On the Chicago Mercantile Exchange Milk futures closed higher again Wednesday supported by strong cheese trade and weather concerns in the grain market. November Class III milk made its high for the year today, touching at $18.86 as the high for the day, but settling at $18.78, up 33 cents. October gained 11 to $18.71, and December gained 15 cents to $17.90 per cwt. 2020 markets saw January – March gain 9-11 cents and average at $16.86 per cwt. Class IV milk again followed butter lower. October fell 2 cents to $16.40, November fell 7 to $16.48 and December was unchanged at $16.56. 2020 markets showed slight gains. January gained 1 cent to $16.73 and February was up 4 to $16.92.
Dry whey down $0.0075 at $0.31. Fifteen trades were made ranging from $0.31 to $0.3150. Blocks up $0.0650 at $2.08. One trade was made at that price. Barrels up $0.0575 at $1.9350. Three trades were made ranging from $1.9275 to $1.9350. Butter down $0.0450 at $2.0575. One trade was made at that price. Nonfat dry milk up $0.0125 at $1.1625. Three trades were made at $1.16 and $1.1625.
A mixed day in grains. December corn down 1 ½ to $3.94 ¼, November soybeans up 3 ¼ to 9.23 ¾, and October soybean meal gained $3.10 to $305.40 per ton.
