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Rayglen Market Comments – November 17, 2021

Yellow pea bids are still holding strong this week, but with US markets pulling back a bit, we could see a ceiling created for Canadian values. China and the US are currently the main importers of yellows, so there may be some downside potential as markets waiver and buyers show decent coverage for the time being. Green pea bids haven’t seen much change for a while as demand remains status quo, but more buying interest may be starting to shape up for later in the 2021/2022 crop year. Reports suggest India’s pea plantings, although at an early stage, are already outpacing the 5-year average due to favorable weather conditions. It remains uncertain if this will translate into increased acres, but the possibility is there. Current Canadian FOB farm bids remain the same as last week. Yellow peas are indicated at $18/bu in many areas, greens are priced at $16-16.50/bu and maples have seen trades hit $19/bu depending on location and variety. Buyers are also still showing some interest in new crop yellow peas; call your merchant if you have a target price in mind.

Minimal changes are seen in the wheat world this week as milling values remain supported and we continue to see a strong push for feed product. Feed trades are happening at the $11.00/bu FOB farm range in most areas for heavy and dry product. On the milling side of things, a #1, 13.5% protein or higher indication floats around $12.48/bu delivered central Sask today with delivery starting to push into the new year however. On the durum side of the market prices remain strong ranging from $20.00 – $22.00/bu for grades ranging from a #3 up to a #1. If interested in these prices, one would highly suggest calling in and talking to a Rayglen merchant as recent programs on durum seem to fill rather quick. Once the buyers obtain their desired tonnage; the bids slide off again so don’t miss the window!

Canola futures have been up and down this week, but January futures broke through the $1000 mark at time of writing, currently sitting at $1006/MT, an increase from $995/MT last week. Some buyers have already started to base their bids on the March futures which are also up this week to $990/MT. This puts local bids in the range of $22-$23/bushel depending on basis levels. With soy and palm oil markets showing strength, some weakness in canola futures may coming from expected shipping issues due to rail lines and roads being washed out in the recent BC storms. Despite this recent news, the outlook continues to be strong for canola moving forward.

The oats market has run sideways this week as $9/bu bids, or even slight better, stick around for #2 quality. If your quality is not quite up to snuff for a #2, it’s an easily obstacle to clear as bids for lower grade oats are still at very reasonable levels. So, get a good handle on what you have and take advantage while these all-time prices are available. Fall prices for next year’s oat crop are showing bids at $6/bu picked up on farm or better in some areas. New crop oat prices don’t carry an act of God clause protecting against production shortages, so the risk is higher than locking in crops like mustard, flax, or lentils where there is protection against shortfalls due to circumstances out of your control. At least these strong prices lend to the belief that this oats market may have turned a corner against the lower price’s that carried on at for quite some time. Hopefully the health food craze of oat milk is here to stay!

Lentil bids remain relatively unchanged from last week, but now concerns over possible shipping delays due to flooding and rail disasters in British Columbia creep into mind. Red lentils continue to trade in the 44-45 cent/lb delivered range for Jan-Mar movement, with buyers content to trickle product in and unwilling to chase sales. Green lentils experienced a small, but welcomed, increase in demand this week as we see a few more buyers asking about small and large greens. Large green bids are indicated as high as 63-64 cents/lb delivered plant for #1 quality, while #2’s are bid at 58-60 cents/lb delivered. As mentioned, more interest is seen from the buy side in small greens, with #1 quality trading at 60 cents/lb FOB farm in many areas. Lentil markets continue to trade hand to mouth with most buyers searching for limited tonnage. Take advantage of these opportunities when they pop up.

The barley market continues to plug along this week with little change. Movement, for the most part, is getting pushed into the new year, but values remain historically strong for both feed and malt. Southeast Saskatchewan feed barley continues to see the strongest bids for “premium” quality compared to the rest of the province, with one buyer looking for product at 50lbs and max 13.5% moisture. Growers with these specs can expect to capture bids in the $9.25/bu range FOB farm for Jan-Mar movement. “Regular” feed barley is trading anywhere from the low $8.00 range to as high as $8.75 in the right area. Malt barley continues to show strong values as well, trading between $10.00 – $11.00/bu FOB farm, pending freight costs, quality and quantity. We have buyers willing to purchase off spec malt as well, so be sure to have your grade sheets ready.

Soybean market buoys on hopefulness from the virtual meeting between U.S. President Biden and Chinese President Xi Jinping. Domestic US demand and edible oil global demand are also bolstering soybean market confidence. Local bids have been as high as $14.50 to $15.00 FOB farm, location dependent. Feed fabas continue to trade near $13.00/bu FOB farm, with #2 export quality trading $15.00/bu FOB farm. Dry bean carryover inventory continues to weigh over grower bids, but with that said, inventories remain in firm hands.

Canadian chickpea values are losing a little steam as recent US domestic trade volume begins to fill. Export buyers continue to indicate buying reluctance at current Canadian values. Around the globe, the next kabuli harvest will occur in Mexico and India. Mexico is set to begin in March sometime and India some time in Apr/May. Mexican acres are thought to be down and there is some indication that Indian acres may increase based on higher local values. Today, #2 OB large kabuli chickpeas are currently trading near $0.55-0.56/lb picked up, while sample grade is indicated at $0.47 to $0.48/lb picked up.

Flax prices are a mixed bag this week and while bids are holding strong for new year shipment, the pool of buyers willing to pay top end values is dwindling. The rally in flax prices seems to have slowed and with sideways pricing the last couple of weeks, it’s time look at what’s left in your bins. New crop values this week still linger between $24-$25/bu picked up with an act of God. Yellow flax also remains strong with bids seen on old and new crop catered to variety. Call your Rayglen merchant to discuss pricing options. The strongest demand for flax has been coming out of the US, however, the volume of demand is getting thinner and once the US is satisfied with their volume, business will have to shift. Exports to China have been limited as Canadian values are too high. Analysts still question whether Canada is pricing themselves out of other global markets such as China and the EU.

There is not much different to talk about this week on the mustard front. Everybody in the mustard world knows what’s happening and record prices continue to trade. We are now seeing yellow bid at the $1.20/lb level FOB farm, with buyers also willing to entertain brown mustard at similar values. Oriental continues strong and would likely trade around the 80-85 cent mark for Forge or Vulcan type, with some buyers even willing to entertain Cutlass variety at those levels. We are now seeing new crop acres being booked and grower targets rolling in with buyers looking at all reasonable offers. These prices look outstanding and include an act of God. Please be aware of the seed situation as it is critical to find a pure supply. Talk to us about all types of mustard seed delivered to your yard as we have been delivering product to farm for years and make it as easy as possible for you.

The canaryseed market remains unchanged this week as buyers and sellers are in a “standoff” situation and neither are budging. Growers continue to hold out for higher values, similar to the ones seen earlier in the year, while buyers are content bidding $0.49-$0.50/lb FOB farm whether they buy or not. New crop bids are still quoted around $0.35/lb FOB farm or $0.36/lb delivered plant today. Trade remains slow, but acres are being booked, so if you’re on the fence, now may be the time to lock in 10bpa with an act of God at these historically strong values before buyers cover their needs. As always, firm targets are a great way to show the market what you have available. Targets have and continue to be an effective marketing tool over the past few months.

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.

Rayglen Market Comments – December 5, 2018

Producers have delivered around 30% of their 2018 pea crop according to reports. This number is ahead of last year’s 29%, but still behind the 5-year average of 34% at the same time. Chinese exports have totaled around 275,000 tonnes for the month of October. Total for the year so far is around 1.66 million tonnes. If the China/USA trade deal comes together on soybeans, you could see the price of yellow peas decrease, but we will have to wait to find out. Currently, yellow peas are trading at $6.75-7.00/bu FOB farm, with an indicated Dec/Jan delivery timeline. Green pea markets continue to show strength this week, and bids have shot up to $10.00 FOB farm. Maple pea markets also remain perked up at $15/bu picked up with delivery pushed to a Feb-March time frame. We have a very good supply of common and certified pea seed as well. Call your merchant for details.


Flax bids are still holding strong with #1 quality trading at $13.30/bu delivered to plant and milling quality trading at $13.25/bu picked up. We are seeing support being held due to our weaker Canadian dollar. However, the demand is also being supported by the smaller flax inventories in China. Flax is showing some potential with this Chinese demand, but the Black Sea region is keeping prices at bay for the moment. According to Stat reports, Russia and Kazakhstan had harvest delays and their export volumes are now getting back on track. Looking to yellow flax, we have bids at $13-14/bu picked up with the bids getting stronger as you head south east.


Soybeans have been on a bit of a rollercoaster ride since the U.S. – China trade talks wrapped up on Sunday. Moral of the story, no new tariffs for ninety days. At this point nothing has been completely resolved, therefore markets will remain rocky until we see how each country comes to a firm agreement. If or when China places their first purchase of U.S. soybeans, markets should react in a positive way. If talks continue to be positive as we near the ninety-day deadline, markets should remain stable, but at this point they’ve been anything but smooth. Where the danger lies is if China does not come to market immediately and do not purchase as large volumes as the market has or is anticipating. The U.S. government may view this as China not bargaining in good faith, which will also have a negative impact on the markets. Anyone who thinks this is resolved and things will go smoothly has to remember that these talks have been ongoing for 2 years. Let’s hope that the two sides get this sorted out before the ninety-day deadline. Soybean bids still hover around the mid $10’s/bu picked up in the yard today. Faba bids have seen no change this past week; feed at $6.50-7/bu, #2 quality at $10-12/bu pending specs.


The lentil market has managed a small rally lately based on reports that India is experiencing below average seasonal moisture. The market was led by #2 large green lentils rising to 22 cents/lb picked up. #2 small red and #1 small green lentils shortly followed suit with picked up bids at 18 cents/lb and 19 cents/lb respectively. Not to be left out, #2 medium green lentils have now joined at 15 cents/lb picked up for some of our US clients and high teens to maybe 20 cents for Canadian product. The market seems to be buying small speculative weather positions. Buyers are often filling these by purchasing producers firm target prices through our grower offer system. With regard to India, last we heard pulse planting is north of 70% complete and running only slightly off the 5-year normal planting pace. The larger concern is the impact of the reduced monsoon rains from October and now lower subsoil moisture. Indian tariff-based protectionist import policy remains the same, so whatever the weather outcome is in India it is likely to be overridden by government policy.


Mustard, put it on your hot dog. Also, a seed crop in Canada that has had very little excitement over the last several weeks. Canadian export numbers remain the same compared to this time last year, but domestic use is down to 800MTS vs 2,900MTS in 2017. With Statcan final production numbers unchanged from initial reports, it would be a factor in understanding the stale market. New crop values have started to be the buzz, but the bids have people talking more about hot dogs than seeding mustard. Not sure if the sentiment is “higher prices or no acres”, but no one is willing to pull the trigger yet.  Yellow Mustard old crop $0.34-0.35/lb with new crop at $0.30/lb, Brown Mustard old crop $0.29-0.30/lb with new crop at $0.26/lb and Oriental Mustard old crop $0.25-0.26/lb with new crop at $0.25/lb. All on the farm and all freight dependant. For your mustard planning needs, call us! We have certified seed available for new crop and have many options, including untreated, treated, and included delivery to your yard.


Feed barley markets have seen little change with bids holding firm. Good feed barley has traded this past week at $4.55/bu picked up on farm for Jan/Feb movement, depending on location. This market hasn’t seen much change in some time and will likely continue its sideways pattern in the near future. Movement is the variable factor that continues to get pushed further out. There has been some new crop feed barley getting booked with bids seeing $4.00/bu or better depending on location and delivery; act of God has been offered in some cases as well. Malt contracts have been slower to come out so far this year, but we imagine this will change into the new year with buyers looking to secure some acres for the upcoming year.


Chickpea prices holding strong this week with 27.5-28 cents/lb picked up in the yard trading. There are also new crop contracts out at 27.5 cents/lb FOB farm, with an act of God. Call our office for details. There seems to be some mixed signals in the market on how large the Canadian chickpea crop was. However, Canadian production is only part of the overall picture. The US crop is estimated at 588,000 tones up from 313,000 tonnes. The US is one of Canadas largest buyers, so this has an affect on Canadian pricing. The lower chickpea prices compared to past years is starting to find some recovery, but that won’t happen quickly. Acres are likely to get cut back in some main growing regions due to the amount of supply available. There is also some interest in desi chickpeas, with an indicated price at 25 cents/lb picked up. For those with off grade chickpeas or higher moisture, we have options, call the office!


The feed wheat market has remained relatively flat this week as bids range from $5.25-$5.50/bu picked up in your yard depending on location. Bids tend to get stronger the further west you go. That being said, we have been seeing opportunities in the far southeast corner of Saskatchewan as high as $5.70/bu picked up for dry and heavy feed wheat. Pricing does get a bit better the longer you are willing to hold on, but opportunities for quicker movement do exist if needed. On the milling side of the market, bids stayed flat at slightly over $7 delivered. Small premiums do exist for protein over 14% so let us know what you have, and we will find our top bid for you. We still have some attractive deferred durum pricing deep in the south east corner for movement in late 2019/early 2020 if you’re able to store it in the bins for a while as well.


Oats remains the same as last week, with little to no change. With yields this year fairly average, you probably will not see big jumps in pricing. For milling quality oats, bids sit between $2.75-3/bu FOB farm depending on freight. If you are in the south east corner, close to Manitoba, you will see bids get stronger as that is the direction most is headed. Feed oat bids are around $2.25-2.50/bu FOB farm also depending on freight. Make sure you let your merchant know if your oats were sprayed with Glyphosate, as some buyers do not want that. With the market being flat, offers are a great way to catch the price you want if there is a little movement, so talk with your merchant on posting one.


The canola market has been marginally stronger this week. Despite some big jumps in the soybean trade due to an informal moratorium coming from China and US on trade hostilities, canola seems rather unaffected. Between movements in Soy, Soy Oil and the Loonie, it’s tough to peg what the Canola market will do next. Current bids around the province are up to $10.25/bu in the yard in some areas, but not widespread as the basis levels are not as inviting in other locations. If you have a target price in mind touch base with your merchant and we can see about posting a firm offer up to see if any buyers can sharpen their pencils a little on basis levels. We will see if Thursday’s release on StatsCan production numbers shakes up the trade at all or if the analysts have been correct in their latest tonnage predictions.


The canary seed market has been solid this week. Some trades have taken place at 23 cents/lb FOB in advantageous freight areas, while other bids hover at 22.5 cents. Recent Sask Ag yield data was lowered by about 100 lbs/acre and we expect the on-farm supply to be a bit tighter this year. This could allow us to see a slight jump in the market, but how big that jump may be remains to be seen. Call your merchant to put an offer in if you’re looking for a little more for further out movement.

Rayglen Market Comments – January 17, 2018

Flax prices this week vary depending on location. We are seeing bids anywhere from $12.00-$12.25/bu picked up in the yard on #1 and milling quality. The USDA reported last week said that US flax supplies would drop by 90-100,000 tonnes, due to the lower seeded acres. Flax prices in the US have not reacted to the smaller production as this estimate was already anticipated. Canadian exports picked up in December with the majority moving to China; however, Russian flax has also been making its way into that market. Linseed production is up 22% in the Kazakhstan region, higher than the record set in 2016. In general US demand for Canadian flax should remain strong through 2017/18. Prices should remain firm to higher until closer to the 2018 new crop. The yellow flax market has been quiet with some bids around $13.50/bu. We still have markets for off-grade flax so talk to your merchant about pricing and movement.


Canaryseed values have been affected by millet markets. Birdseed packagers prefer to use millet because of its lower cost. There are also larger production numbers on millet this year, which makes it hard to see a price change in the canaryseed market in the foreseeable future. Canaryseed production is most likely higher than reported by Stats Canada as well. Exports are on pace to be around 150,000 metric tons for marketing year, which is suggesting that the crop is at least 25,000 metric tons more than opening season data. Pricing on canaryseed is sitting around 19.5 to 20 c/lb FOB the farm, depending on area.


Pea markets are still facing similar challenges out of India. Tariffs remain in the forefront of everyone’s mind along with increased pea planting, 5% above the 5-year average. Looking at the weather in India, they have had very little rain, but they are experiencing mild temperatures, which mitigates things. Also, it is way too early to tell any crop outcomes. India’s pea pricing has been turning higher, which could suggest that supplies aren’t as heavy as initially thought. This raises questions that maybe import demand could return sooner than expected. For pricing, we have $6.50/bu picked up on yellow peas and $8.00/bu picked up on green peas. Looking to the future, prices are expected to stay steady with green peas having more potential upside.


Barley this week has taken a bit of a shift backwards. With corn still easily entering the market as a substitute, prices are now low enough that we are seeing the price of barley fall. There is a lot of supply left in the bins and movement is getting pushed out. Malt barley prices have not been great and we are seeing farmers dumping into the feed lot for quicker movement, with very little risk of discount or rejection. Prices right now are $3.85/bu FOB Farm in certain areas for a January-March movement. You may be able to find a premium if you can haul primary weights in the spring. Offers are a great way to catch a high in the market so make sure you are talking to your merchant on that.


Sometimes it feels like we write the same report over and over, but the chickpea markets remain one of the lone bright spots for the time being. If you have unsold large Kabulis in the bin we have a few buyers looking to cover some sales, so touch base with your merchant. On the new crop prices for large Kabulis, bids remain at 38 cents FOB farm for #2 product and contracts include an Act of God. Kabuli acres are increasing in many corners of the world so the supply issues that have hit the lentil market loom over chickpeas and a new crop contract will most likely be a savvy move. The desi chickpea market has gotten beat up lately with bids down to 23.5 cents a pound on #2 quality for both product in the bin and forward selling with AOG coverage.


The oat market has had very little news as it continued its sideways trend over the past few weeks. Feed bids are still popping at $2.10-$2.20/bu picked up in your yard. These prices are based off heavy and dry feed oats. With that being said, if you have any off-spec oats we have opportunities at slightly lower prices so be sure to give us a call to see what we can do for you. #2 CW oats are trading in the $2.30-$2.50/bu in your yard. Typically, prices get better the further south the oats are located, but sometimes small opportunities show up, so be sure to get your target offer in with your merchant to try and catch a premium.


Soybean futures have been up since the January 12th USDA report. The trade felt the report was less bearish than had been expected. U.S. ending stocks were only raised higher by 25 million bushels and exports were only reduced by 65 million bushels. Although these are bearish changes, they weren’t as bearish as what was anticipated. The true positive aspects were that domestic crush was raised by 10 million bushels, and the U.S. yield was lowered from 49.5 BPA down to 49.1 BPA. Also, the much-watched Brazilian crop was only increased by 2 million MT and the Argentinian crop was reduced by 1 million MT…so net-net S.A. only up 1 million MT. Keep an eye on Chinese demand. There is rumor that USDA agreed with a request from China to impose stricter standards on U.S. soybean shipments to China. The recent run-up in our Canadian dollar has had a negative impact on basis, putting a lid on price hikes. Local soybean bids are $10.00 FOB farm range. Local faba bean bids are in the $5.75/bu range for feed.


Buyers have come out with new crop small green, large green and red lentil bids.  The small greens have been trading with No.1 at 25¢ & No. 2 23¢/lb. Large green lentils No.1 27¢, No.2 24¢, and X3 19¢/lb. New crop reds are trading at No.2 17¢/lb. All these are FOB farm with AOG. We are starting to see sellers looking to move red lentils as some producers are needing meet to financial commitments and others are looking to check bins. Prices are trading at 17.5¢ FOB farm. Markets seem like they will remain flat due to oversea trades remaining quiet and seller pressure starting to increase. Comments out of Crop Production last week was that red supply will be long going into next year, acres will likely decrease and at this point, India is likely to have average crops. Too many unknowns to swing the markets either way at this point. Lots of talk that large green acres will increase due to the higher return compared to reds, small greens acres will likely remain the same or slightly increased due to price as well compared to reds.


Canola futures finished the day only slightly positive. March closed $0.40/MT up at $489.70/MT, with May only $0.10/MT higher $497.10/MT. There were little supportive factors today and conversely, little discouraging factors for the commodity. Despite the Canadian dollar dipping lower earlier in the trading session, it managed to rally back ending higher. A little bit of support came from marginal gains in soybean markets. Bids today continue relatively flat at roughly $10.50/bu FOB farm. This value is taking into consideration an estimated $25/MT basis & freight number. Please call in with any targets you may have or if you’d like to sign up basis contracts.


The feed wheat market has been under a bit of pressure this week with values in certain areas slipping slightly. Bids for feed wheat in good freight areas may still see $5.00/bu picked up on farm, but not as easy of a trade this past week. The milling spring wheat market is currently hovering around $6.65-6.85/bu delivered plant for #1, 13.5 protein in certain areas. Durum has suffered as of late with bids dropping to 7.00-7.75/bu picked up on farm greatly depending on location and quality. Growers still sitting on feed wheat should look at getting some sales on the books as delivery windows will continue to get pushed further out and likely won’t see any price increases for later delivery. Growers with high protein wheat can likely find some premiums to take advantage of and should call the office to discuss details to see if anything is able to be done.


Mustard has been busy after the Crop Production show in Saskatoon last week. New crop contracting, old crop contracting along with seed ordering has been steady this week. Mustard continues to be a strong new crop option, and pencils in very well considering returns this year. There was a lot of interest and inquiries last week at the show. New crop bids remain at 33-35 cents/lb on oriental, 35-36 cents/lb on brown, and 38 cents/lb on yellow. All new crop contracts are picked up in your yard and include an Act of God. Spot prices remain fairly strong, with brown trading at 44-46 cents/lb, yellow at 41-42 cents/lb, and oriental at 32-34 cents/lb. All the spot prices are picked up in your yard and can be moved fairly quickly in certain cases. If you are looking for any seed, we have certified yellow and oriental, with some common brown available at very good values with convenient delivery to your yard. This seed can also be treated with a dual treatment. Call your merchant for more details.


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.

Rayglen Market Comments

Market comments will be published January 12 due to the Western Canadian Crop Production Show, please look for it then.  Thanks for your patience.

Please contact our office if you have any questions.

Rayglen Market Comments – December 27, 2017

As expected, no changes this week from last on most commodities. There are still some opportunities in peas and feed grains as well as new crop, but most is quiet. Many in the trade have taken this week off, while a lot have went to no bid until the New Year. Due to this, we will resume regular market comments the first week of January. If you are looking for specific prices during the holidays we do have staff available to take your call or email, please feel free to contact us.

Wishing everyone a safe, warm week, and a happy New Year!

Rayglen Market Comments – December 6, 2017

Feed wheat prices remain unchanged the past few weeks, with most areas of the province at $4.75/bu picked up in the yard. Let your merchant know your exact grain location as certain spots are able to reach $5.00/bu picked up due to freight advantages. Most buyers are not too concerned with the vomitoxin numbers on the 2017 crop, but those questions will arise for anyone looking to sell the remaining 2016 crop in the bin. For product with vomi, the market is a little lower, but still better than last year with the glut that was available. $4.00/bu or a bit better at the yard is attainable on a max 10ppm product. We still have durum bids in the far south east Sask at or close to $8.25/bu picked up for late winter/early spring delivery on a #1 with 13.5% protein. Red Spring bids are a little tougher to find these days, but for #1 quality with good protein we may be able to track down a bit of interest, so touch base with your broker.


It has been another consecutive week where canaryseed has done absolutely nothing. Prices are still sitting around 20c/lb FOB farm, but expected as seasonal patterns and trends throughout October and November are realized. Firmness in the market is usually seen in late February. As per Stats Canada, the average yield for 2016 was 20 bushels per acre, this this past year is sitting around 24 bushels per acre. Production differences are not likely enough to impact prices. 2017 production was estimated to be around 142,000MT, which is only down roughly 2,000MT from 2016.


The pea market saw a few more trades this past week when green peas hit $8.50/bu delivered. Today, green peas are sitting at $8.25/bu delivered. Yellow peas are seeing values of $6.50/bu delivered. If you are in the south east $7.25/bu picked up is available on yellow peas; which is a huge price in today’s pea market. With India’s demand being limited, new export options are being sought out. China is on pace for record export levels due to the Indian blockade. Long-term however, this won’t be as helpful as China’s inventories will be built up and 2018 exports will need to be low. Reading through a stat report, the rumored tariff on desi chickpeas could provide some support for the pea markets, but it is quite unclear on what the impact will be.


The brown flax market hasn’t seen much change this past week for either milling or #1 quality. Stat Can released their November production estimates today pegging flax at 548,000MT, which is down from 2016 production at 588,000MT. This is a 6.8% reduction from the previous growing year. Milling values are still trading at $12.50/bu picked up on farm for Jan/March movement. There are some buyers that may entertain a slight premium for later delivery depending on location. #1 quality brown flax carries 25-50 cent/bu discount for similar delivery. Yellow flax hasn’t seen allot of demand as of late from buyers, but growers looking to move product should consider some targets and see what interest can be generated. Growers with poor quality yellow flax can find homes into similar markets as #1 brown flax. New crop business hasn’t really been done on flax so far, but there are a few buyers that are starting to show interest in getting some acres on the books for next year. Growers should keep in touch with their merchant.


The chickpea market is holding steady with old crop values floating around 60c/lb on a #2 quality if they are sizing up. With the relatively poor yield in 2017 and producers barely able to fill contracts, there is not a lot left out there for seed. This has translated into a higher amount of inquiries on seed this year, paired with the very attractive bids on old and new crop. With the StatsCan report out today, it shows a 28.7% decrease in yield in 2017 from 2016, which is the reason we have such a high demand for chickpea seed. Bids on new crop values for the large type variety are 38c/lb, fob farm, with an Act of God on a #2 quality. We also have a bit of seed available, so call your merchant if you are interested.


The feed barley market is strong this week with corn trading a bit higher than previous weeks. With corn starting to move up in price, we are seeing our feed barley prices creep up as well. Feed buyers are starting to fill up for December movement on big lots, but may have some room for a few loads. Bids out there right now are around $4.00/bu FOB farm for a lot of areas, with movement from January-March. Offers are a great way to show buyers what you have, and to hit a high in the market so make sure you are talking to your merchant on that.


We have seen some action in red lentils, a small jump, but none the less buyers have shown interest at 17.5¢ to 18¢/lb FOB in the right location.  Green lentils remain slow again this week with only a few companies showing buying interest. The 2017 StatsCan Production report came out this morning showing lentils down in acres from 2016 and up in yield slightly from 2016.  Based on the Stats Can breakdown, large green lentil production is 485,200MT, which is the third highest production in the last 5 years. Reds were the third highest year of production in the last five as well.  Other numbers that stand out from this morning is the carry in number of 405,000M. A reduction of exports for August-September shipping has been just about cut in half with at 379, 102 MT shipped. 2016 shipments totaled 743,469 for the same period. Based on this information carry out would be around 650,000MT. Things to watch over the next week is how the markets react to these numbers as well as the weather reports and condition of unharvested lentils in Australia.


Soybean futures settled down a little today after a recent run up driven by dry planting conditions in Argentina. Soybean planting in Brazil is 92% complete with Argentina at 42.5% and running about 3-4% behind last year this time. Some meteorologists are forecasting than even though La Nina could weaken towards the end of the month, it could strengthen a bit later and hang around longer. Keep in mind these are “weather forecasts”, but if accurate this would threaten world supplies of beans. The recent dip in the CAD, caused by the Bank of Canada holding interest rates, has had a positive impact on local basis and is propping up bids. Local soybean bids are $11.00/bu FOB farm range. Local faba bean bids are in the $6.00/bu range for feed and the faba export market has all but disappeared for now.


Oats continue their steady sideways trend as the holiday season approaches. We are still finding #2 CW bids to be around the $2.50/bu picked up in the yard mark. This price is dependent on location and strengthens the further south the oats are located. Feed oats still have decent demand with indications close to $2.25/bu picked up in your yard. We have buyers willing to look at off spec, heated, and light feed oats as well, so give your merchant or the office a call to find a price in your area.


The mustard market continues strong in December. New crop mustard trading has been brisk. Stats Can has rolled out their mustard acreage estimate around 550,000 acres up considerably from last year. If you are considering mustard as a new crop option, the prices and contracts are very attractive with 32 to 34 cents on Oriental, 35 to 37 cents on brown, and 38 to 40 cents on yellow. Contracts include an Act of God and are priced based FOB your farm. Spot prices are basically around the highs of the year, and trading has been steady. The spot prices for yellow and brown continue to lead the way for bids right now, with buyers showing interest at 43-44 cents per pound picked up in the yard for movement in the new year. Oriental sits with bids at 32 to 34 cent range depending on variety. We have seed available delivered to your yard also, call your merchant for details. This seed can also be treated.


Canola markets started the day off shaky with the release of Stats Can production report. They pegged this year’s crop at a whopping 21.3MMT, setting a new record over last years crop of 19.6MMT. Luckily for the commodity, the Canadian dollar took a half cent drop, on news of the Bank of Canada holding interest rates. This helped control and limit losses to a modest $1.70-2.00/MT. Bids remain relatively unchanged, with January futures sitting at $508.00/MT and basis levels still ranging between $15/MT & $25/MT under. This puts bids delivered to plant at roughly $11.20/bu.


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.

Agri-Trade 2017 Red Deer

Rayglen Market Comments – October 18, 2017

No change this week in the feed wheat market. Low vomi feed wheat trades today around $4.75/bu picked up in the yard in most areas of the prairies assuming it is under 1 PPM Vomitoxin, heavy and dry. In certain areas, that price may be able to get closer to $5.00/bu when put out on firm offer so be sure to keep in contact with your merchant on what values you are looking for. For feed wheat that is over 1 PPM Vomitoxin, the price will be around $4.00/bu picked up depending on location. We are still seeing some stronger opportunities for durum in the South-East corner of Saskatchewan. $7.75/bu picked up will work depending on location based on a #1 US durum spec with a discount schedule to be applied. If you have any interest ask your merchant to discuss the discount schedule and price in your area.

We have seen a slight bump in flax prices this week with some bids at $12.25/bu delivered to plant on a #1 quality.  We are also seeing up to $12.50/bu picked up on milling quality for a later movement. US and European prices have moved up over the last couple of weeks, however Russia and Kazakhstan are sitting on comfortable supplies, so these increases could be short term. Once Chinese demand firms up, we could see more strength in the Canadian prices. The yellow flax market has been quiet with prices indicated at $14.50 delivered and not much for buying interest. For those with off quality/ spring thrashed flax left on farm, we still have options for that.  Call your Rayglen merchant to discuss.

Lentils had another week of price softness on all varieties. Markets look bearish for the near future as trades slow and buyers remain hesitant to stick their necks out and become a price leader. With India expecting to export lentils, imports should slow down for the short term, which does not encourage price improvement. Large green lentils, according to our buyers, are fighting pigeon pea and the differential in value of other sources of food. Based on today’s information, Australian crops are going to be decent and India has potential for another large pulse crop. This does not hold well for pricing going into the new year. If for some reason these situations change for the worse, we may see some price stabilization if not a slight increase. The next real price influencing factors will be: North American moisture levels going into seeding, number of seeded acres in western Canada and 2017 carry over. Large carry out from ‘17, combined with good moisture and average seeded acres in ’18 would limit late spring/ summer time rallies. If we see improved export numbers to decrease carry out and low moisture with decreased acres then things likely improve, but any other combination is expected to change much. Prices of old crop large green #2 lentils are still profitable at the 34¢/lbs to 36¢/lb range. Reds at $0.20/lb are getting closer to most farmers break even points, but are still profitable on normal yields. If you haven’t sold any lentils, it may be a good time to sit down and run the numbers and lock in a profit before we see continued price weakness.

The chickpea market is starting to get a little more quiet in recent weeks as many buyers have tapered off the aggressive push for product and seem to be trading a little more hand to mouth. On large kabulis bids still hover around 65-70 cents at the yard for #2 quality depending on sizing. These bids are still a great opportunity to finish the 2017 crop sales if you have not yet sold your production. Desi chickpeas are currently bid around 30 cents per lb picked up in the yard for the handful of growers that are still dabbling in desi crops. We do have fall 2018 pricing on kabulis available at 43 cent range for #2 quality if you have your seed and plan to grow kabulis.

The mustard market continues sideways this week, but at relatively strong prices on both brown and yellow.  #1 yellow and brown mustard are both trading at $0.40/lb picked up in the yard, while oriental mustard is at $0.32-0.34/lb picked up in the yard. Movement is mostly in the new year, but if you need movement quicker, limited tonnage may be available for faster delivery at those levels.  We do have options at slightly lower values for quicker movement as well if you are needing bin space or cash flow. It’s never too early to start thinking about next year, so be sure to give us a call to discuss seed and 2018 new crop contracts. We have treated seed available, delivered to your yard.

Yellow pea bids were looking a little more favorable this week. We had pricing come up to $8.25-8.00/bu delivered to multiple plants with $8.00 FOB still attainable in the Southeast corner of Saskatchewan. Reading through a stat report, we still haven’t seen a resolution for the Indian fumigation issue. However, this shouldn’t halt the importing of Canadian peas, it will just keep pricing under pressure. What is keeping pricing at bay is the competition we are seeing. Russia, Ukraine and Europe are still moving peas into India at more favorable values. India also has a comfortable amount of their own desi chickpeas and peas. It is expected that yellow peas will remain sideways for the year and green peas should show some strength later into 2017-2018.

Feed barley this week has pulled back with bids starting to feel pressure as feedlots increasing their corn rations. With an over supply and low prices, corn is taking the place of thousands of tonnes of barley, so until we see corn markets rally our barley prices will continue to be depressed. Bids today are around $3.50/bu FOB farm in most areas. We aren’t seeing anything for quick movement malt, but we are indicating $4.25 picked up in certain areas for Oct- July 2018 movement on Copeland/ Metcalfe, and 6 row varieties.

The oat market has continued its sideways trend over the past week, although there has been renewed interest in some feed oats. We have seen buyer interest in some lower quality feed oats with pricing ranging from $1.75-$2.00/bu picked up in the yard for January movement. This price likely works for light, heated and slightly high moisture oats. Value increases as we move south and east of Regina. Milling oats remain around $2.50/bu picked up in the yard out of South West Saskatchewan, with slightly lower bids the further north you go.

Canola futures dipped slightly lower today following soybeans and a stronger currency. The Canadian dollar moved half a cent in the positive direction making canola less attractive to foreign buyers. Soybean markets also had marginal losses today, pulling canola down with it. Basis levels remain attractive though, right around -$15/MT delivered to plant. After November’s $1.00/MT loss, the future value sits at $498.20/MT. January futures are slightly better coming in over $500/MT. Bids today work back to roughly $11.00/bu delivered or $10.50FOB in West-central Saskatchewan.  Contact your broker for more information and firm bids FOB your farm.

Harvest has been completed for much of the prairies and the last few canary acres are getting wrapped up as well. As of last Friday, 94% of canaryseed was reported to be in the bin. The estimated yield has bumped up too, from 22bu per acre to around 26bu per acre, as yields weren’t quite as bad as farmers originally thought. The estimated tonnage is around 130,000 to 135,000, which is an estimated 15,000MT over earlier Statscan estimates. It will also bump supplies to 215,000 tonnes total.  Canaryseed has been trading around 20.5c/lb FOB the farm.  If you are looking for current and most up to date pricing, please call your Rayglen merchant.

Soybean futures rallied 28 cents in response to the latest USDA report, in which the estimated soybean 17/18 ending stocks were shaved from 475 million bushels to 430 million bushels vs 301 million bushels for 16/17. Keep in mind that this rally occurred on the doorstep of an estimated record high US soybean harvest of 4.43 billion bushels. Since Friday the market has back-pedaled about 20 cents but still remains 20 cents above Thursdays pre-report open. The next big soybean production story is Brazil (planting now), and early estimates for the March 2018 harvest is 3.93 billion bushels. Current Brazilian planting conditions are dry, providing a bullish tone to global soybeans considering the forecasted razor thin 90 million bushel Brazilian 17/18 ending stocks. Local soybean bids are $10.50/bu FOB farm range. Faba bean average yields appear to be 33-35 BPA once northern growing areas are factored in. Recent protein fractionation facility announcements should offer additional future markets for fabas. Local faba bean bids are in the $6.00-$6.20/bu FOB farm 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.

Rayglen Market Comments – October 11, 2017

The weather has cooperated for the most part this harvest season. Much of the combining is now complete or soon to be, with barley acres sitting around 92% harvested as of last Friday.  Barley bids have bumped up a bit and have been trading around $3.65/bu FOB the farm for a good quality. This is based on max 10 ppm vomi and November delivery in many areas of the province. Selling into the feed market is another alternative for your malt quality with no quality risk. There might be an opportunity for a bit better price with movement into the new year. This year malt the quality has been very good and which is reflected in the current price with many buyers posting around $4.00 /bu delivered to plant.  Even with the current stagnant market situation for malt, buyers are still wanting to see samples just in case this market turns around and prices pick back up.

The feed wheat market continues in a sideways pattern for now. It has been consistently trading around $4.50 to $4.75/bu FOB the farm for the majority of the prairies. Values in certain areas depending on freight could be around $4.90. Offers at $5 FOB could be attempted, but recently nothing at those values have traded. These values are based on vomitoxin levels under 1 ppm, 58lb bushel weight and dry. If your feed wheat is coming in over 1 ppm to a max of 10, it will likely trade around $4.00/bu FOB the farm. What we suggest doing, if you are unclear on your vomi levels, is to go and get a professional grade on them at SGS. It is important even this year to have that number. Today we have still had some buyers indicating $6.50-$6.75/bu delivered for good milling wheat, pending movement period. Call your merchant for more information.

Chickpea markets are sitting sideways this week with prices ranging from 68-70c/lb picked up in the yard.  This is for across the board pricing.  There are a few opportunities for those who just have 9 & 10mm at 72c/lb delivered. Yield is variable according to reports, but prices are still being driven by tight supplies globally. There are still some uncertainties of the size of the US crop along with Australia’s chickpea crop on desis and kabulis. Overseas buyers want to get their hands-on supplies and once these overseas crops start coming off it just means more supply into the market. This leaves an uncertainty where these chickpea prices are headed, as we are at record highs right now. There has been some attractive new crop pricing for 2018 already in the mid 40c/lb range.  If these kinds of prices are attractive for North America growers, then they will also influence farmers in Russia, Argentina and elsewhere. Buyers don’t seem concerned about over supply for 2018, so the question remains how long these high prices will last and the kind of risk left on the table if the product sits in a bin.

The lentil market hasn’t seen a lot of change over the week. Pricing has continued to sag as demand seems to be limited. Right now, red lentils are trading at 20.5-21 cents/lb for a #2 and large green lentils still have limited openings at 38 cents on a #2.  As per a stat report, compared to last year, deliveries are behind due to the crop being smaller and India’s purchasing isn’t quite what it was. Turkey and India have both lowered their prices, so there aren’t many signals indicating that pricing will bounce up. For seed options, we have both certified and common varieties available on red and green lentils. Speak with your merchant if you are looking to update your seed.

Oats this week are very similar to last week. We aren’t seeing any jumps in the market and that could be due to harvest pressure and over supply. Yield numbers have been very good this year and supply from last year is keeping the prices down. We are seeing $2.00/bu on feed quality oats that are dry and indications around $2.50/bu FOB farm on a milling quality oats. Offers will be key in this market to hit the highs so make sure you’re talking with your merchants on that.

Most of the canary seed crop should be starting to wrap up here in the next week or so. Canary yields have been fairly average this year from what we have been hearing. Harvest started off with prime weather in the main growing areas, but soon changed to cool and wet, which slowed lots of the harvest down. For the most part, the weather has changed and farmers should be able to pull all the crop off before the snow flies. Prices are stable with indications around 20-21c/lb FOB farm. Canary seed supplies have kept the market stable in the last while so make sure you are keeping on top of prices with your merchant.

The mustard market remains in the same trading range as the past couple of weeks with prices for all mustards holding relatively strong. #1 yellow mustard and #1 brown mustard are both trading at $0.40/lb picked up in the yard, while oriental mustard is at $0.34/lb picked up in the yard. All of these prices are for a Feb/March movement period as buyers are paying a premium for the later movement. We do have options at slightly lower values for quicker movement if you are needing bin space or cash flow. It’s never too early to start thinking about next year, so be sure to give us a call to discuss seed and 2018 new crop contracts.

Another stable week in pea markets with little change in pricing.  At this point, oversea trade on yellow peas seem to remain quiet, but North American trade seems to be a little stronger especially for those markets where the peas are being used in value added processing. For growers close to the American border we have been able to take advantage of $8.00 FOB farm bids.  In other areas of the province prices are trading closer to the $7.25 FOB farm. Green peas saw a little bit of increase to $8.75/bu delivered this past week, but that was short lived once orders were filled. Prices have now settled back at $8.50/bu delivered.  What is interesting is that over the last week, several buyers are interested in purchasing Patrick and Pluto varieties at the same price as the larger varieties of peas. It has been a couple of years since we’ve seen buyers show a real interest in purchasing this size of pea. If you’re sitting on any this, it may be a good time to get some sold.

We are starting to hear flax yields roll in from different parts of the province with a wide range of numbers. Some have been reported as low 5 bushel/acre and as high as 30; overall, early numbers would suggest an average closer to 15 bushels an acre for the province.  This year seems to be producing higher quality compared to last, with nicer colour and better weight.  Only concern that growers seem to have is getting the green damage to cure as the flax just doesn’t want to completely mature. On the marketing side of things, price remains flat. Milling quality flax is still trading at $12.00/bu FOB farm and #1 flax is sitting at $11.85/bu Delivered to plant with some areas seeing as high as $12.00 delivered.

Soybean harvest pace in the US was recently reported at more than one-third complete, however it lags behind average. Tuesday’s USDA crop progress report pegged soybean harvest was 36% complete, which is behind the average of 43%. Harvest pace and technical selling have created a short-term ceiling on November soybean futures with recent technical selling occurring at the $9.75 level. Brazil is currently planting their next cycle of soybeans in key states of Parana and Mato Grosso. Average trade estimates for Thursday’s WASDE report expect soybean yields to be unchanged from the September report at 49.9 bu/acre and production will be slightly increased at 4,437 million bu. Local soybean bids are in the $10.25-$10.35/bu FOB farm range. Faba bean harvest reports have early indications of 30 bpa production levels. Average yields are expected to increase in the northern areas that received more precipitation. Local faba bean bids are in the $6.00-$6.20/bu FOB farm range.

Canola futures were depressed today as we wait for tomorrow’s USDA report. Most in the industry believe that the US soybean yields and ultimately production will be higher, which weighed on November, January and March futures. November ended its trading session at $493.50/MT, down $1.70/MT. This puts FOB farm bids at roughly $10.50/bu in the Kindersley/ Rosetown areas after a negative $30/MT basis. Tomorrow’s report should set the tone for soybeans and canola values for next few months. Please call with location for firm values FOB your yard or to throw out a firm offer.

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.

Rayglen Market Comments – October 4, 2017

There was a little bit of excitement in pea pricing this week. We had green peas come up to $8.75/bu delivered into certain locations, while yellow have been trading between $7.50-8.00/bu FOB. It is not expected that these prices will hold for very long. Yellow peas are arriving in India from Europe and FSU countries, which is weighing more heavily on prices there, as per a Stat report. With these peas hitting the market, it is hard to say whether India’s prices will keep moving down or not. On the other hand, Canadian and US supplies will be smaller this year, which may offset this. Looking later into the marketing year, specifically for yellow peas, pricing will depend on India’s planting of peas and desi chickpeas. Their pricing may not encourage farmers to plant more peas, but chickpea pricing is still relatively strong. Therefore, if prices strengthen into 2018, it may be modest (weather dependent of course).

About 66% of the Canary seed crop is off as of last Friday. The hot dry weather we had been seeing is slowly fading as fall temperatures and rain roll in. This has delayed many producers in prime canary growing areas for the past few days, but most aren’t worried about getting the rest of the crop in the bin. This coming week looks to provide some decent weather to wrap up canary harvest for the most part.  Prices have been very firm at around 20-21c/lb FOB the farm, as supplies seem to match demand at this point. This has kept the canary market flat and uneventful for the last few weeks. Most buyers are quoting fairly prompt movement on that.

The feed wheat market across the prairies is showing slightly depressed values compared to a month ago, but still relatively strong. It has been consistently trading around $4.50 to $4.75/bu FOB the farm for the majority of the prairies. These values are based on vomitoxin levels under 1 ppm, 58lb bushel weight and dry. If your feed wheat is coming in over 1 ppm to a max of 10, it will likely trade\ around $4.00/bu FOB the farm. What we suggest doing, if you are unclear on your vomi levels, is to go and get a professional grade on them at SGS. As for milling wheat, values have slipped slightly after Fridays release of the USDA report, which increased stocks. Today we still have some buyers indicating $6.50-$6.75/bu delivered, pending movement period. Call your merchant for more information.

The chickpea markets have been a little quieter this week; not quiet in the sense that the market is slipping, but quiet in the sense that the lion’s share of the product has been contracted and things are much harder to find. For those still holding product, bids are still hovering up near 68-70 cents a pound for a #2 quality large kabuli with across the board pricing and picked up in your yard. This is still a huge number and a great opportunity to take advantage of and solve one marketing issue for the year. Many of you will recall that the chickpea markets can be fickle and when bids dry up they can be a tough product to find a home for. If you have your seed needs set up for next year, there has been some new crop contracting in the mid forty range; an excellent price to start 2018 crop marketing. Desi chickpeas have popped up once or twice this week and bids are around 30 cents per pound or slightly better.

While flax prices remain sideways over the last couple of weeks, we could see a bump in prices later in 2017/2018. For now, we are still seeing $12.00/bu picked up for milling quality, while #1 flax is indicated at $11.85 delivered. US flax prices have come up, confirming a smaller crop. European prices moved up slightly, but analysts writing this suggest it could just be a short-term bump due to Russia and Kazakhstan sitting on comfortable supplies. The gap in prices between Europe and Saskatchewan is still too narrow to see fresh trades. While it is too early to have concern, Canadian harvest of flax is behind average. However, once Chinese and US demand firms up, Canadian prices will start to see some strength.

Soybean futures reacted positively to Fridays USDA report and shot up 17 cents from the open. The report was generally friendly for soybean prices with Sept 1st stocks pegged near or below trade expectations. Although soybean stocks are up 53% year over year, they were reported at about 301 million bushels, which was 37 million bushels light of the average pre-report trade guess of 338 million bushels. New crop shipments to China are expected to be delayed a few weeks as exporters search for both quality and quantity due to recent US hurricane damage. China buys 65% of the soybeans that are traded worldwide and they are adequately supplied with recent Brazilian purchases. US soybean harvest was at 22% complete as of Sunday versus 24% this time last year. Local soybean bids are in the $10.00/bu FOB farm range. Old crop faba bean supplies continue to dwindle and for many new crop harvest is just underway. Local faba bean bids are in the $6.00-$6.20/bu FOB farm range.

Barley this week is very similar to last. With corn being a great substitute for barley right now, due to large supplies and cheaper values, we are seeing barley fairly stable. Pricing for Oct/Nov is around $3.50/bu while further out delivery has seen up to $3.75/bu FOB farm depending on freight. On the malt side of things, we are seeing good results coming back with malt samples being accepted. We haven’t been hearing too many attractive bids out there right now. With similar prices for feed and malt barley, some producers have been dumping their malt barley in the feed market to minimize risk of malt coming out of spec. Our malt buyers do want to see samples of product still, so make sure you are getting those to your merchants.

Lentils are having another quiet week with pricing pretty much the same as last.  Buyers are showing some interest in purchasing red lentils at 21-21.5¢/lb FOB farm. Large greens are still trading at 38-39¢/lb for #2 & x2. Small green lentil trades have slowed down, but buyers are offering 32-34¢ on a number #2 and #1 grades.  With lower pricing on spot product, we are starting to have customers order the seed for the upcoming growing season.  We have good supply of certified reds, and limited amount of small green seed.  All seed contracts can have a delivered option add to them if needed.

The oat market is relatively unchanged the past few weeks with strong yields coming in from Manitoba. We are still seeing feed oats around $2.00/bu picked up in the yard depending on location. As for milling oats, bids seem to be spotty with the best prices popping up in southwest Saskatchewan, around $2.50/bu picked up in the yard. Be sure to let us know what you have in case the market takes a quick jump.

Mustard prices have stayed in the same range this week. Strong prices have been the norm after harvest as yields were down in many areas and final reports come in. There have been some great pricing opportunities on mustard especially in the January to February time frame. Brown and yellow mustard are leading the pack with bids now reaching 40 cents/lb for winter movement. Oriental is sitting around 34 cents/lb depending on variety. Quicker movement times are available at slightly reduced prices as well for those who need the bin space and cash flow. We will have certified mustard seed with treatment available again this year. It might be best to secure seed supplies soon as yields, for the most part, are down. Call the office for details on that, as well as any mustard offers on 2018 crop with Act of God.

Canola markets are up slightly today following soybean markets. Over the past few weeks prairie farmers have seen some cool, wet weather with reports of 1-4” of rain. For the most part, these weather events are welcomed as the soil needs to be replenished to grow a crop next year. It has though, in turn, stalled harvest progress in many areas, which is helping to support canola markets. That being said, other than northern areas, most producers have wrapped things up. Today bids sit in the $10.80/bu delivered range after a $0.30/MT bump to $493.40/MT on the November.

Rayglen Commodities 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.

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