Chicago Board of Trade (CBOT) grains futures closed higher on Monday as short covering pushed up the wheat and corn prices sharply.

The most active corn contract for December delivery rose 6.75 cents, or 1.96 percent, to 3.5125 dollars per bushel. December wheat delivery climbed 10.75 cents, or 2.52 percent, to 4.3675 dollars per bushel. November soybeans went up 2 cents,or 0.20 percent, to 9.8075 dollars per bushel.

Analysts with AgResource Company said today's rally was mostly a function of fund short covering. Funds through last Tuesday expanded their net short positions modestly, but they've been further expanded since.

The general expectation is that U.S. corn harvest will reach 50-55 percent complete, while soybean harvest will surpass 80 percent finished in the next two weeks. The rainfalls during the weekend might slow corn and soybean harvests in parts of the Midwest, but they will not pose major problems.