On the Chicago Mercantile Exchange commodity markets were mostly stronger to start out the week. Class III milk future prices were scattered. April gained 2 cents to $16.07/cwt. May lost 10 cents to $15.21. June dropped 5 cents to $15.47. Second half 2020 is now averaging $16.11. The majority of class IV futures remained unchanged today. May lost 11 cents to $13.96/cwt. August tumbled 12 cents to $14.62/cwt. Second half 2020 is averaging $15.09/cwt.
In the CME Dairy product trade today, Dry whey was steady at $0.33. Blocks also unchanged at $1.8375. Barrels steady at $1.43. Butter down $0.0150 at $1.74. Nonfat dry milk up $0.0175 at $1.0050. Nine trades were made, ranging from $0.9850 to $1.0050.
Spot corn inched ¼ cent lower to $3.4350. Wheat and soybeans both had impressive moves higher today. May soybeans leaped 21.5 cents to $8.84/bushel. Nearby Chicago wheat jumped 23.25 cents to $5.6250. May soybean meal rallied $8.40 to $333.60/ton. Feeders and fats both saw strength, finishing limit up. April Live Cattle are at 101.65 and feeders are at 123.325/cwt.
