On the Chicago Mercantile Exchange after two days of giant moves higher, Wednesday was calmer. Class III milk fell 4 in May to 11.50, June was a penny lower at 13.62 and July fell 6 to 14.72. Class IV milk gained 2 in May to 10.17, June fell 14 to 11.01 and July fell 4 to 11.55, though Aug – December saw gains as high as 29 cents.
The CME spot product trade, however, saw nice gains. Blocks up $0.0475 at $1.3050. Four trades made, ranging from $1.29 to $1.31. Barrels unchanged at $1.24. Fourteen trades were made, with a range of $1.2350 to $1.25. Butter $0.0850 higher at $1.28. Fifteen trades made, ranging $1.26 to $1.28. Nonfat dry milk up $0.0175 at $0.8225. Four trades, ranging from $0.8050 to $0.8250. Dry whey steady at $0.40.
Grain and Feed continue to struggle to move higher. Corn fell 1 ¼ to 3.11 ¾, soybeans fell 7 ¾ to 8.30 ½, and Soybean meal fell $1.70 to 283.10/ton.
