Milk futures larger, money dairy principally larger Friday

Market Information

Milk futures larger, money dairy principally larger Friday

Could Class III milk futures on the Chicago Mercantile
Trade up eight cents to $11.10.  June
a nickel larger at $12.16.  July by way of
September contracts 12 to 18 cents larger.

Dry whey up $0.0150 at $0.39.

Blocks up $0.0050 at $1.0125.

Barrels up $0.0050 at $1.0050.  Three trades have been made, with a variety of $1.0050
to $1.0150.

Butter up $0.0275 at $1.1875.

Nonfat dry milk down $0.0050 at $0.8550.  5 trades made, starting from $0.8550 to $0.86.

Soybeans fail to carry on to early positive aspects

Market Information

Soybeans fail to carry on to early positive aspects

Soybeans ended the Friday session decrease, unable to carry on to early positive aspects. Soybeans have been oversold, nevertheless it’s onerous to get any type of traction proper now. Export gross sales of simply 9 million bushels are a advertising yr low. Gross sales and shipments of soybeans are 246 million bushels behind a yr in the past. If the China phase-one summer season shopping for spree doesn’t come by, DTN quotes analysts saying U.S. soybean gross sales projections could possibly be 150 million bushels to 200 million bushels too excessive. It’s additionally bearish that the Chinese language financial system fell by 6.eight % within the first quarter.

Corn ended larger regardless of the low value of crude oil Friday. Corn futures additionally recovered from being oversold. Corn has maintained a few of its early positive aspects on hopes that the gradual reopening of the U.S. financial system might result in larger demand for gasoline and ethanol, in accordance with DTN. Corn export gross sales are transferring in the correct route, however gross sales are 22 % under a yr in the past. A mix of offered and shipped corn is at 34.7 million metric tons in comparison with 44.7 million metric tons a yr in the past now. For a minimum of the subsequent month and a half, U.S. corn is predicted to be at a value benefit to Argentine corn. Meat processing concern has merchants terrified of a back-up in provides and weaker feed demand.

Wheat futures ended Friday principally larger. Egypt is shopping for 240,000 metric tons of wheat, nevertheless it’s from France and Russia. The U.S. wheat was supplied at a $3-a-ton low cost to France, however freight prices made the French and Russian wheat extra enticing. Each the U.S. onerous purple winter wheat rising area and Russian/Black Sea climate are higher, with good moisture projected the final half April. The primary half of Could seems to be good for Ukraine and southern Russia. In the meantime an excessive amount of rain continues within the Delta and southern Midwest smooth purple wheat areas.

Tags: Cattle/Beef, Commodities, Corn, Cotton, Crops, Crude Oil, Dairy, Dow Jones Industrial Common, gold, grains & oilseeds, Hogs/Pork, Livestock, milk, Rice, soybean meal, soybean oil, Soybeans, Wheat

State test off, Ag Division ask retailers to elevate dairy buying limits

Information

State test off, Ag Division ask retailers to elevate dairy buying limits

Wisconsin’s dairy checkoff and state ag division proceed reaching out to retailers, asking them to cease limiting dairy product purchases.  Interim Ag Secretary Randy Romanski says, “Farmers are confronted with this actually troublesome selection of disposing of milk. It’s an fascinating dynamic to go to a grocery retailer and see limits being positioned on the shops.”

Romanski says his division and Dairy Farmers of Wisconsin have been working collectively to teach the general public about why some buying limits for milk, butter, and different merchandise may need been in place.  He says they’re additionally working with retailers to elevate these limits. “Between Dairy Farmers of Wisconsin and our company, we’ve reached out to retailers which have had these issues, had these limits in place, and we’ve had some success in a few of these locations lifting limits.”

Romanski says they’ve labored with the Wisconsin Grocers Affiliation and their President and CEO Brandon Scholz to induce retailers to take away limits on dairy.  Customers can even ask their native retailer managers to take away limits.

Thus far, Romanski confirms Competition, Decide ‘n Save and Goal shops throughout the nation have eliminated all limits, and that Kwik Journey and Metcalfe’s by no means had them.

Milk futures blended, money dairy principally greater Thursday

Market Information

Milk futures blended, money dairy principally greater Thursday

Could Class III milk futures on the Chicago Mercantile Trade
down 16 cents at $11.02.  June down 22 at
$12.11.  July via September contracts
three to 5 cents greater.

Dry whey up $0.02 at $0.3750.  5 trades have been made at $0.3750.

Blocks up $0.0075 at $1.0075.

Barrels down $0.0375 at $1.00.  Twelve trades made, starting from $1.00 to
$1.0350.

Butter $0.02 greater at $1.16.  4 trades have been made, with a variety of $1.15
to $1.16.

Nonfat dry milk up $0.01 at $0.86.  Seven trades made, starting from $0.8475 to
$0.86.