Elderly Aggie Curtis (Jane Darwell) is in financial trouble and must come up with cash or sell the horse ranch she runs with her orphaned grandson, Joel (Ted Donaldson). Hoping to save the ranch, Joel decides to train his favorite horse, a stallion named Red, to race. This proves to be no easy task, though -- while Red is speedy, he's also quite unruly. But the Curtises' wealthy neighbor, Moresby (Pierre Watkin), takes an interest in buying Red, and Joel must consider selling his animal pal.