On the Chicago Mercantile Exchange milk futures started the week strong supported by positive cash trade. Class III milk futures exploded higher today to start the week. April milk was up 2 to $17.66/cwt. May milk surged 36 cents to $19.36/cwt. June milk launched a 46 cent gain to $19.50/cwt. July gained 50 to $19.55/cwt. Class IV futures saw higher settlements as well.
Grade A Nonfat Milk was the biggest winner in the CME Cash Dairy Product Trade. Nonfat dry milk up $0.0375 at $1.29. Two sales were made at $1.28 and $1.29. Dry whey up $0.0250 at $0.6450. Three sales were made from $0.61 to $0.64. Blocks up $0.0075 at $1.80. Eight sales were made from $1.7775 to $1.80. Barrels down $0.01 at $1.7950. Two sales were made at $1.79 and $1.7950. Butter unchanged at $1.77.
The grain market once again set new contract highs. May and July corn finished limit up while December 21 corn gained 17.50 cents to $5.6825/bushel. May soybeans jumped 29.25 cents to $15.69/bushel. May soybean meal climbed $6.40 to $428.80/ton. May Chicago Wheat increased 29.25 cents to $7.3950/bushe
