Grain News

The chickpea market remains supported by strong export programs and a rise in Mexican and Indian pricing. Current Canadian bids are still quoted around 55 cents/lb FOB farm basis #2 spec with max 10% 7mms. If you have a higher percent of 7mms in your product, just let your merchant know as we will still be able to find a home with reasonable discounts. For our neighbours south of the border, US bids have been indicated at 38 cents/lb USD picked up on farm for large kabuli chickpeas. With export demand looking to remain strong, this will draw down our already lower supply, which should keep prices supported for this marketing year.

Spot mustard markets continue to hold their strength in value, which is now spilling over into some fantastic new crop programs as well. We all know that supplies are tight again this year, which is keeping prices supported, and the push for new crop acres has started. Old crop bids are indicated at $1.20/lb for yellow, $1.20/lb for oriental, and $1.15/lb for brown. Shipping windows remain attractive and we’re still able to contract for movement before year’s end if needed. If you have a target price in mind, just let your merchant know as firm offers continue to grab attention. New crop pricing has started out strong with bids indicated at $0.90/lb for yellow varieties, $0.90 – $1.00/lb on oriental, and $0.85/lb on brown, all with a full act of God on the first 10bu/ac. Speak with your merchant on movement options and firm pricing opportunities. We also have a good selection of certified mustard seed with treatment options and free delivery to farm available.

Flax markets remain much the same as previous days/weeks. Buyers aren’t aggressively buying, and sellers aren’t selling, which is presumably the reason these markets are in a holding pattern. There are still posted bids floating around in that $20.00 – $21.00/bu FOB farm range, but this does not appear to be a deep bid at all. The assumption is that if sales start to hit the books, these values will likely slip further. The US and China continue to buy cheaper product from other countries, and now reports suggest further Covid restrictions in China have forced many facilities at port to close up shop for the time being. The fact of the matter is most flax buyers remain comfortable with what they’ve already purchased and are somewhat willing to roll the dice on what the market is going to do down the line. Firm sales targets above posted bids haven’t been overly successful in recent weeks, but that option still exists for those willing to play the waiting game in hopes of stronger values.

Lentil markets are mostly sideways with demand seeming to slow compared to only a couple weeks ago. Bids on #2 large green lentils still hover around 52 cents/lb FOB for December/January shipping, while small green lentils show values around 50 cents/lb FOB. The red lentil market seems to be all over the map, but on the high end, 35 cents/lb delivered is still attainable in select locations with relatively quick movement. The market doesn’t seem to have a firm grasp on where red lentils are headed, but a recent influx of Australian production is hitting the market, causing some purchasers to pull bids entirely. So far, we haven’t heard of any fallouts regarding quality from Australia, but with all the discussion around untimely rain, this may still come. Today, it looks like any potential for red lentils to see an uptick in prices will depend on Indian purchases later in 2023. The green lentil market could see a slight rally in the new year as North American supplies are tighter than normal with Morocco, Colombia, and the UAE being the biggest importers.

Green and maple peas are gaining strength as yellows lose a little momentum this week. Although it’s not a widespread phenomenon, green peas have traded north of $14.00/bu FOB farm in a couple locations where the freight made sense. Growers are encouraged to post their firm targets up as these opportunities aren’t widely advertised. Buyers are starting to show interest in higher bleached and sample grade green peas for the feed market as well. Bids hover around $12-$12.50/bu FOB farm pending spec, which is a great opportunity to clear out any off-spec product sitting on farm. Maple peas have also seen an increase in price this week, with product grown from the Acer variety trading as high as $18.50/bu delivered plant. Other varieties are seeing strong values as well, up to $16.25/bu delivered. Yellow peas remain subdued compared to other pea markets, with very little aggressiveness seen on the buy side. That’s not to say that values aren’t attractive, as we still have options to move tonnage at $12.50- $13.00 FOB farm this week.

The oat market seems to be a bit more sporadic this week as some buyers sit on the sidelines, while others jump back into the ring for another round of purchasing. Those on the sidelines are content with current bookings and are generally uninterested in procuring more, unless values are low enough and shipment windows are wide enough. Those that are looking for product bring a welcomed change with bids at $5.00-$5.50/bu FOB farm on the east side of Saskatchewan… movement is still well into the new year. Sales remain slow as many producers want to see bids closer to last year’s highs and a quicker shipping option, but some growers have taken advantage of the opportunity in fear of missing a short rally. New crop bids are now out and quoted around $5.50/bu delivered plant for glyphosate free product. If this of interest, let us know and we can get you a FOB farm bid if that’s your preference. Feed oats continue to be searched for and values sit in that $4.00/bu or better range for another week.

The barley market is in a bit of a flux this week as corn makes its ascent into feedlot alley from the US. Additional unit trains are hitting Lethbridge which is taking the burn off the buying side of barley and buyers are starting to squelch bids a bit. Decent values are still out there to be had with bids in the north and southeast corners of Sask ranging around that $7.50/bu mark with stronger values quoted as you move closer to southern AB. Look to see top bids in SW Sask around that $8.50/bu and a little softer in NW Sask, around that $8 dollar range; all picked up on farm for Dec-Mar shipping. Looking for a little quicker movement? Talk to your Rayglen agent about putting up an offer. Sliding to the malt side, buyers are still sitting on the sidelines not looking to engage too much. If feed bids start to pull back, you may see the maltsters come to the table with a bit more of an appetite.

The canaryseed market remains unchanged for another week, a common theme seen for quite some time now. Buyers and sellers remain at a standoff, both sides content to sit and wait for the other to flinch first. A few loads have been booked here and there, but we are far from overwhelming amounts hitting the pipeline. Buying interest at historically attractive levels continues with bids quoted around 40-41c/lb picked up on the farm. Shipping windows remain reasonable, still quoted as Dec-Jan, which offers growers a good option for cash flow early in the new year. It is perhaps time to talk to your merchant about new crop values as well. Although we don’t have any firm bids, other commodities are starting to show bids for 2023/24 production, and we think it may be time to start throwing in 10bu/ac targets with an act of God.

Quiet markets for faba beans lately as buyers are not really looking and sellers don’t seem to be coming out of the woodwork with product. Bids remain around $13 to $13.50/bu on farm for #2 quality, whilst the feed prices still seem to be showing close to $10/bu depending on your location. Soybean futures have been mostly running sideways of late, not venturing too far out from $14.50 USD on the January for the month of November thus far, posted at $14.28 USD at time of writing. Markets got a bit of a kick up early in the week due to the missile strike in Poland, but the pop up seems to have backed off as cooler heads prevail. A weaker USD hurts the soybean values up here as well this week. Local soybean bids are showing somewhere around $18-$18.50/bu CAD today, maybe a touch better in the right areas as a picked up on farm price.

The wheat market continues to be sensitive to the events of the Ukrainian/Russian conflict. Wheat markets have dropped as details become clearer regarding the unintended and errant missile strike in Poland. It has now been confirmed the missile that left two of Poland’s citizens dead was unintentional – and likely came from a Ukrainian anti-missile defense system response to a Russian barrage. Committed bulls still focus not only on the Black Sea, but also dry conditions in Argentina, wet harvest in Australia, and poor winter wheat crop condition scores in the US Midwest. Local milling market values run near $11.75-$12.00/bu delivered, while feed values trail valued in a range of $9.25-$10.00/bu FOB farm, freight dependent.

Much like all grain commodities, canola is giving back the gains seen yesterday driven by tense Black Sea news. Local demand for canola remains strong and global edible oil prices are contributing to robust crush margins. Local crushers are reflecting that in their bid structure. Local bids are location dependent and range from $19.00-$19.50/bu FOB farm based on a Jan futures value of $882/MT and change at time of writing.

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 flax market had another quiet week, with some bids even softening a bit more. Right now, most of our Canadian flax is destined for US markets, while shipments to China remain subdued due to that market being dominated by Russian & Kazakh supply. Their prices are much cheaper in comparison to ours according to reports, and China is willing to take the discount in value vs quality for the time being. The only thing that seems to be keeping the market above $20 right now is growers’ reluctancy to sell at current values. Today, brown flax is priced at $20 – 21/bu FOB farm pending location and freight costs. There has been very little yellow flax interest lately, but a few trades have been put on the books with values ranging from $25 – 30/bu FOB farm depending on location, movement, and variety. It looks like we will have to wait and see if the new year will shake any new business out of the flax market.

Buyers continue to show interest in lentils, but values seem to have softened off a bit compared to previous weeks. We suspect that purchasers have now bought enough product from the market to put themselves in a comfortable position, but that doesn’t mean posted prices aren’t attractive. Red lentils are currently trading in the $0.33 – $0.34/lb FOB farm range with a bit of interest in higher priced product posted on firm target. Moving over to the green lentil world, posted bids on large greens are trading in that $0.52 – $0.53/lb FOB farm range, while small greens are now bid around $0.50/lb FOB farm. It’s much of the same scenario as red lentils; firm targets continue to grab buyer attention. Bids are still coming in at profitable levels and growers should consider hedging their bets. Getting a certain percent locked up and moved is a smart play right now, giving some cash flow back to the farm. There may be an uptick to these prices with uncertainty over the Australian crop, however, this is still an unknown. If buyers get stuck on the wrong side of a long position, the drop off could be fast and hard.

Pea bids are mostly sideways this week with green peas hovering around $14.00/bu FOB farm and yellows unchanged, still quoted at $12.50-$13.00/bu picked up. Pea values in India have lowered as the Rabi season approaches, so we could see some of this reflect in Canadian bids near term. The focus over the past couple of weeks has centred around green and maple peas on the buy side. With green peas showing a tighter supply number, we have seen a boost in bids and an increase in destinations. For those with maple peas in the bin, call us for pricing options as that market has had a strong rally over the last several weeks. Bids remain variety dependent, but all types are being looked at. The yellow pea market relies more on China, which has had little demand as of late. Australia’s pea stocks are very tight with the majority of supply used domestically, so this could offer some support as we move into the new year.

Mustard continues to show strength in the market for another week. Values on all types of mustard (brown, oriental, and yellow) sit over $1.00/lb FOB farm and show no signs of weakness. It is highly recommended that growers call our office as prices fluctuate, and we have seen offers trigger well above the posted bids; up to $1.25/lb in some cases. New crop pricing is strong with steady trades over the last couple of weeks as sellers lock in the first 5-10bu/acre. Call our office and we can help you pencil in values that show a great return per acre. We continue to book certified mustard seed with delivery to your yard as seeding plans are being made. With yellow, brown, and oriental mustard in the top three categories for your best returns, signing some acres at these once again historic values only makes sense. Reports suggest mustard supplies in the US and Canada are comfortable, however importers are rebuilding supplies after the drought year in 2021/22. There is a risk to ignoring these high values if exports drop back to more normal levels.

Buyers continue to show interest in all types of chickpeas with #2 large Kabulis still catching bids at $0.55/lb FOB farm for Dec-Jan movement. As a reminder, these bids are basis max 10% 7mm sizing; anything over that 10% mark will be subject to a discount, so knowing what you are working with ahead of time will save you a potential headache down the line. If you are looking for quicker shipping options, a few opportunities have popped up, but values will come at a slight discount. Buyers have also been on the hunt for feed chickpeas with bids hovering around $0.35/lb picked up on the farm. If your product falls in between #2 and feed, an offer is a great way to show the buyers that you’re a seller. Transitioning to our readers south of the border, values sit right around 38c/lb USD picked up. Freight and currency are volatile right now, so keep an eye on this market.

The canaryseed market is flatline again this past week. Buying interest is present, but bids have stayed steady ranging from 40-41c/lb picked up on the farm with the latter for Dec-Jan movement. Final crop reports have shaved another 15,000MT off Canadian production according to Sask Ag. The StatsCan numbers are a little more generous in the yield which means the actual yield number is still questionable. Typically, the canaryseed market follows a relatively predictable trade pattern, but this year, with no reported exports out of Thunder Bay, and slower than usual spring movement, that could be disrupted. It could be a slow-moving target as opposed to peaks and valleys we are used to if fall movement doesn’t increase.

Milling oats see another quiet week with a few outliers looking for supply, but only slightly increasing values. For the large part, bids are sitting around $4.00-$4.50/bu delivered with small opportunities at $5 in the SE of Sask. Again, no one is jumping up to sell their bushels at these levels. Feed oat bids also maintain tone around that $3.75 to $4.00/bu FOB farm for Dec-Jan movement. Some growers are contemplating a sale as feed with no quality risk deductions, especially considering the lack of milling demand and the narrow spread in value. The best practice today is to put targets out to the market to test the waters at levels deemed tradable. Call your broker for more info.

Revisions in today’s WASDE report and recent export sales have soybean futures up from opening values. Local bids are location dependent and range from $17.25-$17.75/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 large over harvest quality setbacks; the impact on the faba production region is still unknown. Local bids with export quality #2 faba bids being 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.

Wheat prices maintain similar to slightly lower levels this week with buyers showing delivered plant bids on #1 CWRS, 13.5 pro, at high $11’s per bushel in the nearby and low $12’s per bushel into the spring and summer months. Firm offers a little over market show some effectiveness in the fast-paced ups and downs of this wheat market as it moves largely sideways in no where near a straight line (i.e., up, then down, back up again, then down, repeat). Feed wheat prices remain strong at $10.50 to $11.50/bu in the yard with the freight cost factor being the biggest reason for the wide range out there. Quick movement on feed wheat is very hard to come by as buyers are having real struggles getting access to trucks. Durum prices are showing a $13.50 to $14/bu range this week on #1 quality depending on movement timeline and area.

Barley markets remain flat in pricing despite relatively widespread assumptions of an upcoming price correction. Bids still range between $7.25 to $9.00/bu FOB farm depending on freight costs and movement timeline. Barley prices, net to the farmer, are comparable to last year, but it’s the gross price that has the feed lots looking at other sources. Why? Those options may have cheaper freight costs. Barley sales this year so far are 3X over last year. This is likely the reason why we are seeing most bids pushed out to the new year for delivery. If you’re looking for a slightly better price than being offered, having a firm target gives you the best opportunity. This gives the buyer an opportunity to push the end user and find the best freight out of your area.

Canola markets are showing strength today after seeing a couple days of weakness. At the time of writing, we see January futures up nearly $12/MT with March not far off posting $10/MT gains. Canola has been reported as undervalued by some in the industry and is gaining strength back after a correction in veg oil markets. A rally in soyoil is also likely helping canola find its firmer tone today. Looking a little closer to home, some local canola purchasers are starting to fill up nearby shipping windows, now only looking for product into the new year. This seems to be isolated for now, but may be a sign of what’s to come across other purchasers. Basis levels remain relatively unchanged and bids hover around $20.50/bu, give or take pending shipping window and location, delivered to plant.

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.

Buyer interest seems to have shifted from yellow peas to green and maples this week. Green peas have firmed up and are now showing a price premium to yellows; something we haven’t seen in quite some time. A few deals were struck at $14.00/bu picked up basis #2 quality, max 3% bleach, with firm targets being the main catalyst to facilitating these trades. Maple peas have also taken a price jump, which started late last week, continuing into this week. Certain varieties of maples have been trading at $15.00/bu picked up in most locations, while even some of the less sought-after varieties are now seeing bids around $14.00/bu FOB. Renewed maple pea interest seems to be coming from China, which doesn’t come as much of a surprise as they are historically the main importer. Although yellow peas are taking a bit of a back seat this week, they remain priced at strong levels, with bids at $12.50 – 13.00/bu picked up. If you have a target price in mind, let your merchant know. Also, a friendly reminder to stay in touch if you’re needing seed this year, as we will have a few varieties available.

Feed barley prices remain aggressive today, but they carry a pushed-out delivery window into the new year. This week we have confirmation of two-unit trains of corn hitting feed lot alley and speculation of another slated to come soon. Buyers suspect this will eventually make an impact on feed barley values, but as of today we are not seeing that take affect. This adds further clout to the assumption that at some point end users will look for other, cheaper commodities to substitute for barley. Luckily, we’ve avoided any price drops thus far and growers may want to consider marketing even a portion of their production. There are still some pockets of earlier shipment being offered, however, the biggest setback remains the availability of trucks. Today, we are seeing a wide range in feed barely values due to logistical issues, with bids anywhere from $7.50 up to $9.00/bu FOB farm, all depending on timeframe of delivery and location. As is often the case, the closer to Lethbridge you are, the better the value should be. Maltsters remain relatively quiet this week, but we suspect this is due to higher feed values, and not wanting to overpay on their end just to keep up.

The canaryseed market remains ho hum, with buyer bids ranging from 40-41c/lb picked up on the farm with the later for Dec-Jan movement. Price support continues to hold for this commodity as carry out stocks are tight. Due to low carry, exports are expected to be tapered this year. It’s estimated that this year’s production increased 28,000MT over last year due to improved yields, which was greatly needed. This market continues to be a “cook while the pan’s hot” situation when the price spikes come. We’ll just have to wait and see if/when those opportunities present themselves and if markets follow the traditional patterns that have been interrupted for the past couple of years.

Chickpea growers hold posture as bids and buyers remain monotone for another week. While bids remain above average, other crops such as cereals and peas are being shipped in lieu of chickpeas in the hopes that news out of Australia will boost the Kabuli market again. Bids FOB farm for #2 Kabuli are around $0.50-0.52/lb depending on location and sizing. That being said, there are commercial sales happening (buyer to buyer trade) at $0.51/lb FOB farm. A bit of an inverse there which has a person thinking…. Chickpeas have several homes, which can mean different bid structures and value. Know what is in your bin! Get sizing and grades done and be ready to sell when the time comes.

Flax prices are unchanged for another week with bids in the $21.00/bu-$22.00/bu range picked up on farm. Despite record flax prices in 2022, seeded acres were relatively unchanged from 2021 and carryover for 2023 is expected to be close to an average level. Due to rivalry between other crops, some analysts are forecasting a decline in 2023 seeded flax acres, which might not come as much of a surprise considering the lack of acres seeded after record pricing in 2021. Competition overseas from the Black Sea region remains the front runner in keeping Canadian flax prices at bay today, while it looks like the possibility of lower supplies in 2023/24 could be the unknown that will drive up Canadian flax bids.

The canola market has seen mostly positive moves in the futures this past week, but a couple “off” days kept bids more or less sideways. January futures are up to $875.70/MT at the time of writing, which has bids flirting with $20/bu delivered to plant. We have growers that have been posting firm offers at $20/bu FOB farm and a few buyers showing some interest, but one of the hiccups is freight costs, which next to no one wants to own right now. If you have not sold anything, then consider any sale where you are into the $20/bu range as a good one and rewarding the market for honoring your patience makes sense. Every year we come across issues of bins heating with canola so keep that in mind if you have product in storage. Basis levels for fall 2023 are showing a negative $20-$30/MT range among some buyers, which is not a terrible rate to look at for offloading some risk. Obviously, there is a lot of time between then and now so drastic changes can occur, especially if we have learned anything over the last couple of years.

Lentil markets have settled down a bit this week, but values remain strong. Large green lentil bids have plateaued to 53 cents/lb FOB farm or a touch higher pending freight cost, while small green lentils remain at 51/52 cents FOB farm with continued demand. Red lentils have slipped a little this week, now trading between 33-34 FOB farm, down a penny or two from last weeks short covering spree. It looks as though buyers have covered their needs for now, but Australia is still a wild card in this market and will likely provide a strong sense of direction as to what happens in the next round of pricing. Buyers are still looking for French green lentils with grower targets trading over a dollar per pound this week. Interestingly, after some adjustments to input values, when looking at our crop planner for the 2023/24 season, large greens rank No. 4 and reds rank No. 7 in the return-on-investment category. These values were derived from average costs on a 3500ac farm and based on a 40 cent/lb large green and a 30 cent/lb red. For more info, please contact your merchant.

Mustard markets continue a blazing trail of good prices this week. Demand remains strong and consistent, and we’ve even seen new crop pricing roll out in some cases. We 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, with brown and oriental not far behind. Again, in this market, firm targets remain a very popular choice for growers to sell their mustard and have proven successful in securing trades on all types. Mustard seed sales have also begun; we have all varieties of seed available, treated or untreated with free delivery to the farm!

The milling oat market continues to struggle this week if we’re being blunt. Bids are virtually unchanged, sitting around $4.00-$4.50/bu delivered give or take, in Saskatchewan, for pushed out delivery. Some opportunities exist to ship product into Manitoba closer to the $5.00-$5.25/bu range, but freight is likely to eat into those values. Regardless, if you’re near the eastern SK border, it may be worth a call to see what kind of value works FOB your farm. The story has not changed: large average yield numbers across the prairies have buyers subdued and uninterested in purchasing over valued oats in an already over supplied market. This could change, but for now the situation remains. Feed oats, however, seem to be sought after quite consistently and are quoted around that $3.75 to $4.00/bu FOB farm mark in anticipation of filling feedlots with a cheaper supply of product than barley again this week. As you can see, these feed oat bids are on par with milling in many cases so be sure to talk to your merchant if you have oats that need to move. An offer online might be the way to go to drag as much as we can out of this market.

The wheat market is holding its own as bids sit around $12/bu delivered, in central Sask, on a 13.5 protein CWRS with pushed out movement. StatsCan estimates wheat is up 3.65MT/ha versus last year; a nice increase, but still tight on carry in stocks. If you’re looking to pull a bit more out of the market, give your Rayglen merchant a call to put in an offer. Buyer appetite is seen for feed wheat and at strong values, but it seems product is just not finding its way into the market as this year’s quality isn’t much of an issue. Growers with slightly off spec wheat and in some cases even good quality wheat, may find more enticing values headed into the feed wheat market – something to keep an eye out for when marketing. Flipping to durum, buyers have been buying old crop around $13.50-$13.75/bu delivered in with bids pushing the first quarter of the new year. As well, we have seen some 2023 new crop moving in SE Sask, so if you are looking to market next years’ crop, let us know.

Soybean futures have enjoyed a couple of “up-days” being driven by a softened USD, higher energy prices, and global demand for edible oils. Local bids are location dependent and range from $17.00-$17.50/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, yet the impact on the faba production region is still unknown. Local bids with export quality #2 faba bids being 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.

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 weaker Canadian dollar, along with a decrease in soybean production continues to help canola pricing today. At the time of writing, the board sits at $865.40/MT, which puts us just shy of $20.00/bu in some cases after factoring local basis levels. Buyers remain aggressive in buying and are starting to lock in some 2023 tonnage as well. If you are looking for a bit stronger selling price, we would highly suggest calling in and placing a firm offer. Firm offers and targets continue to grab buyer attention and also make sure your product isn’t missed with the ever-changing canola values. You may not want to sell the whole farm out of canola right now, but generally speaking, locking in some tonnage at these prices is a smart move today.

Bids have seen a bit of an uptick in the pea market last week and seem to have held into this week. Yellow peas are trading at $12.50 – 13.00/bu picked up in most cases, while green peas are priced around 12.50/bu picked up, for max 3% bleach. Maple peas ticked up as well, now quoted around $14.00 – 14.50/bu FOB, depending on variety and freight costs. Offers continue to strike buyer interest over these past two weeks, so if you have a target in mind, let your merchant know. Green pea supplies will be tighter in both Canada and the US this year, so there may be more upside potential in this market. Pertaining to yellow peas, Chinese demand may be limited as their fractionation market seems to be mostly covered and their feed market will rely heavily on the direction of the soymeal market.

No big changes in canaryseed markets of late as bids continue to be quoted around 40 to 41 cents picked up on farm. Buyers and sellers continue to show little interest to push things either way so, the market remains at a standstill. All parties seem content to, for the most part, wait and see what the future brings. Supply looks reasonably tight this year, but there is some debate as to just how tight, with StatsCan leaving some questions unanswered (2022 yield?) that the analysts out there have not provided a lot of answers to. Once we have clarification on how much canary was actually produced this year, we should have a clearer picture of market direction. If you need to move canaryseed, current price options are decent, and movement shouldn’t be too dragged out. If you’re not in a hurry to sell, then there isn’t too much downside risk, and holding out to see how things unfold isn’t the worst plan today.

Canadian flax supplies are reporting a 37% increase over 2021 production, but so far there hasn’t been much volume exported in the 2022 crop year. Knowing these facts, we must come to the conclusion this is due to lack of demand rather than lack of supply. Weekly averages of shipments are far behind compared to last year and at this time of the year, more flax should be in the pipeline. Flax prices are sideways with indications of $20.00/bu FOB farm hitting our desk with shipment before the new year, and a slight carry in value for shipment after the new year; around $22.00/bu FOB. The Black Sea flax prices continue to slide, making them a cheaper option, and Canadian flax even less competitive on the world stage. The spread between European and Canadian values have discouraged any new trade recently and we believe patience will be key for those looking at making higher valued sales.

Chickpea activity is steady for another week with both growers and commercial markets buying and selling. Values for #2 Kabuli chickpeas have traded between $0.50-0.52/lb FOB farm with the latter offered for holding product into the Dec-Jan timeline. In addition, global markets are still active and seeing values equivalent to $0.505/lb FOB farm trading to Pakistan from US origins. These stocks are likely to have been bought well before today’s values or are an attempt to decrease high stock at any decent value. It should be noted that offers are still rolling in from both growers and commercial sellers and those seem to be the contracts that trigger. Still a lot of mixed reviews for 2022 production and this has resulted in kicking tires. Sellers that have a price in mind are able to sell at levels deemed tradable for both parties. Sample/feed quality is still valued at $0.28-$0.30/lb and there is always a home for it! Have seed to sell? Need to buy some for next year? Call the office to talk options.

Soybean futures lost ground due to a stronger USD, low inland water levels on key waterways, and decent harvesting conditions. Local bids are location dependent and range from $16.75-$17.25/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. US yields have been reported as fairly strong, however the overall smaller planted acres will result in production levels that should be supportive for prices. Aussie faba production may be challenged by recent rains in Australia. Jury is still out as to the potential impact on faba production region. Local bids with export quality #2 faba bids being 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.

Lentil trades are a little quieter to start the week compared to last, but values are still strong. Laird prices seem to have stabilized at 52-53 cents/lb FOB farm for #2 quality, while red lentils continue to see bids around 35-36 cents FOB depending on movement timeline. Purchasers continue the hunt for French green lentils this week, with suspected trade values at or near $1.00/lb. Please give us a call if you have any French greens on farm. Generally speaking, recent spikes seen in lentil values has been attributed to many factors. In large green markets, concerns over the Indian pigeon pea crop, lack of farmer selling, and a weaker Canadian dollar support values, while red lentil strength is mainly due to weather concerns in Australia and the possibility of poorer quality product; supply does not seem to be of concern.

Feed barley markets remain strong for another week despite some rumors of corn shipments making their way into feedlot alley. Shipping seems to be the biggest issue lately, as truck availability and rates pose hurdles to moving product. Therefore, movement is starting to get pushed out to the new year as most buyers have either filled or are unable to make short-term commitments. Prices vary considerably due to freight costs and freight lanes, and we see spreads of $1.00 a bushel or more from eastern Sask to western Sask. The major concern for barley going forward is substitution and whether or not buyers can find other commodities that are cheaper to fill their needs. With a good supply of oats and rye on farm, these may become a more viable options as the year progresses, but only time will tell.

Mustard markets continue showing strong options this week and although it seems we say the same thing every week, demand and prices remain strong. All varieties sit over the $1.00/lb mark FOB farm with yellow quoted the highest around the $1.15. In this market, firm targets remain a very popular choice for growers to sell their mustard. It is never too early start thinking about next planting season either and with that said, we have locked up our seed supply for the year. We have all varieties of seed, treated or untreated with free delivery to the farm. New crop mustard has just started to trade this week as well. We suggest growers keep in touch regarding 2023/2024 production contracts over the next few weeks. Again, a firm offer on this may be the way to go.

Wheat markets remain relatively unchanged compared to recent weeks. Indications for #1 milling quality is right around $11.50/bu FOB farm, but bids do not appear to be deep. In the same token, we are seeing feed wheat trade around that same value, if not a bit higher as you move west across the prairies. Growers may want to consider pursuing this market and making no dockage and/or worry of discount sales rather than a milling sale. Onto the durum side of things; there appears to be more life in recent days and much of that strength can be attributed to the weaker Canadian dollar. Posted pricing sits around the $14.00/bu delivered mark with the possibility of hitting that value FOB farm if you can hold out until the new year for some Jan – Feb delivery. Buyers are also starting to show interest in 2023 – 2024 durum in the same ballpark as spot pricing. If you have durum in the 2023 seeding plans, locking in some tonnage at these values just makes sense right now! Maybe don’t sell the farm, but 5 – 10% of what your low average expectancy is would be a great number to start.

The oat world remains a topic of (non) discussion this week. Milling spec bids are flat for the most part, topping out around $4.00/bu give or take pending freight. That said, some milling buyers have started to drop values further, with one indication coming in sub $3/bu. Will others follow suit? As we have quoted in previous weeks, given the average yield across the prairies, buyers are not jumping at the bit to purchase oats into an already over supplied market… for the time being anyways. Feed oats, however, seem to be sought after quite consistently and are quoted around that $4.00/bu FOB farm mark (virtually on par with milling in many cases) in anticipation of filling feedlots with a cheaper supply of product than barley. There are rumblings of corn starting to hit the feed lots as well, so current feed oats values may not last as long as one hopes. Although next planting season seems to be an eternity away, trying to lock in some 2023 – 2024 tonnage may not be a bad idea. Although we don’t have any firm values at this point, please let us know if you have a sell price in mind.

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.

All types of mustard saw an increase in price this week, ultimately putting all varieties over the $1.00/lb mark FOB farm; yellow being valued the highest, followed by oriental and brown respectively. Buyers continue to hold their cards close to the chest when giving out bids, and more times than not, their price sheet may be less than what they are actually willing to pay. Firm targets, a common theme throughout this week’s comments, seem to be the best approach to getting mustard sold at top end values. It is never too early start thinking about next planting season either and with that said, we have locked up our seed supply for the year. Give your merchant a call to discuss pricing on all types of mustard seed including free delivery to the farm, they will be happy to provide you with all the details. New crop mustard has started in light trade this week as well. We suggest growers keep in touch regarding 2023/2024 production contracts over the next few weeks.

The flax market has not shown much gumption as of late, being content to ride along sideways with bids hovering in the low twenties. StatsCan says flax yields came in at 24.5bu/ac, which if true, puts flax supply at a reasonably comfortable level for the year ahead based on average exports. This brings us to the big question: will we export to places like China and Europe who are both major export destinations for our flax, or will those markets continue to be filled with cheaper product from the Black Sea region, which unfortunately is likely to be the case. Today’s outlook would not project for any major jump in prices with the US as the primary destination for Canadian flax sales. The system does not look like it will be very active, and prices are likely to slide sideways and maybe slip some depending on how anxious we are as sellers. Bids are currently maintaining $22/bu picked up on farm in very light trade.

Canadian chickpeas had another record month of exports as the market maintains tone. Talk of wet conditions in Australia are laced with speculation on location and just how much it will affect the levels of production on specialty crops such as chickpeas. The export numbers out of Australia have been down for the previous year and the carry is expected to be higher than typical. This would keep buyer interest in Aussie supply over North American for a period of time. The Indian rabi crop seeding has started, and it is expected that acres will be down for the coming year as other commodities have a better return. This will ring true for Desi’s more than Kabulis, but it can affect the market on a whole. Current crop bids for a #2 Kabuli are at $0.50/lb FOB farm Oct-Dec with sample/Feed values at $0.35-0.40/lb depending on the downgrading factors. No talk of new crop values, but buyers are always interested in hearing where the grower wants to be for the coming year. Might be worth a conversation with your broker!

The lentil market has creeped up a bit again late last week/early this week. Most of these price increases have been currency related, but also growers’ reluctance to sell. Large green lentils have had offers trigger at 52-53 cents/lb picked up on farm while small green lentils have traded at 52 cents/lb on a #1 FOB farm. Early this week, we had a couple small red lentils offers hit at 33.5 cents/lb and suspect these types of targets are still worth throwing out. Most of the lentil shipping windows have been quoted as October – November recently, so product is moving relatively quick. Unlike the green lentil market, increases in red lentil bids have been subdued comparatively. Red markets will have Australian competition in the coming months as harvest progresses, so that may keep a roof on how high the market can move. Offers seem to be driving this market, so if you have a target price in mind, let your merchant know.

Marketing oats remains virtually unchanged from previous weeks, with assumptions being that lots of buyers are still crunching this year’s production numbers. All in all, it appears that the average yield for oats was higher than expected, which is going to have an affect on the overall price. Prices continue to hover around $4.00 delivered in Sask and up to $5.00/bu delivered in MB with a pushed-out delivery window. Most buyers seem to be bought up for the months of January – March, but anything before that and after is still catching some attention. There is still some hand to mouth trading going on so we highly suggest posting a firm offer if you have a sell price in mind should any pockets open up. The same can ring true for feed oats as buyers are looking to source heavy product for that market as well. If you have some oat stock on farm, getting some of this sold is not a bad idea right now as it doesn’t look like value are going to pop any time soon. Put some cash into your pocket and open a little bin space.

Feed barley markets continue to boast some strong values, but recent reports across the industry suggest buyers are struggling to keep up with the freight side of things. This means most posted bids carry a wider delivery window or are being pushing into the new year as buyers don’t want to promise a shipping timeline they cannot achieve. Indication for feed remains anywhere from $7.50 – $8.50/bu FOB farm all depending on location of the grain and time frame of delivery. It can not be stressed enough that these historically huge values are a sell signal for at least a portion of your product. Maltsters continue to be poking around for the odd lot, but overall aggressiveness remains subdued. Firm bids seem virtually nil, and all interest is derived from offers. Recent interest has been shown for late 2023 shipping, but this hasn’t grabbed much producer attention. If you have a sell price in mind for either feed or malt, we highly suggest placing a target as they continue to catch interest.

The pea market traded generally sideways this week with growers continuing to find success through firm offers, which seems to be a common theme across most commodities these days. Green peas remain bid around the $12.50/bu picked up level, throughout this week, based on max 3% bleach. If you have higher bleach product, please give us a call as there are homes for it. Yellow pea targets have been triggering between $12.50 – 13.00/bu picked up with movement before the new year and buyers seems fairly aggressive for more at these levels. Maple peas showed some much-needed strength this week, with trades hitting the books at $14.00-14.50/bu FOB farm depending on variety and location. There is some speculation out there that perhaps the Saskatchewan pea acres are down more than previously thought. StatsCan has acres down around 12% compared to last year, but it could be even lower due to the planting delays this past spring. There are some thoughts that the number is closer to a 15% to 20% decline. Let’s see what happens, but this year could certainly be interesting for peas. In any case, these values are strong; remember when yellow peas were stuck at $6 dollars not long ago?

A weaker Canadian dollar helped offer some support to canola pricing over the last week and futures are up again this morning at time or writing. There have been some positive signals in the canola market as of late, as basis levels improved across most purchasers. The palm oil market has also helped sharpen the canola futures and this recent rally could warrant more sales on the books. Looking ahead to 2023, concerns of soil moisture in Western Canada and South American weather potentially affecting soybean production, puts 2023 futures at an attractive level as well. New crop bids are available for Sep 2023 with an indicated basis level of $30/MT under. Call our office for options on both new and old crop picked up in your yard.

Wheat prices are mostly unchanged this week with feed wheat bids creeping up near #1 values in some cases. Indications for both markets are $11.50-$12.00/bu FOB farm with shipping before the new year. Spring wheat futures are adjusting to a rebound in production after the 2021 drought, and the strength in the US dollar is also a limiting factor. However, markets in general are usually forward thinking and traders might shift their focus to 2023 in terms of moisture conditions in the US. Durum bids have gained a little strength with the best prices seen further out into 2023, quoted around $13.75/bu. The weak Canadian dollar could take some credit for this as well, so putting some sales on the books could be a smart play in case of a currency correction.

The canaryseed market remains unbothered for another week, sitting comfortably in its current trading range. Buyer bids hover at $0.40 – $0.41 picked up on the farm with the later for pushed out Jan 2023 shipping. The market remains ho hum, but there is some question around where this market is headed with less acres planted, but far better yields. On farm stocks are on the softer side, whether reported or not, with the assumption not much would have or should have made it through last years highs in the 50’s. Does this market come back to life and warrant an increase in price? Some may say these are already strong prices and does it need to shoot higher, but only time will tell. For now, this market is stagnant and comfortable.

Soybean futures popped up after the release of today’s WASDE report. Inland waterway bottlenecks and US harvest pressure remain as the market headwinds. Local bids are location dependent and range from $17.00-$17.50/bu FOB farm. Dry beans are expected to have adequate, but not burdensome volumes harvested north and south of the border. Stateside, local bids are experiencing harvest pressure, but north of the line the weak CAD has cushioned the pressure on local bids. As earlier stated, Canadian faba production will be on the lower end of the spectrum due to fewer planted acres. This has been somewhat supportive for local bids with export quality #2 faba bids being 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. Competitive pressures from the larger Aussie faba crop are expected to contain domestic Canadian bids.

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.

Soybean futures are experiencing pressure due to cooling global trade forecasts, a stronger USD, inland waterway bottlenecks, and US harvest pressure. Local bids are location dependent and range from $16.75-$17.25/bu FOB farm. Dry beans are expected to have adequate, but not burdensome volumes harvested north and south of the border. Stateside, local bids are experiencing harvest pressure, but north of the line, the weak CAD has cushioned the pressure on local bids. As earlier stated, Canadian faba production will be on the lower end of the spectrum due to fewer planted acres. This has been somewhat supportive for local bids with export quality #2 faba bids being 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. Competitive pressures from the larger Aussie faba crop are expected to contain domestic Canadian bids.

Barley trades continue to capture some great values, but nearby shipping windows are starting to fill up and movement is being pushed out. This doesn’t come as much of a shock given the historically strong values that are being posted for feed, which growers are taking advantage of daily. Today, bids across Saskatchewan sit anywhere from $7.00 – $8.00/bu FOB farm depending on freight and time frame of delivery; as is often the case, the further west the better. Alberta growers will likely see some higher values, possibly nearing $9/bu FOB farm in the south. Although the shipping windows are getting tighter and desired buyer delivery is now pushing into Jan – Mar, a positive carry in value should offset storage costs. If you have a “sell now price” in mind, firm offers continue to grab buyer attention. Malt bids are still periodically found, but buyers do not seem overly aggressive in pursuing any big lots at the moment, and for the most part, feed values remain just as competitive.

The pea market saw a bit of an uptick in pricing this week as our Canadian dollar continues to soften. Yellow pea targets are now triggering between $12.50 – 13.00/bu picked up with movement before the new year and some decent tonnage is being booked. Trying an offer at these levels is strongly recommended to see if freight works out in your area. Green peas had trades around $12.50/bu picked up throughout the week, based on max 3% bleach. We do have bids for higher bleach, we just need to know the percentage. Maple peas finally stepped off the $13 mark with trades at $13.50 – $14.50/bu, depending on variety. Offers have been getting quite a bit of buyer interest, so this is always an option if you have a target price in mind. As per reports, China started moving some peas into their fractionation market, which has increased their import needs; however, the feed market remains quiet. If their soymeal price increases, we may see trades into the feed market become more favourable.

The wheat market had a little push in pricing this past week with #1/#2 milling wheat now trading around $12.00/bu picked up based on 14.5% protein. We do have pricing available for lower protein wheat as well if you’re sitting on that type of product. The feed market also saw a bump in value with bids hovering around $10.50 – 11.00/bu picked up. Possibly the most interesting news this week has been rumors of $13.00/bu delivered milling durum for pushed out shipment. If you have a firm target in mind for any wheat or durum, let your merchant know as these are a great way to get top end bids in a rising market.

Flax pricing has taken a backseat this week due to limited demand. Russian and Kazakh flax going into China is priced well below Canadian flax values and this limits our export opportunities. With Russian flax pressuring the market, selling some flax before the new year deems difficult. If the US can find it’s footing on flax values, there could be increased opportunity for flax to move south. As of now, the flax market in Canada is still unstable and we could see pricing trend towards 2021 pre-drought conditions. If you are looking to move some flax, despite few little openings for prompt movement, call us to chat options.

Another sedentary week for chickpeas as harvest wraps up and growers assess what came off the field. Turkey and Russia have been exporting at levels lower than North America and will continue to do so throughout the 4^th quarter. The situation in Pakistan has created an unstable financial market which leaves sellers uncertain about moving volumes to that destination, leaving more in the open market for now. As world supply diminishes, buyers will look to North America for supply. Price movement is expected to be less of a “spike” and more so “waves” of price increases. Markets are still paying $0.50/lb FOB farm for #2 Kabuli’s with Oct-Dec movement and off grade/sample quality values are at $0.30-0.35/lb. Rumors of $0.30/lb new crop #2 large Kabuli bids are around, but still too early to put a pin in it. Chickpeas have many homes with several grade requirements so best practice is to send your sample off for sizing and grading to understand what you have to market before you sell. Due diligence can save you time and frustration.

In lentils this week: “Green is the color, pulses are the game, buyers came together and paying is their aim. So, sell your lentils for realized gains, while using Rayglen as your trusted trading name.” – now that we’ve got that out of the way… Large green and small green lentils took a big jump in price this week with a 3-4 cent bump in the LGL market and a 5-cent gain in the SGL market. Currency is one of the reasons for the price increase as the Canadian dollar falls, and this means some trades are finally hitting the books for buyers. Red lentils remain stable at 32-32.5 cents/lb FOB in many locations this week with not an overwhelming amount of trade taking place. For now, it seems bids will remain relatively stable, but we must remember Australia is still selling their product into the market cheaper. Buyers continue to look for specialty/ niche market lentils such as French greens and belugas, which are quoted around 75 cents and 53 cents respectively. Keep in mind these are advertised values and we’ve seen firm offers trade higher. As currency will most likely continue to rise and fall, values overall may continue to be a little volatile. If you are still waiting to make your first sale, this is a good starting point.

Oat buyers have been making more calls on availability of product this week and we are even seeing some better bids. Feed values have been bid and trading at $4/bu FOB farm in far Eastern Sk and #2 CW oats have had trades around $4.50-4.75/bu FOB Farm. There was a tweet making it rounds of gluten free oats valued at $8/bu, but has not been confirmed with buyers. Thank you, Twitter. There is still good demand for feed oats into Southern Alberta with corn not being a great replacement, so current tone is expected to maintain. Production this year has been reported as relatively good thus far with dry and frost-free production. A little of talk around fusarium, but nothing major to disrupt the market.

Canaryseed has been pretty quiet as of late with bids continuing sideways around 40 cents picked up on farm, plus or minus a cent depending on area. Weakness in the Loonie and stronger pricing in white millet should lend to canary values showing some perk, but thus far this week things have not wavered much. Supply may be tighter down the road than suggested earlier by StatsCan as some uncertainty has risen around seeded acres. This uncertainty revolves around a substantial gap from insured acres from crop insurance reports, so we have some intrigue as to what is actually out there. Not that canaryseed is unfamiliar with major questions about supply, as canary seems to sit fine in a bin for 10 plus years, then magically show up in the market. Marketwise today, values are good enough to warrant sales, but show some promise of upside if the cards get dealt the right way.

Mustard markets are solid for another week as prices hold strong while the pipeline is slowly filled back up. Harvest, in most areas, is getting very close to completion now and we should soon have a good outlook on this year’s stocks. It is assumed based on increased acres and current demand trends that this year’s values wont quite reach last year’s highs, but only time will tell as we progress. When quoting prices this week, we want to stress that it’s important to talk to your merchant about an offer. This remains the most effective way to market your mustard these days, as quoted value vs what someone is willing to pay does fluctuate. Brown mustard sits at the $1.00/lb range for Oct/Nov movement, yellow continues to trend as high as 1.15/lb for January/February shipping, and oriental is still sought after being indicated at the $1.00/lb range as well for October/November movement; our guess being targets may trade higher. We have seed available again and it’s already selling at a brisk pace – please contact your merchant for details.

The canola market has seen quite a hike in price since last week. At the time of writing, we are seeing the board running at $872.40/MT equating to some pretty nice values that break $20/bu delivered in. The softness in the Canadian dollar is helping as is a projected softer tone to bushel reports from this year’s crop. Final numbers are not in and won’t be for some time yet, but speculation is that ending numbers falling just shy of 19MMT is a possibility. Market decreases in soybean and soyoil have helped keep canola at bay, but on a whole, the market remains volatile.

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 harvest is well under way and reportedly 83% complete. Statistics on yield remains in the air, but undoubtedly there is more production coming off this year (157K MTS) compared to last (76K MTS). Globally, Argentina, typically a smaller caliber producer, will harvest their chickpea crop in Nov-Dec and initial reports suggest drought has affected yields and sizing, reducing their production. Mexico, typically a larger caliber producer, has seen a gradual increase in value on their production indicating potential supply chain concern. Bids to Canadian growers have also been gradually creeping up over the last several weeks with spot pricing at $0.48-$0.50/lb depending on location, FOB farm. Sample and feed chickpeas come in around $0.30/lb FOB farm depending on the down grading factor. It feels like there are some concerns in the market regarding supply availability as well quality, which still loom over North American production. The next StatsCan report is due out in December to shed more light on the situation.

The world of bean trading seems to be rather slow as of late, but rightfully so as the market continues to try and find itself. All around expected tonnage is set to be lower than previous years, making the hand to mouth trade lighter than normal. Sellers are hesitant to let go what they have given anticipation of an expected price run, but current indications for soybeans still range between $17.00 – $17.50/bu FOB farm. Faba bean bids sit around $13.50/bu FOB farm, which is a strong value to get something pushed into. The feed side of the market seems to be wavering near $9.50/bu FOB farm, another great value to get product sold into. The coming weeks should give us some more outlook as to what the pricing is going to do in the bean world, but quoted prices to date are still great values to get some cash flow and movement.

Flax markets have been quiet of late as most buyers remain hand to mouth on purchases, and sellers seem to be in no hurry to increase sales. Production numbers on flax are better than last year, but still a fair bit lower than the 5-year average. StatsCan is projecting 460,000MT for the year at this juncture, though there is still plenty of time for those numbers to be adjusted. The outlook on exports still projects US to be our #1 destination, although it is likely some tonnage will be heading towards the EU. Sales into China will be limited as they continue to buy cheaper Russian flax. Canadian flax harvest seems to be clicking along and edging closer to 50% done at this glimpse with the wetter and later areas yet to come off. Quality on flax so far has been decent with no red flags thrown up from buyers or end users at this time.  Currently we are seeing bids at $22/bu picked up on farm, but as mentioned buyers are not aggressive so we may need to look under some rocks to find the right deal.

This year’s barley crop is pegged around 9.4MMT, which should provide a little bit of comfort for carry in stocks that are close to the 10-year average. Expectation is for carry out stocks to sit around 0.55MMT, keeping the margins tight. Strong corn pricing lends support to this crop and as such, we continue to see solid feed barley bids hovering in that $7 – $8/bu range with the latter closer to Alberta. Gone are the days of prompt movement as buyers are pushing into Nov-Dec or Jan-Mar on bids. That being said, if you have a specific price and movement that you’re looking for call your Rayglen merchant to post up a target. Malt bids have been fairly quiet this last bit so posting an offer out is a great way to snag some interest. Make sure you know your specs as this will go a long way for marketing it.

Pea markets have seen a little more demand this week, which is likely attributed to a combination of lack of farmer selling and a lower Canadian dollar. Yellow peas are in the $11.50-$12.00/bu picked up range, while green peas are indicated at $12.00-$12.50/bu picked up. If you have maple peas in the bin, there are some opportunities to get those moving as well, albeit values remain stagnant. The pea market is expected to stay fairly stable near term and likely throughout the year, but we may see small fluctuations. There are still some unknowns that could change this market including Chinese import needs, which could require more product from Canada if Russian peas are of lower quality. However, current prices are still too high for the feed industry, meaning it could lead to peas having to be more aggressively priced into the feed channels. Some analysts expect green peas to have a premium over yellow peas as demand remains steady along with a smaller increase in production.

With an improved canola supply this year, the canola futures market has returned to a more typical carrying charge situation. That said, prices for nearby delivery are still very strong and a good option for addressing any fall cash needs on the farm. Our lower Canadian dollar is stimulating local bids, but the CAD did begin to show an increase today. Local bids are in the range of $18.25-$18.50/bu for Oct/Nov shipping location dependent. Growers are still encouraged to throw out desired sales targets on our firm offer system as FOB farm if these values are outside your delivery zone.

Lentil markets have been pretty exciting over these last couple days. First, we had large greens pull up to 46-47c/lb picked up on the farm, followed by a spike in small green lentils as bids ratcheted up to around that 44-45c/lb picked up mark. Finally, shifting gears over to the reds, buyer appetite picked up as well early in the week with product triggering between 32-32.5c/lb FOB in a few different locations. At time of writing, reds have quelled a bit, with bids more susceptible to freight costs. Though we’ll throw in an asterisk as there has been a little action in the SE corner of Sask still at 32.5c/lb FOB. These are strong bids as Aussie crop exports in July were at record pace to date. Piling on to that, Aussie harvest will start to take place in Nov/Dec and will be hitting the market. The soft CDN dollar has helped prop up bids with buyers trading against the USD. Greens continue to hold value as yields are softer, there is less in storage and the Indian tur crop looks to be under a bit of pressure.

Oat markets are a bit “hit and miss” this week with the major players seeming to have good coverage until the new year. That said, recently there have been a few other buyers stepping into this market and making purchases for Oct/Nov movement. This week bids are as high as 4.50/bu FOB Farm for #2CW oats in the best freight areas, while feed oats are trading at roughly a dollar discount to those values in most locations with stipulations on test weight; feed purchasers are still looking for heavy product. Agriculture Canada’s latest report suggests that the oat supply will be approximately 4.98 million tonnes up from the August estimate of 4.82 million tonnes. The market may also see another increase once the final numbers are made available, which will further affect this market. Today’s prices are down considerably from last years highs, but still above historical prices.

Mustard markets remain strong this week and some varieties are even seeing a bit of an uptick in value. Brown mustard this week has trade as high as $1.01/lb for Oct/Nov movement, up 4 pennies from the highest trades last week. Yellow mustard has traded as high as 1.15/lb for movement out to February. Oriental is still sought after and is indicated at $1.00/lb for November movement with our guess being targets will trade higher. Last weeks’ Saskatchewan Crop Report pegged the mustard harvest to be about 88% complete, with the southeast having the most crop left to harvest. This years’ harvest is about 11% behind last year with reports suggesting that the provincial yield average is estimated at 1102 lbs/acre compared to 431 lbs/acre the year prior. There is still product to hit the bin, especially in SE Sask, so we will have to wait and see how that affects final yield estimates.

Wheat futures rallied overnight based on Russia’s partial military mobilization and the fear it will slow harvest progress and Black Sea exports. Couple that with a weak Canadian dollar and wheat bids are strong with local milling wheat values in the range of $11.60/bu FOB farm par Saskatoon region. Grading patterns across the Prairies are strongly tilted to the top two grades due to favourable harvest conditions thus far. That said, feed wheat volumes will be less abundant this crop year and current local feed wheat bids are in the range of $9.50-$10/bu FOB farm.

The canaryseed market did not really react to the StatsCan report last week. Prices remained fairly solid at that 40 cent/lb level and maybe a touch higher for deferred shipping. Buyers so far do not seem concerned about inventory as the numbers come in even less than last year. The production estimate of 157k tonnes, was below last years’ mark by a few tonnes. Yields certainly do get better as harvest comes off on the east side of the province, which may see numbers one way or another in the coming weeks. It’s important to talk with your merchant and perhaps try and offer at 41 cents/lb if these values don’t quite do it. For now, it seems the market has found its equilibrium and is comfortable in its trading range.

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 chickpea market has held up virtually sideways over the past couple weeks. There remains a pretty wide range of bids in the market, with some buyers showing 50 cents/lb and others showing 45 cents, so it’s best to look around for options right now. Most bids are not deep, but sellers are not aggressive, meaning markets are not getting overrun at this point. There are some smaller sizing problems showing up this year in certain pockets, but this has not been an overwhelming issue such as years past. Low acres and middling yields lend to the idea that prices will remain supported this year, but not all in the trade feel that way. We must remember the local market is a drop in the bucket in the wide world of chickpea supply, so only time will tell. For today, price levels are historically strong, but with rising costs of production, prices need to be historically strong. Taking the top off your sales today isn’t the worst move to take some market risk off your plate, but if you’re not looking to make a move like that just yet, please keep in touch on pricing levels throughout the marketing year.

Canola futures were down earlier this week and prices remain irregular again today. European canola futures along with some harvest pressure gave an overall weaker tone to canola this week. Futures dropped nearly $6/MT, but have found strength today, after Tuesday’s market closed. Delivered plant bids range anywhere from $17.80/bu for the nearby up to $18.15/bu out to December this week. Some analysts recommend being half sold on canola as there could be some more downside risk. Targets are a great way to try and push the market, so if you’re interested in throwing an offer up, let us know!

Flax markets remain much the same this week with bids still sitting in the $22.00/bu range picked up on farm. Russia’s flax crop makes for a cloudy outlook on Canadian exports as the Black Sea Region is expected to dominate in the world flax market again. The 2022 flax crop has reports of 1.5 million tonnes, up from 1.3 million last year, and Canadian flax prices are still above Russian values. This spread in value will discourage sales into China, a predominate purchaser of “cheap” product, while the US will likely have limited import needs. Today’s values need to be considered in your marketing plans.

Reports indicate the canaryseed harvest is roughly 45% complete as of last week, which is above the 10-year average. StatsCan has bolstered the canary seed yield thus increasing production to an estimated 157k tonnes, still below the pre 2021 average of 169k tonnes. As such, the price continues to hold steady for another week with bids firm in that 40-41c/lb picked up on the farm. Looking over this past year, it was one of the highest exporting years since 2010/11 even though it was one of the worst harvests on record. Underreport on farm stock continues to find its way into the markets. With what looks like a decent crop pulling in and prices remaining firm, it gives hope that maybe there is room for a bit of strength down the road.

The pea market has stabilized on less aggressive farmer sales and slowing of exports. Current yellow pea prices are quoted around $11.00/bu FOB, with potentially higher bids in Eastern Sask for pushed out 2023 movement. Green peas are sitting at $12.00 – 12.50/bu FOB farm, pending location, with lower grade/off spec product trading around $9.00 – $10.00/bu. Maple peas trades remain extremely quiet, with bids indicated at $13.00/bu FOB. The US pea crop has been reduced with yields not as bad as last year, but still a bit disappointing. This could lead to the US having to import more peas, according to some reports. Chinese fractionation markets continue to be one of the main avenues for Canadian peas, but more agreements being signed between China and Russia should eventually lead to Russia supplying the Chinese feed industry.

Wheat futures markets saw a bit of strength as uncertainties are still present around the Black Sea’s export potential according to reports. Late last week, we had indications on 13.5% pro #2 CWRS at $11.20/bu delivered, which captured a few trades. Growers interested in these types of values are encouraged to reach out, even if protein is on the low end as there are options available with slight discounts. Soft white wheat has been trading recently as well, with bids sitting around $9.50 – 10.00/bu FOB, based on the wheat being heavy and dry. Durum prices came up a smidge with $11.50/bu delivered being shown on #1 product in some locations across the province. We may also have an opportunity in southeast Sask to get a premium on good quality durum, so speak with your merchant for more details.

Barley markets come without much change this week and continue to carry some great values to push product into. Although quick movement on the feed side of things is becoming less and less attainable, there is still some spot purchases happening for that Oct – Dec delivery timeframe. Those that can hold on to product for a while, firm targets are triggering between $7.00 and $8.00/bu with the latter values most prevalent in western Sask and Alberta for Jan – Mar 2023 pickup. Malt barley remains somewhat quiet on the forefront, but indications of $7.50/bu and up depending on variety, timeframe of delivery and location are still seen from time to time. It seems that your best bet is to call in with your specs and place some product on firm offer to get the most attention. We continue to see some all-time top market values being purchased, so if you are wavering on the decision to sell or not, we think getting even a small percent sold is a good move.

The oat world continues to be a mixed topic of discussion this week as most purchasers remain unaggressive in the search for product. Reports of bolstering yields and previously contracted product seem to be the main reason for the lack of general bids and/or purchasing. However, there are some sporadic, above market bids for limited tonnage that have popped up for relatively quick movement. Today, good quality, glyphosate free oats are triggering in that $4.00 – $4.25/bu FOB farm range for Oct – Nov delivery. This bid doesn’t seem too deep, so if you have product you’re looking to move, we suggest calling now. Feed oat bids sit right around $3.50/bu picked up for heavy product and remain in light trade. It’s hard to picture what the future is going to hold for oats, but we would highly suggest moving some product into the values that are being posted right now. Even if you think that the price is going to go on a run, getting some of this product locked up to create some movement and cash flow is a smart move right now, as market signals suggest a bearish tone this year.

Lentil market pricing remains similar to last week with virtually no change in demand parameters. Buyers are still showing the most interest in purchasing large green, small green, and French green lentils, while red lentil bids and demand remain stable, but relatively quiet for this time of year. Large greens are trading at 45 cents/lb FOB farm for October movement, small greens at 42 cents FOB farm, and French greens have traded as high as 75 cents on offer. French green buyers are only looking for a number one quality, so if this sounds like the product you’ve got in your bin, please let us know! French green buying seems to be hand to mouth as most sales are for October movement with very few buyers looking to purchase product for further out delivery. As for market news, not much is being reported at this time, but with the 2022 Pulse & Special Crops Convention this week in Niagara Falls, we might hear some new information that will help determine market direction toward the end of this week or early next week.

Today’s mustard prices remain very strong as buyers rebuild inventory. This week, we are getting a better overview of yields province-wide rather than just certain areas. We also saw StatsCan did lower its yield estimate to a more realistic ballpark of around 730/lbs/acre, which feels like a much more reasonable number to us. As the pipeline fills, will prices start to show weakness? Perhaps, but we think this is something to keep a close eye on as we creep into October. For now, values continue their aggressive tone with yellow priced around $1.10/lb, brown quoted at $0.98/lb and oriental is still being looked at for $1.00/lb, all picked up on farm based on a #1 grade. Lower grade mustard still has aggressive bids as well and we think this is a great opportunity to lock in lower spec, especially if the #1 price does start to pull back at some point. We still have some quick shipping options available on all types and grades of mustard, but buyers need to see samples, so we urge growers to get them submitted as soon as possible.

Global competitive pressures are creating headwinds for Chicago soybean futures. Argentina is offering its growers a currency manipulated stimulus which has spurred farmer selling despite an otherwise inflated Peso. This occurs rather untimely for the US grower during what is commonly a robust export season. Local bids are location dependent and range from $17.00-$17.50/bu FOB farm. The market is expecting lower new crop dry bean supplies both north and south of the border due to lower planted acres. Typical harvest delivery pressure is affecting local bids, but tighter supplies are anticipated to prop up that market in the longer term. Canadian faba crop volume and grading pattern will reveal itself over the coming months. At this point, lower volume and quality are expected due to a sharp drop in planted acres coupled with a later planted crop. Aussie faba production is expected to drop from last year’s levels, but still sit above the 10-year production average. Export faba bids are 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.

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.

StatsCan reduced its Canadian canola production forecast to just shy of 19.1 MMT. A bounce back from last year, but by no means a bin buster with yields falling short of trend line yields. Couple that with lower carry in supplies from last year, and a forecasted recovery in global veg oil markets, Canadian supplies are likely to remain snug. Locally, harvest basis values have been attractive and perhaps indicative of longer-term tighter supplies. Local bids are location dependent and range from $17.35-$17.75/bu FOB farm.

After a big run up following the USDA report and soybean yields coming in below expectations, it has been countered by the potential of a large Brazilian soybean crop. The futures market now sits roughly with a net 50¢/bu up from Monday’s open after today’s losses. Local bids are location dependent and range from $17.00-$17.50/bu FOB farm. The market is expecting lower new crop dry bean supplies both north and south of the border due to lower planted acres. Typical harvest delivery pressure is affecting local bids, but tighter supplies are anticipated to prop up that market in the longer term. Canadian faba crop volume and grading pattern will reveal itself over the coming months. At this point, lower volume and quality are expected due to a sharp drop in planted acres coupled with a later planted crop. Aussie faba production is expected to drop from last year’s levels, but still sit above the 10-year production average. Export faba bids are in the range of $11.00-$11.50/bu FOB farm and feed quality values are near $9.50-10.00/bu FOB farm location dependent.

Barley continues to catch strong values that should be considered in marketing plans this week. Current feed barley pricing shows quite the range pending shipping period, but many trades are taking place between $7.00 – $7.50/bu FOB farm. These types of values have been popular amongst growers and although delivery windows are pushed out a bit, the majority seems to be moving before the new year. For growers needing bin space and/or cashflow within a couple months, or even a couple weeks, opportunities are available, albeit values are discounted. We cannot stress enough that these types of bids should be strongly considered. If you take the 5 and maybe even 10-year average, today’s values are well above and are nothing to shy at. We are starting to see some traction on the malt side of things as well, so if you have had your product tested and are looking to contract, or need it sent away for specs, please call. To date, it is hard to determine what is going to be out there for supply into the malt chain, however, it seems we may end up with some better quality malt than initially anticipated. Firm offers and targets remain a great way to grab buyer attention, so if you are seeking anything over quoted values, let us know.

Oat markets are not necessarily at a stand still, rather, better pictured as a turtle this week. We continue to hear some phenomenal yields being pulled off and buyers are hearing the same thing. Although quick shipment is getting tough to come by, there may still be some opportunities available with prices wavering around $4.00/bu delivered for October. Add another $0.25 for Nov – Dec and another $0.25 well into the new year, quoted as April forward. Recently added interest in feed oats puts values right around the same prices as milling oats if they are heavy and dry. It is not uncommon to see oat purchases taper off around harvest time as buyers wait to see what available supply will look like and make their own plans. Sitting somewhat on the outside and looking in, at this point, it’s likely a fair assumption that these values are not going to be “running up the mill” anytime soon based on yield reports. If you can capture some of this earlier pricing, we suggest considering getting a certain percent sold, clear up some bin space, and get some cashflow back onto the farm.

Reports of reduced mustard yields roll in mainly attributed to intense late season heat and grasshopper pressure weighing on crops. That said, it is expected that ending stocks will still bounce back to some extent based on quite a large increase in acres. Right now, prices remain historically high for all grades of mustard, and growers should be looking at sales closely. Yellow is priced around $1.10/lb, brown sits around $0.96/lb and oriental is quoted at $1.00/lb, all picked up on farm based on a #1 grade. We still have some quick shipping options available on all types and grades of mustard, but buyers need to see samples, so we urge growers to get them submitted ASAP. Lower grade mustard is also priced favorably and worth looking at if you still have off grade in the bin and/or this year’s quality isn’t spectacular. This market could pull back a little once more farmer selling starts happening, even with the yields being reduced.

News in the Canadian flax market this week was that Sask Ag lowered its provincial yield by a bushel per acre, dropping to an estimated 23bpa average. This decrease may not affect price a whole lot as StatsCan’s estimated the ending stocks at 85,000MT, which was higher than first thought basis record pricing highs last year. We will have to wait and see if this gets adjusted once final numbers are in for the year. The larger carry out number is not the only problem. Russian and Kazakh flax is shipping cheaper into China, while the US market has an increase in acres for the 2022 crop year, presumably dropping some need for Canadian product. At this point in time, our two largest trading partners can find cheaper product elsewhere keeping a lid on Canadian values. However, bids are still in the $21-$23/bushel range this week and remain a historically high price for flax. If you’re thinking of selling, this may be a good time to strike as early market information suggests a bearish tone for the marketing year ahead.

Chickpea markets are sideways for another week with price indications around 48-49 cents/lb FOB farm. With stronger global markets and lack of Canadian selling due to lower-than-average yields, prices are likely to stay firm over the next while. Indian Kabuli prices have softened, however, Turkish prices remain firm despite a fresh harvest. This could indicate solid markets for Kabuli’s going forward. With mixed yield reports in Saskatchewan, there could be an adjustment on the next StatsCan report. This would bring supplies considerably down from last year further adding to a bullish view. Reports of the Mexican Kabuli crop also suggests supplies could be limited. All in all, chickpea prices are likely to be supported as we head into the new year.

The pea market has been interesting this week as a bit of a shift back to historical prices balance came about. For the first time in a while, we are seeing green pea prices above yellow pea prices. Yellow peas have been at a premium with the advance of the protein market since last fall, and this week, finally, greens have regained a bit of the premium they usually carry. Unfortunately, the premium doesn’t really develop from a strength in green pea price, but rather a weakness or indifference to yellows as buyer bids have quieted down and markets are cold. Current pea bids are at $11 to $11.50/bu on yellows, while greens peas can capture bids closer to $12/bu picked up on farm. If you have greens with a higher bleach count, we have buyers with interest around $10/bu depending on location. If you are a maple pea grower there is buyer interest at $13/bu or better picked up on farm pending variety and location. Maple buyers are specific on which varieties they’re after, so please have this information ready!

Lentil estimates from Sask Ag show a significantly lower yield versus StatsCan’s July report with a difference of roughly 330lb/acre. StatsCan is due to release an updated vegetation image from Aug sometime today. Either way, our lentil crop lb/acre will be lower than what was anticipated. Bids seem to be relatively supporting the market as producers haven’t over sold pushing prices down. Red lentil bids continue to receive the least amount of attraction due to the majority of farm stock red in nature with competition coming from Aussie crop and Indian rabi crop. Bids sit around 30-31 cents/lb picked up on the farm for Sept-Oct movement. Now things get a bit more interesting when dealing with green lentils. US harvest yield is better than last year due to increased acres, but still below the statistical 5-year average lending support to the green market. Small green lentils continue to hold at 40-41c/lb picked up on the farm with large greens priced around 43-44c/lb picked up; targets slightly higher may be looked at on a case-by-case basis. On a side note, we have seen buyer interest in French green lentils around 72-75c/lb picked up on farm, so if you are looking to move some, give Rayglen a call.

Canaryseed prices remain solid this week, currently sitting around the $0.39-$0.40/lb mark for relatively quick shipping. Growers looking to push that value higher may be able to attain $0.41/lb FOB farm on firm target for later movement in the November/December timeframe. Yield reports from the west side of the province are very mixed and seem under average at this point. Dry areas still under drought pressure have been the culprit for below average yields on a whole as those pockets continue to suffer from terrible yields. Now we will start to see some yield reports come in from the east side of the province as they start into canary. This, we suspect, will help pick up the yield average as some of those crop looks fairly big. Give us a call about that offer if you are looking to move some product.

Wheat markets are still speculating on possible quality issues as harvest starts to wrap in some areas. It’s still a bit too soon to tell how widespread any actual damage might be, but the buzz is about fusarium and ergot. Globally, there are rumors that Russia will have logistical challenges with not being able to supply railcars for movement, and this could have an effect on China’s purchasing power out of North America. Despite talk of tight supply, prices maintain for another week. Bids range from $11.00/bu delivered into central SK this week, while feed wheat shows bids around $8.50-$9/bu depending on area and freight costs. Durum markets still have a low tone for the 4^th quarter, but if quality issues come to fruition, we could see some value on milling quality in 2023.

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.

Soybean futures are under some pressure due to US crop condition scores and reduced Chinese imports. US soybean crop is currently rated at 57% good to excellent, with much of the critical crop development phase behind us. Chinese soybean imports are running 25% behind last year due to lower livestock production and weak crush margins. Local bids are location dependent and range from $16.75-$17.25/bu FOB farm. The market is expecting lower new crop dry bean supplies both north and south of the border due to lower planted acres. Typical harvest delivery pressure is affecting local bids, but tighter supplies are anticipated to prop up that market in the longer term. Canadian faba crop volume and grading pattern will reveal itself over the coming months. At this point, lower volume and quality are expected due a sharp drop in planted acres coupled with a later planted crop. Aussie faba production is expected to drop from last year’s levels, but still sit above the 10-year production average. Export faba bids are in the range of $11.00-$11.50/bu FOB and feed quality values are near $9.50-10.00/bu FOB farm location dependent.

Wheat markets show signs of life this morning after Russian President Vladimir Putin spoke to the press. Futures values are showing double digit gains after Putin suggested that export corridors were not reducing food costs as intended, but instead were benefiting their enemies. We’re sure much uncertainty and/or worry lingers around those remarks, but according to reports, Ukraine is still shipping product safely under the protection of the UN and Turkey. Bids today on #1 CWRS hover around $11/bu delivered plant with CWRW and CPS showing roughly 50-cent and 75-cent lower bids respectively. Values on all three fluctuate a few pennies pending location and delivery window. Feed wheat bids remain around $9/bu with demand and actual trade light this week, but if you have product you’re looking to move, please don’t hesitate to reach out.

Chickpea harvest is underway, and buyers are keeping a close on eye on quality and yields. We are receiving more of the typical calls from growers on where values sit today, but see little to no contracting happening, suggesting growers are bullish. Seems everyone is playing a game of chicken with chickpeas, and no one wants to flinch first. Global markets remain steady with strong exports out of supplying countries. Canadian supply demand is still relatively slow with a few outliers looking to fill positions. Current bid is $0.49-$0.50/lb FOB farm for #2 Kabulis and freight sensitive. Feed/sample values maintain tone at $0.30/lb.

Pea harvest has been trucking along with mainly favourable harvest conditions, but some concerns have been brought up suggesting higher temperatures are causing more splitting. Ukraine’s pea harvest has been reduced; however, Russia’s is expected to be quite large, and reports show they have been exporting. As mentioned before, Europe is going to need a feed supply due to their corn crop failure, but Canadian product is still priced too high to meet those needs at the moment, so for now we play the waiting game. Current bids on yellow peas are indicated at $11.00 – 11.50/bu picked up with the latter getting tough to find. Green peas are priced around $11.00/bu and maple peas remain quoted at $13.00/bu, both picked up on farm and in light trade.

Oat markets remain a topic of little discussion throughout the buy side over the last couple weeks. We continue to hear above average, to down right “bumper” yield reports as harvest progresses and we suspect the price is going to reflect on those numbers. Bids for a #2 CW are floating around that $4.00 – $4.50/bu range pending location this week, but these do not appear to be deep bids. Feed is not far behind sitting in that $3.00/bu range. We assume buyers are also hearing some of these yield reports and are not pushing to lock in major tonnage given the overall supply that appears to be coming our way. If you are on the fence, but are considering a sale, pushing product into these values now is suggested as these prices will likely continue to drop off in the coming days or weeks. Stronger values may be seen for push shipping windows into the new year, so be sure to explore those options if movement isn’t a necessity at this point.

Barley continues to capture some great pricing in feed and in some cases malt markets. Although feed barley pricing has fallen off a bit from last seasons highs, historically the value it brings is still good, if not great. If you are looking for prompt movement, bids range around $6.00/bu. If you able to sit on it for a month or two, values perk up quite a bit, now sitting around $7.00-$7.50/bu. Finally, if movement isn’t a concern, growers willing to take Jan – Mar delivery time frames should call the office to discuss their options as there is potential for some better pricing opportunities. All bids are area dependent and quoted as FOB farm. Maltsters are quieter this week compared to only a short while ago, but the odd opportunity is popping up. Desired buyer shipment seems to be early – mid 2023, and if this sounds like it fits your needs, get your samples into the office so we can have them reviewed. If you are looking for anything above market on either feed or malt, we highly suggest calling in and placing a firm target. Let us do the work for you.

Flax movement has been slow to start the new crop year. Prices are hit and miss around $22.00/bu picked up this week and demand remains subdued. The slow start likely reflects softer demand coming from overseas and the US and although Canadian supplies were tight with little to no carry-over, the overseas market was not experiencing any shortfall in supply. Russian flax into China has been well established and it will become more difficult for Canadian flax to regain some of that market share. The spread between European and domestic on farm flax values are now within a reasonable range and the hopes are that this could help renew demand. This is good news, but we must keep in mind that prices are likely to remain sideways or possibly drift lower at this point to continue to align with European needs.

The canary market values have slipped off a little for the nearby as sales hit the books this week. Current bids to move canary prompt have slipped down to $0.39/lb for many buyers with bids around $0.40/lb for shipment pushed out to Christmas or beyond. The stocks seem to be very tight as we move into the new crop, but we are still being shown product that is carryover from previous years in the recent weeks, so there still seems to be hidden stock. Expectations are that this year’s crop will not be a big yielder as large amounts of canary are grown in some of the driest areas of the province, but later harvested crop further east in Sask should bolster the yields. Millet stocks in US look tight, so that coupled with low carryover and weaker crop should keep prices supported throughout the crop year once again.

Mustard prices remain very strong for another week and seem to be shrugging off any harvest pressure at this point. That said, as the pipeline fills and contracted mustard is picked up, we may perhaps see some slip in prices as immediate needs are filled, but so far, solid pricing remains for all types. This week we see grower offers on yellow mustard creep above the $1 mark with trades taking place in many instances depending on your movement needs. Bids for September/ October shipment show brown mustard sitting in the mid 90 cents/lb range, while oriental continues strong at the $1/lb mark again this week. If you have freshly harvested mustard, contracted or not, call us to arrange grading or to obtain a sample address and get them submitted as soon as possible as shipping has been quick. It’s important to call us and discuss a marketing plan to book your un-contracted mustard as well to obtain maximum values and/or suit your needs.

Canola is taking a beating in the market again with futures falling under $800/mt for November. Overall, pricing has decreased steadily since the spike in May when bids topped out at $1225/mt range. Still, the market continues to see historically strong bids even with harvest pressure, as the bulk of the canola crop is set to be pulled in over the next couple of weeks, presuming the weather continues to hold. Buyer bids range around $17.65/bu in west SK with southeastern SK bids bottoming out at $16.20/bu at time of writing for Sept/Oct delivery.

Lentil markets seem to be stable for another week with specialty lentils gaining more interest than traditional lentils. Large green lentils have not changed much from last week with #2 quality trading in that 43-44 cent/lb range FOB farm. Small greens show values around 39-40 cents this week, but targets at 41 may be looked at. Buyers seem to be looking for green lentils quite consistently, but not willing to push values much higher, suggesting the market has found a comfortable position at this point. Red lentils are trading between 30 & 31 cents FOB farm depending on location and buyer, with the latter getting tough to come by as some buyers start to fade bids slightly this week. Reds are continuing to see pressure from cheaper foreign sales and supply from around the world. As mentioned above, specialty markets such as French green lentils are showing strength and strong demand. Bids are being shown around 65-70 cents on French greens today, but sellers may be able to push this market and additional cent or two by having firm targets set. If you have any of these products in the bin, you may want to consider selling a percentage of your production at these levels.

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.