January 3, 2019

Positive Prices Shown Early In 2019

 |  By: Know Your Market

Commodity prices across the board were primarily higher on Thursday. 


Grain prices saw a bid in corn and wheat as they charged up. Corn ended near the highs as it settled at $3.79 and three-quarter cents for March and $4.01 for December 2019. Soybeans were six cents higher throughout the 2019 contract months and meal prices added $1.75 per ton. The wheat complex was led by Kansas City and Minneapolis as they jumped 11 cents. Chicago wheat followed closely behind as it was up seven cents. 


CME spot product markets on Thursday had butter three and a quarter cent higher to $2.25 per lb. Both blocks and barrels were unchanged at $1.41 and three-quarter cents and $1.30 and a quarter cent, respectively. Grade A nonfat dry milk continued its march higher adding another one and a half cents to 96 and a half. Dry whey traded a penny higher to 49 cents per lb. 


Class III milk ranged from three cents lower to seven cents higher in 2019. Class IV milk harnessed the strength seen in butter and nonfat dry milk, pushing 14-23 cents higher in January-October 2019.


Crude prices traded up 50 cents and diesel markets added three to four cents per gallon. Cattle was the low market to see red on the screen, losing 30 cents per cwt. on live cattle and $1.50 per cwt. on feeders.