On the Chicago Mercantile Exchange milk futures continued higher Tuesday while global trade provided little direction. Class III milk futures surged higher on the heels of barrel cheese. April milk gained 1 penny to $17.68/cwt. May milk was up 13 cents to $19.29/cwt. June milk added 22 cents to $19.32/cwt. Class IV milk settled lower with the move lower in butter and nonfat.
Moving along to the CME Cash Dairy Trade, Barrels up $0.0625 at $1.8050. Eight trades were made at $1.75 to $1.8050. Butter down $0.0725 at $1.7975. Twenty-one sales were made from $1.79 to $1.8225. Nonfat dry milk down $0.0050 at $1.23. Four trades were made at $1.2275 to $1.2350. Dry whey up $0.0275 at $0.7025. Blocks unchanged at $1.80. Two sales were made at $1.79 and $1.80.
Green was screen across the board in the grain market. May corn settled 14.50 cents higher to $6.0650/bushel. May soybeans exploded 22.25 cents to $14.72/bushel. May soybean meal was up $2.90 to $410.40/ton. May Chicago Wheat added 7.50 cents to $6.5975/bushel.
