On the Chicago Mercantile Exchange milk futures turned lower Wednesday pressured by declining cash cheese trade. Class III milk was mixed at the close. April gained 2 to 17.70, May fell 16 to 19.16, and June fell 11 cents to 19.19/cwt. The balance of the year was unchanged to 16 lower. Averaging at 18.86/cwt. Class IV milk had April and May unchanged at 15.52 and 16.09/cwt and June jumped 7 cents higher to 16.53/cwt.
CME Spot trade saw dry whey down $0.02 at $0.6825. One sale was made at that price. Blocks down $0.0050 at $1.7950. Four sales were made at $1.78 to $1.7950. Barrels unchanged at $1.8050. Butter down $0.0050 at $1.7925. Two sales were made at $1.7750 and $1.80. Nonfat dry milk up $0.01 at $1.24. One sale was made at that price.
Grain markets continued to rocket higher. Corn up 19 to 6.25 1/2, Soybeans up 25 ¼ to 1497 ¼, with Soybean meal only gaining $1.90 to 412.30/ton.