Barrel cheese: $1.9600 (down 0.75¢)
Grade A NFDM: $1.8250 (unchanged)
Butter: $2.1850 (unchanged)
• Class III, Cheese & Dry Whey to open firm
• NFDM to openmixed
• Class IV & Butter to open steady
A swath of red was cut through the grain markets to open the week, as strong export inspection numbers and a decent soybean crush number did nothing to thwart the bears. There’s nothing bullish about this corn market at the moment, as near ideal growing conditions, long funds selling and fallout from the Chinese announcements that they will cease issuing import permits for U.S. DDGs all continue to add pressure to this slumping market. July corn lost 6¢ to settle at $4.41/bushel, and December shed 5.5¢ to settle at $4.42/bushel.
The soybean market took heat yesterday, with the July contract shedding 4¢ and closing just above its 100-day moving average at $14.13/bushel.
• Grains to open soft
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