The wheat market dipped into the red today, putting some downward pressure on bids. CWRS with 13.5% protein is sitting around $8.20/bu delivered into central Saskatchewan, while CPSR is closer to $7.85/bu. Soft white wheat remains in demand, with buyer interest around $7.50/bu picked up in central Sask. Feed wheat values remain solid, ranging from $7.25 to $7.75/bu picked up, with stronger bids showing up near Alberta feedlots. U.S. spring wheat planting is moving quickly, with 17% of acres seeded—well ahead of the five-year average. As for durum, old crop interest is floating around $9.00/bu, though new crop bids are a bit softer. Overall, wheat continues to move along steadily, with global trade dynamics, tariffs, and currency shifts, all keeping market participants cautious.

The narrative is stuck on repeat when it comes to the pea market, with no significant changes to report this week. An unresolved Chinese tariff situation translates to steady pricing with no major shift in market dynamics. Old crop yellow peas are still trading around $10/bu FOB, with decent buyer interest, creating potential opportunities for strong values to trade on firm offer. New crop yellow peas are holding at $9/bu FOB with act of God, in light trade, with minimal demand seen. Green peas are sitting at $16/bu delivered for product grading #2 with a maximum of 3% bleach, though growers may capture $16/bu FOB in freight advantageous areas. New crop values are indicated around $12.50/bu FOB with act of God. Maple peas remain very quiet, with limited buyer interest and few bids circulating. Finding a home for maples is not impossible, but value expectation must be adjusted from pre-tariff levels.

The oat market continues to see a minimal change in demand and trade this week. Old crop pricing remains at a high of $5/bu delivered and growers are encouraged to reach out to their merchant for picked-up values, as they will vary by location. New crop bids are nearly identical to old crop, with movement pushed into late 2025 and, in some cases, early 2026. If you still have feed or light oats in the bin, we’ve seen a slight uptick in interest from a handful of purchasers. Movement for this type of product looks to be possible over the next couple of months. Call with weight specs for a firm on farm bid.

Status quo seems to be the common theme in the canaryseed market lately. Current bids remain around $0.29/lb FOB farm for May–June shipping, with buyers working to move product sooner than later. Floating a firm offer out slightly over market hasn’t been overly successful lately, but if interest can sometimes be sparked on a fluctuating Canadian dollar, so having targets available never hurts. New crop indications remain around $0.27/lb FOB farm (including act of God), with buyers willing to contract the first 10–15 bushels per acre. Overall, it seems most buyers are fairly comfortable with both old and new crop positions. As seeding progresses, locking in a bit more old crop might be a smart move to secure delivery timelines as harvest creeps closer.

Canadian flax movement continues to be strong, with shipments increasing since March. Seasonal exports to the EU through Thunder Bay have been a primary driver behind firmer pricing over the past month. Imports into China have also remained steady, with Canadian volumes slightly stronger since September. Although Russia still supplies the bulk of China’s flax, the overall strength in global demand is a positive indicator. Old crop flax prices are holding around $20.00 per bushel FOB farm, with some flexibility possible on extended movement windows. New crop bids are sitting at $17.00 per bushel picked up with an act of God – a great value to consider locking in 10bu/ac. As old and new crop bids eventually converge, it could be a good time to price out any remaining old crop. Analysts anticipate a modest increase in Canadian seeded acres for 2025/26, while the USDA is projecting a 25% increase in U.S. flax acres year-over-year. Even with this projected expansion, supplies are still expected to remain relatively tight.

Mustard markets have shown little change over the past 7 to 10 days. Old crop bushels are still trickling out, but with expectations for lower seeded acres in the coming season, many sellers appear to be holding off in anticipation of improved bids. Old crop yellow mustard is trading at $0.44 to $0.45 per pound FOB farm, while new crop sits slightly higher at $0.45 to $0.46 per pound, including an Act of God clause. Brown and oriental mustard are being bid at $0.34 to $0.35 per pound FOB for both old and new crop, with some potential for target offers to trigger at $0.36. The U.S. tariffs remain a significant concern as we move through the current 90-day reprieve period. What comes next is weighing heavily on both buyers and sellers. There’s still room for crop planning adjustments, and seed is available if a shift in acres is being considered. Reach out for more details.

StatCan is estimating an 8% increase in Canadian chickpea acres this year. With current prices having stalled, the market may be looking at a higher carryout compared to typical year-over-year levels. This suggests a generally flat market ahead, though there could be minor spikes when opportunities arise. Export demand remains strong, with the most recent monthly total being the highest in the past year, primarily going to Pakistan and the United States. Despite this, the looming possibility of tariffs has kept new crop contracting slow, as the U.S. remains a key trading partner. Old crop prices are hovering around $0.33 to $0.35 per pound FOB farm for standard minimum 20% 9mm product. Growers with percentages of 9mm product over that mark and low 7mm counts, may capture a few cents more. New crop values are sitting at similar levels, but very little trade is taking place. Given the limited likelihood of a major price swing, the best strategy remains setting a realistic target and being patient.

Soybean futures are still moving within last week’s range, but there’s fresh optimism in the market. Stronger-than-expected export numbers and increased domestic crushing demand are providing a lift. Looking forward, expectations for reduced U.S. plantings and slightly tighter supplies are also offering support. Local farm gate soybean prices are currently sitting between $11.25 and $11.50 per bushel. In dry beans, Statistics Canada is projecting an 11% drop in seeded acres, bringing the total to around 357,000 acres. This comes as recent trade tensions have generated renewed interest from international buyers. Dry bean pricing is steady, with most product fetching around 40 to 45 cents per pound delivered. Smaller specialty classes continue to see higher values, reaching up to 55 cents delivered. Faba bean export interest remains limited, with current bids around $9.00 per bushel at the farm gate for top-end quality. Feed grade faba beans are being priced closer to $8.00 per bushel. However, the recent rally in Australian faba bean values could open new doors for Canadian exports in the weeks ahead.

For the 2025–26 crop year, barley acres are expected to rise, driven by more favorable input costs and consistent yield potential. Canadian production is projected to come in higher than last year and more in line with long-term averages. Despite this, carryout is forecasted to fall below the 10-year average due to solid demand. As a result, the market remains particularly sensitive to any yield concerns as the growing season unfolds. Old crop feed barley bids are ranging from $5.00 to $5.50 per bushel FOB farm, depending on location. New crop feed barley is trading around the $5.00 mark FOB farm and slightly better in some areas. On the malt side, demand has slowed in recent weeks, with new crop bids falling in the $5.50 to $5.75 per bushel range FOB farm.

Canola prices have moved mostly sideways over the past week, taking a breather after the strong late March rally when May futures climbed from $550/MT and settle around $675/MT. Today, July futures are carrying a $7/MT premium as we begin the transition from May, though local basis adjustments are generally balancing that out. Delivered bids are hovering near the $15/bu mark, varying slightly depending on the delivery window, purchaser and location. There are FOB farm options available as well, so if you’d rather go the picked-up route, touch base with your merchant for an on-farm bid. Firm targets are drawing attention right now, as buyers are doing the math to make deals work.

Green lentil markets continue to soften under the pressure of an expected increase in acres, recovering pigeon pea markets, and tariff considerations. While StatsCan initially predicted a 1% decrease in seeded acres, most analysts now anticipate a bump, particularly in small and large green lentils, based on increased seed sales and the strength of early new crop pricing this past winter. With old and new crop prices separated by 10–12 cents, buyers don’t show a lot of aggressive purchasing, likely relying on existing inventory to carry them into new crop. This could lead to hand-to-mouth sales wrapping up the current crop year. Red lentils, on the other hand, have held relatively steady. Demand is sufficient to support current values, though not strong enough to push them higher. Even with a projected decline in seeded acres, upward price movement may be limited due to ample global supply options. Old crop red lentils are trading at 33.5 cents delivered, while new crop sits around 29–30 cents/lb FOB farm with Act of God protection. Large green lentils are priced at 50–51 cents/lb delivered for old crop and 40–42 cents/lb FOB farm for new crop with Act of God. Small green lentils are trading at 44 cents/lb FOB for old crop and around 35 cents/lb for new crop with Act of God. If you’re still looking for seed, get in touch—we’ll do our best to get you what you need.

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.