Canaryseed continues to trade sideways this week, with no notable change in value. Old crop is currently quoted at $0.19–$0.1950/lb FOB farm for May–June movement, with buyers indicating they still have adequate sales on the back end to purchase some decent sized lots locally. Given the ongoing discussion around large carryover numbers, these bids are worth considering. New crop contracts are generally unchanged as well, sitting around $0.19/lb FOB farm, including an Act of God clause on the first 10 bushels per acre, with some buyers willing to extend that to 15 bushels/ac. Delivery is slated for the September–December shipping window and with steady seeding intentions for 2026, locking in a portion for early movement and cashflow may make sense.

Flax markets are showing strength, with old crop brown flax trading around $18.00/bu FOB farm this week. Bids are generally freight-dependent and tied to summer shipping windows but have been successful in securing sales. There are multiple buyers in the market at these levels, so using firm targets remains a good strategy to capture top end bids. New crop brown flax has seen little movement, with indications holding in the $16.00–$16.50/bu FOB farm range, including an Act of God clause. General sentiment suggests flax acres could increase this season, providing a strong argument for forward pricing the first 10bpa. Old crop yellow flax continues to command a premium, trading in the $23.00–$24.00/bu FOB farm range depending on location and delivery timing. New crop contracts are being indicated around $19.00-$20.00/bu FOB farm with an Act of God clause. Again, an increase in acres is expected and in a niche market like yellow flax, we suggest locking in the first 10bpa under production contract to manage overproduction risk and secure movement.

The chickpea market continues to show steady interest, particularly for good quality, large-sized product. Current pricing for #2 chickpeas sits around $0.27–$0.28/lb picked up on farm, based on typical sizing specifications of maximum 10% 7mm and minimum 30–40% 9mm. New crop values are being indicated around $0.26/lb picked up on farm with an Act of God clause. On the global side, supply remains comfortable across most major growing regions. Both Canada and the U.S. are expected to carry over a significant volume of lower-quality chickpeas into the next crop year, which continues to pressure the feed market, where bids are generally sitting in the $0.10–$0.12/lb range.

Wheat prices have moved higher in late April 2026, reaching some of the strongest levels seen in recent months while trading remains volatile. The rally has been driven largely by deteriorating crop conditions across the U.S. Plains, where ongoing dryness and frost risk are raising production concerns. At the same time, tensions in the Middle East continue to impact fertilizer availability and costs, adding another layer of support to the market. Prices have climbed roughly 5% on the week, backed by solid demand even at elevated levels. In the northern U.S., cool and wet conditions are delaying spring planting, further tightening outlook expectations. Overall, the tone remains supportive, though uncertainty is high, and markets are likely to stay reactive to both weather developments and geopolitical headlines in the weeks ahead.

Barley markets remain relatively steady, with firm pricing available for both old and new crop. Export demand continues to hold up well, with offshore shipments running approximately one million tonnes ahead of last year at this time. China remains the dominant buyer of Canadian barley, with Japan and Saudi Arabia also accounting for a significant share of demand. Local Saskatchewan prices are generally ranging from $5.25–$6.00/bu FOB farm, depending largely on location, with stronger bids typically seen further west. That said, competitive pricing has been available across most regions, including Southeast and Northwest Saskatchewan, as well as into Montana. For those within reach of feedlot alley, delivered old crop values are sitting near $6.60/bu for spring through summer movement, while new crop is being indicated around $6.20/bu delivered for early fall shipping.

The recent canola rally continues to track closely with crude oil, reflecting its deeper connection to global vegetable oil and biofuel markets. As energy prices rise, improved biodiesel margins are supporting canola oil demand, though this also introduces added volatility, as any pullback in crude could quickly pressure prices. With July futures trading around $739–$740/MT and cash values in the $685–$700 range, basis remains a critical factor. Markets have potential to strengthen further as Cargill ramps up its new crush facility, tightening nearby supply and improving local pricing opportunities. That said, a projected 21.9 MMT crop tempers the outlook, as favourable growing conditions could rebuild supply and erode the current weather premium tied to dry Prairie conditions. Longer term, demand remains supported by structural shifts such as reduced EU reliance on palm oil and more stable trade relations with China, helping balance the broader outlook.

Lentil markets have shown some modest improvement, with selective buying interest supporting certain classes. Spot red lentil bids have pushed past $0.25/lb FOB farm, with some grower targets reaching $0.255–$0.26/lb picked up in the right areas. New crop reds have also seen trades up to $0.24/lb picked up with an AOG, indicating early signs of renewed interest. Small green lentils are generally trading around $0.19/lb FOB farm, though some central Saskatchewan trades have reached $0.20/lb picked up where freight aligns. New crop small greens are attracting premiums up to $0.22/lb for #1 quality with an Act of God clause, which is notable given the existing carryover. Large green lentils remain quieter, with spot values typically around $0.23–$0.24/lb FOB farm for #2 quality, though $0.23/lb is more commonly traded. New crop large greens have seen interest at $0.25–$0.255/lb FOB farm with an Act of God. Firm offers continue to be one of the more effective ways to generate movement heading into summer and fall.

Pea markets remain sluggish as expectations for increased acreage this spring loom. While movement improved following China’s tariff removal, pricing has struggled to gain further traction since. In India, softer yellow pea prices—pressured by abundant chickpea supplies—are limiting upside. Current yellow pea bids are holding around $8.50/bu delivered, while green peas continue to face resistance near the $10.00/bu delivered mark, with grower FOB farm targets at that level now seeing limited interest. Maple peas remain relatively steady, trading between $11.00–$13.00/bu depending on variety. New crop indications are sitting around $8.00/bu for yellows, $9.00/bu for greens, and approximately $11.00/bu for maples FOB farm. As with other crops, offers remain key to attracting buyer interest.

Soybean markets are largely rangebound, with futures influenced by strong South American production and subdued Chinese demand. A cooler spring across Saskatchewan and Manitoba could delay planting and lend some support to nearby bids. Prairie basis levels remain firm relative to futures, reflecting limited farmer selling and steady underlying demand. Local bids are currently ranging between $13.00 and $13.25/bu FOB farm. Dry edible bean markets are quiet but supported, particularly for smaller specialty classes where carryover is limited and export demand into Mexico and the United States remains steady. New crop pricing for larger classes remains cautious as growers weigh returns against competing crops. Faba bean demand continues to build, particularly in feed and fractionation channels, supported by ongoing investment in plant protein capacity across Western Canada. Old crop export-quality supplies remain tight, supporting bids near $8.00/bu, while feed-grade product is trading closer to $7.50/bu FOB farm.

Mustard exports over the past couple of months have been largely directed into the U.S., with pricing continuing to follow typical seasonal patterns. Yellow mustard is currently trading around $0.38–$0.40/lb FOB farm, brown mustard has edged slightly higher into the $0.32–$0.34/lb range, and oriental mustard is holding near $0.38/lb. New crop values remain relatively unchanged, with yellow leading at $0.40–$0.42/lb, brown at $0.36–$0.37/lb, and oriental around $0.36/lb, all carrying an Act of God clause. With new crop bids sitting at a premium to old crop, the expectation is for a relatively flat market throughout the summer months. The traditional spread between classes is likely to persist into the 2026/27 crop year, with yellow mustard expected to continue to lead the market.

The oat market is seeing little week-over-week. The strongest bids are sitting just above $4.00/bu delivered into Manitoba for June–July movement, while central Saskatchewan values are generally quoted in the $3.50–$3.60/bu range. There has been a noticeable increase in buyer interest, although this has yet to translate into stronger pricing. Demand remains highly selective, with most buyers focused on securing high-quality milling oats rather than light weight and/or feed. Specifications continue to be strict, typically requiring 40lb/bushel or better, no glyphosate application, and minimal foreign material. While the increased buyer activity is a positive sign, meaningful price improvement will likely depend on tighter supplies of top-quality 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.