CBOT corn prices gained 2% supported by weather and currency factors.

Over the period under review (January 18-26), CBOT corn prices gained 1.8%. The US corn prices added USD 2/MT, while Brazilian and Argentinean wheat supply quotations strengthened by USD 3/MT and USD 2/MT (February delivery), respectively. The drought in South America, as well as depreciation of the US dollar against other world currencies remained the main bullish factors. It rained in northern regions of Argentina. However, other regions still remained without precipitation. High air temperatures and deficit of rainfalls will reduce crop potential in 2018.