Friday, August 7th, 2026- Scott Varilek and Mike Castle

On Friday's Market Talk, we start the show with Mike Castle, senior commodities economist at StoneX, to break down a rebound in grains to close out the first week of August. Mike explains why the wheat rally tied to Black Sea escalation between Russia and Ukraine has more room to run. He also details a massive week of new-crop soybean flash sales to China and shares a look at the fertilizer complex, where sulfur and ammonia supply disruptions tied to the Strait of Hormuz are already forcing plant closures, including a fresh announcement in Europe this week. In Segment Two, Susan Littlefield joins us to share a broad market conversation with Heather Ramsey from The ARC Group as they look at the markets after the first week of August. Then, Scott Varilek of Kooima Kooima Varilek joins Friday's show to break down a volatile first week of August in the cattle complex. Scott discusses the stalled recovery in live cattle, why packer interest picked up briefly near $235-236, and why he expects late August and September to bring tougher trade. He also digs into early signs of heifer retention after years of talk without much movement, why packer margins could shift leverage back in their favor, and why lean hogs have struggled to capitalize on record beef demand.