Most grain prices on the Chicago Mercantile Exchange rose on Thursday December 26. The January soybean futures contract jumped by 12.75 cents per bushel, settling at $9.88 per bu, while March wheat increased by 6.25 cents per bu to $5.41 per bu.
Meanwhile, January soybean meal surged by $12.80 per short ton to $305.70 per ton, and March corn rose by 5.25 cents per bu to $4.53 per bu.
Attention is turning to crop development in South America, where weather forecasts for the upcoming week indicate near-normal rainfall across most of Brazil, though dryness is expected to affect the southern part of Brazil and Argentina.
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