Money
March 4, 2019

Grain Markets Break Free

 |  By: Know Your Market

The CME spot product trade had a mixed day on Monday. Butter lead the group with a 5 ¼ cent move higher to end the day at $2.34/lb. Cheddar Blocks however, fell 4 cents to $1.57/lb while cheddar barrels moved 2 cents higher to $1.43/lb. 

Grade A Non-Fat Dry Milk was up ¼ of a cent to finish at $0.98 ¾ cent per lb. Dry Whey fell ¾ of a cent to $0.35 ¼ / lb. 

Class III milk was weaker in the nearby months. Trading down 7 cents in March to $15.13 /cwt and down 13 cents in April to finish at $15 even. Second half was mostly unchanged. July- December averaging $16.18 / cwt

Class IV milk traded 5 cents higher for April finishing the day at $16.10 and May was up 6 cents to $16.30/cwt.

Corn and soybean markets were up Monday, finally breaking free of the falling wheat market.  Soybeans were up as many as 12 cents during Monday’s trade, but finished up 4 cents to 9.03 ¼ and May SBM finished up $3.10 to $310.50/ton. Corn was up 1 cent in March to 3.65 even.

 

For Commodity Risk Management Group, this is Jenny Wackershauser on Know your markets. 

This block is broken or missing. You may be missing content or you might need to enable the original module.