Grain Markets Rally

Des Moines Register:

Corn acts like it wants to end 2012 on a high note, with a 14 cents per bushel gain to $6.33 for the March contract. Soybeans rallied as well, gaining 33 cents per bushel to $12.06.
The story was the same, concern about drought and hot weather as Brazilian and Argentinian corn reaches pollination.
“March corn gapped higher this morning and traded to its highest level since November 17th as traders grew concerned over the crop conditions in South America,” The board said in post trading commentary.
“Rainfall in Brazil and Argentina came in below forecasts over the weekend, and it is expected to stay hot and dry over the next 10 days. This has caused some forecasters to reduce their crop estimates. There were also reports that some of the early-planted crop is approaching pollination.”

We'll see what happens down the road.