On the Chicago Mercantile Exchange milk futures crossed $19 Wednesday as global support carried into futures and cash markets saw strong positive trade. Class III milk saw May-July blast through $19.00/cwt. April jumped a nickel to $17.50/cwt, being mostly priced already. August through December ranges from $18.00 to $18.91/cwt. Class IV saw modest gains.
Butter was the lone product to move lower in the CME Cash Dairy Product Trade, Butter down $0.0175 at $1.8325. Nine trades were made ranging from $1.6075 to $1.82. Blocks up $0.0150 at $1.80. Three sales were made ranging from $1.79 to $1.80. Barrels up $0.05 at $1.58. Four sales were made ranging from $1.5650 to $1.58. Nonfat dry milk up $0.01 at $1.1925. Two trades were made at that price. Dry whey unchanged $0.66.
Soybeans lost momentum off of the overnight session with May settling 10 cents lower to $14.0875/bushel. May corn increased 6.25 cents to $5.6050/bushel. May soybean meal settled $2.70 higher to $409.10/ton. May Chicago Wheat finished just ¾ of a penny higher to $6.1625/bushel.