On the Chicago Mercantile Exchange milk futures opened the week in lower trade pressured by declining cheese trade. May milk fell 4 cents to $18.84/cwt. June plummeted 42 cents to $18.94. July lost 25 cents to $19.39/cwt. Class IV months were down with the weakness in spot butter.
On the CME Spot Dairy Auction blocks down $0.0425 at $1.6825. Four trades were made at that price. Barrels down $0.03 at $1.70. Two trades were made at that price. Butter down $0.0525 at $1.8225. Eight sales were made from $1.8225 to $1.8425. Dry whey unchanged at $0.64. Nonfat dry milk up $0.0050 at $1.3050.
December corn was down 5.50 cents to $5.3725/bushel. November soybeans fell 3.75 cents to $13.97/bushel. July soybean meal declined $3.60 to $414.90/ton. September Chicago Wheat lost 7 cents to $6.9950/bushel.
