Grain News

The oat market continues mostly sideways and quiet on pricing this week. Bids still work back to between $4.00 to $4.50/bu delivered plant around Sask, but buyers are not aggressively searching as they have much of their needs covered for the nearby. Some opportunities do exist for late 2023 shipping, but unfortunately those delivery windows don’t warrant a carry in value. We have one small glimmer of hope in the SE corner of Sask with a buyer looking for some coverage on heavy oats, showing some aggressive bids up to $4.70/bu picked up on farm for winter movement. If you have some heavy product in that area you’re looking to move, please give us a call, email, text, WhatsApp, fax, or carrier pigeon. We have middling interest in feed oats near $4.00/bu picked up on farm in the right areas and less in the wrong ones. So, the discount from milling to feed is a short fall, if one at all, for those with borderline product that don’t want to face dockage and discounts in the milling market.

The pea market saw very little change week over week, with green peas holding onto their premium to yellows. At the time of writing, we still have offers trading at $14.00/bu FOB farm in most areas on #2 spec green peas. There has been some talk of bleaching issues rising this year, so we encourage growers to get their product checked before marketing. On that note, we do have pricing on sample grade quality, we just need to know the percentage of bleach to get a firm bid on your farm. Ballpark numbers have bids around $11.50 – 12.50/bu FOB farm for sample grade greens. Yellow peas remain at $12.50 – 13.00/bu FOB farm this week with no change in demand. Maple peas stayed strong at $14.00-15.00/bu FOB, depending on the variety. Calls have begun on seed inquires, we will have a supply of certified seed in a few varieties, so, if you are looking to update your seed or get into a new variety speak with your merchant.

Barley markets push their way along without much change from previous weeks. Buyers are still purchasing feed barley anywhere from $7.50/bu up to $9.00/bu FOB farm the closer you get to feedlot alley. Although there has been speculation that these values are likely set to soften due to train units being delivered into Lethbridge and feed being sourced from other commodities, we have yet to see these theories ring true. Despite strong feed values, logistics continue to be a hurdle with most bids quoted for new year shipping. This makes sense as many producers took advantage of high-priced markets earlier for cash flow and bin space, which still needs to move by the end of the year. Pile on record high freight rates and a general lack of truck availability and we can see why shipping is being pushed out. Maltsters remain rather skittish this week and we suspect all their buying is currently hand to mouth based on sample approval before purchasing. The feed world is making malt purchases slightly tricky as current values are likely not sustainable in the malt world, forcing buyers to avoid long positions. There is still a market out there however, so, if you have had your malt graded, we highly suggest calling in with your specs and let us do the leg work for you. We have said it before, but it really is worth saying again: these values into the feed market are something you should be selling a percent of your stock into!

The wheat world remains a tough market to read with futures jumping around daily, but there are some values being offered for $12.50/bu range delivered to various locations on #1/#2, 13.5% protein product. However, given the daily fluctuations, quoted values do not seem afraid to drop by $0.50/bu from the morning to the afternoon. Due to this instability throughout the market, we highly suggest placing a firm target out there so your product doesn’t get missed in a quick market blip. Generally, delivery windows are starting to get pushed out into the new year, Jan – Feb type shipping, but we still see the odd opportunity for some quicker movement. We suspect news from overseas of Russia pulling out of a grain deal with the Ukraine to export wheat is playing a roll into the daily futures swings that we are seeing. On the feed side of things, indicated values aren’t far off milling bids with product trading at the $11.50 to $12.00/bu FOB farm range depending on timeframe on location. This may be an avenue to consider for those with borderline specs or those who just want to avoid added hassle at the end of the day with dockage and/or potential discounts. Switching over to durum; buyers aren’t showing very aggressive demand, but one can likely still target that $13.50/bu picked up range for a #2 or better grade. This avenue is also one worth considering getting something locked in. Many buyers out there are starting to speculate on getting new crop purchases in the books for 2023 as well, so if this interest you give us a call to get some firm numbers your way!

Sask Ag reports chickpea quality for 2022 as slightly better than average with majority of the crop grading above #2 on 125,000MT of a total 135,000MT of production. While markets have slowly creeped up over the last several weeks, this week we saw more of a jump. Buyers are looking to purchase #2 Kabuli’s FOB farm at $0.55/lb for Dec-Jan movement. This has been a trigger point for growers and contracts are being written. There seems to be room for some volume so if you are thinking of hitting this target, give us a call. Sample and feed chickpeas are still a desired commodity valued at up to $0.35/lb FOB farm depending on downgrading factors. No news yet on new crop bids in Canada, but India has increased their Minimum Support Payment by 2% to encourage more chickpea acres in the coming Rabi planting season. To early to speculate numbers for new crop domestically, but we are always welcome to the conversation and setting potential targets.

The canary seed market continues to slide sideways again for another week. Buyer bids maintain around 40-41c/lb picked up on the farm with the latter for Dec/Jan movement. With no change in market value in a while, trading has quieted down on this commodity significantly. Both buyers and sellers remain content to standoff waiting for the first to flinch. When the market bounces, one way or the other, maybe we see an uptick in product moving. Until then, everyone seems to be content to sit on their hands.

Flax exports have been on the slower side so far for the 2022/2023 crop year. The CGC data shows that a majority of the shipments have gone to the US, while some containers have headed to other destinations that aren’t in the data. Canadian flax has been preferred for US destinations, but that is changing. Even with the extra freight costs, the US has been importing flax from Kazakhstan, Russia and Turkey. Canadian premium flax pricing is just not competitive enough anymore. This is a big threat for our export potential and on top of it all, flax from the Black Sea region just keeps getting cheaper for China to purchase.

The same continues for mustard this week; steady pricing and demand from buyers continues to be the story. Bookings for new crop mustard acres and seed have begun now at a steady pace. As these trades happen, we again urge you to please talk to your merchant about new crop as targets may be placed. Spot price on all varieties sit over the $1.00/lb mark FOB farm again this week. Yellow mustard is still quoted the highest, around $1.15/lb and targets trading higher. Brown and oriental not far behind in the race, both quoted at $1/lb range or greater. We deliver mustard seed to your yard! Please talk to us as we have all varieties of seed available, treated or untreated.

Lentil market pricing eases this week. Red lentils are now trading predominately at 33-34c/lb FOB farm with the odd offer being triggered at 35-35.5c/lb FOB in the right freight areas, while large green lentils hold tight trading between 52-53c/lb FOB with demand seeming to slow a touch. Due to a bit of a pullback, trades have slowed this week and earlier booked contracts are now showing up at the plant. Shipping is a head of last year and if this continues, ending stocks may end up lower than expected.  Sask Ag is estimating that this year’s quality is mostly a #2 or better, with very little in the x3 or number 3 category. If you have some lower quality lentils in the bin, give us a call as interest in this type of quality seems to be increasing at very agreeable values. With limited quantities available, it may give the farmer a leg up on pricing.  Red lentils likely remain close to where they are for the short-term until combines hit the field in Australia. Large greens remain a bit more optimistic as supply seems to be tighter and farmer selling remains slower than the reds.

Soybean futures initially fell in response to Russia’s sudden reversal on the Black Sea Grain Initiative. However, these setbacks were offset and overruled by higher global edible oil prices. Local bids are location dependent and range from $17.50-$18.00/bu FOB farm. Dry bean prices are beginning to firm up as the market passes through a period of somewhat typical seasonally normal price pressure. Dry bean harvest reports out of Nebraska state later than normal harvest and yields being under longer term averages. Aussie La Niña rains still loom over harvest quality setbacks, the impact on the faba production region is still unknown. Local bids on export quality #2 fabas have been in the range of $13.00-$13.50/bu FOB farm and feed quality values are near $9.50-10.00/bu FOB farm, location dependent.

Local demand for canola remains strong. Global edible oil prices are contributing to robust crush margins and thus local crushers are reflecting that in their bid structure. Today, January futures, at time of writing, are quoted at $894.80/MT, up $10.60/MT on the day. After factoring basis levels, local delivered plant bids range from $20.00-$20.75/bu pending location and timeframe of delivery. FOB bids are attainable for those who would prefer product picked up at the farm gate. Please call our office to discuss these options and/or put in a firm target.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

The lentil market has had a rough go over the last couple weeks as bids have dropped approximately 5 cents/lb across all types. Current bids are tough to hammer down as buyers’ needs aren’t deep at any price; its “buy a little, drop a little”. What we have today is around 37-38 cents/lb on #2 reds FOB farm, 56 cents on a #2 LGL and 54 cents on #1 small greens. The question we keep getting is: “will the prices come back?” Sure, they might, but the lower they drop the higher they have to go on the rebound, so it might be a bird in hand situation. Issues with a larger supply in Australia that is locked due to container shortages and a reported alright looking crop in India are hurdles for the market. New crop values are at 29-30 cents on #2 reds, around 35 cents on #1 small greens and maybe 38 cents on a #1 large green all with an act of God on approximately the first 10 bushels per acre.

Flax markets remain subdued with buyers showing no aggressive demand at this point. Spot bids at $37.00/bu FOB range remain sparce, while new crop values of $25.00/bu FOB with act of God are now also hit and miss. Although supplies are historically tight, analysts believe they are manageable. With new and old crop prices being historically high, we suggest growers take advantage of the opportunities available. That means signing up old crop and locking in the first 10bpa on new crop. Russia has been dominating the flax trade overseas into various markets, which means for China or Europe to have any demand from the Canadian market, prices here need to slip further. Canadian flax values are still priced well above Russian flax prices, which does not bode well for overseas sales. If it’s seed, you’re looking for, call our office today as supplies on flax seed are running tight.

Barley markets remains quiet, yet hot; an oxymoron to say the least. Although the price is a bit lower and demand is quieter for old crop feed barley than in previous weeks, bids are still rather aggressive based on the 10-year, or even 15-year average. There is a widespread number being thrown out there, but we suspect growers can still catch anywhere from $8.00 – $8.75/bu FOB farm depending on area and timeline of delivery. Corn is pushing this value lower and will likely continue to do so, but there might be some periodic price spikes should train deliveries get delayed. These opportunities are likely to be short lived and growers will have a small window to make sales, so make sure to keep in touch with the market. New crop values are bid in the range of $6.25 – $6.75/bu FOB farm, but a target slightly over those values could grab buyer interest. Malt activity is floating around for both old and new crop, so call in and show us what you have so we can track down the best value. We highly suggest avoiding getting caught in the abyss waiting for another $0.25 – $0.50/bu, while having bids drop by dollars overnight!

The oat market remains unchanged this week, unlike most other markets that are frequently finding new lows. Old crop, #2CW quality oats, continue to catch bids around $9.00/bu picked up on farm for shipment in spring/summer, while new crop bids remain at $6 – 6.50/bu picked up pending shipping window and location. Regarding new crop, some buyers are still offering a rollover option for quantity or quality loss should the coming harvest be less than ideal; not quite an act of God, but protection against cutting buyout checks. If you still have feed quality oats in your bin, contact your merchant for a picked-up on farm bid. Buyers will want to know weight of feed oats, so make sure to have that on hand when marketing.

There is lots of debate over what can happen with wheat, which has been the case for some time now, as the market morphs into this see-saw battle of prices rising and falling repeatedly. Today’s price on a 13.5 protein red spring sits around that $11.70/bu delivered into central Sask, etching ever so close to the $12/bu striking range. Feed prices continue to maintain strength around that $10.5-$11/bu range, which is catching sales this week. Switching gears to durum, the Tunisia tender that went out the other day traded at $643-$649 down roughly $50/mt from the last tender. On farm bids hover around $18.50-$19/bu range, with most growers hoping prices to pop back up to $20/bu. The next 4-6 weeks sems to be the window to sell, as durum crops will be coming in and then infiltrating the markets. This is a tight supply/demand situation so keep your eyes on the market. Flipping to new crop durum, strong bids continue to remain at $13-$13.50/bu for fall pickup on #3 or better product.

There are two major and notable markets for chickpeas; first you have the “volume buyers”: Pakistan, India, Turkey and Egypt, they move large chunks when there is a demand. Then you have the “niche buyers”: Europe, Mexico and South America which are single digit container markets with higher upside but smaller volume. Right now, Pakistan is buying chickpeas at USD$1000/MT landed Pakistan which works out to about CAD$0.38-$0.42/lb to the grower in Saskatchewan. Smaller niche markets are radio silent. Indian is planting the seed for another year of record chickpea acres. These areas are dominated by Desi’s with Kabulis being modestly increased. If this becomes actual, India imports may be very low and they could potentially start exporting, which could further hurt the North American market. Some things to keep an eye on are pet food markets and the Indian holiday Ramadan in April. Typically, there is a time to “stock up” before Ramadan and that could produce a spike in interest for North American markets. Additionally, the Gulf Foods show is next week which should shed some light on the global market.

Mustard remains strong but flat this week. After seeing a solid 3-4 weeks of stable pricing, we believe the massive rise has ended and start to notice buyers getting a little more cautious. Spot prices remain at record highs, with yellow and brown being quoted around $1.50/lb FOB (potentially higher on offer) while all varieties of oriental are quoted at $1.00/lb or better. Is this the time to lock in these values while they’re still available?  New crop contracting continues at a good pace, which again is not surprising with these price levels. New crop brown and oriental are trading in that 70-75 cent/lb range, with yellow at 75 to possibly 77 cents/lb. New crop mustard contracts include an act of God & are picked up on farm. Please call for information on all types of certified seed, treated or untreated, and delivered to your yard. We are getting very short on yellow, so please talk to us very soon on if you need some. Brown and oriental supply remains abundant.

The recent rally in soybean futures is being driven by harvest rain delays in South America along with solid domestic soybean crush demand. Delays in the Brazilian harvest increase the prospect for late season shipping opportunities for US exporters. Local bids are location dependent and range from $14.50 -$15.50/bu FOB farm. Dry bean bids remain buoyant predicated on the smaller 2021 crops in Canada and the US. Canadian bids are feeling downward pressure from recent gains in the Canadian dollar. Dry bean market needs to see an uptick in demand for these production decreases to create any upward price movement. Faba beans are currently largely driven by domestic feed pulse prices. Feed faba bids are quoted at $13/bu FOB farm and when #2 demand periodically occurs it is often near $15/bu FOB farm.

The footing seems to be holding right now on canary seed with bids at $0.45/lb picked up on the farm for Mar/Apr shipment. Chatter is pretty tame in this market compared to many others. Most growers seem content to hold out for the next price pull up and buyers seem to be content with their current fill and so the stand off continues. Supply for this year will definitely be running on fumes. Looking ahead to new crop values, buyer bids are ranging from $0.35-$36/lb with a 10bpa act of God. A petty decent starting value to pencil into the books.

This week has brought some strength to the canola market. May futures are up to $1007/MT and were even higher at points earlier in the week. This is better than last week when we were seeing $995/MT. July futures are down today and sit at $981/MT. Much of the strength this week has come from an uptick in soy and increases in crude oil. Tight stocks of canola in western Canada will keep prices high until we get closer to next years crop being available. Looking out to new crop, November futures are at $845/MT. This is another steady jump up from last week when we saw $836/MT. Local new crop bids are available around $18/bu and are definitely worth considering when developing next years marketing plan.

Sales pressure on yellow peas continues this week, while the green pea market is still missing in action. New crop yellow peas closed last week trading at $13/bu with an act of God but opened this week trading between $12.00-$12.50/bu. Now, that too has been filled and as most bids are coming in closer to $11/bu on farm today. Old crop yellow peas are still trading around the $16.00/bu range and possibly higher for summer shipment, but bids in general are getting harder to find. Green peas lagged behind all year and that trend continues. The marketplace seems to have little interest in this product at the moment with buyers’ content to trickle in limited tonnage at $13.00-$14.00/bu on farm this week. With slow overseas demand and cheaper food sources available, don’t expect a quick turnaround in the green pea market. On the other hand, yellow peas are still trading a record high levels and grower should likely take advantage of the remaining opportunities before they disappear.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

Flax prices are up slightly from last week, with some buyers showing bids at $16.50/bu FOB on brown varieties and up to $18.00/bu FOB on yellow. For the most part, bids are pushed into the new year for those values, but the odd trade is being done for Nov/Dec. Buyers have had some aggressive bids to meet export sales and with the low carry-over, 2020/21 supplies are projected to be tight again going forward. There are some unanswered questions about the size of the Russian / Kazakh crop, but for the time being, the rally in prices overseas has stalled out as the end of harvest season approaches. With these early strength in prices, we know that there is something happening in the market, but no one is reporting an actual disaster anywhere.

Stability in a market would typically be a good thing, but when talking chickpeas, we are all on the edge of our seats waiting for something to happen. News out of Argentina give initial reports of issues with the quality of the chickpea harvest. They are still a few weeks away from harvest, but this does give the ray of hope everyone is waiting for. Despite the uncertainty there is one thing that rings true, growers have waited this long and will continue to wait before moving chickpeas below their target prices. While buyers are more interested in purchasing, the bids remain the same. Jan-Feb bids for #2 Kabuli’s hit $0.30/lb FOB farm, but nearby remains $0.27-$0.28/lb FOB farm. Sample/feed bids at $0.14/lb FOB farm.

The yellow and maple pea market had a few prices bumps this week. Yellows saw bids up to $8.25/bu delivered to a couple areas within Saskatchewan, while maple peas traded at $9.00/bu picked up for movement into the new year. Green peas remain stable at $9.00/bu picked, but there is less grower interest at this price point and fewer trades being done. Right now, most of our export interest has been coming from China, which has been the major supporter in yellow pea bids. As farmers becoming more bullish, we may also see bids firm up into the new year as bin doors remain closed. As per reports, India still has not been a big player in the market, therefore, if anything changes and they start looking to import again, we can only expect the pea market to become more bullish. On the other hand, should India remain a non-player and China decides to step back, we could see values fall.

The oats market has been fairly quiet as of late as buyers have been mostly bought up in the nearby windows. We have a few buyers posting bids delivered out into Manitoba on a #2 milling oat at $3.70 to $3.80/bu into spring and summer months. If you are looking for a FOB farm price we can work that back for you, just touch base with your favorite merchant. If you have milling oats and want to move them this fall, we do have some options, but the prices likely work back to $2.60 to $2.95/bu range on farm pending location. Feed prices on the oats seem to have settled in at $2.25 to $2.50/bu range on farm but there has been the occasional opportunity to sell heavy feed oats at stronger levels. 

Canary seed continues to plant its flag and remain firmly entrenched, trading sideways again this week. That being said, most will take trading sideways at $0.30 – $0.31c/lb as a win on a commodity that historically bangs its head on the ceiling at those levels. On the export side, things have been quiet these last couple months as inventory was on the lighter side and product wasn’t off yet. Though, we may start to see export numbers creep up a bit as product is now in the bins and the price remains supported. There may be room to give on pricing moving forward, but at the same time the canary seed market can also be pretty finicky and cool down in a hurry when quotas are meet.

Planting delays in Brazil due to dry weather and labor disputes at Argentina crush plants has offered more strength to the soybean complex. US soybean harvest is well underway and could wrap up in early September if good harvest weather continues to hold. Local soybean bids now hover around $11.00-$11.50/bu picked up depending on location. Fabas bids are aligned with long term trading values at $7.50 -$8.00/bu for #2 export quality. Increased global competition and the reestablishment of typical global trade patterns will regulate our local faba bids. North American dry bean harvest is approaching completion. Common classes of beans are expecting large production increase this year, whereas specialty beans will see tighter production volumes. Dry bean demand still exists, and buyers will be interested in purchasing any new crop contract overages.  

Overall barley production and quality is a positive “glass half-full” situation this year, with most producers giving favorable reports for both. Feed barley bids are quite strong for this time of season and bids are plus/minus $5/bu FOB farm in SE AB and SW SK. Values start to drift closer to $4.50/bu FOB farm as you move east further away from feedlot alley. Malt bids are sparse and maintain a very narrow premium to feed bids, thus many producers are opting to sell feed. Casual reports indicate malt bids are near $5.00/bu delivered with small variety specific premiums.

Lentils remain solid this week as all varieties and colours either hold their value or see slight increases. Reds seem to have settled in between that 27 cent and 28 cent mark and likely won’t see much change until we hear what India is going to do with tariffs at the end of the month. Green lentils on the other hand have strengthened slightly with #2 large greens at 36 cents FOB farm for Nov/ Dec movement. Small greens also seen an uptick and are trading as high as 31 cents picked up in some cases. The Saskatchewan crop report states this year’s lentil crop yielded 1487lbs/acre compared to 1413lbs/acre last year and harvest is 100% complete compared to only 93% the year prior. The report did not say what this year’s grade breakdown was for the lentils but based on good harvest conditions and what we’ve seen so far, majority will likely be #1/#2 grade.

Wheat prices have continued to gain strength this week as some dryness in the US and Russia causes some concerns. In the Black sea, wheat prices continue to climb despite last year’s crop showing strong yield. This all comes after the USDA stayed neutral on wheat ending stocks in their latest report. Milling wheat is trading locally around the $6.75-$7/bu delivered range. On the feed side of the market, bids have gained strength and range from $5.50-$6/bushel FOB farm depending on location and movement timeframe.

November canola futures sit at $526/MT at time of writing. This is up slightly from the same time last week when they were at $525/MT. There was very little fluctuation in price over the past week, despite the USDA report coming out last Friday and dropping expected soybean acres slightly. There is a bit of carry into the January futures, which sit at $533/MT today. The next big report for Western Canada will be the StatsCan production report on December 3^rd. That will play a large role in which way this market heads moving forward.

Once again, mustard prices remain in the same range as previous weeks. We have seen slight bumps over the past month on yellow and oriental, but reports continue of very sluggish shipping and demand from overseas, so bids remain basically flat for now. Bids today are sitting at $0.40/lb FOB farm for yellow; show us offers at $0.41 as they might be looked at for shipping in the new year. Brown sits at 30 to 31 cents/lb; again the 31 cents may be available for shipping further out. Oriental Forge sits at 27 to 28 cents depending on movement and cutlass is at 25 to 26 cents for new year shipping, both FOB farm. We are now creeping up on the end of October and it may be a good time to actually start new crop contracting soon. Call your merchant with offers and the latest in prices.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

The prices for flax remain up from the usual seasonal trend with $16.00/bu FOB farm available for relatively quick movement. Yellow flax pricing is just north of $17.00/bu picked up and in light trade this week. Flax demand is expected to remain strong from China, the EU and the US and potential exports will be limited to the size of the Canadian flax crop. Earlier reports suggested that heavy rains in China had reduced their flax yields, however the majority of flax growing regions were not hit the hardest and the issue could be less serious than earlier indicated. The Black Sea region has some reports that their crop is going to be 10-15% less bountiful than last year, but far from an actual disaster. While there could be some upside to flax prices, those higher prices will likely start to discourage demand for Canadian supplies.

Chickpea bids in the last couple of weeks have strengthened for movement into the new year. Analysts question the sizing of the Canadian chickpea crop, but have little concerns about the quality. Some of the chickpea exports in the past have gone into markets that utilize lower quality, with better grades expected this year, that could also make it more difficult to export into new channels. The lower kabuli production in other countries could finally be the push that the North American crop needs to fill some of the demand. Bullish sellers will keep bids at bay even if supplies are comfortable.

This week yellow peas are getting a bit more buyer interest. Bids are being shown at $7.25 – $7.50/bu picked up on the farm with movement by the end of December. Green peas have not changed much in price from last week, with buyers still bidding at $9.00/bu picked up in the northernly areas and $8.50/bu range in the south. Western Canada has been seeing strong export pace, with more focus towards yellow peas, which is supporting the rise in current prices. Maple peas have been much slower in comparison with current pricing is at $8.25 – 9.00/bu picked up on farm. Currently, growers have slowed their selling since bin space isn’t the main topic anymore. As per reports, we can likely expect bids to become a bit more aggressive into the 2020/2021 marketing year to influence selling as farmers become more bullish.

For the most part, barley harvest is wrapped up across the Canadian prairies with the exception of a few growers just finishing up. The spread in value from feed to malt remains minimal and some growers are opting to sell their malt into feed markets for movement advantages and an available sale. Feed barley has been trading between $4.00 to $4.50/bu FOB depending on location and movement. Stronger bids are seen if you can live with shipment in the Jan-Mar 2021 period and/or the closer you are to feed lot alley in southern Alberta. As for malt barley prices, reports suggest they have been sitting around $5.00/bu delivered in on 2 row Metcalfe and Copeland varieties if you are able to find a bid. Our malt buyers remain quiet, but have indicated we may see some bids in the coming weeks.

Oat markets remain steady this week with little to no spread between milling and feed bids in many cases. Milling markets continue to be indicated at $2.50/bu FOB for a large part of Saskatchewan, with the exception of the SE corner, where we’ve seen some product bid up to $3.00/bu FOB. For comparison, feed oats, so long as they are heavy and dry, are seeing bids in the $2.50/bu range as well. We hope that the development of new markets such as the oat milk market will provide more opportunities and better values to milling quality oats, but so far that remains amiss. This year’s increased acreage and higher yields may subdue a price hike near term.

Canary continues to hold steady again this week as pricing remains firmly entrenched at $0.30 – $0.31/lb picked up on the farm with movement between Oct – Jan. If you look back on canary pricing since 2016, there is a pretty hard ceiling halting this commodities movement past $0.31/lb. Is this the year to burst that bubble? There are reports of US millet issues that have already pushed red millet past canary pricing, with white millet on the rise as well. That being said, this is a commodity that can turn on a dime as there is only so much need. Only time will tell.

Soybeans continue to rally to levels last set in 2018 based on dry conditions delaying planting in Brazil, strong exports to China and bullish expectations of Fridays (Oct 9^th) USDA report. Local soybean bids now hover around $11.00/bu picked up depending on location. Fabas bids are aligned with long term trading values at $7.50 -$8.00/bu for #2 export quality. Increased global competition and the reestablishment of typical global trade patterns will regulate our local faba bids. Dry bean harvest progress varies across the North American growing areas, but generally speaking is 75% complete.  Some classes of dry bean (navy, pinto) will have sharp production increases year over year, whereas white bean production appears to be relatively flat year over year. Dry bean demand still exists, and buyers will be interested in purchasing any new crop contract overages.  

After a slight dip earlier in the week, November canola futures bounced back and are up from last week’s prices. November futures are sitting at $525.30/MT at time of writing, compared to $520/MT at the same time last week. There is a bit of carry in the market for the January futures as they are at $531.70/MT, compared to $528/MT a week ago. The strength in the market appears to be coming from palm oil and soy oil price increases as well as a decrease in farmer selling as harvest begins to wrap up in most areas.

Lentils markets continue to strengthen this fall and now many buyers are starting to show interest in small green lentils. The most common bid for small greens is 28 cents/lb picked up on farm, but we are hearing some better delivered prices depending on location in the province. Large green lentils remain strong with prices at 35 cents per pound for on farm pickup, while red lentils remain stable at 27-28 cents. Buyers are also looking for French greens and Beluga lentils with some strong indications. All in all, lentil markets seem to be strong at this time. Keep an eye on these markets as we approach the end of the month, this is when India will revisit their tariff protocol.

Wheat markets have had 3 strong days to start the week with both CWRS and CWRW gaining strength; on Monday both wheats had hit a 5 and 8 month high. Wheat markets are on the move due to weather concerns for planting in the US, Russia and Kazakhstan. Markets are also being affected by reports the USDA is expected to cut the 20-21 wheat carryover forecast, as well as world inventories are likely to shrink. On the feed side of things price are in the $5.25-5.75 depending on location. Low protein wheat was also been trading around the $6.75-$7.00/bu delivered range.

Mustard prices remain fairly flat as buyers still report slow overseas demand at this point. There has not been enough news to shift the price greatly one way or another this week, but we are seeing a slight increase in some brown and oriental for further out movement. Bids today are sitting at $0.40/lb FOB farm for yellow; show us offers at $0.41 as they might be looked at for shipping in the new year. Brown sits at 30 to 31 cents/lb; again the 31 cents may be available for shipping further out. Oriental Forge sits at 27 to 28 cents depending on movement and cutlass is at 25 to 26 cents for new year shipping, both FOB farm. Even though October is just beginning, it may be time to actually start thinking about new crop contracting soon. Call your merchant with offers.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

As updated reports on production estimates keep rolling in, it looks like green pea supplies will be up about 12% this year and yellows down 2%. Looking overseas, the Black Sea region is also expected to have lower production numbers due to reduced yields; this should bring less export competition for the Canadian crop, causing prices to firm up a bit. Currently, green pea targets have hit at $9.00/bu picked up, but buyers are actively showing bids closer to $8.50/bu. Yellow peas are trading at $7.00 – 7.25/bu picked up and maple peas have been trading at $8.00 – 9.00/bu picked up, with the latter being shown in south east Sask. India has also seen increased pricing on their yellow peas with stocks being limited, as per reports. We will have to see if this will end up affecting India’s import tariffs or not.

Feed prices have been holding strong in the wheat/durum markets this week. We have seen bids at $5 – 5.55/bu picked up. The stronger bids are being shown in south west Sask and with movement into the new year. We still have options for October – December delivery if you are needing cash flow before years end. The milling wheat market has been a bit quiet on the trading side, with bids around $6.50/bu delivered based on higher protein levels (13.5%). There is pricing on lower protein wheat, however, moving into the feed market is almost showing better/equal pricing opportunities. Milling durum is priced around $7.50 – 7.75/bu delivered.

The malt barley market remains a dead horse this week, not coming as a surprise to most. We have very few bidders on malt quality at present and suggest growers use firm targets to capture any potential buyers’ interest. Most recent indications suggest producers target the $5.00/bu delivered to plant range on 2 row Copeland and Metcalfe varieties. Although not a slam dunk, we may catch someone in need of product, just waiting on the right offer to come along. On the feed barley side of things, markets remain strong and trading between $4.00 to $4.50/bu picked up depending on location. You can see higher prices for pushed out movement into the Jan-Mar 2021 timeframe. As is usually the case, the closer you are to feedlot alley in Southern Alberta, the better the price will be.

Another week of patiently watching chickpea markets and waiting for a swing. There was a bit of activity from the buyer’s side this week to purchase in the deferred months. Early 2021 values for #2 Kabuli’s hit $0.30/lb FOB farm, but nearby remains $0.27-$0.28/lb FOB farm. The problem with this carry is that if a grower signs up for January movement and the nearby ends up getting support, they kick themselves for selling to soon, so instead, we wait. Feed/sample values are $0.12-$0.13/lb FOB farm and the desi market remains radio silent.

Flax pricing remains strong again this week with firm bid at $15.00/bu picked up before the new year.  If you have milling quality, you could capture up to $15.50/bu FOB for a Jan/Feb type movement. Yellow flax has firmed up as well, now sitting in that $16.00/bu picked up range. These flax prices, early into harvest, reflect lower supply in the Black Sea region. The market is depending on fresh supplies and export destinations are sending clear signals with these values. However, this could prove challenging as Canadian supplies will not be able to meet all the demand coming from the major importers. The unknown is when this market will hit the price ceiling.

Canary seed harvest should be wrapping up across Saskatchewan this next little bit, as it’s estimated that there is roughly only 20% un-harvested. This should put us well ahead of the 10-year average. How is the crop fairing? Well, from reports that we are hearing, things sound promising, but the question that always plagues this commodity is the disparage in reporting. There are some that actually peg this crop to be upwards of 200,000 MT, a vast difference from roughly 159,000 MT that is floating out there right now. Either way, we continue to see pricing hold stead at 30-31c/lb FOB for movement within Oct – Jan. Price support is holding for this commodity and stems from the weaker CDN dollar, US millet crop shortfalls and possibly the confusion in expected harvest numbers.

Oats prices are sideways this week with milling bids around $2.50/bu FOB farm in most areas of the province; this doesn’t put a milling oat much better priced than a feed oat right now. If your farm is located in southeastern Sask we have had some milling bids catch $3/bu picked up on yard for fall movement. If you’re not in a hurry to move product the bids tend to get better into 2021 and you can put an extra quarter a bushel on your price waiting until spring as a viable option to lock in as well. We can see the finish line for harvest this year, but the north has been struggling with spotty rain dragging things out. Harvest pace had been wild, but it really has slowed down in the past couple weeks.

After a steady decline in canola futures to start the week, markets have rebounded in a big way today. November futures are up $8.40/MT today alone, placing them at $520.40/MT, which is up about $1 from the same time last week. Today’s big increase comes from the USDA reporting a large decline in US stocks of soybeans, corn and wheat when compared to a year ago. US soybeans stocks are down 42% compared to Sept. 1, 2019 and are sitting at 523 million bushels. This is a good chance for those that missed getting some solid futures prices locked in before last week’s slip.

Lentils continue to be the sought-after commodity this week, with the bright spot being small greens. We are starting to see them gain some strength after trailing behind so far this fall and bids are now in the 27-28 cents FOB farm range. Large green lentils remain strong as well with trades taking place at the 34-cent mark and even some firm offers triggering at 35 cents for #2 quality. Red lentils continue to trade in that 27cent range for October through December movement and the odd buyer willing to entertain 28 cents picked up for Jan-Mar shipment. In the last week buyers have also been looking for French lentils and Beluga lentils. The last Saskatchewan crop report had lentil harvest 99% complete, 11% ahead of last year. With lentil harvest wrapped up we are hearing from buyers that quality is mostly #2 or better for all categories of lentils.  If you still have poor quality lentils in the bin this maybe the time to get rid of them as the pet food market will need product at some point to fill their rations.

It looks like the mustard harvest has wrapped up well ahead of the usual average, but markets remain flat as buyers digest the outcome here in Saskatchewan and Alberta. This will certainly lead to a good quality of mustard this year, with a high percentage grading #1. There has not been really strong demand behind export business, and this is keeping the bids firm, but stuck in this trading range for now. Bids today for mustard are sitting at $0.40/lb FOB farm for yellow, $0.305/lb FOB farm on brown, Oriental Forge at $0.275/lb and cutlass at $0.255/lb FOB farm. Even though October is just beginning, it may be time to actually start thinking about new crop contracting soon. Call your merchant with offers.

Despite harvest pressure and easing Chinese demand, soybean futures are up strongly based on the recent USDA stocks report. Year or year inventories are down sharply and have spurred the market up dynamically. Local soybean bids now hover around $11.00-$11.50/bu picked up depending on location. Still good opportunities to contract new crop fabas at $7.50 -$8.00/bu for #2 export quality. Aussie faba bids are down and now aligned with long term market ranges. This will mean more competition for our fabas into Egypt and thus moderate our local bids. Some classes of dry bean (navy, pinto) have sharp production increases year over year, whereas white bean production appears to be relatively flat year over year. Dry bean demand still exists, and buyers will be interested in purchasing any new crop contract overages.  

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

Flax demand from China, the EU and US look to remain strong and with low Canadian carry-over, prices have crept up slightly this week. Trades are being done upwards of $15.00/bu picked up in the yard for milling quality brown flax, while yellow flax prices perk up to around $16.00/bu FOB. Favorable weather over the last week has allowed flax harvest to advance nicely, so we expect more product coming to the table shortly. The Black Sea region exports have fallen off due to lower supplies, meaning the market will be looking for fresh supply in other areas. Bids are reflecting the market demand, however, Canadian supplies will not be able to meet all the demand, so values are likely to remain strong with some possible upside.

The oat harvest is underway with just over 15% in the bins as of the middle of this month. Early indications suggest that the volume is still set to outpace last year by a bit but there is still the question mark on quality. The early stuff that’s off looks to be nice but the later crop that was subject to the heat with no rain could prove to be interesting. Once more numbers are gathered, we’ll see how things are really shaking out. Right now, milling quality prices are hovering around that $2.55 – $2.80/bu FOB farm with movement in the new year. If you happen to be near the SE Sask/Man boarder and product is off, call your Rayglen merchant as you may be scratching $3.00/bu FOB for quicker movement. On the feed side, prices are ranging in that $2.50 – $2.75/bu FOB farm.

The feed barley market has really been taking off this last week, but unfortunately the same cannot be said in malt barley markets. Currently we have very few bidders and/or options on malt barley contracts and suggest targets as a possible way to catch someone’s attention. Rumors suggest $5.00/bu delivered to plant is attainable on Copeland and Metcalfe varieties, but so far, we’ve been unable to corroborate them. The feed barley market has a tight trading range this past week with most bids sitting between $4.00-$4.50/bu picked up pending location. A decent carry in value is seen for deferred Jan-Mar 2021 shipment for those who can hold product into the new year. Bids increase as FOB locations move Southwest, with the highest values seen in Southern AB close to feedlot alley.

Bids have firmed up in the pea market this week since StatsCan came out with lower production estimates. Yellow peas have been trading at $7.00/bu picked up, green peas are priced at $8.90 – 9.00/bu delivered and maple peas are seeing bids at $8.00-$8.25/bu picked up. China’s continued steady buying is holding the yellow pea market up as well and helps contribute to these stronger markets. If the new StatsCan estimates are correct about production, then our yellow pea supplies will end up being a lot tighter than expected which could bring a positive affect to pricing this marketing year. As we know, green pea acres were up this year, but with lower production estimates our supplies should sit at more comfortable levels. That being said, any price increase will likely be more subdued when compared to yellow peas.

With chickpea harvest reportedly 69% complete, StatCan has once again adjusted their yields upwards to 30bu/acre. This translates to production on a whole being 5% below last year, again, rendering a large carry for 2020/2021. Despite that, there is a bit of a firmer tone as reports of smaller caliber chickpeas are being harvested; quality seeming to be decent thus far. The overseas market is putting some weight into the results of the Argentinian harvest, but this will not be reported till November. It feels like there are several different ways this market can move right now but from a grower’s perspective it needs to improve before the bins open again. Bids for a #2 Kabuli sit around $0.27-0.28/lb FOB farm and sample grade remain at $0.12/lb FOB on average.

Wheat prices have smartened up a bit here in recent weeks, with feed bids back touching $5 to $5.50/bu in most areas. Prices depend greatly on the area your farm is located and whether you want product unloaded now or in the winter (Jan-March); the latter of the two is bringing a solid carry. How solid? Well, usually the carry from fall into winter is a few bucks a tonne, but a few buyers have said they are showing up to $10/MT right now, which is pretty solid. Milling wheat prices moved up to $6.50 delivered in range on a #1 CWRS with 13.5% protein. If you have a target in mind on your wheat talk to your preferred merchant about what you are looking for and we can see what works. We have a few options on low protein #1 wheat as well at values in between feed and milling.

Canola futures have dropped off this week after seeing a big jump upwards the previous two. This appears to be coming from large sales in soybeans early in the week due to concerns of a second COVID wave putting the global economy in trouble again. That being said, prices are still strong at a time of year when they usually push yearly lows. November futures at time of writing are at $519.60/MT, down from $530/MT at the same time last week. The January futures do hold a bit of carry in them at $527/MT today, down from $536 at the same time last week.

The canary seed market continues to ride a bit of a hot hand and there is not much right now that will get in the way and bring this market down. Product has been trading between $0.30 – $0.31/lb picked up on the farm with movement pushed out till January. The feedback that we’ve been receiving is that overall product is looking good and bushels seem to be on par with a decent crop. That being said, canaryseed is a notoriously under reported and we, as well as analysts, can only make their best guess as to what’s out there. With tight carry and a decent crop, we should see this market supported in the near term.

As might be expected, soybean futures have pulled back based on harvest pressure and farmer sales to elevators and crushers. From a demand perspective, this dip in futures has spurred on further opportunistic purchases from international buyers. Local bids are in the range of $10.75-$11.00/bu picked up on farm. Dry bean harvest is in its early stages and average yields are being reported. Many dry bean prices are currently similar to what was available prior to planting; thus, the market remains well supported. New crop faba bean bids are in the range of $7.00-$7.50/bu picked up on farm for zero-tannin varieties. Tannin varieties may command a premium with early indication of $9/bu FOB farm for select tannin varieties.

Reports of tariffs coming off in India and stories of troubles with the India pigeon pea crop (likely some relation) have lentils prices continuing to climb this week. Green lentils are seeing a nice increase in price with large green lentils trading up to 32 cents FOB farm for a #2 and small greens sitting in the 26-27 cent range FOB farm. Red lentils aren’t moving up in price as quick as greens, but we are still gaining strength with #2s currently trading at 27 cents FOB farm. Rising markets are always hard to trade into as no one knows where the top is, but this makes a perfect time to push the market with targets and/or to start making incremental sales – selling into a rising market is never a bad thing!

Mustard markets continue to trend sideways. In conversations with buyers, foreign demand remains quiet and everybody seems to have a “steady as she goes” attitude so far. Many growers are now complete on their harvest and yields continue to be all over map depending on where late rains went. Everyone seems to be wondering if the lower seeded acres eventually will lead bids higher as time goes on. Bids today for mustard are sitting at $0.40/lb FOB farm for yellow, Brown @ $0.305/lb FOB farm, Oriental Forge @ $0.275/lb & Cutlass @ $0.255/lb FOB farm. While it is early, it may be time to actually start thinking about new crop contracting soon. Call your merchant with offers.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

Chickpea markets are becoming the first topic of conversation again as we get into harvest. Initial numbers out show expected yield for the 2020 production will be, on average, 27 bu/acre but concern of the size of the chickpeas has come to light. Timely weather events are believed to have affected the sizing and it is predicted there will be a smaller scale of caliber in the production. End of season frost also occurred which will likely yield some damaged production. Globally, Indian prices are the highest since 2018 which indicates they have been eating through their stocks. This does not translate to a huge jump in value, but it does support a bullish market. Prices have not moved from last week, but chatter has increased, and it is decidedly a bull market with today’s levels being a potential bottom.

The most recent StatsCan report was released showing that the large pea crop that was expected to come off is closer to 4.3 mln tonnes versus the 5 mln tonnes originally thought. Yellow pea tonnage looks to be just under last years numbers with green pea tonnage at a 25% over. As such, we are starting to see a little more firming up in the yellow pea price at $6.75/bu delivered in with green peas staying soft around that $8/bu delivered. The maple pea market continues to flatline as prices hover around that $8.25/bu delivered in with a small pocket in the south east where you may be able to pick up $8/bu FOB farm. With pea harvest winding down keep an eye out for seasonal pattern pricing to edge up. Typically, around this time to November then with a hiatus till the new year, more so on yellows right now versus greens and maples, as supply is available for those two but demand isn’t.

Flax prices are holding strong for another week with bids in the $14.00-$14.25/bu range picked up in the yard depending on movement time frame and quality. The estimated acres are larger than last year, but the little carry-over of good quality flax has kept the prices supported. Another factor surrounding pricing will be if the flax yields are affected by the late July heat and early September frost. China will be increasing their flax imports due to some damage from heavy rains so there will be some pull on Canadian supplies. Russia and Kazakhstan flax yields are still the biggest unknown. However, there seems to be limited selling pressure out of those areas which suggests lower availability.  There are opportunities for quick movement on flax so once harvested, make sure to get samples into us

Mustard markets maintain values this past week despite StatsCan’s correction upwards of 2bu/acre on production to an average of 18.2 bu/ac. The reported fewer acres seeded this year is the concern and the factor that could drive buyer bids higher. In addition, buyer demand has not waivered and ending stocks maintained averages at 60,000 MTS. Harvest progress is ahead of the average at this point and quality is not a concern. Bids today for mustard average through to March as follows: Yellow @ $0.40/lb FOB farm, Brown @ $0.305/lb FOB farm, Oriental Forge @ $0.275/lb & Cutlass @ $0.255/lb FOB farm. While it is early days, this crop is believed to be a front runner in producers minds for increased acres next year; keep this in mind for your planning!

Wheat harvest is well on its way with a recent report suggesting 83% complete which compares to similar numbers on other cereals. Yield reports have been a quite a mix across the province though, as we hear numbers from 30 – 60 bushels per acre. All in all, bids and delivery on wheat (milling and feed) have seen slightly better quotes this week: feed values now sit around $4.75 to $5.35/bu FOB farm for Oct-Dec delivery, while milling bids hover at $6.25/bu delivered plant range depending on location and movement period. We have also seen some lower protein product (12.5%) trading at very attractive levels in central SK. Please call for details on this program.

Production estimates were released for September and lentils were up even more, with StatsCan showing an increase of 36% from last year. A big jump indeed, but so far these numbers have yet to affect pricing. This week #2 large green lentils are catching buyer’s attention and we’ve been trading at 30 cents picked up on farm quite consistently. There has been a bit of questioning on where this strength is coming from and it seems that some buyers are filling a short. Therefore, once filled, we may see some prices soften a bit again. Red lentils have been holding their price at 25 cents picked up and possibly a bit higher if movement is pushed out. As per reports, India’s demand has softened, however, sales are still filling into other destinations which is supporting the market.  Small green lentils haven’t sparked as much interest in comparison, but we do have bids at 24 – 25 cents being shown.

Barley markets showing some strength this week with price moving up around 10 cents per bushel. A few buyers still have September movement available, but for the most part Oct-Dec is quoted. A small premium is seen for Jan-Mar delivery windows. Buyers are suggesting that price increase maybe short lived as once sales are covered, price will slip again. These suggestions make sense when you look at the StatCan numbers released on the September 14, showing a gain of 200,000 tonnes over last year’s ending stock and 300,000 tonnes over 18/19 ending stocks. South east and North East Saskatchewan barley is trading @ $3.75-$4.00/bu, Southwest and West central $4.00-$4.30 and Northwest $3.75-$4.00bu.

Canary seed prices continue to be very strong this week. Prices are up as high as 30 cents FOB on October to November movement now. We are starting to get yield reports on canary into the office. Average seems like a good way to describe it at this point with most reports in the 20’s bushel per acre in a lot of cases. This year’s supply will likely remain tight and support prices at this point from the looks of it. Call your merchant on movement options as we may be able to ship earlier than October to November.  

The oats market is pretty weak these days with milling bids around $2.60 to $2.75/bu picked up in many areas, but movement pushed into next summer. Feed bids are wide ranging from $2.25/bu to $2.75/bu range depending on area and quality, but the feed movement is significantly faster than milling and possibly would allow bins to free up, or bags to empty, within 3-4 weeks. Waiting on milling movement to next summer for little to no premium doesn’t make a ton of sense based on today’s values. Hopefully we see milling rates climb up a bit after we break free of harvest pressure and yield numbers get a little more accurate to how the crop actually ran and not just projections.

Soybean futures caught their breath yesterday after lower August crush numbers. Today is a new day and soybean futures have staged another leg-up fueled by continued Chinese demand and an announcement by the US EPA. EPA announced it will hold refiners to account on renewable inclusion rates. This has direct impact on corn consumption, but as it said “corn floats all boats” and the commodities board turned green today. Local bids are in the range of $10.75/bu picked up on farm. Dry bean harvest reports are in the early stages and average yields are being reported. We continue to get dry bean buying inquiries from a well-supported but not panic driven market. New crop faba bean bids are in the range of $7/bu picked up on farm for zero-tannin varieties. Tannin varieties may command a premium with early indication of $9/bu FOB farm for select tannin varieties.

Canola futures have jumped up sharply today after seeing small losses yesterday. Those losses came from speculators booking in profits and taking their risk off the table. End user demand appears to be driving prices up and this type of price strength at harvest might be a sign of strength to come for the rest of the crop year. November canola futures are sitting at $530.20/MT at time of writing while January futures are $536.90/MT. There is a bit of carry into March/May futures but a slight decline into July. As always, keep an eye on local basis levels and those deferred positions to find that little bit extra.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

The effects of early frost that touched most of western Canada are still yet to be seen. Specifically, on canola, reports suggest this frost could prove to be harmful in a few areas where temperatures dropped below minus 5 degrees Celsius and the crop was still standing. Luckily, many areas have canola swathed now and damage should be limited. We have seen bids perk up a touch this week due to a weaker Canadian dollar, strong soyoil markets and presumably some weather instability. Today, bids range between $10.25 to $11.50/bu depending on which area of the province you are in and delivery timeframe. The highest bids are seen for Jun-Jul 2021 delivery in west central SK. Please call your Rayglen merchant for a firm bid on your farm.

The pea market remains quiet into this week and some classes have even softened a bit more. Yellow peas are being bid up to $6.75/bu delivered plant, greens came down to $7.50 – $8/bu and maple peas remain at the $8/bu picked up mark. Yellow peas seem to have hit their lows, with hope bids will firm up later into the marketing year. Green peas, however, seem to keep slipping and buyer interest is lacking. Green peas are not likely to see the increase that we are expecting in yellows. As per reports, India’s yellow pea and desi pea prices continue to rise due to shrinking supply. This is where we could see some positivity in the yellow pea market further into the year.

Flax prices remain strong this week. With little carry-over, prices are in the $14.00-$14.25/bu range picked up in the yard. Flax supplies for 2020/21 are estimated to be larger than last year, of course considering any impact of frost this week. There is potential for strong exports this coming year to draw supplies down to the 2019/20 levels. China will likely need to increase their flax imports as there are reports that indicate damage due to heavy rains and we are seeing those prices firm up. While most of the Canadian flax crop is still in the field, the US harvest is well advanced. Flax prices are also edging up in Europe due to limited selling pressure from Russia. There is potential for price increases on Canadian supplies going forward.

Chickpeas saw a bit of frost this week but the hope from the market is that anything that might have been affected was already desiccated. There is still an air of uncertainty on the direction of chickpea value as we teeter on harvest and will get a full picture of quality and quantity from this year’s production. Acres were down but are the environmental factors combined with that enough to push the market up? Spot trades for large kabuli’s sitting at $0.27/lb FOB farm for a #2 and so far, no carry for further out delivery. Feed/sample values still at $0.12/lb.

Southern Alberta has pretty much wrapped up their barley harvest, so the onslaught moving into feedlot alley in Lethbridge has backed off. As such, we have seen a bit of a price pick up on barley. Prices are ranging in that $3.50 – $3.80/bu range for some quicker movement with the better pricing the closer to Alberta. If you are looking for stronger prices and are willing to defer delivery, give your Rayglen merchant a call. According to the most recent StatCan report, this year’s barley yield average is being pegged at 71.7bu/a which would make the second highest ever. That coupled with an increase in farm and commercial stocks has the potential for us to be loosening the belt a loop or two. What may possibly spell some relief comes in the form of an ongoing rift between Australia and China as China has imposed 80.5% duties on Australian barley imports. Could there be potential for Canadian barley to make some inroads??

Lentils prices see to gaining strength this week with increased bids in large green and small red lentils.  Markets for red lentils are trading as high as 25-26 cents delivered, while large greens are trading 28-29 delivered on offer. Small greens seem to be stable at 24 cents FOB farm again this week. Markets could be seeing an increase as Stats can released the project ending stocks.  The 20/21 ending stocks are pegged at 161,000 tonnes, which is 100,000 more than this year and 555,000 less than 18/19. A second consecutive year of low ending stock and high-quality lentils may have buyers trying to purchase now as an insurance policy just in case Australia’s and India’s crop have quality and quantity issues. Their crops have yet to be harvested and most of the Canadian crop is now in the bin.

Canary seed prices are holding up solidly in the harvest pressure season. Current bids from a few buyers are at 27 cent/lb picked up on farm for movement in early fall. You can add a cent on the price for movement into late fall or early winter timeline as well. We have not heard too many reports of yield on canary come through the office yet, but expectations are that a decent crop, like most others this year, was hurt by the hot and dry stretch that we saw in July. StatsCan keeps adjusting and readjusting past year’s production to try and account for canary seed that sits in the bins for multiple birthdays then strolls back into the marketplace when 30 cents appears like a Rip Van Winkle of the commodity world. All these updates so our carryover stocks do not appear as a negative number. This year’s supply will remain tight most likely to support prices but if you have bin space issues or bills to pay, we have options to move product in a timely fashion.

Soybean futures managed to stave off a profit taking tremble ahead of Friday’s WASDE report. Chinese demand clashed to offset any significant losses with purchases for their recovering national hog herd along with stockpiling to avoid another shortage. US soybean crop conditions continue to slide with reports of pod aborting due to heat stress. Local bids are in the range of $10.50 picked up on farm. Dry bean harvest is at its early stages across the US with the greatest progress in Washington and lesser amounts as you head east across the US. Dry bean markets remain well supported. New crop faba bean bids are in the range of $7/bu picked up on farm for zero-tannin varieties. Tannin varieties may command a premium with early indications of $9/bu FOB farm for select tannin varieties.

This week we have heard several more reports on mustard yields, and they are all over the map. It certainly depended on the showers this year and the late August heat and dryness seems to have brought expected yields down. Late flowering crops were especially hit hard it seems. Spot yellow is still generally trading at 40 cents/lb FOB farm for September/October movement, but if you need quick movement straight September movement is available today; this could change at any time. Brown sits at 30 cents for September movement still, so far. Oriental bids for short term movement continue to be a challenge with only a few options on the table. Call your merchant about an offer on oriental as a possible way to market it.

Feed wheat prices have stayed the course this week across the province. Bids range between $4.75-$5.25/bu FOB farm depending on location. Some buyers are looking to cover off a few loads for movement in the next week so if you need to free up a bin, now might be a good time to ship some out. We also have options going both east and west, so pricing is firm in more areas than usual. These bids are based on minimum 58 lbs and maximum 14.8% moisture wheat. We do have bids for wheat that does not meet those specs as well at discounted prices.

Milling oats pricing have stagnated a bit, which is not unusual during the harvest season. Prices range from $3.15-$3.35/bu delivered out into Manitoba on a 2CW grade. These prices are obviously more likely to work out of eastern Saskatchewan once freight is considered. On the feed side of the market, we have bids between $2.50-$2.75/bu FOB farm for minimum 42 lbs and maximum 14% moisture oats. As always, we have markets for off spec oats as well. Give us a call with your specs for a price picked up in your yard.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

Canaryseed is one of the commodities holding strength again this week. Consistent bids of 27-27.5c/lb picked up on the farm are the going rate for both old and new crop right now. If you’re sitting with some in the bins, there is still prompt movement options available and for those with product still in the field, you’re looking at Sept – Dec movement with potential to still obtain an act of God. If you’re looking to pad the pockets a bit more it never hurts to call your Rayglen agent to set up a firm target. This should prove to be an interesting year as ending stocks are lower than past years putting the pressure on a good harvest.

As of this morning, the canola market is trading around $492/MT on the November futures, a solid gain compared to a month ago when it was trading around $481.10 /MT. January futures offer some carry in value to $502/MT at time of writing. The rise in price right now could be related to yields that are expected to be slightly less than once thought. Reports suggest the heat wave in August contributed to canola crops not reaching full potential and pods not filling/ aborting seeds. We’ve also seen the soyoil market gaining strength which has been pushing canola values slightly higher.

Flax prices remain fairly strong for this time of year with prices up to $14.00/bu FOB. There are favorable signs of strong export demand for the upcoming year along with a small carry-over of supply. If the flax crop can make it through decent harvest weather, there will also be an improvement of quality from last year. Based on the USDA’s August seeded flax acres, we could see a decrease in reported acres. Still the biggest unknown is the Black Sea regions estimates of the Russian flax crop. Analysts imagine there to be reduced yields in the Kazakh area caused from drought. The flax prices are expected to hold as demand grows from China and Europe towards Canada.

Oats continues to trade soft again this week as the reported crop looks to be quite bountiful. As such, buyer pricing on old and new crop milling oats is hovering around that $2.50/bu range picked up on the farm, give or take a dime or so depending on location for 2020 movement. If you are able to hold out to the new year you will see a price perk around a quarter. If you have some feed oats weighing 43 pounds plus, the price is sitting around that $2.50 – $2.65 range. You heard right, feed oats, in many cases, are worth more than milling. An odd inverse not usually seen, which should be factored in when selling oats in the near term. 

This week there has not been much change in the pea market. Pricing is quiet as harvest is rolling along quite well in most areas. For the most part, pea yields have been pointing towards an ample increase in supply this year; this is also weighing on current prices. Yellow peas are trading at $6.00/bu picked up, green peas are $8.00/bu picked up and maple peas are also trading at $8.00/bu. To be able to avoid larger ending stocks for the 2020/2021 year, we are going to be counting on more peas being exported to China. China’s feed price has been increasing, which will hopefully support more Canadian peas being moved in, along with their continued demand from the fractionation market, as per reports. For right now, we can expect pea prices to stay quiet and any increases we may see will likely be later into the marketing year.

Harvest pressure seems to be affecting the barley market, as the weeks go on. Feed prices have been slipping every week now it seems, with current pricing trading at $3.15 – 3.75/bu. The stronger bids are being seen in South west Sask. Off the combine movement is harder to find, as many feed buyers are getting booked up for the coming months. There is a slight premium if you can hold on to the barley till early next year. Malt contracts have also been a bit harder to come by. We do have some pricing around $5.00/bu delivered for movement out to January – March.

Chickpea markets quite again this week as we wait for harvest to get underway. There has been adjustment on quality concerns or value and suspect we will remain in limbo until the first few acres are off. Feed chickpeas are still trading ranging from $0.10-$0.16/lb depending on down grading factors and there still seems to be a steady supply in the bins. No news on the Desi markets and trying to get a value out of the end user is similar to cracking the DaVinci code. Offers are the best route and values hover at the same levels as large Kabuli’s.

Chicago soybean futures continue on an upwards trend as they reach numbers not seen in a few months. Weather concerns in Arkansas as well as questions about the ability for late pods to fill across the Midwest is contributing to this price strength. Locally, soybeans are trading around $10/bu FOB farm for a #2 quality with no minimum protein levels required. On the faba bean side of the market, old crop bids have been minimal, but we have still been seeing new crop contracts come out around $8/bu FOB farm based on a #2 quality. There are discounted prices included in the contract for lower quality product.

Lentils prices are starting to feel a little bit of the typical harvest pressure as prices slide slightly since last week. Currently, reds lentils are trading at 24 cents FOB farm, while large greens sit in the 26-27 cent range for #2 quality, FOB farm. The early market outlook on lentils is that reds will see more downward pressure compared to greens. India has been heavily buying and we suspect the next big news that will affect this market is India’s decision on whether to increase tariffs. Taking advantage of a 24-cent market on another 5 to 10 bushel per acre may be a positive play this time next week if the Indian government does choose to increase the tariff. That being said, we may see prices on reds trail back either way due to amped up harvest pressure as more product becomes available. Barring any unforeseen circumstances, we do not expect lentil values to increase in the short term. 

Feed wheat prices have been weakening over the past few weeks and now, across Saskatchewan, most of our buyer bids have fallen below $5/bu FOB Farm. Comments around the province on wheat quality and quantity seem to be a bit of a mixed basket as always but overall decent with some issues of late heat causing weight & yield problems in some areas. The milling wheat bids around are no shining light either as many bids are sub $6/bu on a #1, 13.5 CWRS which is all in all pretty revolting. Once a bit of the harvest glut feeds through the Lethbridge feed market, we may see bids settle out a touch better in the winter as they often firm through the year.         

Reports are starting to slowly come in on mustard yields and at this point it is difficult to sum anything up as reports vary widely. It seems like showers absolutely controlled yields this year with drastic variances from producers only a few miles down the road from each other. It will be interesting to see how supply shakes out as mustard harvest gets fully underway. Spot yellow is still trading at 40 cents/lb FOB farm for August/September movement. Brown sits at 30 cents and oriental bids for short term movement continue to be a challenge with only a few options on the table. New crop mustard has basically finished for the year and spot prices now dictate the way.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.