May corn ended up 40 ½ cents above the previous week’s close. July finished 18 higher to $6.25 ½ and the rest of the grains followed suit. Beans were through the roof on the open, but reeled in some of the early gains with some intra-day profit taking and some burnout after the sharp rise. The bean market continues its steady long term rise, and continues to build momentum. Beans finished up 13 ¼ in July at $14.93 ½.
We look for corn to open mixed and for beans to open 7 to 11 lower.
Daily CME spot market prices:
Block cheese: $1.5350 (up 0.75 cent)
Barrel cheese $1.435 (up 1.5 cent)
Butter: $1.36 (unchanged)
Grade A NFDM: $1.1475 (down 1 cent)
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