Spot session results:
Block cheese: $1.6475 (up 0.25 cent)
Barrel cheese $1.55 (up 0.75 cent)
Grade A NFDM: $1.52 (unchanged)
Butter: $1.555 (unchanged)
In the grain complex, the overall consensus going into Friday’s USDA report is for stocks to remain stable due to increasing feed demand alongside decreased export demand. Long liquidation, however, appears to be taking no prisoners going into the report. Soybeans failed to overtake $15 per bushel yesterday and should continue to be under pressure due to better chances for rain in Argentina over the upcoming weekend and continued beneficial weather in Brazil.
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