On the Chicago Mercantile Exchange, Milk futures continued their pendulum swing Monday back mostly lower with a large sell off in cash butter. Class III milk futures saw much less volatility than what we have been accustomed to lately. November milk gained 14 cents to $23.17. December milk lost 7 to $16.09. January through December 2021 settled 6 cents lower to 14 cents higher. Class IV milk futures also saw very little movement.
In the CME Cash Dairy Product Trade, Blocks up $0.0150 at $1.66. One trade was made at that price. Barrels down $0.0225 at $1.40. Seven trades were made ranging from $1.40 to $1.4225. Butter down $0.0275 at $1.3175. Twenty-six trades were made ranging from $1.3050 to $1.34. Nonfat dry milk up $0.0025 at $1.0825. One trade was made at that price. Dry whey unchanged at $0.4375.
The grain complex saw both December 20 corn and January 21 soybeans put in contract highs. December corn climbed 5.50 cents to $4.2575 cents. January soybeans increased 6 to $11.7575/bushel. December soybean meal fell 90 cents to $394.90/ton. December Chicago Wheat added 2.50 cents to $5.9775/bushel.
