June 16, 2019

Corn Stole The Market Spotlight This Week

Top Story  |   |  By: Know Your Market

The spot product market on Friday was a very active one. Cheddar barrels were the most active, trading 12 loads and moving a quarter cent higher to $1.605, barrels in total traded 28 times this week and 5.75 cents higher on the average sales price compared to last week. Butter moved 10 loads on Friday and 2.75 cents lower to $2.365 per pound. Butter had 47 loads this week at an average price of $2.39 per pound. Blocks lost 1.75 cents Friday with 6 trades taking place. Grade A nonfat dry milk fell a quarter cent to $1.0525 while dry whey was unchanged at 36.25 cents per pound.  

Class III milk markets were modestly lower. June ended unchanged at $16.31 while the 2nd half ranged from a penny higher to 6 lower. The Class IV markets ranged from even to 4 cents softer. 

The excitement in all of the markets once again revolved around corn. Corn traded 11 cents higher in July, 10.25 cents in September and 7.75 cents higher in December. December new crop ended the week at $4.635. Soybeans grew 8 cents in Chicago, 8 in Kansas City, but fell 3 in Minneapolis.