are down -US$6.50 at just on US$95.50/bbl, while the international Brent price is down -US$8.50 and now at US$101.50/bbl. The Kiwi dollar is up +60 bps from yesterday at this time at 59.5 USc. Against the Aussie we are up +30 bps at 82.3 AUc. Against the euro we are up +30 bps at just on 50.7 euro cents. That all means our TWI-5 starts today at just under 62.8 which is up +50 bps from yesterday. The bitcoin price starts today at US$81,399 and up +0.1% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.3%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

San Juan en Pie de Guerra: Crece la Tensión por el Proyecto Minero "Romero". SAN JUAN DE LA MAGUANA. La provincia de San Juan se encuentra en el epicentro de un intenso debate nacional. Lo que comenzó como una preocupación ambiental se ha transformado en un estallido social que mantiene a la región en vilo, enfrentando a las comunidades locales contra las ambiciones de explotación de oro, plata y cobre en la Cordillera Central. Hoy, domingo 3 de mayo, se lleva a cabo una gran marcha masiva que recorre la zona norte de San Juan, desde el Arco del Triunfo hasta el muro de la presa de Sabaneta. Los manifestantes, agrupados bajo el lema: "El agua no se negocia", exigen el retiro definitivo de la empresa canadiense GoldQuest. Esta movilización ocurre apenas una semana después de una huelga general de 24 horas (el pasado 27 de abril) que paralizó el 98% del comercio y el transporte en la provincia, demostrando un rechazo casi unánime a la actividad minera en la zona. Comunidades y Activistas denuncian que la mina contaminaría el río San Juan y la presa de Sabaneta, destruyendo la agricultura (el "granero del sur"). La Empresa GoldQuest afirma que el proyecto será una mina subterránea de bajo impacto y que aún están en fase de estudios de impacto ambiental (EIA). El presidente Luis Abinader y el Ministerio de Medio Ambiente han reiterado que no se ha aprobado la explotación. El ministro Paíno Henríquez aclaró que solo se autorizaron estudios técnicos para evaluar la viabilidad. ¿Qué es el Proyecto Romero? Se trata de un yacimiento ubicado aguas arriba de la presa de Sabaneta. Los datos técnicos indican: - Vida útil estimada: 8 años. - Extracción: Oro, cobre y plata mediante un proceso de flotación. - Inversión acumulada: Más de 50 millones de dólares en exploración durante las últimas dos décadas. Ante la presión social, el Ministerio de Medio Ambiente ha pedido calma, señalando que el Estudio de Impacto Ambiental (EIA) no se completará hasta julio de 2026. Sin embargo, el sentimiento en las calles es de desconfianza. Figuras públicas y movimientos sociales han advertido que permitir la minería en la cabecera de los ríos que irrigan el Valle de San Juan sería una "sentencia de muerte" para la economía agrícola de la región. "Estamos dispuestos a pagar con nuestra vida la defensa de San Juan; el agua es un tesoro que vale más que el oro." Mélido Mercedes, vocero del Movimiento Acción de la Zona Norte.Conviértete en un supporter de este podcast: https://www.spreaker.com/podcast/radio-ebenezer-rd--3279340/support.ESCUCHAR RADIO 

San Juan en Pie de Guerra: Crece la Tensión por el Proyecto Minero "Romero". SAN JUAN DE LA MAGUANA. La provincia de San Juan se encuentra en el epicentro de un intenso debate nacional. Lo que comenzó como una preocupación ambiental se ha transformado en un estallido social que mantiene a la región en vilo, enfrentando a las comunidades locales contra las ambiciones de explotación de oro, plata y cobre en la Cordillera Central. Hoy, domingo 3 de mayo, se lleva a cabo una gran marcha masiva que recorre la zona norte de San Juan, desde el Arco del Triunfo hasta el muro de la presa de Sabaneta. Los manifestantes, agrupados bajo el lema: "El agua no se negocia", exigen el retiro definitivo de la empresa canadiense GoldQuest. Esta movilización ocurre apenas una semana después de una huelga general de 24 horas (el pasado 27 de abril) que paralizó el 98% del comercio y el transporte en la provincia, demostrando un rechazo casi unánime a la actividad minera en la zona. Comunidades y Activistas denuncian que la mina contaminaría el río San Juan y la presa de Sabaneta, destruyendo la agricultura (el "granero del sur"). La Empresa GoldQuest afirma que el proyecto será una mina subterránea de bajo impacto y que aún están en fase de estudios de impacto ambiental (EIA). El presidente Luis Abinader y el Ministerio de Medio Ambiente han reiterado que no se ha aprobado la explotación. El ministro Paíno Henríquez aclaró que solo se autorizaron estudios técnicos para evaluar la viabilidad. ¿Qué es el Proyecto Romero? Se trata de un yacimiento ubicado aguas arriba de la presa de Sabaneta. Los datos técnicos indican: - Vida útil estimada: 8 años. - Extracción: Oro, cobre y plata mediante un proceso de flotación. - Inversión acumulada: Más de 50 millones de dólares en exploración durante las últimas dos décadas. Ante la presión social, el Ministerio de Medio Ambiente ha pedido calma, señalando que el Estudio de Impacto Ambiental (EIA) no se completará hasta julio de 2026. Sin embargo, el sentimiento en las calles es de desconfianza. Figuras públicas y movimientos sociales han advertido que permitir la minería en la cabecera de los ríos que irrigan el Valle de San Juan sería una "sentencia de muerte" para la economía agrícola de la región. "Estamos dispuestos a pagar con nuestra vida la defensa de San Juan; el agua es un tesoro que vale más que el oro." Mélido Mercedes, vocero del Movimiento Acción de la Zona Norte.Conviértete en un supporter de este podcast: https://www.spreaker.com/podcast/musica-cristiana--4958188/support.

San Juan en Pie de Guerra: Crece la Tensión por el Proyecto Minero "Romero". SAN JUAN DE LA MAGUANA. La provincia de San Juan se encuentra en el epicentro de un intenso debate nacional. Lo que comenzó como una preocupación ambiental se ha transformado en un estallido social que mantiene a la región en vilo, enfrentando a las comunidades locales contra las ambiciones de explotación de oro, plata y cobre en la Cordillera Central. Hoy, domingo 3 de mayo, se lleva a cabo una gran marcha masiva que recorre la zona norte de San Juan, desde el Arco del Triunfo hasta el muro de la presa de Sabaneta. Los manifestantes, agrupados bajo el lema: "El agua no se negocia", exigen el retiro definitivo de la empresa canadiense GoldQuest. Esta movilización ocurre apenas una semana después de una huelga general de 24 horas (el pasado 27 de abril) que paralizó el 98% del comercio y el transporte en la provincia, demostrando un rechazo casi unánime a la actividad minera en la zona. Comunidades y Activistas denuncian que la mina contaminaría el río San Juan y la presa de Sabaneta, destruyendo la agricultura (el "granero del sur"). La Empresa GoldQuest afirma que el proyecto será una mina subterránea de bajo impacto y que aún están en fase de estudios de impacto ambiental (EIA). El presidente Luis Abinader y el Ministerio de Medio Ambiente han reiterado que no se ha aprobado la explotación. El ministro Paíno Henríquez aclaró que solo se autorizaron estudios técnicos para evaluar la viabilidad. ¿Qué es el Proyecto Romero? Se trata de un yacimiento ubicado aguas arriba de la presa de Sabaneta. Los datos técnicos indican: - Vida útil estimada: 8 años. - Extracción: Oro, cobre y plata mediante un proceso de flotación. - Inversión acumulada: Más de 50 millones de dólares en exploración durante las últimas dos décadas. Ante la presión social, el Ministerio de Medio Ambiente ha pedido calma, señalando que el Estudio de Impacto Ambiental (EIA) no se completará hasta julio de 2026. Sin embargo, el sentimiento en las calles es de desconfianza. Figuras públicas y movimientos sociales han advertido que permitir la minería en la cabecera de los ríos que irrigan el Valle de San Juan sería una "sentencia de muerte" para la economía agrícola de la región. "Estamos dispuestos a pagar con nuestra vida la defensa de San Juan; el agua es un tesoro que vale más que el oro." Mélido Mercedes, vocero del Movimiento Acción de la Zona Norte.Conviértete en un supporter de este podcast: https://www.spreaker.com/podcast/meditacion-del-dia--4064350/support.ESCUCHAR RADIO 

San Juan en Pie de Guerra: Crece la Tensión por el Proyecto Minero "Romero". SAN JUAN DE LA MAGUANA. La provincia de San Juan se encuentra en el epicentro de un intenso debate nacional. Lo que comenzó como una preocupación ambiental se ha transformado en un estallido social que mantiene a la región en vilo, enfrentando a las comunidades locales contra las ambiciones de explotación de oro, plata y cobre en la Cordillera Central. Hoy, domingo 3 de mayo, se lleva a cabo una gran marcha masiva que recorre la zona norte de San Juan, desde el Arco del Triunfo hasta el muro de la presa de Sabaneta. Los manifestantes, agrupados bajo el lema: "El agua no se negocia", exigen el retiro definitivo de la empresa canadiense GoldQuest. Esta movilización ocurre apenas una semana después de una huelga general de 24 horas (el pasado 27 de abril) que paralizó el 98% del comercio y el transporte en la provincia, demostrando un rechazo casi unánime a la actividad minera en la zona. Comunidades y Activistas denuncian que la mina contaminaría el río San Juan y la presa de Sabaneta, destruyendo la agricultura (el "granero del sur"). La Empresa GoldQuest afirma que el proyecto será una mina subterránea de bajo impacto y que aún están en fase de estudios de impacto ambiental (EIA). El presidente Luis Abinader y el Ministerio de Medio Ambiente han reiterado que no se ha aprobado la explotación. El ministro Paíno Henríquez aclaró que solo se autorizaron estudios técnicos para evaluar la viabilidad. ¿Qué es el Proyecto Romero? Se trata de un yacimiento ubicado aguas arriba de la presa de Sabaneta. Los datos técnicos indican: - Vida útil estimada: 8 años. - Extracción: Oro, cobre y plata mediante un proceso de flotación. - Inversión acumulada: Más de 50 millones de dólares en exploración durante las últimas dos décadas. Ante la presión social, el Ministerio de Medio Ambiente ha pedido calma, señalando que el Estudio de Impacto Ambiental (EIA) no se completará hasta julio de 2026. Sin embargo, el sentimiento en las calles es de desconfianza. Figuras públicas y movimientos sociales han advertido que permitir la minería en la cabecera de los ríos que irrigan el Valle de San Juan sería una "sentencia de muerte" para la economía agrícola de la región. "Estamos dispuestos a pagar con nuestra vida la defensa de San Juan; el agua es un tesoro que vale más que el oro." Mélido Mercedes, vocero del Movimiento Acción de la Zona Norte.Conviértete en un supporter de este podcast: https://www.spreaker.com/podcast/tu-historia-preferida--4231678/support.ESCUCHAR RADIO 

San Juan en Pie de Guerra: Crece la Tensión por el Proyecto Minero "Romero". SAN JUAN DE LA MAGUANA. La provincia de San Juan se encuentra en el epicentro de un intenso debate nacional. Lo que comenzó como una preocupación ambiental se ha transformado en un estallido social que mantiene a la región en vilo, enfrentando a las comunidades locales contra las ambiciones de explotación de oro, plata y cobre en la Cordillera Central. Hoy, domingo 3 de mayo, se lleva a cabo una gran marcha masiva que recorre la zona norte de San Juan, desde el Arco del Triunfo hasta el muro de la presa de Sabaneta. Los manifestantes, agrupados bajo el lema: "El agua no se negocia", exigen el retiro definitivo de la empresa canadiense GoldQuest. Esta movilización ocurre apenas una semana después de una huelga general de 24 horas (el pasado 27 de abril) que paralizó el 98% del comercio y el transporte en la provincia, demostrando un rechazo casi unánime a la actividad minera en la zona. Comunidades y Activistas denuncian que la mina contaminaría el río San Juan y la presa de Sabaneta, destruyendo la agricultura (el "granero del sur"). La Empresa GoldQuest afirma que el proyecto será una mina subterránea de bajo impacto y que aún están en fase de estudios de impacto ambiental (EIA). El presidente Luis Abinader y el Ministerio de Medio Ambiente han reiterado que no se ha aprobado la explotación. El ministro Paíno Henríquez aclaró que solo se autorizaron estudios técnicos para evaluar la viabilidad. ¿Qué es el Proyecto Romero? Se trata de un yacimiento ubicado aguas arriba de la presa de Sabaneta. Los datos técnicos indican: - Vida útil estimada: 8 años. - Extracción: Oro, cobre y plata mediante un proceso de flotación. - Inversión acumulada: Más de 50 millones de dólares en exploración durante las últimas dos décadas. Ante la presión social, el Ministerio de Medio Ambiente ha pedido calma, señalando que el Estudio de Impacto Ambiental (EIA) no se completará hasta julio de 2026. Sin embargo, el sentimiento en las calles es de desconfianza. Figuras públicas y movimientos sociales han advertido que permitir la minería en la cabecera de los ríos que irrigan el Valle de San Juan sería una "sentencia de muerte" para la economía agrícola de la región. "Estamos dispuestos a pagar con nuestra vida la defensa de San Juan; el agua es un tesoro que vale más que el oro." Mélido Mercedes, vocero del Movimiento Acción de la Zona Norte.Conviértete en un supporter de este podcast: https://www.spreaker.com/podcast/noticias-en-espanol--3690946/support.ESCUCHAR RADIO 

Cash cattle just blew the doors off. Northern trade hit $256/cwt, smashing last week's $248.38 record by $7.62 in one shot, while Texas printed $250 and the June board tried to hang onto its breakout by 30 cents at $253.45. We talk why the cash bid is this hot — 75‑year low cow herd, shrinking plant capacity, and over a million burned acres in the Sandhills — and what has to break on the demand side before this market finally cools off. Then we go straight into boxed beef, packer margins, and some cleanup. The script overpromised on the inversion flip, the live hedge got it closer, and yesterday's packer margin number was wrong — we fix it and lay out what it really looks like when packers are deep in the red while cash cattle keep ripping. Markets Flash covers cattle, hogs, grains, energy, metals, and rates: KC HRW wheat up $1.08 on drought and fire, Chicago wheat up 30 cents, beans nudging higher on Trump–Xi summit hopes, WTI crude screaming to $107.68 and Brent to $117.30, AAA diesel clinging to $5.464 with a lag that won't last. If you buy fuel and feed for a living, this one matters. Sale Barn Pulse hits the country tape from Lone Star Stockyards, OKC West, Joplin, and Winter Livestock — head counts, price direction, and how local scarcity and green boards are showing up in actual checks. We also tip our hat to the high‑end horse and youth steer world with the NCHA Super Stakes results and RodeoHouston's $1.5 million “Zinger” steer. Inputs/Energy and the War Reel connect Hormuz tanker grabs, war‑risk insurance, and EIA draws to what you'll pay for diesel and fertilizer in May. Rural Americana and Policy/Macro wrap it with the SDRP deadline, rural mental health, rural hospital bankruptcy, the Farm Bill coming out of House Rules, Monsanto v. Durnell, and the rest of the policy noise headed your way. Stick around for the close — On This Day, sports, a quick recap, and your reminder to call FSA before you miss free disaster money. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kevin discusses and covers the following stories: the National Association of Realtors released the March Pending Home Sales Report; Omdia Automotive reported March U.S. Class 8 sales; oil prices continue to react to disruptions in the Strait of Hormuz, potential peace talks with whichever faction is in charge and EIA reports on gasoline and distillate inventories; gas prices continue their downward trend; Kevin has the details, digs into the data, puts the information into historical perspective, offers his insights and opinions.See omnystudio.com/listener for privacy information.

Kevin discusses and covers the following stories: the National Association of Realtors released the March Pending Home Sales Report; Omdia Automotive reported March U.S. Class 8 sales; oil prices continue to react to disruptions in the Strait of Hormuz, potential peace talks with whichever faction is in charge and EIA reports on gasoline and distillate inventories; gas prices continue their downward trend; Kevin has the details, digs into the data, puts the information into historical perspective, offers his insights and opinions.

Kevin discusses and covers the following stories: the National Association of Realtors released the March Pending Home Sales Report; Omdia Automotive reported March U.S. Class 8 sales; oil prices continue to react to disruptions in the Strait of Hormuz, potential peace talks with whichever faction is in charge and EIA reports on gasoline and distillate inventories; gas prices continue their downward trend; Kevin has the details, digs into the data, puts the information into historical perspective, offers his insights and opinions.See omnystudio.com/listener for privacy information.

Cargill is shutting down its Milwaukee beef plant and cutting 221 jobs because the U.S. cattle herd is too tight to keep every old kill floor fed. The board is skittish, packer margins are ugly, and diesel is still high enough to hurt. In this Thursday 4/23/26 Friggin' Farm & Ranch Report, we break down what that Cargill closure really signals about the cattle cycle, packer leverage, and plant towns — then walk the tape from cash cattle and boxed beef inversion all the way out to crude, diesel, fertilizer, and policy. We hit: – Live cattle, feeders, hogs, cash trade, and the CME Feeder Index – Boxed beef still running Select over Choice and packer margins around –$195/head – Corn firm, beans softer, KC wheat hanging in – WTI back near $93, Brent over $100, and AAA diesel sitting around $5.49 – EIA showing crude builds but big gasoline and distillate draws – Fertilizer sticker shock on anhydrous, urea, DAP, MAP, and potash – Sale barn pulse from OKC West and Joplin, plus bred cow and pair values – Horse market highlights out of Fort Worth, Vegas, and Heritage Place – War reel from the Strait of Hormuz back to ranch fuel, freight, and urea – Farm Bill credit limits, China soy going quiet into the Trump–Xi summit – Screwworm and rural broadband as the slow‑burn threats Tone calls at the end: cattle neutral‑to‑cautiously bullish, feeders soft, hogs firm, corn steady, beans soft, crude hot, diesel still too high, fertilizer nasty, rates neutral‑friendly. If you live off cattle checks and diesel tanks, this episode is built for you. Move your ass — we're burnin' daylight. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Trump kicks the can on the Iran ceasefire, and Iran answers by grabbing two more ships in the Strait of Hormuz while firing on a third. EIA prints a surprise crude draw — 1.9 million barrels pulled when the street was looking for a 2.2 million barrel build — and diesel is sitting at $5.511 at the pump with WTI riding $91–$92. Meanwhile the cattle board has printed five straight red days, June live at $242.875, even as cash holds $248 and boxed beef stays inverted with Select still a buck over Choice. On today's Friggin' Farm & Ranch Report for Wednesday, April 22, 2026, we walk through: • Why live cattle is correcting on paper while the country trade and the cutout refuse to blink. • What a 4.1 million barrel bullish swing in one EIA print means for your diesel contract and fertilizer bill. • How Superior Livestock just sold a record 57,077 head and why 750-pound steers at $408 and 500-pound calves at $552.50 do not look like a "market top" in the country. • The war reel out of Hormuz, what "operationally closed" really means when Iran controls 20% of global crude flow, and how many seized ships it takes to put WTI at $95–$100. • DTN's latest fertilizer board — anhydrous back over $1,000, urea up 34% month over month — plus why every major input on your balance sheet runs through somebody else's choke point. • Rural Americana: five stories that'll make you feel better about the next generation, and three gut punches from rural hospitals, drought, and school consolidation. • Policy and macro: Farm Bill clock, DOJ packer probe, HPAI in dairy, screwworm watch, USMCA review, Trump–Xi summit, H-2A wages, and why nobody is cutting your operating note rate anytime soon. Tone calls to close it out: • Cattle board — bearish near term, oversold and due a snap-back if cash holds. • Cash cattle — firm. • Cutout — bullish, with broad-based beef demand. • Corn — bullish bias. Beans — neutral. Wheat — bullish on KC drought. • Crude and diesel — bullish, lock in if you haven't. • Gold and silver — bullish, fear trade and industrial bid both on. Lock your diesel, watch packer bids like a hawk, track the ship count in Hormuz — and remember, it's a "don't screw up" market, not a "get rich" market. Move your ass, we're burnin' daylight. Learn more about your ad choices. Visit megaphone.fm/adchoices

Our hosts try to make sense of conflicting developments in this city state. Synopsis: Every first and third Tuesday of the month, The Straits Times provides you with a South-east Asian perspective to global environmental challenges. Trees can keep urban environments cool, and Singapore has been leveraging this “superpower” of nature by expanding its tree-planting efforts. There is a plan to plant a million trees across the country by 2030, while organisations are rolling out microforests and skyrise greenery to beautify and cool down concrete environments. Yet, at the same time, Singapore is also cutting down secondary forests to meet other national needs, including for housing and industrial purposes. How can we make sense of this green paradox? Listen to the discussion on this episode of Green Pulse, and stay tuned till the end for a special announcement! Highlights of conversation (click/tap above): 1:50 How has Singapore’s greening strategy changed over the years? 11:40 What are some existing tools used in Singapore to make decisions on which secondary forest plot to conserve or develop? 18:15 Can Singapore consider an EIA law or biodiversity offsets? 25:25 Do Singaporeans recognise the inherent value of nature? Green Pulse LinkedIn newsletter: https://str.sg/green-pulse-nl Follow Audrey Tan on LinkedIn: https://str.sg/848W Read her articles: https://str.sg/JLM2 Follow David Fogarty on LinkedIn: https://str.sg/jcvy Read his articles: https://str.sg/JLMu Hosts: Audrey Tan (audreyt@sph.com.sg) & David Fogarty (dfogarty@sph.com.sg) Produced & edited by: Hadyu Rahim Executive producers: Ernest Luis & Lynda Hong Follow Green Pulse Podcast here and get notified for new episode drops: Channel: https://str.sg/JWaf Apple Podcasts: https://str.sg/JWaY Spotify: https://str.sg/JWag Feedback to: podcast@sph.com.sg --- Follow more ST podcast channels: All-in-one ST Podcasts channel: https://str.sg/wvz7 Get more updates: http://str.sg/stpodcasts The Usual Place Podcast YouTube: https://str.sg/theusualplacepodcast --- Get The Straits Times app, which has a dedicated podcast player section: The App Store: https://str.sg/icyB Google Play: https://str.sg/icyX --- #greenpulseSee omnystudio.com/listener for privacy information.

Our hosts try to make sense of conflicting developments in this city state. Synopsis: Every first and third Tuesday of the month, The Straits Times provides you with a South-east Asian perspective to global environmental challenges. Trees can keep urban environments cool, and Singapore has been leveraging this “superpower” of nature by expanding its tree-planting efforts. There is a plan to plant a million trees across the country by 2030, while organisations are rolling out microforests and skyrise greenery to beautify and cool down concrete environments. Yet, at the same time, Singapore is also cutting down secondary forests to meet other national needs, including for housing and industrial purposes. How can we make sense of this green paradox? Listen to the discussion on this episode of Green Pulse, and stay tuned till the end for a special announcement! Highlights of conversation (click/tap above): 1:50 How has Singapore’s greening strategy changed over the years? 11:40 What are some existing tools used in Singapore to make decisions on which secondary forest plot to conserve or develop? 18:15 Can Singapore consider an EIA law or biodiversity offsets? 25:25 Do Singaporeans recognise the inherent value of nature? Green Pulse LinkedIn newsletter: https://str.sg/green-pulse-nl Follow Audrey Tan on LinkedIn: https://str.sg/848W Read her articles: https://str.sg/JLM2 Follow David Fogarty on LinkedIn: https://str.sg/jcvy Read his articles: https://str.sg/JLMu Hosts: Audrey Tan (audreyt@sph.com.sg) & David Fogarty (dfogarty@sph.com.sg) Produced & edited by: Hadyu Rahim Executive producers: Ernest Luis & Lynda Hong Follow Green Pulse Podcast here and get notified for new episode drops: Channel: https://str.sg/JWaf Apple Podcasts: https://str.sg/JWaY Spotify: https://str.sg/JWag Feedback to: podcast@sph.com.sg --- Follow more ST podcast channels: All-in-one ST Podcasts channel: https://str.sg/wvz7 Get more updates: http://str.sg/stpodcasts The Usual Place Podcast YouTube: https://str.sg/theusualplacepodcast --- Get The Straits Times app, which has a dedicated podcast player section: The App Store: https://str.sg/icyB Google Play: https://str.sg/icyX --- #greenpulseSee omnystudio.com/listener for privacy information.

Lom na těžbu živce chce za Benešovicemi u silnice ve směru na Stříbro už otevřít firma LB Minerals. Odpor obcí zesílil, když firma dokončila posudek EIA, tedy hodnocení vlivů na životní prostředí.

Mark Brennan, Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review their full year 2025 financial and operational metrics at the producing Minera Don Nicolas (MDN) gold mine in Argentina.  We discuss the aggressive 70,000 meter exploration program on tap for MDN into 2026, review the permitting process at the Lagoa Salgada VMS Project in Portugal and the key development catalysts on tap at the Mont Sorcier Iron-Vanadium project in Quebec.   2025 Financial Highlights   Annual Production for 2025 of 50,238 Gold Equivalent Ounces (“GEO”); and AISC of US$1,746 per ounce, in line with guidance 2026 Production guidance of 50,000 to 60,000 GEO weighted to H2/26 Adjusted EBITDA of $22.3 million for Q4, and $46.1 million for the full year AISC of $1,391 during Q4 vs $1,953 in Q4/24 due to higher production Completed hedging program provides full future leverage to high gold prices Focus remains on ramping up underground production during Q2/Q3, while water availability returns heap leach production to nameplate capacity and lower unit costs Extensive operational optimizations are completed and underway to reduce unit costs and expand production capabilities  70,000 meter Exploration Program positioned to support resource growth at MDN with four new owner-operated drill rigs currently turning at surface. Additionally underground is set to commence in the next couple of months.   Mark and I review their Minera Don Nicolas producing gold project in Argentina, and the combination of heap leach and underground gold equivalent ounce production for the quarter. With improved crushing for the quantity of ore being put on the leach pads and the contribution of new higher-grade areas from the underground mining running through the CIL plant, this will help reduce down unit costs in 2026.  We highlight how the ongoing 70,000 meter drill program will be looking to extend mine life in a substantial way and find new high-grade areas for future mine sequencing.   Next we got an update on the ongoing work from the previously announced unfavourable opinion of the environmental impact assessment (EIA) for the Lago Salgada VMS Project in Portugal. This ‘unfavourable opinion' was issued after expiry of statutory deadline under Portuguese EIA legislation. The Company maintains its position that the project has been tacitly approved. Mark reiterated that the purported unfavorable opinion was issued despite the project being the first mining project in Portuguese history to receive unanimous favourable opinion for the Project by all 17 people that make up the Technical Evaluation Committee. The Company is working on a resolution and will update the market when it has more information.   Moving on to the Mont Sorcier Iron Project in Quebec, there are final workstreams feeding into the Bankable Feasibility Study slated for release here in Q2 of 2026. Recent metallurgical test work has reaffirmed the potential to produce high-grade and high-purity iron concentrate grading in excess of 67% iron with silica and alumina content below 2.3%, which gets a premium in the iron marketplace.  The NPV(8%) of the is project in the prior PEA was US$1.6Billion, so even at a very low multiple being applied to this Project, it more than underpins the current market cap that the company is currently receiving, and yet the market cap doesn't even fully reflect the gold production asset.   We wrap up discussing the underappreciated valuation that the company is receiving for the both the producing MDN mine in Argentina, the development-stage Lagoa Salgada and large Net Present Value of the Mont Sorcier Project.     If you have questions for Mark regarding Cerrado Gold, then please email those to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Cerrado Gold at the time of this recording, and may choose to buy or sell shares at any time.   Click here to see the latest news from Cerrado Gold.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this episode, host Kelsey Hipkin chats with Matt Geib and Don MacDonald of AMTA's Professional Truck Driving Championship (PTDC) committee.In our conversation, we look ahead to AMTA's upcoming 76th PTDC, which returns to our EIA office on May 30, 2026. We discuss the specifications of the competition and what it takes to navigate the course, the importance of having an event that celebrates commercial drivers, what the future holds for this event, and more.Commercial drivers ensure goods and services in Alberta get to where they need to go, and this event serves to highlight the skillsets required behind the wheel. 2026 categories are Straight Truck, Day Cab Tractor, Bunk Truck Tractor, B Train, and CONFIRMED for this year's event, we have added a new category: Tandem Steer/Tri-Drive.Driver and Volunteer registration is open now! (registration closes May 22)Please note registration for both Drivers and Volunteers goes quickly. Learn more about PTDC on our website: https://amta.ca/event/2026-professional-truck-driving-championship/.If you have any questions or concerns about topics related to what was discussed in this episode, or commercial transportation and driver safety, please do not hesitate to contact our Member Services team at memberservices@amta.ca.TODAY (April 10, 2026) IS YOUR FINAL CALL for AMTA's 88th Annual Conference! Join us at the Grey Eagle Event Centre on April 22-23, 2026, for a jam-packed program covering industry, enforcement, communication, and the impacts of artificial intelligence. As well as our awards dinner, tradeshow, and more. Get your tickets before they are gone: https://www.amtaconference.ca/.AMTA has secured our dates for our 2026 Safety Summits. Register now for Medicine Hat on May 14 and Whitecourt on September 30.Are you interested in getting involved with the AMTA? Please contact membership@amta.ca for Membership opportunities and learn the value that AMTA can bring to you and your organization.AMTA seeks to represent our Members in all facets of the industry, but that only works if we hear from you on the issues affecting your day-to-day. We encourage everyone to reach out and share their thoughts and ideas. Please don't hesitate to contact us at memberservices@amta.ca. Do you have an idea for a future Steering Change series? Message us at marcom@amta.ca. Listeners, don't forget about the AMTA Mailbag! We want to hear from you with your industry queries. DM us with your questions, and we will answer via the AMTA Mailbag segment in future episodes or directly via our team of advisors.  Join the conversation at: Web: amta.caInstagram: amta_ca/Facebook: AlbertaMotorTransportAssociationLinkedIn: alberta-motor-transport-associationThank you for taking the time to listen. We encourage you to share this episode with those in your network who would receive value from our conversation. Make sure to hit that subscribe button and have a safe day! 

A three-year investigation by the Environmental Investigation Agency (EIA) and Congolese NGO Premi Congo uncovered severe health consequences for communities living near the Tenke Fungurume Mine (TFM) in the Democratic Republic of Congo, the world's largest copper-cobalt mine.  Residents report nosebleeds, coughing up blood, and a troubling rise in stillbirths, all linked to high levels of sulfur dioxide emitted by a processing plant at TFM operated by Chinese mining giant CMOC Group. Luke Allen, a senior African program campaigner and one of the authors of the report, joins Eric & Géraud to discuss how the investigation also exposed major problems in corporate certifications that are supposed to call out this kind of environmental harm, but instead gave cover to the very companies causing it.

John Miniotis, President and CEO of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), joins us to review the news out March 30th, reporting on the initial drill results from its ongoing Phase VI exploration program, including results from Condoryacu and Oculto East. We also discussed the upcoming catalysts of the updated Mineral Resource estimate (“MRE”), Definitive Feasibility Study (“DFS”), Environmental Impact Assessment (EIA) permit, and ongoing Phase 6 Exploration Program for the balance of 2026.   The Company announced that it has completed the acquisition of the Condoryacu and Maria Amalia properties, located immediately adjacent to its flagship Diablillos project in Argentina. The acquisitions were completed following final payments of US$2.5 million for the Condoryacu property and US$250,000 for the María Amalia concession, as previously announced on February 17, 2026.   At Condoryacu, initial confirmatory drilling has returned very strong results, including a broad, high-grade intercept of 72 metres grading 18.7 g/t gold, 117 g/t silver and 2.06% copper beginning at surface. These results confirm the presence of a high-grade precious and base metal mineralized system that appears to be related to the broader Oculto-JAC hydrothermal system at Diablillos. The 72-metre intercept grading 18.7 g/t gold represents the strongest gold grade-thickness intersection ever reported within the broader Diablillos district.   At Oculto East, the first drill hole of the Phase VI campaign (DDH 26-001) intersected a broad, continuous zone of oxide gold and silver mineralization extending beyond the limits of the current conceptual open pit, further demonstrating the scale and continuity of the overall mineralized system. Follow-up drilling is underway as part of an extensive program to expand and define gold-silver mineralization several hundred metres east of the open pit margin.  John takes us through the busy year of catalysts the company has on tap, starting with all the drilling data from Phase V being compiled into an updated Resource Estimate that will come out in parallel with their Definitive Feasibility Study, which is due out in the 2nd quarter of 2026.  Additionally, the Company is awaiting their EIA permit, which will be the trigger for a construction decision later in the year. There will also be the ongoing Phase 6 exploration program expanding the deposit size and resources for the balance of the year, mostly at Oculto East and Oculto NorthEast, but with some holes at JAC, Cerro Viejo, and now other follow-up targets at Condoryacu.     If you have any follow up questions for John regarding at AbraSilver, then please email them into us at Fleck@kereport.com or Shad@kereport.com.   In full disclosure, Shad is a shareholder of AbraSilver Resource Corp at the time of this recording and may choose to buy or sell more shares at any time.   Click here to visit the AbraSilver website and read over the most recent news releases.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Meta shifts focus to AI with massive layoffs and $600B data center spend, Senators Warren and Hawley push EIA for mandatory data center energy-use disclosures, and Apple pledges $400 million more to its American Manufacturing Program by 2030. MP3 Please SUBSCRIBE HERE for free or get DTNS Live ad-free. A special thanks to all ourContinue reading "Meta and YouTube Found Negligent, Ordered to Pay $6M in Damages – DTH"

A surge in natural gas prices this winter was a reminder of the relationship between fuel markets and wholesale electricity prices. In the latest episode of our Power Trends podcast, U.S. Energy Information Administration's (EIA) Energy Economist Andrew Iraola and Industry Economist Lindsay Aramayo unpack what drove the recent electricity price spikes, natural gas constraints, and what we can expect in the months ahead.Aramayo discussed recent price volatility, noting that wholesale electricity prices averaged about $70 per megawatt-hour (MWh) in New York prior to Winter Storm Fern. “By the time we released our February Short-Term Energy Outlook (STEO), those prices had increased to $220 per MWh,” she said. “That helps you see how volatile wholesale prices can be, and how dependent they are on natural gas prices.”New York relies on natural gas for residential heating and electricity production. Winter Storm Fern sharply increased heating demand while temporarily reducing natural gas availability. The disruptions to natural gas supply were caused in part by “freeze‑offs,” which occur during extreme cold when water and other liquids freeze and block the flow of natural gas.The reduction in fuel availability contributed to record natural gas withdrawals and a jump in gas prices. Iraola noted the behavior of the system in January and February often helps guide the rest of the year. If there is a large storage withdrawal, that can keep inventories below the five-year average, which puts upward pressure on prices. It also makes it more difficult to rebuild inventories during injection season, which runs from March through October.The discussion underscored why natural gas remains a key driver of electricity costs, particularly in regions like New York that sit at the end of the natural gas pipeline system. This can create tighter constraints during peak demand.According to Aramayo, data center buildout is a driver of electricity demand in other regions including the Mid-Atlantic and South. In New York, it's electrification of the transportation and building sectors that's driving demand.  EIA's reports note that natural gas will remain the dominant fuel for power generation and predict natural gas price increases, driven by stronger demand, will continue to place upward pressure on wholesale electricity prices in the coming years.The STEO reflects an increasingly complex and uncertain energy environment, the economists said. When evaluating natural gas markets, analysts consider volatility shaped by weather, infrastructure constraints, and fluctuating demand.Understanding these dynamics is essential for making sense of wholesale electricity prices and for planning a reliable, affordable grid.Additional ResourcesU.S. Energy Information Administration Short-Term Energy Outlook (STEO)NYISO Winter Electricity Pricing Resource PageLearn MoreFollow us on X/Twitter @NewYorkISO, LinkedIn @NYISO, Bluesky @nyiso.comRead our blogs and watch our videos

Elaine Ellingham, President and CEO of Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF), joins me for an exploration update, with mineralization expanding upon the updated Resource Estimate of 6.5 million ounces of gold in all categories, from the combined Wenot and Gilt Creek Projects at the Company's 100%-owned Omai Gold Project in Guyana, South America.  We also discuss the dual path of the company now, split between exploration, and all the project derisking being factored into development and the upcoming updated economic study.   The Omai Property hosts two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit, with a combined updated MRE of:   2,121,000 ounces of gold (Indicated MRE), averaging 2.07 g/t Au in 31.9Mt & 4,382,000 ounces of gold (Inferred MRE), averaging 1.95 g/t Au in 69.6Mt   Multiple drills have been turning from the second half of 2025 through present where an additional ~18,000 meters of new drilling was completed at the Omai Gold property, which will then factor into the imminent updated project Resource Estimate.  That updated model will then be incorporated into the upcoming Preliminary Economic Assessment (PEA), slated for Q2 of 2026.    Multiple zones of gold mineralization were intersected in each of these recent assays from drills holes released February 25th, which will be included in the upcoming Mineral Resource Estimate ("MRE"). Highlights from the recent drill holes include:   Hole 25ODD-119W 4.18 g/t Au over 14.6m; including 9.12 g/t Au over 4.1m 2.38 g/t Au over 23.3m; including 3.95 g/t Au over 11.8m 07 g/t Au over 27.4m; including 11.64 g/t Au over 1.1m 73 g/t Au over 17.3m; including 8.61 g/t Au over 5.1m Hole 25ODD-150W3 1.94 g/t Au over 30.3m; including 3.03 g/t Au over 15.9m, and also including 14.35 g/t Au over 2.5m Hole 25ODD-159 1.75 g/t Au over 19.3m, and 14.45 g/t Au over 2.5m     The Company is also pleased to announce that next phase of exploration, with a 50,000-metre diamond drill program has commenced. It is designed to further pursue opportunities to expand the overall Omai gold resources, explore certain nearby geophysical anomalies, while continuing the priority work of upgrading the categories from inferred to indicated in the large Wenot resource; which is an important next step.  We discussed some of the regional targets of focus at Wenot East, the Camp Zone, BBH, and the Wenot "Handle Target", highlighted through geophysics studies.    This updated Preliminary Economic Assessment will be building upon the prior PEA that was released in 2024, which was only on 45% of the mineral inventory focused on the open-pit at Wenot.  That prior PEA did not yet include rest of the resources there at Wenot, nor did it include the underground project economics from the Gilt Creek deposit.  The updated PEA slated for next quarter will be much more advanced and will factor in the combined economics of the open-pit at Wenot, and the underground at Gilt Creek, representing the value proposition of the total project more accurately.   Next we reviewed the results from the very long hole, over 2,000 meters in length, that was drilled through the underground deposit at Gilt Creek over into the area deep under the Wenot deposit.  The geological thesis of drill hole # 25ODD–122W held up proving that there are additional deep sheer resources well below the known mineralization at Wenot.  This points to the much longer mine life that is inferred, even though there has not yet been extensive drilling at depth, below known Wenot mineralization, prior to that hole proving the geological thesis.      Wrapping up we discussed the company valuation compared to peers on a P/NAV basis, recent metallurgical testing, the ongoing permitting process work towards the EIA, and other derisking work on the Project, gathering all the data to be utilized in the upcoming PEA.     If you have any questions for Elaine regarding Omai Gold Mines, then please email those to me at Shad@kereport.com.   Click here to see the latest news from Omai Gold Mines.     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

WATCH the video on Substack by clicking the play button above or on YouTube (here).STREAM audio only on Apple Podcasts (here), Spotify (here), or your favorite podcast player app.DOWNLOAD a pdf of a lightly edited transcript and the slide deck using the blue Download buttons below.We recorded this video podcast on Wednesday, March 18. This week we address five questions that have arisen regarding our views on the potential long-term impacts of the war in Iran.* Does our Super-Spike oil demand destruction framework need adjusting for an abrupt geopolitical spike?* What advance warning signs are we watching to assess economic damage and risks to capital markets?* How does Iran impact our view of the traditional energy profitability cycle and terminal value recognition?* Does the war change which regions we prefer for future CAPEX?* How does Iran impact our Power Surge (power super-cycle) view?Subscribe to receive all content. Also available at Veriten.com.SLIDE 3: Super-Spike Framework In A Geopolitical Event?Key points:* Our March 2005 “Super-Spike” framework was used to assess how high oil prices could reach in order to slow oil demand growth to levels of available supply in an environment of structurally strong global GDP growth (BRICs expansion).* We chose “super” to indicate the oil upcycle was multi-year in nature. We chose “spike” to remind ourselves and our clients that inevitably oil would surely rollover as cycle dynamics ensured a future period of oversupply (or under-demand).* At the end of the day, the super-cycle is always one of sector profitability, with oil prices just one (important) component along with costs and capital intensity.Current environment:* The War in Iran and closure of the Strait of Hormuz is not analogous to that 2004-2014 period. This is an acute geopolitical disruption.* Therefore, the framework we used over 2004-2014 has its limitations. Most notably, the sudden, dramatic jump in oil prices could mean that absolute levels do not need to reach the heights implied in the table on the right.* It also suggests that “Super Vol” remains the better framing for energy commodity markets, including crude oil, oil products, and global spot LNG prices.* Be wary of perma bears and perma bulls! For the bears: cycles have to play out. For bulls: it is always a cycle.Exhibit 1: “Super-Spike” oil demand destruction frameworkSource: Bloomberg, EIA, Federal Reserve, Veriten.SLIDE 4: What Advance Warning Signs Are We Watching?* Bull to bear can happen quickly and unexpectedly…July to December 2008 saw WTI drop from over $140/bbl to under $40/bbl.* How can one differentiate between the July 2007 collapse of two Bear Stearns credit funds and the March 2023 issues with Silicon Valley Bank?* So why worry this time? The closure of the Strait of Hormuz is simply intolerable if measured in months rather than weeks. The Age of Drones is a game changer, as we see in Russia-Ukraine.* Fortress balance sheet, understanding controls and contracts, and aiming to not only survive but thrive during turmoil is the goal.SLIDE 5: How Does Iran Impact The Profitability CycleKey points:* It remains our view that traditional energy is firmly within a new profitability super-cycle that began in 2021 and would be expected to last 10+ years.* Structural profitability cycles are inherently long-term in nature, 10-15 years up, 10-15 years down. The prior downcycle ran from a 2010 peak to a 2020 trough.* Within the structural up or down cycles, numerous mini-cycles occur along the way. We believe 2025 marked a “normal” trough following a 2.5 years mini-downcycle.* We rejected “oil glut” arguments that have prevailed since Liberation Day (April 2025). We agree that the closure of the Strait of Hormuz renders impossible a true accounting of who was right—oil glutters or us.Current environment:* We have been surprised by the fact that capital discipline at the sector level has remained intact.* A true, multi-year upcycle would undoubtedly test discipline. But let's judge it as we go: so far, so good.* The main risk to seeing a “deep trough” (as opposed to normal) would be an extended closure of the Strait and a collapse in the global economy. We take this risk seriously.* The best case scenario for the profitability cycle would be a quick re-opening that ensured limited adverse global GDP impacts.Exhibit 2: Traditional energy sector profitabilitySource: Bloomberg, FactSet, VeritenSLIDE 6: Does The War Change Regional CAPEX Preferences?* There are no absolutes…it is all opportunity specific.* Oil exploration: Algeria vs UK North Sea circa 1991-1994.* Natural gas import infrastructure: New York state (Appalachia) versus Germany (Russia).* Many areas of the Middle East will attract capital irrespective of how this plays out.* Between COVID, Russia-Ukraine, and now Strait of Hormuz, supply chain security will remain ascendent as an issue. Positive for NAM, power, energy source diversification (new and old tech).SLIDE 7: What Impact Is There On Our Power Surge View?* If a general financial/credit crisis materializes, this is a sector that commonly uses leverage and is now in growth mode.* There will be winners and there will be losers.* Execution: Understanding contracts, supply chains, and liquidity are all critical.* At the end of the day, Power Surge we think persists beyond and through this war due to the need to grow power generation to address aging western world grids, industrial reshoring, electrification, and AI & digital transformation.⚡️On A Personal Note: Super-Spike ReactionsFor On A Personal Note, we refer you to the video where Arjun further reflects on his March 30, 2005 “Super-Spike period may be upon us” report.

For Super-Spiked subscribers that prefer that written posts, we have included a lightly edited transcript of the video (blue download button below) along with a downloadable copy of the slide deck.WATCH the video on Substack by clicking the play button above or on YouTube (here).STREAM audio only on Apple Podcasts (here), Spotify (here), or your favorite podcast player app.DOWNLOAD a pdf of a lightly edited transcript and the slide deck using the blue Download buttons below.We recorded this video podcast on Wednesday, March 11. As we think everyone by now realizes, the Strait Hormuz is a critical bottleneck to not only crude oil exports from the region but also LNG from Qatar. We have no idea how long the current war will last. The longer it goes, the greater the risk of a painful energy crisis materializing. We do not think that fact is lost on anyone that is participating in or observing the conflict.In this kind of very acute situation, an energy crisis would be bad for everyone be it citizens, governments, and even traditional energy companies over the long run as whatever benefit accrues from short term price appreciation would likely be lost from future economic weakness. No reasonable person in and around the energy sector is rooting for war. Even if shipping were to resume in coming days or weeks out of the Straight, we suspect the realization of what has long been considered a “worse case” geopolitical risk for oil markets—and now LNG—will motivate countries to pursue changes that mitigate this risk of future disruptions.This week we have two key messages: (1) we revisit our “Super-Spike” oil demand destruction framework we first rolled out in March 2005 at Goldman Sachs. It was a career call for us. The basic points of our analysis we think stand the test of time. (2) we discuss various diversification opportunities that we think countries will or should take to reduce the risk of future disruptions long after this current crisis has hopefully abated.Subscribe to Super-Spiked to receive all content via email. Also available on https://veriten.com.SLIDE 1: Cover SlideSLIDE 2: Strait of Hormuz: Long-Term Impacts On Oil, LNG* How will it be secured in an age of drones?* Inverse COVID: Refreshing our oil demand destruction framework.* Baseload energy diversification opportunities:* US Natural Gas: Lots of growth, where to invest?* Coal: A base-load domestic fuel, why not an EU comeback?* Nuclear: Back in vogue, but how long to grow again in US/EU?* Considerations: (1) What's real, what's hype? (2) Where in value chain to invest? (3) Who do you trust to allocate capital?SLIDE 3: Revisiting Our Oil “Super-Spike” FrameworkKey points:* We used the US since it has sizeable demand and freely floating retail gasoline prices.* Wider economy structurally outperforms gasoline.* But that means a much higher nominal price is required to destroy demand versus a prior cycle.* Gasoline demand is highly inelastic.* Both absolute price and rate of change are relevant.How to read the table/graph:* The graph shows historic gasoline spending (demand x retail price) relative to personal consumer expenditures.* Retail gasoline price equals the crude oil price + refining margin (to turn crude oil into gasoline) + gasoline taxes + “all other” (retail margin + other costs).* The table holds retail margin plus all other as constant and shows sensitivities to varying levels of gasoline spending as a % of PCE and refining margins.Exhibit 1: “Super-Spike” oil demand destruction frameworkSource: Bloomberg, EIA, Veriten.SLIDE 4: US Natural Gas: Lots of Growth, Where to Invest?US natural gas markets have doubled over past 20 years and are on-track to grow substantially over next decade. US natural gas resource is plentiful; infrastructure-enabled access to higher-valued end markets is critical.Exhibit 2: Global demand for US natural gasSource: EIA, Veriten.Exhibit 3: Gas value chain CROCISource: FactSet, VeritenSLIDE 5: Coal: A Baseload Domestic Fuel, EU Comeback?Growth in coal in China has swamped the reduction in EU and US coal use. We see no reason the EU & US could not, at a minimum, reverse the declines seen over the last 25 years. It's a drop in the bucket! Moving factories from the EU & US to China is net negative for carbon emissions, geopolitical security, and labor markets in the EU and US.Exhibit 4: Size of global power marketsSource: Energy Institute, VeritenExhibit 5: Growth in coal consumptionSource: Energy Institute, VeritenSLIDE 6: Nuclear: Back In Vogue, But How Long To Grow?Nuclear is again recognized as an important baseload fuel that can favorably add to system diversification. China is growing rapidly versus stagnation in the US and decline in EU. What opportunities exist to improve execution in the developed world? What is the viability (vs hype) of advanced technologies to boost growth?Exhibit 6: Nuclear generation by country/regionSource: Energy Institute, Veriten.⚡️On A Personal Note: 21 Years Later…

Wheat leads grains lower while soybeans manage a higher close; heavy farmer selling pressures basis; Supply/Demand shows no surprises; EIA proposing to release huge volume of crude oil from strategic reserve.

Fighting Words. This year we look at energy arguments, battles and debates: the impact of data centers on power prices, the cost of solar plus storage as baseload power, the “primary energy fallacy” that ignores waste heat, the true cost of small modular reactors, Germany's decision to shut down nuclear, China's dominance of renewable supply chains, solid oxide fuel cells as turbine alternatives, the materiality of demand response, staffing cuts at the EIA, the hype around geothermal and geologic hydrogen, the misplaced fascination with small country energy transitions, satellite vs factor-based oil & gas basin methane emissions, the mostly profitless EV industry, xAI mobile gas plant permits, negligible progress on carbon capture and renewable fuels, and the unfavorable economics of charging my Jeep Wrangler hybrid. Watch the video

John Miniotis, President and CEO of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), joins me to review the March 2nd news that announced its flagship Diablillos silver-gold project has been formally approved for inclusion under Argentina's Large Investment Incentive Regime ("RIGI").   We also discussed the upcoming catalysts of the updated Mineral Resource estimate (“MRE”), Definitive Feasibility Study (“DFS”), Environmental Impact Assessment (EIA) permit, and ongoing Phase 6 Exploration Program for the balance of 2026.   The RIGI approval was confirmed by Argentina's Minister of Economy, Luis Caputo, through his official X account on Friday February 27th. The official government resolution announcing RIGI approval for the Diablillos project is expected later in March.   RIGI is a federal investment framework designed to accelerate large-scale development projects in Argentina by providing long-term fiscal stability along with competitive tax, customs, and foreign-exchange benefits. Both Salta and Catamarca Provinces, where Diablillos is located, have opted into the regime. This RIGI approval substantially increases the project's economics, with around $1Billion in savings at current spot prices, and this provides increased certainty as Diablillos moves into its next phase of development and eventual construction.   John takes us through the busy year of catalysts the company has on tap, starting with all the drilling data from Phase V being compiled into an updated Resource Estimate that will come out in parallel with their Definitive Feasibility Study, which is due out in the 2nd quarter of 2026.  Additionally, the Company is awaiting their EIA permit, which will be the trigger for a construction decision later in the year.   John highlighted that ongoing detailed engineering work, procurement planning, and upgrades to existing infrastructure are also advancing in parallel to ensure construction readiness. Following receipt of the EIA, the Company intends to initiate early works in a phased and disciplined manner, while continuing to advance project financing to fund the mine build.   If you have any follow up questions for John regarding at AbraSilver, then please email them into me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of AbraSilver Resource Corp at the time of this recording and may choose to buy or sell more shares at any time.   Click here to visit the AbraSilver website and read over the most recent news releases.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

The six states in EIA's PADD 1C subregion — Florida, Georgia, South Carolina, North Carolina, Virginia and West Virginia — consume massive volumes of refined products but produce very little themselves. That dichotomy spurred a multi-decade buildout of highly efficient pipeline, marine and trucking networks.

Season 6, Episode 3: Welcome back to a new episode of Keeping it Real with Dr. Kuehl. ASA Chief Economist Dr. Chris Kuehl is out this week so Keith Prather: Dr. Kuehl's partner at Armada; talks to members about the volatility with oil and oil prices.ASA Chief Economist Dr. Chris Kuehl is out this week, but we are still back with a special economic update podcast hosted by Keith Prather: Managing Director at Armada Corporate Intelligence. In Season 6, Episode 3 (6:45 in length), Keith talks about the forecast for oil prices and how the winter storm came into play.What are we seeing overall per barrel?Oil prices surge to multi-month highs—what's behind the spike?Middle East vs. Venezuela — what's behind the jump in oil prices?Production being pulled back, are we producing a record amount of oil still?What happens on a geopolitical bases?What will encourage brand new production?Ukraine - is a cease fire agreement in the works?Will this allow more Russian oil to flow on the open market?EIA forecast - what are the projections?2026 through Q4 - what are the predictions of price per barrel?Ask Dr. Kuehl a Question!Have a question or topic for Chris Kuehl that you would like answered on this podcast? Email it to Brianna Dovichi at bdovichi@asa.net.

Mark Brennan, Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review their Q4 2025 financial and operational metrics at the producing Minera Don Nicolas (MDN) gold mine in Argentina.  We discuss the aggressive 70,000 meter exploration program on tap for MDN into 2026, review the permitting process at the Lagoa Salgada VMS Project in Portugal and the key development catalysts on tap at the Mont Sorcier Iron-Vanadium project in Quebec.   Q4 2025 Financial Highlights   Gold Equivalent Ounce ("GEO") Production of 13,806 GEO for the 4th Quarter 2025 Full year production of 50,238 GEO; in line with guidance Initial Underground production at Paloma achieved and now delivering ore to the plant, supporting higher grade throughput and growing production CIL plant received additional ore from underground development, mainly in December, resulting in total production of 5,968 GEO in Q4 through CIL plant Heap leach production of 7,838 GEO impacted by low water availability, reducing irrigation capacity 2026 Production Guidance of 50,000 to 60,000 GEO weighted to H2/26 Exploration Program positioned to support resource growth at MDN with four new drill rigs now on site Development activities continue to progress at both the Lagoa Salgada and Mont Sorcier projects   Mark and I review their Minera Don Nicolas producing gold project in Argentina, and the combination of heap leach and underground gold equivalent ounce production for the quarter. With improved crushing for the quantity of ore being put on the leach pads and the contribution of new higher-grade areas from the underground mining running through the CIL plant, this will help reduce down unit costs moving into 2026.  There is an ongoing 70,000 meter drill program that will be looking to extend mine life in a substantial way and find new high-grade areas.   Next we unpacked the discuss the purported unfavourable opinion of the environmental impact assessment (EIA) for the Lago Salgada VMS Project in Portugal. This ‘unfavourable opinion' was issued after expiry of statutory deadline under Portuguese EIA legislation. The Company maintains its position that the project has been tacitly approved. Mark reiterated that the purported unfavorable opinion was issued despite the project being the first mining project in Portuguese history to receive unanimous favourable opinion for the Project by all 14 entities that make up the Technical Evaluation Committee. The Company is working on a resolution and will update the market when it has more information.   Moving on to the Mont Sorcier Iron Project in Quebec, there are workstreams feeding into a Bankable Feasibility Study slated for Q2 of 2026. Recent metallurgical test work has reaffirmed the potential to produce high-grade and high-purity iron concentrate grading in excess of 67% iron with silica and alumina content below 2.3%, which gets a premium in the iron marketplace.  The NPV(8%) of the is project in the prior PEA was US$1.6Billion, so even at a very low multiple being applied to this Project, it more than underpins the current market cap that the company is currently receiving, and yet the market cap doesn't even fully reflect the gold production asset.   We wrap up discussing the underappreciated valuation that the company is receiving for the producing MDN mine in Argentina when compared to peer gold producers with even lower production numbers.  Then, when that undervaluation is viewed in combination with the value proposition from the ongoing derisking work at the Mont Sorcier, then it is clear the market hasn't been ascribed any value to that project at present; presenting a compelling rerating potential as the Feasibility Study clarifies the project economics.     If you have questions for Mark regarding Cerrado Gold, then please email those to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Cerrado Gold at the time of this recording, and may choose to buy or sell shares at any time.   Click here to see the latest news from Cerrado Gold.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

John Miniotis, President and CEO, and Dave O'Connor, Chief Geologist of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), join me to review the final silver and gold assay results from drill holes completed as part of the Phase V diamond drilling program at its wholly-owned Diablillos project in Salta Province, Argentina.   We discuss how these drill results will be incorporated into the upcoming Mineral Resource estimate (“MRE”), underpinning the Company's Definitive Feasibility Study (“DFS”), which continues to remain on track for completion in Q2/2026.     This Phase V drill program has been mostly focused on the Oculto East and JAC zones at their wholly-owned Diablillos property and the final holes demonstrated that JAC is not closed off and yielded more high-grade intercepts:   JAC: Strong near-surface silver mineralization continues to expand the Mineral Resource growth potential, including: DDH 25-096: 57.0 metres (“m”) of 51 g/t silver from 109 m downhole DDH 25-099: 13.0 m of 477 g/t silver from 151 m downhole DDH 25-104: 17.0 m of 432 g/t silver & 1.10 g/t gold from 131 m downhole, including 6.0 m at 1,093 g/t silver & 2.42 g/t gold     We review how these results continue to expand oxide-hosted silver and gold mineralization to the southwest, along the corridor between JAC and Oculto.  Dave points out that prior results in this program also expanded mineralization to the east of the Oculto deposit, extending the high-grade gold zone and highlighting the continued strong exploration upside potential across the Diablillos system.   The exploration team now believes these higher-grade gold intercepts are just the top of a porphyry deposit at depth, and pointed to the deeper hole targeting a different porphyry target at Cerro Viejo.   Additionally, we circle back to the Sombra target identified in the Phase IV drill program last year, and how it is possible that there is a parallel trend that could extend from Sombra up to Oculto East, and that more drilling will focus on that thesis in the Phase VI drill program to come.   John takes us through the busy year the company has in front of them due to a series of upcoming catalysts all the way though the end of 2026. The drilling data from Phase V will be compiled into an updated Resource Estimate that will come out in parallel with their Definitive Feasibility Study due out in the 2nd quarter of 2026.     Additionally, the Company is waiting on their EIA permits and RIGI approval, which will be the triggers for a decision to begin construction next year. John reiterates why the RIGI laws in Argentina are so economically advantageous to the Company, relaxing currency controls, reducing export duties to 0% over a couple years, and reducing taxation to 25% over a 30-year stability period.   Wrapping up John unpacks why all these catalysts will provide opportunities for the company to rerate higher, and he highlights the current valuation has the company is receiving, which is more in line with silver trading in the low $20s; which is stark contrast to spot silver prices trading well north of $100 an ounce.     If you have any follow up questions for John regarding at AbraSilver, then please email them into me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of AbraSilver Resource Corp at the time of this recording and may choose to buy or sell more shares at any time.   Click here to visit the AbraSilver website and read over the most recent news releases.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

NoKidz, Smile4me, Gitback and more horrific vanity plates are discussed. Sign up for Patreon for an extra episode each week at Patreon.com/jimflorentine   Support our sponsor: Let Rocket Money help you reach your financial goals faster at http://RocketMoney.com/EIA  

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Agriculture groups say China's lack of purchases of ag commodities under the Phase One trade deal is only a part of their failure to live up to previous commitments. The EIA reports record ethanol production. Land O' Lakes is teaming with Microsoft to introduce AI tools for agriculture. 

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Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 Leaked Texts, Argy, Soybeans4:02 Grain Stocks9:12 Govt Shutdown and Markets10:39 River Levels