The grains got an early Christmas present from the markets this week, AgweekTV's Michelle Rook said.

Corn got up over $6 and soybeans made it over $13.

"It was impressive to see the performance this week," said Randy Martinson of Martinson Ag Risk Management.

He explained that the jump in the markets largely centered around dry conditions in parts of Brazil and Argentina. Plus, while exports are OK, domestic demand for the crops for crush and for ethanol has been strong.

"It was a really good performance in the market in a timeframe when we usually see things get a little quiet," Martinson said.

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Soybean meal retained strong cash demand, which continues to be in part because of a lysine shortage and in part because of Argentina's weather conditions.

Rook pointed out that there was light trading volume given the holiday week. But Martinson said if the weather forecast holds out for South America, he could see corn going into the $6.15 to $6.25 area, while if soybeans get over $13.45, he could see them making it to $13.85.

"We've got some room to move yet," he said, though he added a qualifier. "Weather markets are pretty fickle."

Wheat, Rook said, was "no slouch either." Kansas City, Chicago and Minneapolis all were up. Weather was a big driver there, especially drought concerns as well as recent wind storm damage. Worldwide supplies remain tight, and there are rumors of export quotas in Russia and Ukraine.

The U.S. Department of Agriculture released a Cattle on Feed report on Friday that Rook said was a "wash": Nothing really unexpected or damaging was in the report. Martinson said the report likely will be forgettable and cattle should stay strong.

"Cattle have been performing well," he said. No apparent new shutdowns that could ding supply was part of it, he said. "I think that really helped."

The USDA also released a Hogs and Pigs report that was decidedly friendly.

"We're kind of getting used to friendly Hogs and Pigs reports," Martinson said, but he said the report on Friday "cuts a little deeper than what we anticipated."

The strong indications of tight supply hopefully will help offer some stability to the hog market, he said.

To watch previous episodes of the Agweek Market Wrap, click here.