Grain News

Chickpea markets remain relatively quiet this week, with little movement in either old or new crop values. Old crop bids continue to range from $0.25–$0.27/lb FOB farm, depending on chickpea size and quality. Even at these levels, buyers are not aggressively pursuing supplies and appear content to wait for the 2026 crop rather than raise bids to secure old crop tonnage. New crop values are generally in line with old crop pricing, with most contracts including an Act of God clause. There are a few buyers willing to pay one to two cents more, although these are typically offered as deferred delivery contracts (no AOG). Locking in some new crop sales may be a good way to create bin space and secure earlier movement. If weather conditions cooperate this growing season, there may be very little demand for 2025 crop, particularly given the mixed quality and ongoing grading issues seen in last year’s production.

Quality and size of this year’s lentil crop are still up for debate, with some areas performing well while others continue to struggle. One of the bigger stories, however, remains the shortfall in India’s monsoon rainfall. Local prices there have yet to respond, but if India and Australia both experience reduced production due to dry conditions, the impact is expected to be more supportive for red lentils than green lentils. Current bids reflect the typical seasonal slowdown, with #2 red lentils at $0.21–$0.225/lb FOB farm, #2 large greens at $0.22–$0.23/lb FOB farm, and #1 small greens at $0.17/lb FOB farm. We still have some August movement opportunities available for those looking to clean out a bin or two before harvest, and there continues to be buyer interest in lower-grade large green lentils if you still have some on farm.

We haven’t heard much news about the oat market over the past week. Buyers appear comfortable at current price levels, and the market continues to trade sideways. The story remains largely unchanged: carryover stocks are still substantial, and although seeded acres are down, crop conditions are generally looking good. There are some production concerns in northeastern Saskatchewan, but not enough at this point to significantly influence the market, especially when factoring in a large carryout. Current bids are sitting in the $3.50–$3.75/bu delivered range for milling oats with nearby movement, while slightly stronger values are available for later delivery. If you’re looking for a FOB farm bid, posting a firm offer with us may be a good way to attract buyer interest.

Mustard prices have softened slightly over the past couple of weeks as harvest approaches. Crop conditions have generally been reported as favourable across key mustard-growing regions of the Prairies, with analysts expecting above-average yields, and prices have adjusted accordingly. Although yellow mustard acres are down from last year, bids have eased slightly and are currently around $0.37/lb picked up on farm. Oriental and brown mustard acres have increased, with current bids around $0.37/lb and $0.35/lb, respectively. Old crop values have now largely merged with new crop pricing, although there are still a few limited opportunities to move old crop over the next month. Demand for brown mustard in Europe has remained quiet, which could result in continued volatility in both pricing and shipping of those varieties.

Canola futures remain under pressure, with the November contract trading below the key C$800/tonne level after breaking technical support earlier this week. Heat warnings across much of the southern Canadian Prairies have provided some underlying support, but improving weather for U.S. soybean crops continues to weigh on the soy complex and spill over into canola. As harvest approaches, seasonal pressure is beginning to build. While Statistics Canada estimated canola seeded area at 23.442 million acres, yield uncertainty remains across several key Saskatchewan growing regions. August weather will be critical in determining final production, and beginning stocks may prove to be tighter than current estimates suggest. Strong domestic crush demand also continues to underpin the market. Traders are also monitoring tensions in the Middle East, where any disruption to oil shipments could support crude oil, vegetable oils, and ultimately canola prices. At the time of writing, the November canola contract was trading at C$773.50/tonne. A modestly stronger Canadian dollar added another headwind for canola futures.

Flax markets have cooled somewhat as spot buying has dried up and new crop interest remains difficult to find. Most current bids are ranging from $15.00–$16.00/bu for both old and new crop, with the occasional stronger opportunity appearing from time to time. Recent hot and dry weather during flowering may begin to impact crop conditions, although good subsoil moisture could still carry many areas through the remainder of the growing season. Production is expected to be lower than last year’s due to a return to more average yields, but carryover stocks remain comfortable, keeping the market well supplied. Kazakhstan continues to be a major supplier, and Chinese warehouse inventories remain full, so significant price movement is unlikely unless an unexpected market catalyst emerges.

Old and new crop canaryseed prices have largely aligned at $0.18/lb FOB farm, with delivery windows now shifting into August and September as nearby demand has mostly been filled. Buyers continue to show interest at current price levels, but overall demand lacks depth, limiting any upside potential. Current buying appears to be driven primarily by short-term coverage rather than aggressive forward purchasing. As a result, the market remains vulnerable to volume limits, as demand could fade quickly once buyers have covered their immediate needs. Without stronger export demand, a new production concern, or another fresh market catalyst, canaryseed prices may remain stagnant for some time.

Barley markets remain stable for another week as harvest begins across parts of Canada and the United States. With bin space becoming a growing concern, many producers are opting for off-combine pricing rather than storing cereal crops. Current old and new crop bids range from approximately $5.30/bu FOB farm in Alberta to around $4.85/bu FOB farm in Saskatchewan. We’ve also received more inquiries regarding light barley and bushel weight discounts as forecasts call for additional heat that could impact grain quality just ahead of harvest. Malt barley markets continue to be very quiet, with little urgency from buyers. For now, firm offers remain the best marketing approach. Give your merchant a call for more information.

Soybean prices moved lower overnight as improving weather forecasts across the U.S. Midwest arrived just ahead of the critical August pod-fill period. Weaker technical signals also triggered additional fund selling, offsetting support from firmer crude oil prices and slightly lower U.S. crop ratings. Adding further pressure is Brazil’s record soybean harvest, with export estimates increased to 115.4 million tonnes, strengthening global competition despite tighter projected Brazilian ending stocks. Local soybean bids are currently ranging from $13.00–$13.50/bu FOB farm. Dry bean crops in both Canada and the United States are generally looking strong, but a significant reduction in seeded acres is expected to tighten supplies and support black and pinto bean prices heading into harvest. Canadian faba bean production is projected to decline by another 23% due to reduced acreage. However, abundant Australian supplies continue to keep global prices in check, despite stronger-than-normal Canadian exports. Current bids remain around $8.00/bu for #2 export-quality faba beans and approximately $7.50/bu FOB farm for feed-grade product.

The pea market continues to be sluggish. With harvest right around the corner, buyers are more focused on pricing new crop than old crop supplies. New crop yellow peas are slow to trade, and we suggest growers use firm targets to try and capture a sale, while green peas are indicated around $9.00/bu delivered. Recent weather has shifted production concerns from disease pressure to excessive heat, both of which have the potential to reduce yields. Combined with lower seeded acres this year, overall pea supplies could decline significantly compared to last year. However, the sizeable carryover continues to limit any meaningful price strength. The market is likely to remain soft until harvest begins and the industry has a clearer picture of actual yields and quality.

Black Sea tensions continue to influence wheat markets after Russian missiles reportedly sank a Ukrainian grain vessel this past weekend. With efforts underway to establish alternative trade routes and shipping restrictions still affecting traffic, reports suggest export capacity out of the Black Sea region has begun to decline. Closer to home, Canada finished the 2025/26 export year on a strong note, with wheat exports up 3% year over year and durum exports down only 1%. Canadian wheat crops continue to mature well, with harvest beginning in some areas. Market participants will be watching closely to see whether ongoing Black Sea disruptions create additional export opportunities for Canadian wheat during the new crop year. Current bids include most wheat classes at $8.00/bu delivered in Northwest Saskatchewan for August movement and $7.65–$7.80/bu delivered for October-November. In Central Saskatchewan, CPSR is trading around $7.20/bu delivered for October-November, CWRS around $7.70/bu delivered, and soft white wheat near $7.75/bu delivered for November-December movement. Durum is currently quoted around $7.50/bu FOB farm in southeast Saskatchewan, with carry opportunities pushing values above $8.00/bu into the first half of 2027. Feed wheat continues to trade between $6.00–$7.00/bu FOB farm, while heated and lower-quality feed grains are still finding homes ahead of harvest.

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.

Canola futures continue to trade firmly above the $800/MT mark, supported by a strong weather premium as hot, dry conditions across the Canadian Prairies raise concerns about crop yield potential. November futures have been hovering in the $820/MT range Wednesday morning, despite some minor profit-taking during the week. Weather remains the primary driver of the market, with forecasts calling for continued heat and limited moisture across much of Western Canada, increasing uncertainty around production. Additional support is coming from higher crude oil prices, tightening global vegetable oil supplies, and strength in competing oilseed markets such as Chicago soybeans and European rapeseed. On the supply side, Agriculture and Agri-Food Canada (AAFC) recently increased its 2026-27 canola production forecast to 21 million tonnes, along with a higher projected carryout. Even so, strong domestic crush demand continues to provide underlying support, with Canadian processing capacity expected to reach approximately 15 million tonnes, driven by demand from both the food industry and the renewable fuels sector. Export demand also remains healthy, with the United States continuing to be the largest buyer of Canadian canola oil and meal, while China, Japan, and Mexico remain key export destinations for canola seed.

Barley markets continue to show values that remain attractive and worth considering as we near the end of July. While old crop bids have started to soften slightly, bids above $5.00/bu FOB farm are still attainable in many areas. As harvest draws closer, we expect old and new crop values to begin converging closer to the $4.85-$5.00/bu mark. There are still a small group of buyers offering new crop contracts with an Act of God clause, although those opportunities are gradually becoming less common as expectations for above-average yields continue to build. For producers looking to secure movement and manage some production risk, these values pencil in well for fall shipping. On the malt side, the market remains extremely quiet. Maltsters have shown little interest in actively pursuing tonnage, and while some may consider contracting limited volumes, there is very little urgency in the marketplace.

Chickpea markets were relatively quiet this week, with most of the focus remaining on weather conditions. Crops across Canada, the U.S., and Australia are generally progressing well, although producers continue to monitor disease pressure and hope for favourable conditions through the remainder of the growing season. Australia is still expected to produce a smaller crop than normal, which continues to lend support to global prices, while steady demand from India is providing a solid foundation for the market. Conditions in Mexico remain largely unchanged, with exports continuing at a steady pace. Overall, there were few major developments over the past week, but sometimes no news is good news. Feed demand remains present, although activity has been limited as buyers continue searching for opportunities while balancing high replacement costs and blending alternatives.

Pea markets have remained quiet over the past couple of weeks, with both buyer activity and pricing showing little change. Although green pea acreage declined by roughly 10% from last year, expected yields combined with large carryover stocks have analysts forecasting a 6% increase in green pea supplies for the 2026-27 crop year. Yellow peas present a somewhat different outlook. Carryover stocks from 2025-26 are considerably smaller, and Statistics Canada reported seeded acres down approximately 16% from last year. If ending stocks tighten as expected, yellow pea prices could find additional support later in the marketing year. Maple peas continue to see sporadic buying opportunities, with prices generally hovering around $9.00-10.00/bu. New crop contracts with an Act of God clause may still be available for producers looking to secure some fall movement.

Flax prices have stabilized and are now largely in line with new crop values, with bids generally ranging from $15.00-$16.00/bu picked up, though finding purchasers is becoming difficult. Producers with clean, milling-quality flax may still be able to capture premiums approaching $17.00/bu, depending on location and quality. Canadian flax exports for the 2026-27 crop year could be somewhat limited due to expectations for a smaller crop, although average yields would likely keep prices trading sideways. In Europe, France—one of the region’s largest flax producers—has experienced periods of extreme heat that could negatively impact production, although current European crop estimates have yet to fully reflect those concerns. Meanwhile, flax inventories in Chinese warehouses have climbed to their highest levels since 2023, which continues to weigh on the broader market. There are still opportunities to move remaining old crop supplies before new crop begins coming off the field.

Canaryseed values continue to hold steady, with very little excitement in the market over the past several months. Old crop pricing remains around $0.18/lb FOB farm for August through September movement, while new crop contracts continue to carry a slight premium at approximately $0.19/lb FOB farm with an Act of God clause covering up to 15 bushels per acre. The market continues to trade sideways as buyers remain comfortable with current seeded acreage estimates and the sizeable carryover from previous years. Demand still lacks depth, and while buyers remain active at current price levels, there appears to be little incentive for the market to move higher in the near term.

Mustard markets continue to trade quietly, with brown and oriental mustard remaining relatively flat while yellow mustard has shown some slight weakness this week. Bids that were previously approaching the $0.40/lb mark have drifted lower as buyers appear comfortable with current supplies and nearby sales. Spot bids for yellow mustard are now sitting around $0.37/lb, with oriental at similar levels; brown mustard continues to trade near $0.35/lb. Delivery periods vary by buyer, with July movement now off the table. New crop contracting opportunities are still available, however, and many continue to include an Act of God clause, offering growers protection against production risks such as hail. If you’re considering pricing some new crop mustard, give your merchant a call to discuss the opportunities available.

The Prairie wheat crop continues to look strong through mid-July, with Saskatchewan’s July 13^th Crop Report rating spring wheat at 85% good to excellent and durum slightly higher at 95% good to excellent. Winter wheat is rated 22% excellent and 57% good, while more than 90% of the fall rye crop is reported as good to excellent. After strengthening last week on renewed conflict in the Black Sea region, wheat markets have carried that momentum into this week, with futures trading 20-25 cents higher at the time of writing. As harvest begins across North America, developments surrounding the Sea of Azov and Black Sea export logistics will remain an important story to watch. Current wheat pricing includes $8.00-$8.20/bu delivered into northwestern Saskatchewan for August through November delivery. In Central Saskatchewan, CPSR is indicated around $7.10/bu delivered plant for September through December movement, while soft white wheat is trading near $6.90/bu delivered for November-December shipping. CWRS bids in Central Saskatchewan are currently sitting just above $9.00/bu delivered. Durum in southeast Saskatchewan is trading in a range of $7.50-$8.10/bu FOB farm for new crop movement, with the strongest values available for delivery later into 2027. Feed wheat continues to trade between $6.00-$7.00/bu FOB farm, depending on location and quality specifications. For pricing on any other wheat classes, don’t hesitate to contact your merchant.

Not too much has developed in the oat market this week, with prices continuing to trade mostly sideways. Current bids in Saskatchewan are around $3.50-$3.75/bu delivered for milling oats nearby, with slightly stronger values available for early 2027 movement. For growers in Manitoba, bids remain stronger, with opportunities in the $4.30-$4.50/bu delivered range depending on the delivery timeline. If you are looking for a picked-up-on-farm price, firm offers can still work if they are within a reasonable range of current market values, so consider posting a target for buyers to see. As mentioned in previous weeks, oat acres are down this year, but large carryover stocks continue to weigh on the market. Without a significant production issue or demand shift, we are not expecting much movement in oat prices in the near term.

Lentil markets remain difficult to pin down, with small opportunities appearing sporadically for slight premiums but often disappearing quickly. Eston lentils remain relatively quiet, with spot prices around $0.17-$0.18/lb picked up on farm for No. 1 quality, while new crop bids continue to reach above $0.20/lb in many areas. Red lentil bids are generally sitting closer to $0.22/lb picked up on farm for both old and new crop, although occasional opportunities have surfaced at slightly stronger levels. Large green lentils are trading around $0.23/lb FOB farm for No. 2 quality, with new crop values likely showing about a cent higher while Act of God clauses are still available on most contracts. With a sizeable volume of lentils carrying over into the new crop year, recent reports of disease and excess moisture have not created a significant market reaction, although concerns are being monitored. With competition from other global lentil-producing regions, Canadian growing conditions no longer carry the same level of influence on prices as they once did.

U.S. soybean crop conditions continue to hold strong, with 66% of the crop rated good to excellent. Despite favourable crop ratings, weather forecasts across key soybean-growing regions in the U.S. Midwest have provided some support to the market this week, pushing futures to yearly highs. Ongoing conflict involving Iran continues to add volatility to energy markets, with crude oil trading higher at the time of writing and providing additional support to the soybean complex. Locally, new crop soybean interest remains active, with bids around $14.15/bu FOB farm for October-December delivery and $14.50/bu for January-March movement, depending on farm location. Edible bean markets remain relatively quiet as the trade waits for this year’s production outlook. That being said, there has been some buyer interest in new crop pintos, with indications ranging from $0.36-$0.38/lb depending on location. Give your merchant a call for specific pricing opportunities in your area.

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.

Canola futures experienced a selloff on Tuesday, with the November contract giving up earlier-week gains to trade around C$774/tonne. The market is driven by spillover pressure from the Chicago soy complex and European rapeseed, though losses are tempered by crude oil strength and concerns over Canadian prairie flooding. ICE canola futures are fighting back today, Wednesday morning, attempting to regain ground. The November contract is trading around C$777.00/tonne, caught in a balancing act between supportive global energy markets and aggressive selling pressure from other oilseed markets. Both January and March futures show a premium in value to carry product into the winter months. Growers are encouraged to call their merchant for tailored FOB farm bids on both spot and production contracts as local basis levels can fluctuate heavily based on area.

The global and regional bean markets are currently in a tug-of-war between supportive energy prices and ample crop supplies. Soybeans face downward pressure as favorable U.S. Midwest weather caps rallies around $12.00/bushel USD on November futures. This holds true despite macro support from rising geopolitical crude oil risks. In contrast, specialty beans remain structurally firm; faba beans are maintaining indications between $7.00 to $8.00/bushel, though actual trade remains slow due to robust domestic processing and livestock feed demand. Dry edible bean markets and trade are also slow as demand seems to have withered in anticipation of new crop.

The barley market continues to hold onto established values, with old-crop sales trading between $5.25 and $5.75/bu FOB farm for the July–August shipping window. New-crop feed barley is pricing close to old-crop values, actively trading in the $5.00 to $5.25/bu FOB farm range, depending on the area. High expected carryover stocks and anticipation for a decent 2026 harvest are expected to keep values range bound and its likely that spot bids will slowly converge with production values as we inch closer to harvest. To mitigate downside risk, securing current values remains a highly viable strategy. Growers looking to lock in some production for fall shipping may still be able to access new-crop contracts featuring an Act of God (AOG) clause. Meanwhile, the malt market is fundamentally gridlocked; bids are virtually non-existent and firm values are moot, suggesting maltsters are waiting for growers to present firm offers rather than actively posting bids.

Canaryseed values are holding steady but face a thin demand environment. Old-crop tonnage is trading around $0.18/lb FOB farm for July–August delivery, while new-crop contracts maintain a slight premium, trading at $0.19/lb FOB farm with an Act of God clause up to 15 bushels per acre. Recent reports on seeded acres and large carryover make locking in new-crop an effective tool to guarantee harvest movement, free up bin space, and generate early cash flow. However, institutional demand lacks depth. While buyers remain active at current ranges, the market is highly vulnerable to volume limits; once immediate needs are satisfied, both old- and new-crop prices could slip further.

Chickpea markets continue to hold a steady tone as adverse weather persists across growing regions in Western Canada and the U.S. At this point, quality concerns appear to be a bigger wildcard than overall production volume. If this year’s crop reaches the long-term average yield of 24 bu/acre, production would still be down roughly 27% from last year. However, sizeable carryover stocks from previous years should keep overall supplies comfortable. Exports remain strong week after week, with Pakistan leading purchases, followed by the U.S. and Turkey. Old and new crop bids remain aligned, hovering around $0.26/lb FOB farm in western Saskatchewan with an Act of God clause and September through December movement. High-quality supplies remain tight, so there could be some upside for premium-quality product if harvest quality concerns become a reality.

Flax supplies heading into the fall do not appear to be tight, but they are not overwhelming either. With production expected to come in slightly below last year’s crop, available supplies should return closer to average levels. There is still a long way to go before harvest, so plenty can change, but one thing we can likely cross off the list of concerns this year is drought. That said, lower production alone is unlikely to provide much price support, as inventories in both China and the European Union have increased, putting pressure on demand. Pricing has become more difficult to find this week, with many buyers having already secured nearby needs and showing little interest in chasing additional tonnage. For producers with uniform colour, low weed seed counts, and high-quality flax, there may still be opportunities to capture a premium into milling markets. In general, however, bids are hovering closer to the $16.00/bu range, with limited buying opportunities available.

Mustard markets continue to trade sideways. As has been the case for several weeks, growers are making the occasional spot sale to generate cash flow or free up bin space. With new crop contract values virtually identical to old crop values, the market continues to appear well balanced, although full crop-year contracts continue to carry a premium over December delivery. Current bids remain around $0.40/lb for yellow mustard, $0.38/lb for oriental mustard, and $0.35/lb for brown mustard. Delivery periods vary depending on the buyer, although some August movement is still available as we move through the second half of July. Mustard crops are looking good across most growing regions, so it will be interesting to see whether the market continues to trade sideways or begins to respond as the crop develops. We know seeded acres are down from last year, making crop progress worth watching over the coming weeks. As always, talk to your merchant for the latest opportunities.

The pea market remains sluggish despite an improving supply outlook. While market fundamentals are becoming more supportive, cash prices have shown little movement. Old crop yellow peas are trading between $7.50 and $8.00/bu FOB farm, while new crop bids continue to hold in the $8.00–$9.00/bu range. Green pea demand remains limited, although old and new crop bids around $9.00/bu delivered can still be found in select locations. Maple pea bids are becoming harder to find, generally ranging from $9.50 to $10.00/bu, with buyers remaining selective on variety. Canada exported approximately 164,000 tonnes of peas in May, bringing crop year-to-date exports to 2.4 million tonnes, ahead of last year’s pace. China remained the largest buyer after removing its import tariffs on Canadian peas. More recently, China’s preliminary 73.5% anti-dumping tariff on Canadian pea starch, which took effect July 1, has raised some trade concerns. However, the pea starch market represents only a small portion of Canada’s overall pea exports, and trade in whole dry peas continues uninterrupted. Going forward, the market will be watching closely to determine whether this remains an isolated measure or signals broader trade tensions.

Wheat crops across the Prairies continue to look favourable in most areas. While some regions have experienced excessive rainfall, flooding, or disease pressure, reports from across Western Canada continue to suggest cereal crops are handling this summer’s conditions relatively well. Globally, several developments have helped support wheat prices this week. Ukrainian drone attacks in the Sea of Azov have forced Russia to restrict commercial vessel traffic accessing the Black Sea, disrupting a region reported to handle up to 25% of Russia’s grain exports. Markets will continue to monitor this situation closely as Russia’s harvest progresses. Meanwhile, the French wheat harvest is well underway, but recent heatwaves have affected yields, providing additional support to global wheat markets as harvest advances. Current wheat pricing includes August delivery at $8.15/bu delivered into northwestern Saskatchewan, with September-October bids easing slightly to $8.05/bu delivered. Feed wheat continues to trade in a range of $6.00-$7.00/bu FOB farm, depending on class and quality. For pricing on other wheat classes, don’t hesitate to reach out to your merchant.

At the end of June, Statistics Canada estimated oat acreage at just over 2.5 million acres for 2026, a 15% decline from last year, largely due to the sizeable carryout of old crop stocks. Despite the lower acreage, crop conditions across many of the key oat-growing regions have generally been favourable, and production will be closely watched as the growing season progresses. Old crop oat pricing continues to trade within a relatively steady range, with bids around $3.50-$3.75/bu delivered to plant, while some buyers are offering similar picked-up values depending on location. For producers expecting a strong oat crop, there is buyer interest for October movement on new crop oats if storage becomes a concern. For those willing to wait, new crop bids into Manitoba are currently ranging from $4.35-$4.50/bu delivered for late fall and early 2027 movement.

Lentil markets continue to soften as we move into the dog days of summer. Buyers don’t appear overly concerned with current crop conditions, largely due to the larger-than-normal carryout of old crop. At this point, quality is expected to be a bigger story than overall production. Small green lentils continue to trade around $0.19/lb delivered for No. 1 quality, while No. 2s are bringing approximately $0.14-$0.15/lb FOB farm. The large green market remains relatively quiet, with only a handful of buyers actively looking for No. 2 quality. Interest in Extra 3 large greens has improved slightly, while demand for standard No. 3’s remains limited. #2 spec large greens have been trading in the $0.23-$0.24/lb FOB farm range, with X3s moving around $0.19-$0.20/lb FOB farm. Red lentils have also been relatively quiet in recent weeks. The last reported trade for No. 2 reds was around $0.23/lb FOB farm, although transactions have been few and far between. New crop reds traded this week at $0.22/lb FOB farm with an Act of God clause. Overall, the lentil market is expected to remain fairly subdued until harvest approaches or weather begins to have a more significant impact on crop quality or production.

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.

Barley markets continue to follow the same trend we’ve seen over the past several weeks. Old crop values are still trading in the $5.00–$5.25/bu range, although most movement has been pushed into August and bid depth remains limited. New crop contracts are currently valued between $5.00 and $5.50/bu FOB farm, with stronger pricing the closer you get to feedlot alley. Recent rains across the Prairies, combined with later seeding in some areas, have improved expectations for an adequate feed barley crop this year. Locking in a portion of your expected production at current values continues to make sense. As always, firm offers and target prices continue to attract buyer attention.

Flax prices have slipped in recent weeks, with both old and new crop values now ranging from $15.25 to $16.00/bu picked up. The latest Statistics Canada acreage report showed seeded acres lower than the March estimate; however, the reduction is not expected to have much impact on pricing, as acreage could still have been trimmed further. Russia remains the dominant supplier of flax into China, followed by Kazakhstan. Canadian exports to China have improved compared to the past couple of years, helping to add support in old crop values. Looking ahead, increased flax production across the Black Sea region and the U.S. is expected to keep a lid on any significant rallies in new crop pricing.

Statistics Canada reported pea acres down approximately 14% from last year. While lower green pea acreage was widely expected, yellow pea acres also came in below expectations. Due to late seeding and excessive moisture across northern and eastern growing regions, some intended yellow pea acres were likely switched out at the last minute. U.S. pea acreage is also expected to decline following a period of subdued pricing. Overall, the acreage reductions are supportive to pricing, particularly for yellow peas, as export opportunities into China and India are expected to improve. Despite the positive outlook, cash prices remain largely unchanged. Old crop yellow peas are trading between $7.50 and $8.00/bu, green peas continue to struggle to attract bids, and maple peas are around $10.00/bu. New crop values remain unchanged from last week, with yellows at $8.00–$9.00/bu, greens at $8.50–$9.00/bu, and maples around $10.00/bu picked up on farm.

Canola futures climbed sharply Wednesday, reaching their highest level in a month as rising crude oil prices and stronger Chicago soyoil provided spillover support. Crude oil surged more than US$3 per barrel after the United States and Iran exchanged fire following Iran’s attack on vessels in the Strait of Hormuz. The rally in crude oil lifted global vegetable oil markets, with Chicago soyoil gaining more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil also posted gains. Canola also found support from technical buying, with prices holding above key moving averages, along with ongoing weather concerns across Western Canada. Flooding and persistently wet conditions have reduced production prospects in some regions. The forecast is calling for scattered showers today, followed by clearer skies and near-seasonal temperatures. Positive basis opportunities are available in some areas for those looking to market old crop canola. At the time of writing, November futures are sitting at $782.90/mt, while January futures are approaching the $800/mt mark at $793.00/mt.

Oat markets have remained under pressure over the past couple of weeks as ample supplies and favourable crop prospects continue to push prices sideways to lower. Oat futures recently fell to their lowest level in six years, reflecting buyer confidence in abundant global supplies and limited sales opportunities. Weather will remain the key variable moving forward. Continued rainfall could create quality and yield concerns, but with large old crop stocks still available, upside potential for oat prices appears limited in the near term.

It has been another sideways week for chickpeas despite acreage across much of Saskatchewan and into Alberta being rated as high risk for Ascochyta. Warmer temperatures are expected over the coming week, which should help support crop development, but an extended period of sustained heat will be needed to properly dry fields and reduce disease pressure. Daytime highs are expected to range from 20°C to 30°C, with average temperatures closer to 15°C to 20°C. While this will help, it is unlikely to fully resolve current concerns. Precipitation continues to fall across much of the chickpea-growing region, although rainfall amounts have generally been lighter. Overall, the crop has experienced fewer heat units than desired, resulting in slightly stunted growth and increased susceptibility to disease and potential yield loss. A prolonged stretch of warmer, drier weather would greatly benefit the crop as we move further into the summer months.

Wheat markets remain fairly steady this week, with traders continuing to monitor global weather developments. On June 30, Statistics Canada reported wheat acreage at just over 25.5 million acres, down more than 5% from last year. While crop ratings in Saskatchewan remain favourable overall, many areas will be watching closely for issues related to flooding and excess rainfall, as prevented acres and production losses could ultimately reduce the final acreage estimate. The European Union has also been experiencing an intense heat wave during harvest, although strong crop prospects across the Black Sea region have limited the market’s reaction. For local pricing, CPSR is trading around $7.00/bu delivered into central Saskatchewan for September through December delivery, while CWRS is ranging from $7.50 to $7.55/bu delivered over the same period. Soft white wheat is trading between $6.55 and $6.60/bu delivered for November through December delivery. Durum bids in southeast Saskatchewan range from $7.50 to $8.00/bu FOB farm, depending on location and quality specifications, with carry premiums extending delivery into the first half of 2027. Feed wheat bids remain similar to last week, ranging from $6.00 to $7.00/bu FOB farm depending on location. For lower-quality wheat or durum, give your merchant a call, as we continue to find homes for off-spec and heated product.

Mustard prices remain largely unchanged for another week. Sellers continue to move some product to create bin space and generate cash flow, but trade has been relatively quiet, with buyers showing little urgency to secure additional tonnage. The market remains fairly balanced. Current bids are around $0.35/lb for brown mustard, $0.38/lb for oriental mustard and $0.39–$0.40/lb picked up on farm for yellow mustard, all with August movement being quoted. New crop pricing remains largely in line with old crop values, though some contracts may see slight premiums for full crop year shipping windows. Recent moisture has benefited many mustard-growing areas, particularly in southwestern Saskatchewan. Statistics Canada’s latest acreage report showed lower seeded mustard acres than many in the trade had expected. Time will tell which estimate proves more accurate, but if the Statistics Canada numbers are correct, they could provide some upside potential for the mustard market.

Lentil markets remain quiet, with most buyers sitting on the sidelines awaiting new crop supplies. Small programs such as #1 small green lentils at $0.18/lb FOB farm for prompt movement and limited tonnes of #2 large green lentils at $0.24/lb FOB farm are available on “one-off” type purchases, though bids are not deep. Of course, these small programs continue to be freight and quality sensitive so its best to contact your merchant for further details. New crop trade has been relatively light over the past week, with a few #2 large green contracts trading at $0.24/lb (Extra #3’s at $0.22/lb) FOB farm. These contracts include an Act of God clause and picked-up-on-farm terms. Production red lentils have traded at $0.22/lb FOB farm with an Act of God clause, with spot trades sporadic and values generally in the same ballpark. The market is expected to remain relatively quiet through the remainder of the crop year unless additional rainfall significantly impacts crop conditions beyond what has already occurred.

Canaryseed markets have changed very little week-over-week. Prices continue to sit around the $0.18/lb mark, with limited buying interest as export sales have slowed. Most buyers appear to have covered their old crop needs and are expected to remain on the sidelines until new crop becomes available. Buyers were largely unfazed by Statistics Canada’s acreage report, which showed seeded canaryseed acres down approximately 80,000 from last year; 60,000 acres below 2024 levels. Even with reduced acreage, buyers remain confident that ample carryout stocks, combined with the upcoming year’s production, will be sufficient to meet demand. If prices do improve, the rally is expected to be gradual rather than immediate.

Soybean prices moved higher overnight, supported by stronger crude oil markets amid renewed U.S.-Iran tensions, growing weather concerns across parts of the U.S. Midwest, and continued speculation that China is beginning to step back into the U.S. soybean market. While large-scale Chinese purchases have yet to be confirmed, ongoing trade chatter and recent buying activity have added optimism that export demand could improve in the months ahead. Local soybean bids are currently ranging from $12.50 to $13.00 per bushel FOB farm. U.S. black and pinto bean prices continue to trend higher, suggesting supplies may be tighter than previously anticipated. That strength is providing underlying support to Canadian bean prices, despite relatively quiet buying interest. Meanwhile, faba bean demand remains steady, supported by both feed and fractionation markets. Current bids are around $8.00/bu for #2 export-quality faba beans and approximately $7.50/bu FOB farm for feed-grade product.

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

Chickpea markets continue to trade within a relatively stable range, despite news of a potential decrease in North American acreage and reports indicating that 93% of Canadian chickpeas are rated in good to excellent condition. Seeding has progressed slower than expected due to wet conditions, but prices have remained steady. Spot values are holding near $0.27/lb FOB farm for #2 Kabuli chickpeas and around $0.10/lb for feed-grade product across Western Canada and the United States. New crop contracts are currently at par with old crop values, and relatively few contracts have been written, suggesting there could be a larger volume of product to market this fall if trade activity does not pick up. Export demand continues to favour larger-sized chickpeas, typically requiring 30–40% 9mm sizing while limiting 7mm product to 10–20%. This leaves smaller or off-spec old crop supplies more likely to move into feed channels. While the overall supply outlook is tightening, it will take time for the market to work through existing inventories. Internationally, Australia’s 2026–27 chickpea crop is expected to decline by more than 50%, although the impact is partially offset by ample carryover stocks that continue to support global supply.

Barley markets have seen little change from last week. Old crop indications remain in the $5.00 to $5.75 per bushel FOB farm range, although market sentiment appears to be softening slightly. It is likely that once buyers secure sufficient tonnage at these levels, prices may begin to ease as the wait for new crop shortens. Despite this, current values remain strong and present a reasonable opportunity to move inventory, particularly given expectations for a solid feed barley crop in 2026. There are still some new crop contracting opportunities available, with a Prairie-wide average around $5.00 per bushel FOB farm. A few buyers may still be open to including an act of God clause on these contracts, though those opportunities continue to fade weekly.

Oat markets remain quiet, with little change week-over-week. Milling-quality oats continue to be quoted in the $3.30 to $4.15 per bushel delivered range with strongest values seen in Manitoba. At this time of year, it is common for demand to slow, as buyers typically secure coverage well in advance. This often leaves the market in a holding pattern, focused on moving remaining contracted old crop supplies while waiting for the arrival of the 2026 harvest. With seeding delays across parts of the Prairies, there is some expectation that oat acres may have increased slightly compared to earlier projections.

Next week, Statistics Canada will release its acreage report, which will provide a clearer breakdown of seeded pea acres by type. Expectations are that yellow pea acres will be similar to last year, while green and maple pea acres are likely to decline. Given the current carryover of green and maple peas, a reduction in acres would be a welcome adjustment to help balance supply. Pea prices have softened, which is typical for this time of year. Old crop yellow peas are currently indicated between $7.50 and $8.25 per bushel picked up. Green peas have weakened further, with many buyers stepping away from the market and posting no bids until demand improves. Maple peas are holding in the $10.00 to $11.00 per bushel picked up range. New crop values remain steady, with yellow peas at $8.00 to $9.00 per bushel FOB, green peas around $9.00 per bushel FOB, and maple peas between $10.00 and $10.50 per bushel FOB, all including an act of God clause.

Flax prices are mostly trading sideways, although limited buying interest is beginning to shift focus toward new crop supply. Old crop prices are ranging from $16.50 to $17.50 per bushel FOB, while new crop values are sitting near $16.00 per bushel picked up with an act of God clause. These price levels are expected to converge in the coming weeks. Old crop pricing continues to find support from steady export demand out of Canada. However, yield variability remains a possibility depending on seeding timing across different regions. Kazakhstan continues to be a dominant exporter of flax, with China and Belgium as key destinations, and favourable crop conditions reported in both Russia and Kazakhstan are likely to weigh on new crop pricing moving forward.

ICE canola futures were lower at midday Wednesday, pressured by a sharp decline in crude oil prices and weakness across competing vegetable oil markets. As tanker traffic through the Strait of Hormuz continued to normalize, crude oil values retreated, while lower prices in Chicago soyoil and Malaysian palm oil added further pressure to canola. Despite the softer tone, November canola futures remained relatively well supported at approximately $746/MT at the time of writing, up roughly 7.5% from year-ago levels, backed by strong domestic crush demand. Crop development across Saskatchewan has generally been favourable, with recent rainfall benefiting most regions, although warmer temperatures would help advance growth and maturity. Looking ahead, strong domestic processing demand and ongoing uncertainty surrounding global vegetable oil supplies and trade flows continue to provide underlying support for longer-term canola price prospects. July futures were trading near $737/MT at the time of writing.

Soybean futures have pulled back from overnight gains, partly driven by declining crude oil prices. There is measured optimism surrounding renewed demand from China and stable crop conditions that have not improved enough to pressure prices lower. However, upside potential remains limited as growing conditions across much of the Midwest stay favourable, and traders continue to anticipate larger acreage and production this season. Local bids are currently sitting between $12.25 and $13.00 per bushel FOB farm. U.S. black and pinto bean prices continue to strengthen, suggesting supplies are tighter than previously expected. This is lending support to Canadian values despite relatively limited buyer activity. Domestic demand for faba beans remains firm, driven by feed and fractionation markets. Current farm-gate bids are near $8.00 per bushel for #2 export-quality faba beans, while feed-grade product is trading around $7.50 per bushel FOB farm.

Canaryseed prices remain stagnant, as buyers are still able to source product at current levels and there is little urgency to move large volumes. Spot bids are generally in the 18 to 19 cent per pound range, depending on location and timing. Securing timely movement is becoming more challenging as shipment windows fill and extend into late summer. For fall delivery, some buyers are indicating values closer to $0.20 per pound picked up on farm with an act of God clause, although producer participation has been limited so far. Seeded acreage was expected to decline this year, and there is growing speculation that delayed seeding may have reduced acres even further ahead of the next report.

Wheat conditions across Saskatchewan have remained favourable through June, with strong ratings reported province-wide. As of June 15, the Saskatchewan Agriculture Crop Report rated spring wheat at 18% excellent and 64% good, winter wheat at 6% excellent and 73% good, and durum at 11% excellent and 78% good. Wheat markets are factoring in global production potential and the rapid pace of the U.S. winter wheat harvest, with analysts generally comfortable with current supply estimates. Locally, CPSR wheat is priced at $6.68 per bushel delivered into central Saskatchewan, with an 8 cent per bushel monthly carry out to December, reaching $7.02. CWRS into central Saskatchewan is trading between $7.15 and $7.50 per bushel delivered for September through December movement, while soft white wheat is priced at $6.60 to $6.65 per bushel delivered for November through December. Feed wheat into northwestern Saskatchewan is trading between $7.50 and $7.75 per bushel depending on delivery timing, with a premium of $7.90 per bushel for August delivery. Feedlot alley bids are showing $7.35 per bushel delivered for new crop movement. For other wheat classes, reach out to your merchant for pricing.

Mustard markets have remained remarkably flat, with little change in pricing. The positive takeaway is that values continue to hold a solid floor and new crop bids continue to hold premiums over the spot market in some cases. Recent rains across growing areas have supported crop development, with growers reporting favourable early conditions. Spot yellow mustard is currently in the $0.39 to $0.40 per pound range for #1 quality, while brown and oriental types are holding in the $0.36 to $0.37 per pound range picked up on farm. For off-grade product, it is still worth reaching out, as there may be opportunities to find a home. New crop pricing remains similar to spot values, with, as mentioned, some opportunities presenting themselves for a bit of a carry in value. Contracts are typically available for 5 to 10 bushels per acre and including an act of God clause. With flowering beginning on some early-seeded fields and a continued forecast for moisture, conditions remain supportive for crop development.

Lentil markets continue to soften as summer progresses. Large green lentils have recently traded in the $0.22 to $0.23 per pound FOB farm range with movement pushed into July and August, although many buyers are currently showing no bid. New crop large greens are trading around $0.23 per pound FOB farm with AOG. Small green lentils have become very quiet, with limited buyer interest in old crop supplies. It is increasingly difficult to find bids for #1 quality and nearly impossible to market #2 quality product. Around $0.16 per pound FOB farm may be the best available bid for #1s at this time. New crop small greens have traded between $0.20 and $0.21 per pound FOB farm, although many buyers are beginning to fill their coverage needs. Red lentils continue to outperform the green market, with old crop trades reaching $0.23 to $0.24 per pound FOB farm. New crop red lentils have traded between $0.22 and $0.23 per pound FOB farm with an act of God clause. Markets have entered their typical summer slowdown, with prices gradually easing as buyers prepare for the arrival of the 2026 crop. Additional pressure is coming from larger-than-normal volumes of old crop being marketed as producers work to free up bin space ahead of harvest. Looking ahead, if the new crop delivers average yields and #2 quality or better, old crop lentils may be pushed to the back burner as buyers shift focus to fresh supplies. Producers holding old crop inventory should monitor opportunities closely, as market interest could become increasingly limited once new crop movement begins.

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.

Pea markets are adjusting as the 2026 harvest approaches, which has been putting some pressure on old crop values. Yellow peas continue to hold relatively steady week-over-week, with current indications ranging from $8.00 to $8.50 per bushel FOB farm for June- August delivery. Green peas have softened, with overall demand appearing weak. Indications are sitting in the $9.00 to $9.50 per bushel FOB farm range, although finding firm bids at those levels is becoming increasingly difficult. Maple peas are quoted between $9.50 and $11.00 per bushel FOB farm, depending on variety and delivery timing. New crop values remain largely unchanged, with the strongest opportunities appearing in yellow pea bids. New crop yellows have traded in the $8.00 to $9.00 per bushel FOB farm range, including an act of God clause, with the strongest bids available in Southeast Saskatchewan for glyphosate free protein markets. Call your merchant to discuss!

The canaryseed market continues to be well supplied, with an expected large old crop carryover weighing on prices. Even with a potential decline in seeded acres, overall supply remains comfortable, keeping values capped. Current old crop pricing is in the $0.18 to $0.19/lb picked up on farm range for June and July movement. New crop holds a slight premium, with bids around $0.19 to $0.20/lb picked up on farm, including an act of God clause. Assuming a normal growing season, pricing is likely to remain within this range, as supplies are expected to remain adequate.

The barley market softened slightly this week, largely due to timely rains across key growing regions. Old crop pricing currently ranges from $5.25 to $5.75 per bushel picked up on farm, with stronger values seen closer to feedlot alley. Some areas are still seeing new crop bids near $5.00 per bushel picked up, although these values have begun to soften as well. Growers looking to forward contract a portion of expected production may still be able to capture an act of God clause, though these opportunities are fading quickly. It is recommended to check with your merchant for FOB pricing specific to your location. If favourable growing conditions persist, additional downward pressure on prices is likely as supply expectations increase.

Oat prices remain sideways for another week, with market dynamics suggesting steady values over the next couple of months. For #2 CW oats, bids currently range from $3.30 to $4.15 per bushel delivered, with the higher end of that range quoted for product landed in Manitoba. Rather than focusing on new crop sales for 2026, many analysts are recommending moving a portion of old crop inventory, as overall supplies remain well stocked. With a heavier carryout, the oat market is unlikely to see any significant price increases in the near term. If additional acres were seeded due to delayed planting conditions, this could add further pressure to the market. Occasional buying opportunities for lower grade oats do surface, so it is important to understand your grain quality to ensure you can capture those opportunities when they arise.

Markets are closely watching the June 30, 2026 Statistics Canada acreage report, which is expected to provide a clearer picture of planted wheat area following a delayed and wet Prairie spring. March intentions indicated total wheat acres were down 1.1% year over year, with spring wheat nearly unchanged and durum down 2.4%. Overall, the Canadian crop is developing well, supported by improved moisture across much of Alberta, Saskatchewan, and Manitoba. However, excessive rainfall and flooding from east of Yorkton through parts of Manitoba have resulted in production losses and prevented some acres from being seeded. The Peace region of Alberta remains on the dry side and will require continued monitoring. In the United States, wheat futures have rebounded to around $6.00 per bushel, supported by short covering and strong harvest progress. Winter wheat harvest has reached 25% complete, compared to the 13% historical average. Crop conditions have also improved modestly for both winter and spring wheat. Globally, the USDA’s June WASDE report lowered Australian wheat production by 2 MMT and increased Russia’s crop by 2 MMT, leaving world ending stocks largely unchanged. That said, many analysts believe both Australian and Russian production estimates could trend higher if favourable growing conditions continue. The reopening of the Strait of Hormuz has also reduced geopolitical risk premiums across grain markets. While global crop prospects appear slightly larger than they did a month ago, Canadian exports remain competitive. Wheat markets are expected to trade sideways in the near term, with weather developments across Canada, the northern United States, Argentina, and Australia likely acting as the primary drivers of price direction. Currently, bids are around $8.10 per bushel delivered into Saskatoon for a 13.5 protein #2 red spring wheat with July delivery. Feed wheat bids are hovering between $6.00 and $7.00 per bushel FOB farm, depending on location for summer movement.

Lentil markets have seen little change from last week, with a softer tone as crop prospects continue to look favourable across much of the Prairie growing region. While lentil crops are progressing well domestically, the Indian monsoon has delivered below-average rainfall through June and will need to improve to reach normal levels. Australian red lentil production also appears strong, making both regions important to monitor as new crop approaches. Locally, #2 large green lentils have been trading around $0.23/lb FOB farm, with some opportunities in the $0.24 to $0.25/lb range for delivery to plant. While summer shipping options remain available, some buyers have pushed Laird bids out to September delivery. #1 small greens continue to trade around $0.18/lb FOB farm for June and July movement. Buyers are also showing interest in lower-grade green lentils, with bids varying depending on quality and the nature of downgrades. Red lentils are trading within a range depending on proximity to the buyer, with values between $0.23 and $0.25/lb FOB farm. Other lentil classes have seen lighter activity, with beluga lentils trading around $0.36/lb FOB farm for late summer movement, and French greens indicated at approximately $0.21/lb FOB farm for June and July shipping. As we move through mid-June, act of God contracts are available on most lentil types. It is worth discussing pricing, delivery options, and potential downgrades with your merchant if you are considering fall sales. As noted previously, some buyers will not accept 2025 crop against 2026 production contracts, making it especially important to review marketing plans as the new crop window approaches.

Chickpea prices have remained relatively steady, with current bids for large Kabuli chickpeas holding around $0.26/lb picked up on farm for #2 quality. For larger-sized product, such as lots with 30–40% 9mm and better, there may be an opportunity to capture an additional cent with firm targets. Seeding progress locally is behind pace, as weather challenges have delayed planting in some areas. With the window for chickpeas narrowing, there is potential for reduced acreage compared to earlier expectations. While recent rains have supported crop development, they also increase the risk of disease pressure. Globally, uncertainty remains around the impact of India’s monsoon season and whether Australia will see a smaller crop. For now, prices continue to trade sideways.

Canola markets experienced notable volatility over the past week. Prices started strong, supported by concerns over wet weather across parts of the Prairies and the potential impact on crop progress and production. Additional support came from stronger crude oil prices, which often influence vegetable oil markets. As the week progressed, however, prices pulled back as crude oil weakened and traders took profits following the recent rally. Despite the pullback, canola values remain historically strong, with the market continuing to focus on Prairie weather conditions, crop development, and global demand. Weather remains the primary driver of price direction as the growing season unfolds.

Flax markets were somewhat mixed over the past week, with trades ranging from as low as $17.00 to as high as $17.75 per bushel FOB farm. Price variation was largely driven by differences in quality and freight costs. The market is expected to gradually soften as new crop approaches, with buyers currently showing interest in only limited tonnage. New crop pricing remains relatively thin, with trades reported between $16.00 and $16.50 per bushel. With seeding delays across the province, it will be important to compare final acreage figures in the upcoming June 30 Statistics Canada report against earlier estimates. The previous forecast of 753,000 acres may trend lower, as late seeding conditions likely reduced flax acres. In addition, strong canola prices may have encouraged some growers to shift away from flax. It will also be worth monitoring the breakdown between brown and yellow flax acres this year, as there appeared to be increased interest from growers in yellow flax production.

Soybean prices moved higher alongside the broader grain complex last week. Despite this support, the market remains vulnerable to downside risk due to the large speculative long positions currently in place. Favorable U.S. crop conditions, expectations for increased soybean acreage, and the potential for higher South American production estimates are all likely to limit further upside. Local soybean bids are currently ranging from $13.00 to $13.25 per bushel FOB farm. Black and pinto bean prices continue to indicate tighter supplies, which has provided some support to Canadian markets. There have also been opportunities for #1 pinto beans, with offers being considered around $0.31/lb. Current farm-gate bids for #2 export-quality faba beans are near $8.00 per bushel, while feed-grade faba beans are trading around $7.50 per bushel FOB farm.

Mustard markets remain slow but steady, with spot prices unchanged from last week. The market continues to watch early crop development closely as the season gets underway. Current spot values are sitting in the $0.39 to $0.40/lb range for #1 yellow mustard and $0.36 to $0.37/lb for brown and oriental mustard, on a picked-up-in-yard basis. New crop pricing remains largely in line with old crop values. Mustard contracts typically include an act of God clause and are generally based on approximately 10 bushels per acre. Weather conditions have been generally favourable across mustard-growing regions so far this season. Some of the earliest-seeded fields are expected to begin flowering soon. If moderate temperatures and timely, scattered rainfall continue through June, conditions should remain supportive for crop development and overall yield potential.

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.

With seeding largely complete and favourable weather across much of Western Canada and Montana, the chickpea market has started to see a pickup in trade activity. While values for both spot and new crop remain unchanged, the volume of bushels moving has increased, particularly in the spot market. Bids continue to hold steady at $0.27/lb FOB farm for June and July movement, with new crop values at similar levels including an act of God clause and some freight sensitivity. Buyer interest remains focused on specifications of a minimum 30–40% 9mm size and a maximum 10–20% 7mm. Feed markets continue to see limited activity, with values holding around $0.10/lb FOB farm depending on quality factors. There is growing curiosity around whether drought concerns in India could begin to influence the chickpea market and provide support in North America, or whether increased seeded acres and favourable growing conditions will result in another solid crop and keep prices subdued as the market works through existing carryover. It is still early, but at least there is a developing story to follow.

The pea market has moved into its typical seasonal downturn, with old crop bids beginning to soften. Yellow peas have held relatively steady so far, with bids around $8.00 to $8.25 per bushel picked up. Green peas have weakened, slipping back to $9.50 per bushel delivered and $9.00 FOB becoming increasingly difficult to find. Maple peas have also pulled back, with some buyers stepping away from certain varieties altogether. New crop values remain largely unchanged. New crop yellow pea bids range from $8.00 to $9.00 per bushel picked up, with the higher end tied to southeast Saskatchewan and protein and glyphosate-free programs. New crop green peas are holding around $9.50 per bushel delivered, while maple peas are trading between $9.50 and $11.00 per bushel picked up contingent on variety.

Barley markets continue to follow a steady, sideways trend similar to recent weeks. Old crop indications remain in the $5.25 to $5.75 per bushel FOB farm range for June and July movement, with stronger pricing available closer to feedlots around Lethbridge. For those still undecided, the likelihood of a meaningful rally appears limited under current conditions. Carryover stocks, expected seeded acres, and timely rains across the Prairies are contributing to expectations for a potentially above-average barley crop. If realized, this would shift the market further toward a supply-driven environment where production could outweigh demand. There is still some opportunity to secure new crop contracts with act of God clauses, although that window is gradually narrowing. It may be worth reviewing pricing and delivery options while they remain available.

Flax prices are starting to trend lower as they move closer to new crop values. Current pricing is ranging from $16.50 to $17.00 per bushel picked up, while new crop values are somewhat inconsistent, generally around $16.00 per bushel FOB with an act of God clause. Export demand will need to continue improving in order to keep carryover stocks at manageable levels. Russian supplies have increased since the winter months, with China remaining a key destination. If demand from China can be sustained, it should help stabilize prices despite the added pressure from larger global supplies. For those still holding yellow flax, buyers continue to show interest in both old and new crop, and it may be worthwhile to check in with your variety specifics to determine current pricing opportunities.

Mustard markets have seen limited activity over the past week, with spot prices holding steady. Current trades are sitting in the $0.39 to $0.40/lb range for #1 yellow mustard, and $0.36 to $0.37/lb for brown and oriental mustard on a picked-up-on-farm basis. New crop opportunities remain largely in line with spot pricing for those looking to hedge some production risk. Most mustard contracts are structured around the first 10 bushels per acre and include an act of God clause covering both quality and quantity. Buyers generally prefer that producers carry crop insurance on contracted acres. Seeding is mostly complete across mustard-growing regions, although there is some expectation that late-seeded areas may come up slightly short due to ongoing weather challenges. Final acreage totals remain uncertain, as progress is still behind the typical pace by a noticeable margin. That said, early crop conditions appear generally positive, though there is still a long growing season ahead.

As of June 1, Saskatchewan Agriculture reported that 90% of durum and 85% of spring wheat had been planted across the province. Crop conditions are rated at 21% excellent and 69% good for both durum and spring wheat, indicating a strong start in most areas. Despite a later start in some regions, markets are viewing current crop progress and conditions as generally comfortable, while continuing to monitor global wheat production for any emerging stress factors. Focusing on durum, recent reports suggest seeded acreage may have declined to as low as 5.5 million acres, which could result in a smaller crop compared to last year. While Canadian durum has benefited from timely rainfall, more than half of the U.S. durum crop is experiencing some level of drought stress. Locally, wheat prices are sitting around $7.95 per bushel delivered to plant in central Saskatchewan, with similar bids into feedlot alley for June and July movement. New crop wheat bids into feedlot alley are currently ranging from $7.60 to $7.75 per bushel delivered for August through November movement. Feed wheat bids across Saskatchewan are quoted between $6.00 and $7.00 per bushel FOB farm, depending heavily on location and quality. For pricing on other wheat classes or to firm up FOB farm bids specific to your area, it is recommended to contact your merchant.

Canaryseed markets remain flat, with light trade activity continuing. There are indications that seeded acres may be down this year, based on feedback from growers and reports of sluggish seed sales from seed growers. However, a sizeable carryover remains in farm bins across the province, continuing to weigh on the market. Old crop pricing is holding around $0.19/lb FOB farm for June and July movement. Given the current carryout situation, moving a portion at these levels may be the best strategy to clear up bin space as a near term rally doesn’t seem likely. New crop contracts are available with indications around $0.20/lb FOB farm, including an act of God clause, with most buyers targeting 10 bushels per acre. For those looking to secure additional coverage, there may be opportunities to negotiate act of God contracts above 10 bushels per acre. This could be a solid approach for fall movement, particularly if prices remain relatively flat.

Lentil markets continue to soften as summer approaches. Large and small green lentils are becoming increasingly difficult to market, as most buyers have their summer needs covered and are able to wait for new crop supply. Reports of some companies now pushing September delivery shipping windows on old crop large greens have also popped up. Large green lentils have been trading between $0.21 and $0.23/lb FOB farm for June through September movement, depending on the buyer. New crop values are in the $0.23 to $0.24/lb FOB farm range with an act of God clause for September to December delivery. Small green lentils are priced at $0.17 to $0.18/lb for old crop, with new crop values at $0.22 to $0.23/lb FOB farm, also including an act of God clause for September to December delivery. With new crop pricing currently stronger than old crop, buyers are cautioning that old crop lentils cannot be delivered against new crop production or deferred delivery contracts. Loads that are not from the 2026 crop are expected to be rejected or heavily discounted. Producers should anticipate a two-tier pricing structure emerging this fall due to the large 2025 carryout of green lentils. The only scenario in which this structure is avoided would be if this year’s crop comes off in poor condition. Red lentils remain relatively stable compared to greens. Old crop values are holding in the $0.24 to $0.25/lb range, with new crop at $0.23 to $0.24/lb. The red lentil market will be closely watched as concerns build around weather patterns in India and Australia, particularly the potential impacts of an El Niño event this growing season. If forecasts materialize, both countries could see reduced yields, which may provide some price support for Canadian lentils.

Canola futures on the Intercontinental Exchange were slightly higher today, with both the nearby July contract and new crop contracts posting gains. July futures are sitting at $768.60/mt, while November is at $776.30/mt. The market found support from strength in crude oil, the Chicago soy complex, European rapeseed, and Malaysian palm oil, with higher energy prices also providing spillover support to vegetable oils. In Western Canada, persistent rainfall continues to delay seeding in some regions, while overland flooding has added further challenges. Although the recent precipitation has helped ease drought conditions in certain areas, it has also slowed spring planting progress. The July and November canola contracts are currently trading near their 20-day moving averages, with the broader uptrend remaining intact. The new crop November contract has also moved above key moving averages, providing additional technical support.

The oat market has remained relatively quiet over recent weeks. Attention is now shifting toward the possibility of increased oat acreage, particularly in northeastern Saskatchewan, where delayed seeding has led some growers to consider shorter-season alternatives such as oats and barley. Given that oat supplies are already ample, any meaningful increase in planted area could add further pressure to the market, making acreage developments an important factor to monitor. In light of this outlook, producers may want to consider moving a portion of old-crop inventory to help manage downside risk. Current delivered bids for #2 oats into Manitoba are holding above $4.00 per bushel, while new crop pricing delivered to Saskatchewan mills is generally ranging between $3.25 and $3.50 per bushel, depending on delivery timing.

Soybeans bounced in line with broader grain markets, supported by rising crude oil prices and renewed geopolitical tensions in the Middle East. However, large speculative long positions continue to leave the market vulnerable to additional downside pressure. Favorable U.S. growing conditions, expectations for increased planted acreage, and potential upward revisions to South American production estimates are all expected to limit the upside in rallies. Local soybean bids are currently sitting between $13.00 and $13.25 per bushel FOB farm. Meanwhile, U.S. black and pinto bean prices continue to strengthen, suggesting tighter-than-expected supplies. This has provided some underlying support to Canadian values, despite relatively limited domestic buyer activity. Domestic demand for faba beans remains steady, supported by both feed and fractionation markets. Current farm-gate bids are near $8.00 per bushel for #2 export-quality faba beans, while feed-grade product is trading around $7.50 per bushel FOB farm.

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.

Spot chickpea markets remain unchanged this week, with indications still hovering around the $0.27/lb FOB farm range for June–July movement. Buyers continue to target minimum 30-40% 9mm size and a maximum of 10-20% 7mm. We have also seen light trade into the feed market for chickpeas with high green count, trading around $0.10/lb FOB farm. While these values are not breaking any records, moving product into this market may make sense given that the 2026 harvest is not far off. As new crop supply comes to market, demand and willingness to purchase off-spec chickpeas will likely drop off significantly assuming average quality. Of note, new crop indications perked up with the ability to lock in $0.27/lb FOB farm including an act of God clause in many areas. This is a number worth considering given ongoing discussions around 2026 chickpea acreage. It presents a solid starting point to secure some early movement and generate cash flow. Call in for details and buyer specifications.

Canaryseed remains flat this week, with little change in spot or production values, and given the time of year, this is not uncommon. Old crop continues to move at $0.185-0.19/lb FOB farm for relatively prompt shipment. Considering the large, expected carryout and current 2026 seeding intentions, moving product into this market may be a sensible decision. New crop contract indications are holding at $0.20/lb FOB farm, including an act of God clause, with most buyers willing to contract 15–20 bushels per acre. For those waiting on a potential rally in new crop pricing, it currently does not appear likely in the near term.

Lentil stocks remain comfortable, and pricing continues to reflect that. Exports for the 2026/27 crop year are projected to be the largest since 2019/20, largely driven by lower production in India. At the same time, Turkish supplies of red lentils are expected to increase by 54% and green lentils by 63%. Overall lentil availability across global markets is expected to remain above average. This dynamic is likely to keep prices steady to slightly softer unless issues arise with India’s kharif crop. Prices have been volatile, but at the time of writing, large green lentils are sitting around $0.23-0.24/lb FOB farm on a #2 grade. Red lentils are trading between $0.25–0.255/lb picked up, while small greens are holding near $0.18/lb on a #1 and $0.15/lb on #2. New crop large green lentils are currently priced around $0.24/lb, with small greens in the $0.22/lb picked up range, both including an act of God clause. These are values worth considering, not only to lock in pricing but also to secure movement.

Seeding has progressed quickly under hot, dry conditions across many of the primary mustard-growing regions. A meaningful rain over the past couple of days has helped alleviate some of the drought concerns that had been building in these areas. Mustard prices have shown little change week over week. Old crop yellow mustard is currently priced around $0.40/lb, with brown and oriental sitting near $0.37/lb, all FOB farm on a #1 grade. There continues to be sporadic demand for off-spec yellow mustard, so if you have lower quality in the bin, it is worth connecting with your merchant. New crop values are tracking closely with old crop levels. Yellow mustard is priced between $0.40–0.42/lb, while brown and oriental range from $0.36–0.38/lb, FOB farm depending on movement, and include an act of God clause. There have already been reports of flea beetle pressure. Spray options are available through Rayglen if needed and should be kept in mind as the crop develops.

Barley markets have softened slightly this week. Recent rains across Western Canada have improved overall crop outlook, leading to a more relaxed tone from buyers who are anticipating a strong production year. Feed and malt bids are currently very similar, with little premium being offered for malt. Old crop feed barley delivered into Lethbridge, AB is trading around $6.75/bu for June, easing to $6.53/bu into July. New crop values for delivery into Lethbridge are lower, with September pricing around $6.10/bu, followed by modest carry into 2027. Act of God contracts remain available, although they have not yet been a strong driver of new sales and some buyers are considering pulling this option. With ongoing drought concerns in parts of the U.S., there is still some uncertainty around how much support that may provide. However, recent rains across Southern Alberta and generally favourable growing season across Western Canada will likely continue to pressure prices.

Canola futures on the ICE remained firmly higher on Wednesday, trading close to the C$800 per tonne threshold at the time of writing. Prices were supported by strength in competing vegetable oil markets, strong trading volumes, and a softer Canadian dollar. Ongoing military exchanges between the United States and Iran, including missile and drone activity, have further reduced the likelihood of a near-term diplomatic resolution. This tension contributed to an increase of roughly US$1.50 per barrel in crude oil prices, providing additional support to oilseed markets. While market analysts suggest there is no clear fundamental reason for canola to significantly outperform other vegetable oils, geopolitical uncertainty continues to underpin the broader bullish sentiment. Across Western Canada, recent heat has shifted to cooler temperatures accompanied by rainfall and thunderstorms. Similar weather patterns are expected across the Prairies before temperatures begin to rise again later in the week. July futures are currently sitting at $799.10/mt. New crop contracts are also posting gains, up approximately C$14 to C$17 per tonne, with November futures hovering around $803/mt and January contracts trading roughly $5/mt higher.

The oat market has seen very little movement recently, with minimal news to drive any significant change. There are some emerging concerns around increasing seeded acres, particularly in northeastern Saskatchewan, where late seeding conditions have some producers shifting toward shorter-season crops such as oats and barley. Supply levels are already relatively heavy, so it will be important to monitor where these additional acres ultimately land. In the meantime, moving some old crop inventory as a way to hedge against potential pressure may be worth considering. For #2 quality oats, delivered pricing into Manitoba remains north of $4.00/bu. New crop values are currently ranging from $3.25 to $3.50/bu, delivered to mills in Saskatchewan, depending on the movement window.

Pea seeding continued over the past week, with more reports coming in of growers finishing up. Northern and northeastern regions are still working through it, but warm and windy conditions this past week have helped accelerate progress in those areas. Yellow pea pricing has shown some improvement. Current bids on yellow peas range between $8.00 and $8.50 per bushel FOB farm, although the $8.50 level is typically reserved for deliveries close to processing plants and appears to be the top end of the market for now. #2 green peas are priced in the $9.00 to $9.50 per bushel FOB range, though achieving the upper end of that spread remains challenging. Maple peas are trading in the $11.00 per bushel range for Mosaic and Blazer variety, while Acer types have been slower to attract interest. Maintaining an active offer continues to be an effective strategy for marketing maple peas in the current environment. Reach out for details on new crop opportunities. Off-spec and feed peas are trading between $7.50 and $8.00 per bushel FOB. If you are holding product with higher bleach levels from last year, it would be worthwhile to discuss marketing options.

Soybean prices faced a wave of technical selling following the USDA release of initial crop quality ratings, which came in relatively strong, particularly with planting nearing completion. This pressure, combined with ongoing concerns around trade relations with China, contributed to recent price weakness. Local soybean bids are currently sitting in the $13.75 to $14.00 per bushel FOB farm range. In specialty beans, US black bean and pinto markets have strengthened, reflecting tighter-than-expected supply. This has provided some support to Canadian values, despite limited bid activity domestically. Domestic demand for faba beans continues to improve, particularly from feed and fractionation sectors. Farm gate offers for #2 export quality are around $8.00 per bushel, while feed-grade faba beans are trading near $7.50 per bushel FOB farm.

The wheat markets continue to monitor seeding progress across the Prairies while also keeping a close eye on challenging conditions in the U.S. As of last week, 52% of the spring wheat crop in Saskatchewan was planted, with hot weather allowing for additional progress ahead of the weekend rain events. Beyond North America, concerns are also building internationally. Australia is expected to harvest a significantly smaller wheat crop, with recent estimates suggesting production could fall to approximately 26 million metric tonnes, down from 36 MMT last year. The decline is largely attributed to dry conditions linked to the El Niño event, along with rising input costs. Locally, wheat prices in northwest Saskatchewan are sitting around $7.90–$8.00/bu delivered. Central Saskatchewan delivered plant bids are slightly lower at $7.10–$7.15/bu for fall shipping. Feed wheat values remain competitive, with recent trading above $7.00/bu FOB farm in select regions. In Alberta, wheat delivered into feedlot alley is trading above $8.00/bu for summer movement, and in the $7.75–$7.90/bu range for fall delivery. For other wheat types and additional details, producers are encouraged to contact their merchant.

Flax markets are relatively unchanged compared to last week, though pricing continues to vary depending on buyer coverage and freight. Values are generally sitting around $16.50/bu for companies that are fairly well supplied for the remainder of the year. On the east side of Saskatchewan, buyers are paying as high as $18.00/bu for milling quality with low dockage. Most buyers, however, are operating in the $17.00–$17.50/bu range depending on freight costs. Movement is increasingly being pushed into late summer or early harvest delivery windows. New crop bids remain limited, as most buyers are reluctant to take on forward risk at this stage of the season. Yellow flax has been quiet, with occasional trades reported in the $23.00–$24.00/bu range. Flax remains an important commodity to watch going forward, as several factors could influence pricing direction. At present, the market is experiencing its typical seasonal slowdown, which is reflected in both pricing and movement. Earlier in the year, StatsCan estimated seeded flax acres could increase by 26% over last year. However, this figure may be revised lower in the upcoming seeded acreage report at the end of June. Delayed seeding in many flax-growing regions may also lead to acreage shifting into shorter-season crops. If seeded acres come in significantly lower than expected, additional new crop contracting opportunities could emerge later in the season than normal. Quality will also be a key factor to monitor, as late seeding could push harvest into frost risk periods, increasing the potential for grade discounts. If these factors align favourably, flax could become a stronger-performing market this year.

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 remains largely unchanged week-over-week. Old crop pricing is holding around $0.26–$0.27/lb picked up on farm, based on a maximum of 10% 7mm and a minimum of 30% 9mm sizing. For lower quality product, having detailed specifications is key to securing a firm bid, with prices ranging anywhere from $0.10 to $0.22/lb picked up. Factors include sizing, damage, green count and overall quality. New crop values continue to be posted at $0.26/lb picked up on farm with an act of God clause. Canada still holds a relatively comfortable supply of chickpeas, although a significant portion of that carryover is lower quality. Overall, there are few supportive factors in the market to push bids higher, as global supply remains ample.

Barley markets are flat again this week, with current pricing ranging from $5.25 to $6.00 per bushel FOB farm for June and July movement, depending on freight. Interest in new crop barley continues around the $5.00 per bushel level, with act of God contracts available for up to 30 bushels per acre. Seeding is now well underway across Western Canada, and attention is shifting toward final acreage totals as the crop gets established. Discussion around dry conditions in parts of Southern Alberta has come up recently. Time will tell if this translates into a market bullishness or if mother nature provides some timely moisture.

The oat market continues to face pressure from large available supplies. Seeding is largely underway across all regions, though some growers in the northern parts of Sask are still battling wet conditions. Current old crop bids for delivery into Manitoba are sitting around $4.20 per bushel, with new crop values slightly higher. Delivery opportunities into Saskatchewan are also available, with bids closer to $3.50 per bushel landed at the plant. Occasional buying interest continues to appear for feed and sample-grade oats, making it important to understand quality specifications before marketing to ensure no opportunities are missed. Growers are encouraged to use firm targets on all qualities of oats to try and capture market highs.

Flax markets continue to hold steady this week, largely in line with recent trends. Old crop brown flax is still trading in select areas at $18.00 per bushel FOB farm for June/July movement, which appears to be the upper end of the current range. For those looking to capture slightly higher returns, placing offers above the market may be worth considering. New crop flax contracts are generally sitting at $16.00 per bushel FOB farm with an act of God clause. Given anticipated seeded acres, securing a portion at these levels remains a reasonable approach. In the yellow flax market, demand has softened somewhat for both old and new crop. Old crop values are ranging between $21.00 and $22.00 per bushel FOB farm, while new crop indications are sitting between $19.00 and $20.00 per bushel FOB farm with an act of God clause in light trade.

Canola has experienced a volatile week. July futures have traded as low as $735/mt and as high as just shy of $760/mt. November and January futures continue to carry premiums of roughly $10/mt and $20/mt over July, respectively. The week started on a softer note, with canola being the only major market open, leading to heavier trade and added pressure from crude oil. The market rebounded on Tuesday, with modest gains continuing into midweek. A range of external factors continues to influence canola, including fluctuations in oil and gas markets, developments around Iran-U.S. relations, movement in the soy complex, and ongoing weather-related seeding delays across Western Canada. Basis levels are becoming increasingly variable across the province, with roughly a $10/mt spread on spot pricing from east to west Saskatchewan. For deferred movement, spreads widen further, with differences of approximately $28/mt for September and $39/mt for October delivery, with stronger basis levels generally seen in the eastern regions.

Canadian wheat markets are closely watching Prairie seeding progress alongside deteriorating U.S. hard red winter wheat conditions as the Northern Hemisphere crop develops. The USDA is projecting the smallest U.S. winter wheat crop since 1965, with drought significantly reducing yields across Texas, Oklahoma, and Kansas as harvest begins. In Canada, spring wheat and durum seeding progress remains uneven, with Alberta moving ahead more quickly while Saskatchewan, particularly the northeast, is lagging due to excessive moisture. The International Grains Council is estimating Canadian durum production at 6.0 million tonnes this season, down from 7.1 million tonnes last year, while export expectations have softened somewhat due to improved production in North Africa. Despite broader commodity market pressure tied to easing geopolitical tensions, Canadian wheat remains competitive on the global stage. Market focus will remain on Prairie weather, delayed seeding, and U.S. harvest results through early June. Wheat bids are currently hovering in the mid-$8.00 per bushel range, varying slightly by location, with some new crop pricing reaching around $8.00 per bushel delivered. Old crop durum is also sitting near $8.00 per bushel delivered for #2 in western Saskatchewan, while new crop #1 US-spec durum in southeast Saskatchewan is around $8.50 per bushel FOB for late-year movement.

Mustard prices have been trading sideways for several months, and with ample carryover available to meet export demand, nearby values are expected to remain relatively unchanged. Yellow mustard is hovering around $0.40/lb for old crop, while new crop is sitting in the $0.40–$0.42/lb FOB range depending on delivery timing. Brown mustard is trading at $0.36–$0.38/lb for old crop, with new crop values between $0.36 and $0.38/lb picked up. Oriental mustard is showing slightly stronger nearby pricing at $0.38–$0.40/lb, while new crop sits at $0.36–$0.38/lb FOB, suggesting comfortable supply levels. Kazakhstan has emerged as a notable supplier in the 2025/26 marketing year, adding to global availability. Despite this, prices are likely to remain supported by limited farmer selling and ongoing weather considerations as seeding wraps up.

Pea seeding progress continues to advance, with Alberta nearing 70% complete as of last week, while Saskatchewan is trailing at 53% according to Saskatchewan Agriculture. As fieldwork continues, export demand into China remains encouraging, with Canada ranking just behind Russia in April shipments. Locally, #2 green peas are priced around $9.50 per bushel delivered for both old and new crop, with production contracts including an act of God clause. Maple peas see old crop bids around $12.00 per bushel delivered for Mosaic varieties, while Blazer and Acer types are trading more on a hand-to-mouth basis, making it worthwhile to check in for current opportunities if holding those varieties. Yellow peas are trading between $8.00 and $8.50 per bushel FOB farm, with the higher end of the range typically requiring proximity to the buyer’s plant. Off-spec and feed peas continue to find demand, offering an opportunity to move remaining inventory ahead of new crop.

Lentil markets remain focused on the development of El Niño and the progression of India’s monsoon season. Delayed rains and extreme heat in parts of India are raising concerns about crop conditions, which could influence Canadian pricing as we move toward harvest. Locally, #2 red lentils are trading between $0.25 and $0.26/lb FOB farm depending on location, with new crop values around $0.24/lb delivered plant including an act of God clause. Old crop large green lentils are in the $0.23–$0.24/lb FOB farm range for #2 quality, while some buyers are showing interest in Extra #3 product around $0.20–$0.21/lb FOB farm. Small green lentils continue to move, with #1 grades quoted at $0.18–$0.19/lb and #2s seeing interest around $0.14–$0.15/lb FOB farm. For lower grades or feed quality lentils, it remains worthwhile to explore pricing options based on individual quality and location.

Canaryseed continues to trade within a narrow range as seeding progresses. Buyers appear comfortable at current levels, with export demand steady but not accelerating. Prices are holding in the $0.19/lb FOB farm range, with movement now stretching into the summer. Occasional shorter-term opportunities do surface, with bids appearing sporadically for quicker movement, so having firm offers in place can help capture those opportunities. With larger carryout stocks continuing to cap the market, putting targets forward remains a practical strategy. While there is ongoing discussion around reduced acreage, buyers do not appear overly concerned at this stage. It is also worth considering having canaryseed tested, as there have been some unexpected issues with ergot showing up in certain areas.

Soybean futures have trended lower over the past 10 days, with July futures falling to around $11.86 USD at the time of writing, down roughly 50 cents from three weeks ago. Increased seeded acreage in the U.S. and other regions has been a key factor weighing on prices. Locally, soybean bids are around $14.15 per bushel picked up on farm in southeast Saskatchewan, with new crop #2 bids closer to $13.50 per bushel for fall and early winter delivery. It is important to note that new crop soybean contracts typically do not include act of God coverage, leaving some production and quality risk with the grower. Faba bean pricing remains relatively unchanged, with export bids around $8.00 per bushel and feed values closer to $7.50 per bushel. The edible bean market has been quiet in recent weeks, though some buyers remain interested, so it may be worthwhile to reach out and explore pricing opportunities based on available supply.

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.

Barley markets remain relatively quiet this week, with limited traction from the sell side. That said, the pricing continues to present opportunities worth strong consideration. Current indications range from $5.25 to $6.00 per bushel FOB farm for June/ July movement. Given current supply and demand dynamics, moving old crop into this window remains a sound approach. New crop interest persists around the $5.00 per bushel mark, with act of God contracts available for up to 30 bushels per acre. Seeding delays in parts of the Prairies provides potential for increased barley acres as producers look for shorter season options. Locking in a portion of expected production at these levels not only secures historically pricing, but positions growers for early shipping come fall. The inclusion of act of God contracts, covering both tonnage and quality, provides additional flexibility. While discount schedules apply for lighter weight and higher moisture product, this option eliminates the risk of a buyout.

The pea market remains largely unchanged week over week, with yellow peas being the only market segment showing some improvement. Old crop yellows have a few options around $9.00 per bushel delivered, with picked-up pricing ranging from $8.00 to $8.50 per bushel contingent on location. New crop values remain steady at $7.00 to $8.00 per bushel picked up, with act of God contracts available. There is also a new crop glyphosate- and glufosinate-free program in southeast Saskatchewan indicated in the $8.00 to $8.25 per bushel range picked up, though slightly higher firm targets may attract some attention. Old crop green pea  bids have softened again, with values now around $10.00 per bushel delivered, while new crop values are sitting near $9.50 per bushel delivered. Maple peas are quieter this week, with some old crop opportunities around $12.50 per bushel delivered depending on variety, while new crop bids are more subdued at approximately $10.00 per bushel.

The oat market continues to face pressure from carryover stocks, and with seeding delays in the northern and eastern regions, there is potential for additional acreage to shift into oats, adding further downside pressure. Old crop values for delivery into Manitoba are quoted around $4.20 per bushel, while new crop bids into Manitoba are near $4.30 per bushel delivered. Saskatchewan delivery options are also available, with bids closer to $3.50 per bushel delivered. Feed/ sample grade oat markets have been generally uneventful, but sporadic opportunities do seem to pop up. Growers are encouraged to have their specs on hand and consider using firm targets to try and capture these one-off trades/ programs.

Flax exports into China have increased, with additional bulk shipments expected to move into Europe in the near term. Prices have remained relatively flat over recent weeks, ranging from $17.25 to $18.00 per bushel picked up. New crop pricing appears capped around $16.00 per bushel FOB with an act of God clause. Old crop values are expected to gradually soften toward fall levels. For those looking to move flax ahead of new crop, current pricing likely represents a solid opportunity. Carryover stocks are beginning to weigh on U.S. crusher bids, contributing to softer spot markets. Looking ahead, flax acreage could increase for the 2026/27 crop year, raising the risk of oversupply and additional price pressure. Sustained support will likely depend on stronger demand from China. Yellow flax continues to hold firm, with old crop values in the $22.00 to $24.00 per bushel range and new crop bids between $19.00 and $20.00 per bushel FOB.

Wheat markets have seen a modest rally following the latest USDA report. Reduced supplies and lower domestic use are helping support prices, along with ongoing concerns around growing conditions in the U.S. Plains. Local values are hovering around $8.70 per bushel delivered for #2 HRS, although the market remains volatile, and it is advisable to check in for daily pricing updates across all grades. The global outlook for the 2026/27 crop year points toward lower supplies and consumption. In addition to reduced U.S. production, Argentina, Australia, and the EU are also projecting smaller ending stocks. Despite this, price upside remains somewhat limited until there is clearer visibility on spring crop development across other key global regions.

With current chickpea markets remaining largely stagnant, attention is beginning to shift toward the 2026–27 crop year. Acreage is forecast to increase by as much as 6%, although current weather challenges could alter those expectations. Large global pulse inventories continue to weigh on the market, even as demand remains steady, with Canadian chickpea exports reaching record levels. Key buyers such as the United States, Turkey, and Pakistan continue to drive demand. India remains the most influential player in the global chickpea market, but its large domestic crop and ample supply are limiting the potential for a meaningful price rally. Overall, demand is strong enough to prevent further downside, but global supply levels remain comfortable, keeping a lid on any significant upside in both nearby and new crop markets.

ICE canola futures were modestly higher Wednesday morning following Tuesday’s strong rally, although both the old crop July contract and new crop values slipped slightly later at the time of writing. Outside market influence remains mixed, with weaker crude oil weighing on the Chicago soy complex, while Malaysian palm oil has traded mostly steady and European rapeseed has posted slight gains. July canola continues to hold above key moving averages. Crush margins have softened in the nearby July position but improved for new crop contracts. ICE July canola futures pushed closer to the $755 per tonne level, supported by weekly export volumes surpassing 300,000 tonnes, marking a crop-year high. Across the Prairies, cool and wet spring weather has caused some seeding delays, and farmer sentiment remains cautious. At the time of writing, July futures are sitting at $751/mt, with January futures at $767.60/mt.

Mustard seeding is beginning to wrap up in some growing areas, even with less-than-cooperative weather conditions. Growers are generally reporting adequate moisture to get crops off to a solid start. Wind has been a challenge in the south, although recent rain showers across southern Saskatchewan and Alberta have been beneficial. Buyers have made few adjustments to pricing over the past week, though new crop activity could begin to pick up as the crop emerges. Old crop mustard values continue to trade sideways, with #1 yellow mustard around 39 to 40 cents per pound picked up, brown mustard at 35 to 36 cents, and oriental mustard near 36 cents. Lower grade product should still be discussed to identify potential marketing opportunities. New crop values are holding at 40 to 42 cents per pound for yellow mustard, 35 to 37 cents for brown, and 34 to 36 cents for oriental, depending on pickup timing. If additional seed is needed due to frost or wind damage from recent weather, it may be worth checking in for available supply in the west.

Soybean futures have been quieter this week following a week of more active trade, with price movement becoming more subdued. Markets have softened slightly midweek, influenced in part by updated projections showing higher Brazilian soybean exports for 2026 than previously expected. Local bids remain in the $14.00 to $14.50 per bushel range, consistent with last week, for those still holding product in the bin. Local trade activity has been relatively light, as on-farm supplies are limited and buyers are not aggressively pursuing additional coverage. Faba bean growers can expect bids in the mid-$7.00 per bushel range, with little fluctuation in that market recently. For those with edible beans either in storage or currently being planted, it may be worthwhile to reach out to discuss potential pricing options on both new and old crop specific to your farm.

Lentil markets remain largely unchanged from last week. Large green lentils continue to trade in the $0.23–$0.24/lb FOB farm range, with movement extending as far out as August. Small green #1 grade lentils are indicated in the $0.18–$0.19/lb FOB farm range, while #2s are proving more difficult to move, as the market remains backed up with product that did not meet production contract specifications. Small green lentils remain relatively quiet, with limited buyer interest at this time, but periodic sales opportunities do exist. Red lentils continue to be the standout, with trades occurring between $0.25 and $0.26/lb FOB farm on old crop, with indications around the mid 20’s including an act of God for new crop. Interest in reds is being supported by concerns around potential El Niño impacts in India and Australia.

Canaryseed is trading steadily in the $0.19–$0.195/lb FOB farm range for June movement. The market appears unlikely to see much upward movement in the near term due to a larger-than-normal carryout. Even with some discussion around reduced acreage, buyers do not appear overly concerned, as new crop pricing is currently in line with old crop values and carryover stocks should alleviate concern over short supply this coming season. There are also increasing concerns from buyers regarding ergot presence in canaryseed in certain regions, particularly across southwestern and west-central Saskatchewan. Before marketing, it may be worthwhile to have grain re-tested, as allowable ergot levels are limited to 0.04%.

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.