The Ever.Ag Podcast

This week on The Grain Feed, Jim, Jake, and Verl break down a deceptively quiet December WASDE that still sent ripples through corn, soybean, and wheat markets. After an early brawl over hard red vs. soft red winter wheat, the team walks through crop conditions, dormancy fundamentals, and why Kansas City wheat continues to command protein premiums.With corn exports running hot, the group discusses how strong global demand is propping up prices despite a hefty 2-billion-bushel balance sheet. Soybeans, meanwhile, continue their descent as China’s anticipated buying program fails to materialize—raising real questions about whether USDA will be forced to cut export projections in the January report.Jake also delivers a deep dive into protein and soybean meal, exploring crush margins, renewable diesel policy uncertainty, and how future EPA mandates could shift domestic oil and feed values.Packed with market insights and weather chatter, this episode gives producers a grounded, practical view of what’s moving grain markets heading into 2026.-Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

This week on Parlor to Plate, host Katie Burgess sits down with Brian Fletcher, Zach Bowers, and Natalie McCarty for a timely breakdown of dairy and grainmarkets as we head into the final stretch of 2025. With spot cheddar falling to $1.35/lb — its lowest level since July 2023 — the team unpacks how global milk production, expanding U.S. cheese capacity, and sharply discounted European mozzarella have shaped today’s downtrend.From the producer perspective, Zach explains why Class III milk checks still feel relatively insulated, why Class IV regions may feel the squeeze sooner, and why early-2026 hedging looks more like cheap insurance than a profit play.Natalie rounds out the conversation with a look at grain and protein inputs, including expectations for the December WASDE, softer soybean and meal markets, and a massive Canadian canola crop that is adding welcome relief to producer feed costs.If you manage dairy price risk—or just want to understand the forces moving milk, cheese, and feed markets—this episode offers clear, actionable insight heading into 2026._🎧 Join the Ever.Ag Insights team for data-driven perspective and expert commentary connecting dairy markets from parlor to plate.DisclaimerTRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.Music AttributionMusic: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025 — confidential and proprietary

This week on The Grain Feed, Jim Matthews and Jake Kingsley break down a rare move: corn taking the lead lower as markets brace for next Tuesday’s WASDE report. The team digs into strong U.S. export demand; the likelihood of yield cuts; and where USDA may pull accounting levers to soften the balance-sheet impact.They also cover South America’s near-ideal weather and what record Brazilian and Argentine production could mean for futures. In the protein space, soybean meal continues to ease—off more than $20/ton from recent highs—raising opportunities for producers to extend coverage before China makes a bigger splash in the market or policy shifts disrupt veg-oil dynamics.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

GDT posted its eighth consecutive decline this week, driven by heavy global milk supplies and weaker demand signals. Skim milk powder underperformed expectations at –1.7%, while whole milk powder fell 2.5% but beat futures-implied fears. Cheddar was the lone standout, jumping 7.2% on limited New Zealand volume and what appears to be highly targeted Middle East buying. Butter, however, stole the spotlight—dropping 12.2% and extending a decline now totaling more than 37% from recent highs.Regionally, China bought more than last year but less than the previous auction, Southeast Asia stepped back, and the Middle East showed strong activity—likely influencing cheese strength. Across the board, surging milk production in the U.S., Europe, New Zealand, and South America continues to weigh on prices, with supply outpacing demand and tightening U.S. export competitiveness._Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025, confidential and proprietary.

This week on Parlor to Plate, Kathleen is joined by Jon Spainhour, Katie Burgess, and Britt O’Connell to break down the eighth consecutive GDT decline and why global milk production—across the U.S., EU, and New Zealand—continues to dominate market direction. The team digs into surging cow numbers, stubbornly strong component levels, and when supply might finally tighten. Plus, a look at post-harvest feed markets, soybean uncertainty, and what producers should watch heading into early 2026._🎧 Join the Ever.Ag Insights team for data-driven perspective and expert commentary connecting dairy markets from parlor to plate.DisclaimerTRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.Music AttributionMusic: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025 — confidential and proprietary.

This week on The Grain Feed, Jim, Jake, and first-timer Owen break down a surprisingly quiet Thanksgiving-week marketplace on the grain side—while the cattle complex delivers anything but calm. The team unpacks the limit-down reaction to Tyson’s closure of its Lexington beef plant, the ripple effects of Argentine and Brazilian trade headlines, and ongoing uncertainty around Mexico’s feeder-cattle border restrictions.On the grain side, harvest is wrapped, South American planting looks strong, government data is still catching up, and markets appear stuck in a seasonal sideways grind. The crew also looks ahead to December WASDE, managed-money positioning, and what producers should consider with corn risk as futures return toward seasonal lows.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

Jim Matthews is joined by Jake Kingsley and Katie Burgess for a mid-November rundown of grain and dairy markets as both sectors trend red heading into the holiday stretch. The team breaks down bearish signals from the latest WASDE report, softening corn and soybean futures, sluggish export activity, and a dairy complex under pressure as cow numbers climb to multi-decade highs. They also discuss holiday demand patterns, butter promotions, managed money flows, and how expanding milk supply could shape early 2026 risk strategies._Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

This week’s Global Dairy Trade auction finished 2.4% lower, with the biggest pressure coming from fats: AMF fell 5% and butter dropped 7.6%, both well below expectations. Whole milk powder and skim landed close to forecasts, while mozzarella slipped below $1.50 and cheddar continued its gradual decline. Cody Koster and Jon Spainhour also highlight notable regional shifts, including stronger buying from the Middle East and Africa, softer demand from Southeast Asia, and China maintaining steady but seasonally slower activity. Jon closes by explaining why auctions are moving faster, with fewer rounds and shorter intervals than usual_Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025, confidential and proprietary.

This week on Parlor to Plate, host Katie Burgess sits down with Brian Fletcher and Ryan Yonkman from Ever.Ag’s Chicago office to unpack the overwhelmingly bearish tone dominating the dairy markets. The team recaps takeaways from the CME/ADPI Risk Management Conference, including concerns about persistently strong U.S. and European milk production, global cheese parity, and why 2026 futures are struggling to follow spot market rallies.With Thanksgiving around the corner, the team offers a candid, data-driven look at how supply, demand, and the calendar are shaping the market heading into early 2026.New episodes return after the holiday break._🎧 Join the Ever.Ag Insights team for data-driven perspective and expert commentary connecting dairy markets from parlor to plate.DisclaimerTRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.Music AttributionMusic: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025 — confidential and proprietary.

This week on The Grain Feed, Jim Matthews and Jake Kingsley break down what to expect from Friday’s long-awaited WASDE report — the first real government data since September. With markets chopping higher, harvest nearly complete, and export uncertainty mounting, the team digs into the key questions driving corn, soybean, and meal markets.In this episode:How traders are positioning heading into WASDEWhy corn yields may drop — but ending stocks could still riseThe growing demand concerns after weeks of flying blindSoybean export headaches: China headlines vs. real movementSouth America’s strong start and what it means for U.S. pricesPotential opportunities for feed buyers as volatility returnsAs always, The Grain Feed delivers clear, producer-focused insight to help dairy and livestock operations manage risk in a fast-moving market.Brought to you by Ever.Ag.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

In this week’s Parlor to Plate, host Kathleen Wolfley welcomes Jon Spainhour, Coy Kadis, and Brandon Weigel from the Ever.Ag Financial Services team for a sharp look at dairy market dynamics as 2026 approaches. Fresh USDA data shows U.S. milk production up 4%, with global output climbing across Europe and New Zealand—adding downward pressure on cheese prices even as protein markets heat up.Jon breaks down how the GLP-1 weight-loss trend is fueling record demand for whey and WPC-80, while Coy explores herd economics, culling decisions, and margin resilience. Brandon wraps things up with insights from the grain and feed complex, including China’s rumored soybean purchases and what traders are watching ahead of the WASDE report.🧠 Topics Covered:Surging U.S. milk production and herd expansionThe global “protein craze” driving whey and WPC-80 pricesEuropean cheese glut limiting U.S. export potentialSoybean and feed market volatility tied to China’s activity🎧 Join the Ever.Ag Insights team for data-driven perspective and expert commentary connecting dairy markets from parlor to plate.DisclaimerTRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.Music AttributionMusic: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025 — confidential and proprietary.

Host Jim Matthews takes the reins for a solo edition of The Grain Feed, breaking down a turbulent week in ag markets. Soybean and meal prices swing sharply as traders react to U.S.–China trade uncertainty, while harvest wraps up under near-perfect weather across the Midwest. Jim also previews the long-awaited USDA reports, digs into yield expectations, and looks at how South American planting and global demand could shape the weeks ahead.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

Host Erica Maedke is joined by Tiffany LaMendola, Natalie McCarty, and John Billington for a coast-to-coast look at what’s shaping today’s ag markets. From renewed U.S.–China soybean trade activity and grain rallies to record-low butter prices and rising global milk production, the team unpacks how shifting supply dynamics and export demand are influencing feed, grain, and dairy markets. Recorded November 5 during active spot trading, this episode delivers timely insight for producers and processors navigating a volatile marketplace.Hosted by Erica Maedke with Tiffany LaMendola, Natalie McCarty, and John Billington.DisclaimerTRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.Music AttributionMusic: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025 — confidential and proprietary.

Cody Koster and Jon Spainhour unpack the latest Global Dairy Trade results, where the overall index slipped 2.9%. They dig into why cheddar and butter prices took sharp hits while mozzarella showed surprising strength—plus how global demand from China, Southeast Asia, and the Middle East is shaping the dairy export landscape. From auction trends to market signals, get the insights that matter most for dairy producers, traders, and processors ahead of the next GDT on November 18.Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025, confidential and proprietary.

In this Halloween-week episode of Parlor to Plate from Ever.Ag Insights, the team breaks down a market full of “tricks and treats.” A surprise U.S.–China trade framework pushes grain futures higher to start the week, even as details remain thin and optimism cautious. On the cattle side, political pressure to cool beef prices — including expanded import conversations with Argentina, Brazil, and Mexico — has knocked both live cattle and feeders sharply lower. Meanwhile, whey prices continue to climb on booming high-protein demand, and the cheese market may be setting up for a post-holiday slide as U.S. prices outrun global competition.Hosted by Katie Burgess with Britt O’Connell, Matt Tranel, and John Spainhour.DisclaimerTRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.Music AttributionMusic: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025 — confidential and proprietary.

View the video version of this episode here.With USDA reports still offline during the government shutdown, grain markets are trading without the usual data backdrop — even as harvest barrels toward the finish line.This week on The Grain Feed, Jim Matthews and Jake Kingsley talk through what a “no-report October” means for basis, board behavior, and near-term risk decisions as corn moves past 60% harvested and soybeans approach three-quarters complete. They unpack why basis pressure may soon fade, how soymeal continues to find long-term support near $280, and how China-linked trade headlines and Argentina sales are propping up the soy complex. The conversation closes with a look ahead to early 2026 positioning and why locking in coverage near the bottom of the range may make sense before harvest tailwinds disappear.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

In this week’s episode of Parlor to Plate from Ever.Ag Insights, the panel reacts to a market running without USDA reports while global milk output continues to climb. GDT weakness, heavy supply, and muted demand set a bearish tone for early 2025. Producers remain cautious — lower feed costs and strong beef revenue help margins for now, but recent government pressure on beef pricing is rattling cattle futures. In feed, harvest advances with tight ranges in corn and beans, while soybean meal bounces on China trade optimism.Hosted by Kathleen Wolfley with Kevin Peterson, Zach Bowers, and Jake Kingsley..--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025, confidential and proprietary.

In this episode of Parlor to Plate, from Ever.Ag Insights, the team takes stock of early October market dynamics across cheese, butter, grains, and feed. Global dairy markets remain soft as European mozzarella prices hit multi-year lows and U.S. milk output keeps climbing, pressuring futures into 2026. On the producer side, beef-on-dairy returns are holding steady even as margins tighten, while rapid harvest progress and mixed yields keep grain prices rangebound.Join host Kathleen Wolfley and panelists John Billington, Colin Kadis, and Brandon Weigel for a lively discussion.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025, confidential and proprietary.

View the video version of this episode here.With the U.S. government shutdown stalling key reports, traders and producers alike are navigating harvest season without their usual data lifelines. In this week’s Grain Feed, Jim Matthews is joined by Jake Kingsley and Verl Prather to unpack how the lack of USDA updates is shaping corn, soybean, and feed markets. From a sharp soybean basis rally to fast-moving harvest conditions and shifting cash dynamics, the team breaks down what’s driving the green screens—and what to watch in the weeks ahead.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025

Host Cody Koster and Jon Spainhour take a deep dive into this week's GDT report.--Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2025, confidential and proprietary.