Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 Dryness in Brazil2:29 Cheap Russian Wheat5:26 Ethanol Production Update6:52 Soybean Crush Update8:29 More ADM ProblemsKey Brazilian ?? corn-growing regions, particularly in southern Mato Grosso and Mato Grosso do Sul, are facing substantial moisture deficits due to limited rainfall since February 1st. While some relief is forecasted, additional rains will be crucial during April and May to mitigate the deficits. See maps below for detailed regional insights. ?️☔Meanwhile, a surplus of Russian ?? wheat has flooded the global market, driving down prices significantly. Russia's record wheat exports, expected to reach 51 million tons this season, have led to the lowest prices for Russian wheat exports since August 2020. Consequently, US ?? and European ?? wheat prices have plummeted to their lowest levels in three and a half years, with global prices likely to remain under pressure due to sizable crops in the US and Russia. ??In the US, ethanol production declined last week, with weekly output down 3.1% compared to the previous week and 1.4% lower than the same week last year. However, ethanol stocks remained relatively stable, with implied gasoline demand showing a marginal increase compared to the previous week. ⛽?On Friday, NOPA will release February crush data, with traders estimating a crush of 178.06 million bushels of soybeans, marking a slight decrease from January but a notable increase from February 2023. Additionally, soybean oil stocks are forecasted to be at their highest since June, reflecting a 5.6% increase from January but a 12.1% decrease from February 2023. ??Amid challenges in its nutrition segment, ADM is working to rebuild, following an internal investigation into accounting practices that caused shares to plummet. Despite spending billions to expand its nutrition sector, ADM saw a 36% decline in operating profit in 2023. While the company is taking aggressive steps to repair the sector, investor confidence remains uncertain. ??Stay tuned for updates on weather patterns, global market dynamics, and corporate strategies as these factors continue to shape agricultural and economic landscapes worldwide. ???