Corn and soybean prices closed higher, buoyed by firmer cash prices for the crops, which come as U.S. growers turn their attention from selling old crop-much of which is still in storage-to new crop planting. Farmers in the Midwest now focused on preparing land, buyers have to offer higher bids for the supplies they need, driving up futures prices in the process. Corn prices buoyed by short-covering among investors. Rainfall has slowed fieldwork in the Midwest slightly this spring, and although farmers were active in fields last week, additional rain and cool temperatures forecasted for the weekend could delay planting progress further. Analysts cautioned however that it is early in the planting season, and growers can rapidly sow crops given a stretch of favorable weather. "It's only April 17. It is expected a crop progress report due out from the government next week to show 7% to 8% of the nation's corn crop planted, down from an average of roughly 12% to 15%. Still, there's plenty of time.
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