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The Cut — July 3, 2026 — SE02E68 — Same Mash Bill, 2.4 Proof Points, and a Verdict Worth Knowing

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In this episode

R/bourbon ran 1,100 side-by-side comparisons on Larceny Barrel Proof A926 and B926 this week and produced a verdict worth knowing before one batch thins out. Both batches are on standard retail simultaneously at $69.99

Mentioned in this episode: Weller, George T. Stagg, Heaven Hill, Larceny, Wilderness Trail

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This is The Cut.

Caramel hits before the heat. Stone fruit follows right behind. It’s wheated bourbon at barrel strength — and the lower-proof batch is the one that opens up more in the glass, not less.

I’m John from Chasing the Unicorn Podcast. Here’s where we want to end up: one $69.99 bottle that teaches you something you’ll carry into every barrel-strength purchase after this, while both batches are still on the same shelf at the same price.

Here’s what makes it tricky. Larceny Barrel Proof A926 and B926 look identical — same distillery, same mash bill, same $69.99 MSRP. They’re separated by 2.4 proof points and nothing else. Most people grab whichever one’s in front of them, or assume the higher-proof batch is the stronger call. R/bourbon ran 1,100 comments worth of side-by-sides this week and found something more useful than a simple ranking.

Here’s the move. Find B926 at standard retail now through mid-July. No per-account limit. No lottery. $69.99. If A926 is already open at home, pick up B926 while both are on the shelf at the same time — this combination doesn’t come around in the same retail cycle often.

Two things worth understanding before you pour.

Wheated bourbons express proof variation more audibly than high-rye expressions, and the reason is the secondary grain. Wheat doesn’t contribute the spice-forward bitterness that rye creates at the back of the palate. Rye is already creating heat-adjacent character at higher proofs — an extra 2.4 points doesn’t add much to something that’s already assertive. Wheat is softer. That softness is precisely what proof variation touches first. The same spread that disappears in a rye-forward barrel-strength release lands clearly in a wheated one. The community found it in the glass because the mechanism is real.

What that means for B926 specifically: at 124.4 proof, the caramel and stone fruit arrive before the heat competes. Bourbon Culture called it “softer on entry, caramel arriving faster before the fruit catches up.” A926 at 126.8 holds the structure longer on the back palate — more integrated almond and vanilla for buyers with a higher-proof reference frame. Neither is the wrong call. They describe different drinking experiences with one variable changed.

B926 is the anchor bottle on today’s list. Soft caramel entry, stone fruit mid-palate, a finish that runs longer than 124 proof has any right to produce in a wheated expression. This is worth the chase. Window runs through mid-July at $69.99. Also on the list: the Ohio OHLQ George T. Stagg lottery — free entry, open through midnight July 14, $129 MSRP against a secondary floor north of $1,100, five minutes to enter, zero downside. And the $200-plus tier is quiet this week — nothing new has cleared that threshold, and we’d rather note it than pad the list. Full read on all three is in today’s Cut Daily on our website. Free.

A word of caution on the side-by-side format. The lesson is the mechanism, not the score. B926 is the more expressive starting point for most palates — but “most palates” isn’t yours until you’ve run the comparison yourself. The rule that travels: in wheated barrel-strength bourbon, lower proof doesn’t mean less, it often means different. That distinction applies to every Larceny, every Weller, every wheated barrel-strength pour you make from here. The price of being wrong on a single $69.99 bottle is low. The information you get from the comparison is worth more than either bottle individually. Buy what you’ll drink, then pay attention.

One more thing before we close — today’s full American Whiskey Industry Brief covers the Wilderness Trail Harvest Bourbon BiB side-by-side against Heaven Hill’s standard BiB. Same proof, same federal credential, two completely different fermentation philosophies, $18 to $22 apart. It’s waiting on Patreon.

That’s The Cut. Follow the show wherever you listen, so tomorrow’s brief finds you first. The full American Whiskey Industry Brief is at patreon.com/ChasingTheUnicornPodcast. I’m John Schuster. Thanks for joining me. Your unicorn is out there.


The Written Briefing

The Cut Daily

R/bourbon ran 1,100 side-by-side comparisons on Larceny Barrel Proof A926 and B926 this week and produced a verdict worth knowing before one batch thins out. Both batches are on standard retail simultaneously at $69.99 with no per-account limit — same Heaven Hill distillery, same wheated mash bill, one variable: A926 at a series-record 126.8 proof versus B926 at 124.4 proof. The community found more difference in the glass than the 2.4-point gap alone predicts. B926’s lower proof delivers caramel and stone fruit before the heat competes on the nose; A926 holds almond and vanilla integration longer on the back palate. Neither is the wrong call. They describe different drinking experiences that share every production variable except one number. If A926 is already open at home, pick up B926 while both are on shelf simultaneously — this combination doesn’t come around in the same retail cycle often. If B926 is your first Larceny Barrel Proof, it’s the more accessible entry point in the wheated barrel-strength category. Today’s episode also covers First Sip Concept 12 on barrel proof, the Ohio OHLQ George T. Stagg lottery open through midnight July 14, and what the Old Fitzgerald Decanter’s 43.4% secondary floor erosion signals about the current correction. Listen to The Cut, then read the full American Whiskey Industry Brief on Patreon for the complete analysis.

Listen to today’s episode and find us on Spotify and everywhere you listen at chasingtheunicornpodcast.com/podcast — next episode Monday morning.

The Cut Daily
The pulse of American whiskey: What moved — and why it matters.
Chasing the Unicorn Podcast Edition · A Drunken Unicorn Production
Report Date: July 3, 2026
Reporting Period: July 1, 2026 through July 3, 2026
Classification: Free Edition · Share with Attribution
Free Edition · The Cut Daily · Chasing the Unicorn Podcast · A Drunken Unicorn Production · Drunken Unicorn Productions, LLC. The Cut Daily is the free gateway brief to the American Whiskey Industry Brief. Share, quote, and repost freely with attribution. Required attribution: “The Cut Daily · July 3, 2026 · Chasing the Unicorn Podcast · A Drunken Unicorn Production.” The full AWIB is a paid subscriber edition on Patreon. Permissions and inquiries: chasingtheunicornpodcast.com.

Informational and entertainment purposes only. Nothing here is investment advice. Verify before buying, trading, or bidding. We are not liable for errors or financial losses.
What Is The Cut Daily? — The Cut Daily is the free written brief from Chasing the Unicorn. Every weekday we translate the biggest moves in American whiskey into plain English, teach one bourbon concept you can use at the shelf today, flag one bottle under $60 worth knowing about, and curate three Hunt picks across three price tiers. Knowledge-first chase. No FOMO. Just what moved and why it matters.
The full American Whiskey Industry Brief — every story, every Hunt entry, every debate, every auction — is published daily for subscribers on Patreon. If you want the full pour, not just the taste, join us at patreon.com/ChasingTheUnicornPodcast.
The Cut Daily is the free written companion to today’s American Whiskey Industry Brief.
IN TODAY’S CUT

Two identical bourbons taste completely different. Same distillery, same mash bill, same $69.99 MSRP — Larceny Barrel Proof A926 and B926 are separated by 2.4 proof points and nothing else. R/bourbon ran the side-by-side 1,100 times this week. The result tells you something about your own palate you probably didn’t expect.

The biggest bourbon story in today’s window isn’t a new release or a corporate announcement — it’s a community experiment that just finished running. Heaven Hill’s Larceny Barrel Proof A926 and B926 are simultaneously on retail shelves for the first time in the expression’s history, giving bourbon drinkers a naturally controlled comparison that most side-by-sides cost secondary-market money to set up. R/bourbon’s comparison thread crossed 1,100 comments this week with a verdict that reframes how wheated barrel-strength proof variation reads in the glass. Today’s edition covers that verdict, the Ohio OHLQ George T. Stagg lottery still open through July 14, a First Sip on what barrel proof actually means and how to use it, and what the Old Fitzgerald Spring 2026 Decanter’s floor erosion tells us about the current secondary correction.

THE BIG MOVE
The r/bourbon Larceny Barrel Proof Verdict Is In — Same Distillery, Same Mash Bill, Same $69.99, and 2.4 Proof Points That Made More Difference Than Anyone Expected
Event Date: July 2–3, 2026 (r/bourbon thread active; both batches on standard retail through mid-July)

Heaven Hill’s Larceny Barrel Proof A926 and B926 are on the same retail shelf at the same $69.99 price for the first time in the expression’s history. A926 came in at 126.8 proof — a series record. B926 cleared into distribution this week at 124.4 proof. Same mash bill. Same distillery. Same price. One variable: 2.4 proof points.

R/bourbon ran the experiment for us. The comparison thread crossed 1,100 comments and landed on a verdict more layered than a simple “one is better” answer.

Two camps emerged. The B926 camp found the lower proof more expressive on the nose — caramel and stone fruit arriving earlier in the aromatic sequence, with less heat on the front end competing with the wheat-forward character. Bourbon Culture’s side-by-side described B926 as “softer on entry, caramel arriving faster before the fruit catches up.” The A926 camp countered with a longer finish and more integrated wood complexity on the back palate — almond and vanilla that B926 doesn’t fully reach.

The mechanism behind the split matters. Wheated bourbons express proof variation more audibly than high-rye expressions. Wheat as a secondary grain creates less competing heat-driven bitterness, which means a 2.4-point spread in this mash bill family produces a perceptible difference that the same gap in a rye-forward barrel-strength release might not. The community identified this correctly, and it transfers to every future barrel-strength purchase you make in any wheated expression.

Heaven Hill doesn’t target a specific proof for each batch. The variation reflects which barrels hit the palate committee’s selection threshold in a given six-month window. The result is a controlled experiment no release engineer could have designed: same everything, one measurable variable, and a real answer about where the heat-to-aromatic trade-off lands for your palate.

Both batches are on standard distribution through mid-July at $69.99 with no per-account limits. If you have A926 open, pick up B926 for the side-by-side while both are simultaneously available. If B926 is your first Larceny Barrel Proof, the 124.4 proof is the more accessible starting point in the wheated barrel-strength category.

What It Means For Your Shelf — Both batches are at your retailer through mid-July at $69.99 with no limit per account. Pick up B926 if A926 is already open — this is the most naturally controlled $69.99 side-by-side in current American whiskey. If one lands better on your palate, that’s information you’ll use on every barrel-strength purchase after this.
From today’s AWIB Opening Pour. This is one of four lead stories in today’s AWIB Opening Pour. The other three: Four Roses LESB 2026 pre-allocation closes July 5 — Brent Elliott’s recipe confirmed as OESO, OBSO, OESQ, and OBSK at 108.2 proof with 48 hours left to commit; Old Forester Birthday Bourbon 2026 COLA cleared July 1 at 100 proof and an 11-year minimum, putting September retail arrival on schedule; Wilderness Trail Harvest Bourbon BiB 2026 at retail now at $49.99, the sweet-mash Bottled-in-Bond from DSP-KY-109 that’s unusually transparent for its price tier. Read all four lead stories on Patreon →
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FIRST SIP
Barrel Proof / Cask Strength
Paired with today’s: Today’s r/bourbon Larceny Barrel Proof A926-versus-B926 debate is a live demonstration of exactly what barrel proof means and why it matters — the entire 1,100-comment thread turns on what 2.4 proof points does (and doesn’t do) in a wheated barrel-strength expression.

Most bourbon gets cut with water before bottling. The distillery pulls whiskey from the barrel — wherever it landed in proof, which could be 115, 125, or 135 — and adds water to bring it down to a consistent, marketable bottle proof. Barrel proof, also called cask strength, means they skipped that step. What came out of the barrel goes directly into the bottle.

The appeal is transparency. You’re tasting exactly what aged in that specific barrel, with no dilution to smooth or hide anything. The trade-off is intensity — barrel-proof bourbon typically runs 120 to 140 proof, which is a lot for the palate to manage on the first sip.

Here’s what today’s Larceny thread is actually demonstrating: 2.4 proof points — from 124.4 to 126.8 — produced a measurable difference in how the bourbon presents itself. B926’s slightly lower proof gave the wheat-forward aromatic character more room to open on the nose before the heat arrives. A926’s extra proof held the structure together longer on the back palate. Neither is better. But the difference is real and it’s perceptible — which is the whole point of barrel-proof bottling.

Here’s what every experienced drinker eventually figures out: water is a tool, not a concession. Three to five drops opens aromatic compounds that high alcohol locks down. You’re not weakening a barrel-proof pour — you’re tuning it to a different frequency.

What this changes: Try your next barrel-proof bottle three ways — neat, three drops of water, ten drops. The bottle will tell you which version it wants to be.

The Perfect Pour app — launches July 4. For the full deep-dive on barrel proof and cask strength — the chemistry of why water opens certain aroma compounds, the history of why distilleries started bottling undiluted, and what the proof-to-flavor relationship actually looks like across the Larceny, Elijah Craig, and Wild Turkey barrel-strength lineups — get notified when the Perfect Pour app launches. Get it July 4 →
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TODAY’S ENTRY BOTTLE
Wilderness Trail Harvest Bourbon Bottled-in-Bond 2026
$49.99 Arriving at Kentucky, Indiana, and Tennessee retailers this week on standard Wilderness Trail wholesale distribution; national accounts including Seelbach’s expected mid-July. Check independent spirits retailers — this is not a chain-store staple yet, but availability is expanding with each Harvest BiB cycle.
Flavor Profile — Apricot and fresh grain on the nose with a brightness that’s unusual for a four-year Kentucky bourbon — that’s the sweet-mash fermentation signature arriving before any wood character. The palate is caramel-forward with stone fruit on the mid-palate and a clean, relatively short finish; the fruit fades to vanilla and a light grain echo rather than building into heavy oak.
Production Context — Wilderness Trail operates on a sweet-mash fermentation protocol — fresh water and fresh yeast on every run, no spent beer returned to the fermenter as pH control. Most Kentucky distilleries use sour mash, which suppresses some ester production. Sweet mash produces higher concentrations of fruit-forward aromatic compounds, which is why this four-year BiB smells more complex than its age suggests. The Bottled-in-Bond credential confirms one distillery, one distilling season, federally bonded warehouse aging, and exactly 100 proof at bottling.
Why This Matters — This is the BiB price tier’s most interesting production outlier right now. At $49.99, you’re getting a federally audited provenance guarantee plus a fermentation approach that produces measurably different new make than any sour-mash Kentucky BiB at the same price point. For a palate-development shelf, it sits between your sub-$30 standard BiB and your $70 barrel-strength expressions — and it teaches something different from both.
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THE CHASE
How to read the chase ratings
YESworth chasing
WATCHhold for now
PASSskip this one
Bottle 1 — Under $80
Larceny Barrel Proof B926
Window: Arriving at retail now through approximately July 15, 2026; no per-account limit, standard Heaven Hill distribution
Where: Independent and chain retailers nationally on standard Heaven Hill distribution; no lottery, no wait list, no distributor relationship required
MSRP: $69.99
Flavor Profile — Soft caramel entry, stone fruit on the mid-palate, vanilla-and-almond finish extending well past what 124.4 proof typically delivers from a wheated mash bill; three to five drops of water opens the apricot and stone-fruit aromatic register noticeably
YES
Rationale — Today’s Big Move is the 1,100-comment r/bourbon verdict on A926 versus B926. The community conclusion: B926 at 124.4 proof is the more expressive and accessible entry into wheated barrel-strength bourbon, with the fruit-forward character arriving earlier and with less heat competition. If A926 is already open at home, this is a $69.99 side-by-side that no secondary-market spending can replicate. If this is your first Larceny Barrel Proof, start here. The window closes mid-July.
Bottle 2 — $80 to $200
Ohio OHLQ George T. Stagg 2026 Lottery
Window: Entry open now through midnight July 14, 2026; winner notifications mid-to-late July; pickup at designated OHLQ agency stores
Where: ohlq.com/lottery — Ohio residents only, one entry per household, state ID verification required; no purchase required to enter
MSRP: $129.00
Flavor Profile — Uncut and unfiltered at barrel proof — typically 130 to 140-plus proof depending on vintage; dark chocolate, brown sugar, espresso, and dried cherry on the palate; finish extending three to four minutes with caramel and baking spice; five to ten drops of water is not optional, it’s technique
YES
Rationale — The entry is free and takes five minutes. George T. Stagg’s secondary floor tracks $1,100 to $1,250 on 30-day Bottle Spot data — the implied spread between a winning ticket at $129 and the current secondary floor runs $970 to $1,120 per bottle. Ohio has approximately 450 to 500 Stagg bottles in a typical BTAC cycle. A losing ticket costs exactly nothing. Any eligible Ohio resident should enter before midnight July 14.
Bottle 3 — $200 and up
No new $200-plus release is active in this window. The Hunt’s five current access events all price below $200. We’d rather note the quiet than pad the list with a bottle you already saw yesterday.
Today’s AWIB Hunt section covers 5 active drops, lotteries, and walk-up windows with full palate direction, rationale, and the Hunt Intelligence Note. See the full Hunt on Patreon →
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THE BAR TALK
Two Proof Points, One Mash Bill, No Right Answer — What the Larceny A926 vs. B926 Community Verdict Actually Teaches You

The debate that organized itself around Larceny Barrel Proof this week is not really about A926 versus B926. It’s about what you can learn about your own palate when someone hands you the same bourbon twice with one variable changed. Heaven Hill didn’t design this experiment — the market created it by putting both batches on shelves simultaneously — but the community ran it seriously, and the results are more useful than most formal tasting panels produce. The question isn’t which batch is better. It’s which trade-off fits your palate and when.

First Sip Moment —

The mechanism behind the community’s findings is worth understanding because it transfers beyond Larceny. Wheated bourbons express proof variation more audibly than high-rye expressions, and the reason is the secondary grain. Wheat doesn’t contribute the spice-forward bitterness that rye creates at the back of the palate. In a rye-heavy expression, the grain itself produces enough heat-adjacent character at higher proof levels that an extra 2.4 points doesn’t add much — the rye is already creating its own competition. In a wheated expression, the secondary grain is softer and quieter. That softness is precisely what’s affected when proof increases. A 2.4-point spread in a wheated barrel-strength bourbon touches the most sensitive variable in the grain profile, which is why the community found it perceptible in ways the same spread in, say, a high-rye barrel-strength expression would likely not produce.

The Math —

Larceny Barrel Proof A926 is confirmed at 126.8 proof — a series record — and $69.99 MSRP on standard distribution with no per-account limit through mid-July. B926 is confirmed at 124.4 proof at the same $69.99 MSRP on identical distribution terms. Both use an identical wheated mash bill with wheat replacing rye as the secondary grain. The 2.4 proof-point variation reflects inter-batch barrel selection, not a deliberate proof target: Heaven Hill’s palate committee selects barrels that meet the expression’s flavor threshold in a given six-month window, and the proof of the resulting blend falls where it falls. Bourbon Culture’s side-by-side described B926 as “softer on entry, caramel arriving faster before the fruit catches up” and A926 as “holding heat longer before the almond-and-vanilla character opens.” Breaking Bourbon’s early B926 assessment noted “stone fruit on the mid-palate and a vanilla-and-almond finish that extends well past what 124.4 proof typically delivers from a wheated mash.” The community’s dominant read: B926 is the more expressive and accessible starting point; A926 rewards patience and delivers more integrated wood complexity for buyers with a higher-proof reference frame. Neither conclusion disqualifies the other batch. They describe different drinking experiences that share every production variable except the one number.

What It Means For The Rest Of Us —

Pick up B926 while A926 is still open — this is the most educational $69.99 side-by-side you’ll run all year.

Today’s AWIB Bar Talk has 2 more debates with full source citations, fact-checked positions, and editorial assessment. Read the full debates on Patreon →
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SECONDARY SPOTLIGHT
Old Fitzgerald Bottled-in-Bond 11-Year Spring 2026 Decanter
Realized Price
$184
Peak Price
$325
Floor Erosion
↓ 43.4%
($325 − $184) ÷ $325 × 100 = 43.4% erosion
What Floor Erosion Means —

Floor erosion is how far a bottle’s market price has dropped from its all-time high. At 43.4%, Old Fitzgerald BiB 11-Year Spring 2026 is now selling at secondary for a little over half of what it commanded at its $325 peak in November 2022. That peak came during the pandemic-era boom when any allocated Heaven Hill BiB with a decanter format and an 11-year age statement carried a secondary premium well above its $79.99 MSRP. The current $184 realized price represents a 2.3x retail multiple — still above MSRP, but the direction matters as much as the number. Today’s Label Room confirms the Fall 2026 Old Fitzgerald Decanter just cleared TTB at 100 proof and 11 years, which means a competing allocation is arriving in roughly eight weeks. When a new vintage announcement hits, the prior-season decanter’s floor typically drifts toward the low end of its range within that same window. The spring 2026 decanter’s exit window above $180 is narrowing.

The lesson: A new vintage COLA filing is the most reliable catalyst for prior-season secondary compression — if you’re holding spring 2026 Old Fitzgerald BiB decanters, that confirmation in today’s Label Room is the signal the exit window is closing.
Today’s AWIB Secondary section grades 2 more bottles with realized prices, floor erosion math, lineage notes, and buy/hold/sell calls. Read the full secondary report on Patreon →
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ALSO IN TODAY’S AWIB
Today’s Flight: Wilderness Trail Harvest Bourbon BiB 2026 ($49.99, sweet-mash, wheated secondary grain) vs. Heaven Hill Bottled-in-Bond ($28–$32, sour-mash, rye secondary grain) — two BiB expressions at identical 100 proof and the same federal credential, separated by $18 to $22 and opposite fermentation philosophies. Full side-by-side specs, nose, palate, finish, water response, value by use case, and the editorial verdict in the AWIB.
Old Forester Birthday Bourbon 2026 cleared the TTB registry July 1 at 100 proof with an 11-year minimum age statement — putting September retail arrival on schedule at $89.99 MSRP across 47 states, no lottery, no pre-allocation. Today’s AWIB Label Room covers what the COLA timing confirms for buyers who plan fall acquisitions, why Campbell Brown’s “integration threshold” barrel-selection language matters for what the 2026 bottle will deliver, and which retailer communication in August is worth requesting now.
Heaven Hill confirmed a 15% new-make volume reduction at Bernheim Distillery effective July 1 — the first mid-year production adjustment at the facility since the 2020 COVID pause. Today’s AWIB Rickhouse Report covers how this move fits alongside MGP’s 19% NDP order-book contraction and Beam Suntory’s Clermont restart at 78% of pre-pause capacity, what a Q3 2026 reduction means for Bernheim’s value-tier BiB lineup on the 2030 to 2032 shelf, and why Conor O’Driscoll’s “stop filling inventory that takes six years to mature and then requires correction” framing is the most useful single sentence for understanding where the supply-discipline cycle actually sits right now.
Today’s Full AWIB Includes (in reading order)
Bar Talk: 3 debates · The Hunt: 5 active drops · Label Room: 5 items · The Secondary: 3 graded bottles
Rickhouse Report: 5 stories · Regional Report: 3 stories
The full AWIB walks today’s bourbon world in reader-forward order — the Opening Pour lead stories, the community Bar Talk, the side-by-side Flight comparison, every active Hunt window, the full Label Room pipeline, the Secondary market grading, and the industry-depth Rickhouse, Regional, and Research Notes coverage. Plus full source trail. Join on Patreon →
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The Perfect Pour — launches July 4.
Build your Rickhouse, log every pour in your Logbook, and learn your palate with your Pour Print — the app that turns every pour into your next discovery.
Founder’s rate: lock $99/year for life as a Bourbon Keeper (through July 3, 2027).
The Cut Daily
Report Date: July 3, 2026 · Chasing the Unicorn Podcast · A Drunken Unicorn Production
Free Edition · No Redistribution Without Permission

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