Barley markets remain relatively flat this week, with limited sales hitting the books. Old crop values are holding steady across the Prairies, generally ranging from $5.25–$6.00/bu FOB farm depending on freight and delivery timing. Spot malt activity is still quiet, with little in the way of firm bids or structured programs, although maltsters have indicated a potential willingness to buy if presented with firm offers. On the new crop side, demand and pricing hold firm, particularly on feed barley programs. Uncharacteristically for the feed market, one buyer is offering Act of God contracts this year for up to 25 bushels per acre. September shipping bids on this program sit around $5.00/bu FOB farm with potential premiums for later delivery. These programs also include quality protection, meaning lower test weight or high moisture barley will still move under a defined discount schedule. With uncertain spring weather and potential acreage shifts, locking in a portion of production for guaranteed pricing and movement remains a strategy worth considering.

Flax supplies remain comfortable, with expectations for some carryover into the 2026/27 crop year. Canadian exports continue to move steadily into the U.S., though competition from the Black Sea region into Europe and China is expected to cap prices. Recent shipment activity has helped support values in the $17.50–$18.00/bu picked up range for old crop. New crop demand is quieter, with indications closer to $16.00/bu FOB farm. As seasonal trends take hold, old crop values are expected to gradually align with new crop pricing, suggesting this is a reasonable window to market stored inventory intended for near-term movement. Increased global acreage and the potential for strong yields could further pressure pricing down the road.

Canaryseed prices are holding firm in the $0.19–$0.195/lb picked up range for both old and new crop. With projected carryover stocks nearly doubling from last year, the market remains well supplied. Current projections suggest there is enough inventory from the 2025 crop to cover much of the 2026/27 export demand. That said, recent shipments into Mexico have picked up, allowing some movement off farm. With other commodities facing slower movement windows, canaryseed may present a more immediate cash flow opportunity. Upside potential appears limited, so capturing available bids when they arise remains the practical approach.

Canola markets have strengthened significantly this week, with July futures gaining roughly $20/MT from Monday through Wednesday. The rally is largely being driven by higher crude oil prices, reinforcing the connection between canola and the broader energy complex. While this supports oilseed values, it also introduces volatility, as any pullback in crude could quickly reverse gains. Current bids are reaching approximately $16.75/bu delivered for May through August movement across parts of Saskatchewan. For those looking to move grain or set target prices, working with a merchant to tailor FOB farm bids or capture additional upside remains a good strategy.

The chickpea market continues to hold steady across North America, with strong demand for high-quality, large Kabuli types supporting pricing. Current values for #2 chickpeas are around $0.27/lb picked up on farm, with new crop indications near $0.25/lb. In contrast, the Indian market remains weaker due to slower buying despite supply not being overly burdensome. High volumes of lower-quality on farm stock continue to pressure feed markets with indications around $0.09-$0.10/lb FOB being shown for high damage and/or green count product. A projected 7% reduction in U.S. chickpea acres (to 499,000) is providing some underlying support, while limited availability of top-quality product is helping stabilize pricing.

Pea markets continue their typical seasonal softening trend. Yellow peas are trading around $8.40–$8.50/bu delivered, while green peas are holding near $10.00/bu delivered. Maple peas range from $11.00–$12.00/bu picked up, depending on variety. Export prospects have improved slightly with ongoing demand from China and India, although potential increases in Russian acreage could add competition, particularly into China. New crop values remain relatively unchanged, with yellows at $7.00–$8.00/bu, greens around $9.00/bu, and maples between $10.00–$11.50/bu picked up.

Oat markets continue to show decent demand overall, though ample supply seems to have values capped and actual trade activity remains slow. Old crop pricing ranges from approximately $4.20/bu delivered into Manitoba for #2 CW oats to around $3.50/bu delivered within Saskatchewan. Feed oat pricing varies based on quality factors such as weight and overall condition, with opportunity to make sales available. Pricing is a moving target on feed quality oats, largely dependent on specifications. We encourage growers to reach out to their merchant for tailored FOB farm bids. New crop values are being indicated around $4.25/bu delivered for October through December movement into Manitoba markets, which can be adjusted accordingly to picked up values on the farm across the Prairies.

Mustard markets remain mostly flat this week as seeding activity begins to ramp up across southwestern Saskatchewan and southern Alberta. Yellow mustard is trading in the $0.38–$0.40/lb FOB farm range, while brown mustard has shown some improvement in recent weeks, now sitting around $0.35/lb, with opportunities potentially reaching $0.36/lb for later movement. Oriental mustard remains steady near $0.38/lb. New crop pricing continues to show strength, with yellow at $0.40–$0.42/lb, brown at $0.34–$0.36/lb, and oriental in a similar range. All contracts include an Act of God clause on 10 bu/acre. For those still finalizing plans, last-minute seed availability may still be an option.

Saskatchewan wheat markets continue to hold strong, with spring wheat futures reaching their highest levels since August 2025 and local cash bids near marketing-year highs. Support is coming from export volumes running roughly 5% ahead of last year’s pace, along with ongoing concerns around U.S. winter wheat conditions. Seeding progress across the Prairies has been slowed by cool, wet weather and lingering snow, while drought in key U.S. regions continues to underpin the market. Globally, production uncertainty remains elevated, with lower expected output in 2026/27 and quality concerns in regions like India. While larger crops in Russia and Argentina, along with solid North African durum production, may limit upside, reduced acreage in North America and the EU, combined with higher input costs, are tightening the outlook. Markets remain highly weather-driven as attention shifts from marketing to planting. Current bids for #2 red spring wheat (13.5% protein) are around $8.40/bu delivered into central Saskatchewan, while feed wheat holds between $6.25–$7.00/bu picked up on farm.

Lentil markets are mixed and somewhat disjointed this week. Select opportunities for No. 2 large green lentils have reached as high as $0.25/lb delivered, though these are inconsistent and tied to limited tonnage and summer movement. As the crop year winds down, buyer focus is gradually shifting toward new crop, which is being priced in the $0.24–$0.25/lb range and is likely to pressure old crop values. Small green lentils remain quiet, with No. 1s trading up to $0.20/lb delivered and No. 2s around $0.175/lb. New crop small greens are ranging from $0.20–$0.23/lb FOB farm, with higher values tied to niche programs such as gluten-free contracts and area. Red lentils continue to trade steadily in the $0.24–$0.25/lb range for both old and new crop. With expectations for increased red lentil acres in Canada and Australia, additional supply could weigh on pricing moving forward, making this a market to monitor closely.

Soybean markets remain rangebound, with futures influenced by large South American supplies and subdued Chinese demand. A cooler spring across Saskatchewan and Manitoba could delay planting and provide some short-term support to nearby bids. Basis levels across the Prairies remain firm, reflecting limited farmer selling and steady demand. Local bids are currently in the $13.00–$13.25/bu FOB farm range. Dry edible bean markets are quiet but supported, particularly for smaller classes with tighter carryover and consistent export demand into Mexico and the United States. New crop pricing for larger classes remains cautious as growers weigh returns against competing crops. Faba bean demand continues to build in both feed and fractionation sectors, supported by ongoing investment in plant protein capacity across Western Canada. Tight old crop export supplies are supporting bids near $8.00/bu, while feed-grade product is trading closer to $7.50/bu 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.