On the Chicago Mercantile Exchange milk futures were in a narrowly mixed range Wednesday as cash trade provided little direction and grain markets took a dive from Hurricane Ida concerns. Class III milk futures were mixed. September milk dropped 4 cents to $16.71/cwt. October was up just 1 to $16.91/cwt. Class III 2022 milk saw some mild downward movement. Class IV milk saw up front months lower while further out months finished in the green.
On CME Cash Dairy Product Trade dry whey down $0.0125 at $0.4850. Two sales were made at that price. Blocks unchanged at $1.71. Barrels unchanged at $1.38. Butter unchanged at $1.7650. Nonfat dry milk up $0.0125 at $1.3325. Three trades were made from $1.3275 to $1.3325.
Grains were lower across the board once again. December corn declined 11.50 cents to $5.2275/bushel. November soybeans eased 14.75 cents to $12.7775/bushel. September soybean meal fell $2.70 to $343.70/ton. September Chicago Wheat settled 5.75 cents lower to $7.01/bushel.
