Old crop feed barley values remain strong, with bids ranging from $5.50 to $6.00/bu FOB farm in Saskatchewan, contingent on location. Bids include reasonable delivery windows with most purchasers targeting a May/June pickup timeline. These prices are worth serious consideration as the spread between old and new crop continues to narrow. New crop indications remain steady around $5.00/bu FOB farm on a DDC contract in most areas, though freight advantageous locations may see slightly stronger values. On the malt side, not much has changed as maltsters continue to show little interest in contracting old or new crop at this time. That said, having specs on hand and targets set may work in your favor if a window of opportunity arises.

The oat market has seen little movement in value over the past week. Old crop bids continue to hover around $5.00/bu delivered for good quality #2CW oats. Interest in light and/or feed oats is still seen as well with trade taking place in the high $3/bu  FOB farm range this week. Specific on farm pricing is available, but rates vary significantly by region, so it’s best to call in for a tailored quote. New crop pricing is in line with old crop generally speaking, but shipping windows are being pushed into 2026 in some cases, suggesting buyers have decent coverage. Now could be a good time to price any remaining oats as buyers may hold off on any major purchases as we near harvest, choosing to wait on the upcoming crop.

Seeding is underway in many areas, and current reports now indicate a 16% reduction in pea acres, reversing earlier expectations of an increase. This shift is largely due to tariffs disrupting markets and ultimately influencing grower plans. Rumors continue that China may reconsider its 100% tariff on peas, though nothing has been confirmed. India, with high domestic pea stocks, has until May 31^st to decide whether to reinstate its tariff, and unfortunately, current signs point toward that happening—though nothing is ever certain. Seasonally, we typically see a softening in pea prices at this time of year, and current demand supports that trend. Spot yellow peas are priced at $10.75/bu delivered; speak with your merchant for a FOB farm price. New crop yellow peas are trading at $8.50–$9.00/bu FOB with act of God. Green peas are indicated at $16.00/bu delivered for a #2, while new crop sits at $12.50/bu FOB with act of God. Maple peas remain quiet, with both old and new crop indications at $12.00/bu FOB.

Flax prices remain firm as supplies tighten heading into the 2025 crop year. Demand continues from both the EU and China, supporting spot bids of $20.00/bu FOB farm for prompt shipping, and possibly some flexibility for later movement. These prices are expected to remain strong for now, but we could see spot and production values converge as planted progresses. New crop contracts hold at $17.00/bu picked up with an act of God. While some key production regions may see increased seeded acres, limited carry-over is expected to keep values supported. Russian flax continues to supply the Chinese market, but rising global demand is also bolstering Canadian values. If you need last-minute seed adjustments, call your merchant to discuss options.

Chickpea markets remain steadfast, largely focused on old crop bushels with sporadic trade hitting the books over the past week. Product with 40% or higher 9mm sizing has traded at $0.39-$0.40/lb, while a spread of $0.05–$0.06/lb exists for chickpeas with higher percentages of 7 and 8mm sizes. New crop values are indicated around $0.34/lb on farm with an AOG, but grower interest in forward contracting remains low. Growing conditions in chickpea regions are mixed—some areas are still too wet, while others have completed seeding and are waiting on rain. There is still uncertainty around total acres to be planted, which will be a key factor in forecasting market direction.

July futures on old crop canola are putting on a bit of a show, flirting with the $700/MT mark. At the time of writing, the market is sitting at $689.80/MT, a slight dip from earlier in the week. Delivered prices for May movement range between $15.30 and $15.40/bu. The market remains firm, supported by expectations that old crop supplies will be nearly depleted before new crop becomes exportable. Fall new crop values are currently around $14.00/bu delivered, with a roughly $0.15/bu premium available for December delivery. If you’re considering pricing opportunities—delivered, FOB, or target offers—get in touch with your merchant.

The canary seed market remains range-bound, with current bids holding around 29 to 30 cents/lb FOB farm for fairly quick May shipping. Target offers have proven effective lately, especially for those looking to move larger volumes from the yard. New crop bids are sitting at approximately 27 cents/lb FOB farm, including an Act of God clause, with buyers generally looking to contract the first 10–15 bushels per acre. As seeding progresses, it could be a good time to consider locking in more old crop while values remain firm and still show a positive spread to new crop.

The mustard market has been flat over the past week, but still encouraging to see the recent gains holding steady. While current levels may not be ideal, the market feels more stable as old crop continues to trade in a slow but consistent fashion. Brown and oriental mustard are being bid at $0.34 to $0.35/lb FOB for both old and new crop, with some room for targets to hit $0.36/lb in certain cases. Old crop yellow mustard is fetching $0.44 to $0.45/lb FOB, while new crop is slightly higher at $0.45 to $0.46/lb including Act of God. Submitting an offer on new crop could be a smart strategy in today’s environment.

Soybean futures have remained within a tight 20¢ USD trading range since mid-month and are now trending toward the lower end. Pressure is coming from a rapid US planting pace, Chinese goals of reducing dependence on foreign ag imports, and uncertainty around the US federal biofuels mandate. Local soybean prices are sitting between $10.50 and $10.75/bu at the farm gate. StatsCan is projecting an 11% drop in dry bean acres, down to 357,000. International interest has picked up amid trade tension, while Mexico is reporting lower yields on its winter crop. Dry beans are priced between 40 and 45 cents/lb delivered, with some specialty classes reaching 55 cents. Faba bean export interest remains limited, with bids around $9.00/bu FOB farm for export quality and $8.00/bu for feed. However, a recent price surge in Australian faba beans could boost demand for Canadian product.

Wheat futures slipped further this week, with July contracts hitting some of the lowest levels seen in over six months. Despite the decline, bids for #1 CWRS with 13.5% protein are still showing just over $8.00/bu in some locations, slightly weaker than last week. Feed wheat prices remain mostly unchanged, averaging around $7.50/bu FOB farm, with freight influencing the final value. If you’re aiming to improve your feed wheat values, submitting a firm offer may help squeeze a bit more out of the market. Durum is still fetching around $9.00/bu in select areas on old crop, but new crop bids have been scarce over the past couple of weeks.

Lentil markets remain unchanged from last week. Red lentils continue to trade in the 33 cent/lb range in the spot market, while new crop bids still sit around 29 cents/lb. Recent old crop large green lentil trades have been seen at 48-50 cents/lb for old crop, while new crop indications remain at 41–42 cents/lb, including an Act of God clause. Large green lentil pricing for old crop is becoming harder to pin down as buyer interest slows and new business remains limited. Small green lentils are trading at 43–44 cents/lb for old crop and 37–38 cents/lb for new crop. The lentil market currently shows no signs of immediate price movement, but spot markets could slowly inch closer to production contract values as seeding progresses and harvest nears. The next major influences will likely be the upcoming seeded acreage report and overall weather conditions through May and June.

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.