Green lit up the commodity markets on Wednesday. Grains and milk saw a small move higher, though our CME spot trade was mixed. Butter gave back 2 cents after gaining 17 ¼ cents throughout the last week and a half. Seven loads of butter traded hands to finish at $1.51 1/2/lb. Cheddar Blocks gained a quarter cent to $1.64 ½ and Barrels were unchanged at $1.42/lb.
Grade A Non Fat Dry milk fell 1 ¼ cents to $1.13 3/4/lb. Dry whey held unchanged with no loads trading at $0.46 1/2/lb.
Class III milk had a mixed trading day but finished with December down 3 cents to $15.52, Jan gained 4 cents to $16.10, and February gained 17 cents to $16.91/cwt. First half of 2021 averages at $16.83/cwt.
Class IV milk followed butter. December held unchanged at $13.57, but January fell 8 cents to $14.23, and Feb fell 13 to $14.58/cwt.
The grain complex gained value as traders set up positions ahead of Thursday’s Supply and Demand Report. Corn gained 5 to $4.22 even, Soybeans gained 12 ¾ cents to $11.58 ½, and soybean meal gained $2.70 to 384.40/ton.
