corn
August 15, 2018

Grain Markets Move Lower, Dairy Products Remain Steady

 |  By: Know Your Market

CME spot product markets on Wednesday closed with little change outside of the butter market. Butter fell 3 ¾ cents to $2. 35 per pound despite no trades. Butter did have one uncovered bid and six offers. Cheddar blocks and barrels each gained a half cent. Blocks settled at $1. 66 per pound. Following one trade in two bids. barrels finished the day at $1.675, six loads moved along with two uncover bids. Grade A nonfat dry milk and dry whey were both unchanged on Wednesday. Dry milk traded 6 loads while finding 5 bids and 1 offer to close at 82 cents per pound. Dry whey ended at 44.5 cents. 

Class III milk futures were lower on Wednesday. August lost 2 cents and closed at $15. September through December were down 7 to 15 cents per cwt. January through July 2019 prices fell 1 to 7 cents per cwt. Class IV milk had weakness as well. As September through December 2018 prices were down 2 to 9 cents. No changes were seen in 2019 for Class IV. 

Grain markets had read on the screen across the board. Corn declined a penny to $4.03 per bushel and the December contract. Soybeans dropped 10 ¾ cents to $8.69 per bushel while soybean meal was $6 per ton lower. The wheat complex had Chicago and KC down 9.5 cents while Minneapolis fell 12 cents. 

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