According to Argus, corn traders at the loading stations in the ports of Constanța/Varna/Burgas (CVB) have lowered their offers, pushing prices closer to the levels of Ukrainian-origin products from the ports of Pivdennyi/Odesa/Chornomorsk (POC).

Regarding the Ukrainian feed grain market, prices at the country's deep-water ports have closed. Trading interest has been limited but could pick up later in the week. The railway operator Ukrzaliznytsia lifted the suspension of railway deliveries to Chornomorsk.

On the other hand, the spot price of corn from Argentina strengthened on Monday on an FOB basis upstream/Necochea/Bahia Blanca. Sellers stayed away from the market due to prevailing concerns about corn production, being exposed to risk due to delayed harvesting rains and yield losses caused by corn loss.

Furthermore, corn planted areas in Argentina for 2024-2025 may decrease over the year as producers consider planting less due to ongoing crop issues, market participants said.

Regarding barley, prices for new-crop French barley could be supported by farmers' reluctance to sell due to concerns about the 2024-2025 production. Barley crop conditions have decreased significantly compared to the previous two seasons, with 67% of areas rated "good to excellent" on April 14, down 24 percentage points (pp) from last year and 20% from two years ago.

Meanwhile, corn planting pace in France has lagged behind previous years, but if weather improves, farmers could accelerate, with limited impact on production, market participants said.