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Milk Futures Blast Past $19 in Chicago Wednesday


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.


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