Dairy markets continue to dissapoint this week as the CME Dairy Spot Call continues to see offers with a lack of bids. Barrels were unchanged at $1.5150 with 24 lots traded while Blocks saw no love, remaining the constant at $1.6125. Dry Whey dropped one and a half pennies down to $0.3125. May Class III gave up some more ground, losing 6 cents to $16.40.
Butter slipped 3.5 cents to $2.3950 while Nonfat Dry Milk tumbled $1.750 down to $1.1800. May Class IV stayed level at $17.99.
China cancelled more grain imports causing a flurry of selloffs in the grain markets today. May Corn decreased 14 cents down to $6.4225. May Soybeans followed the pack, down 17 cents to $14.5175. May Soybean Meal missed out on over $9, settling out at $416/ton. July Wheat’s run up lost traction today, crashing down over ten cents to $6.4350. Crude Oil picked up some steam, gaining over 50 cents taking it to $73.71/barrel.
