On the Chicago Mercantile Exchange a mixed day in the dairy markets slowed down the class III rally, but Class IV perked up. Class IV milk held unchanged in Aug at 15.55, but September jumped 29 to 15.92 and October up 13 to 16.01/cwt. Class III milk slid 3 cents in Aug to 16.14, September down 4 to 17.24, and October slid 11 cents to 17.50/cwt.
Wednesday saw a more mixed trade on the CME spot trade. Dry whey down $0.02 at $0.52. One sale was made at that price. Blocks up $0.0425 at $1.78. Four trades were made from $1.7550 to $1.78. Barrels down $0.0175 at $1.41. Butter up $0.01 at $1.68. Nonfat dry milk up $0.0025 at $1.2575. Two sales were made at that price.
The Feed and Grain markets continue to stagnate ahead of Thursday’s USDA Supply and Demand report. Corn gained 6 cents to 5.59 ¼, November Soybeans gained 3 ¼ to 13.40 even, and soybean meal fell $3.60 to $353.90/ton
