On the Chicago Mercantile Exchange milk futures maintained midweek strength Thursday with cash trade mostly supportive. Class III futures trended higher once again. April gained 7 cents to $17.62/cwt. May milk surged 24 cents to $19.42/cwt. June exploded 34 cents higher to $19.61/cwt. July jumped 22 cents to $19.42/cwt. Class IV futures settled 10-25 cents higher in second half 2021, ranging from $16.70-$17.25/cwt.
Butter regained yesterday’s losses and more in the CME Cash Dairy Product Trade,up $0.03 at $1.8425. Eight trades were made ranging from $1.8250 to $1.8475. Blocks up $0.0075 at $1.8075. Barrels up $0.0050 at $1.5850. Nonfat dry milk up $0.0125 at $1.2050. Three trades were made at $1.2050 and $1.2075. Dry whey down $0.02 $0.64. One sale was made at that price.
Corn led the pace higher in the grain markets ahead of tomorrow’s WASDE report. May corn launched a gain of 19.25 cents to $5.7975/bushel. May soybeans moved 6.50 cents higher to $14.1525/bushel. May soybean meal receded $2.30 to $406.80/ton. May Chicago Wheat finished 12.50 cents higher to $6.2875/bushel.
