# Declining Grain Prices Help Drive Milk Futures Higher in Chicago Tuesday | The Bullvine

> CME milk futures rose on Tuesday on firmer cash trade and lower grain prices. October Class III gained 24 cents to $16.90, and corn, soybeans and soybean meal all declined, with December corn down 8.25 cents to $5.34.25 and soybean meal down $1.90 to $343.10 per ton.

- Date: 2021-09-01 · published 2021-09-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4920-declining-grain-prices-help-drive-milk-futures-higher-in-chicago-tuesday-the
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower corn, soybean and soybean meal prices reduce feed costs for livestock buyers and reflect ample grain supplies. Stronger milk futures improve dairy margins, though the price effect is modest.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2021-09-01 | 1 | +4.7% | 8.4 | CME milk futures rose on 2021-08-31 on firmer cash dairy trade and lower grain prices (lower feed cost outlook), with October Class III up 24 cents, directly tied to the market move though smaller than the 4.69% move. |

## Sources

- thebullvine.com: https://www.thebullvine.com/news/declining-grain-prices-help-drive-milk-futures-higher-in-chicago-tuesday/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.