Class III Posts Double Digit Gains
Almost all commodities closed in the green on Wednesday. The exception was the wheat complex with improving weather conditions in both Europe and the Black Sea regions. Wheat markets ranged from 6-9 cents per cwt lower.
Corn and soybeans fared a bit better after testing the lower ends of the ranges. Corn closed 2-3 cents higher after making new lows on the May contract of 3.005 per bu. This represents the lowest price that corn has experienced since 2009. Soybeans ended the day 5 cents higher after posting red early in session.
Milk markets ended double digits higher as markets rose 16-44 cents per cwt in Class III. First quarter 2021 was also slightly higher. Class IV ended mixed from 2 lower to 7 cents higher.