Barley markets continue to show values that warrant strong consideration for sales. Old crop bids are ranging from $5.25–$5.90/bu FOB farm, depending on freight lane and delivery timing. With an anticipated increase in acres and 2026 seeding approaching quickly, moving remaining inventory makes sense. Carrying old crop in hopes of a rally appears unlikely given current seeding intentions and ample supply expectations. New crop barley continues to be indicated around $5.00/bu FOB farm, with some areas seeing slightly stronger bids. Pricing 10–25% of expected production remains a practical strategy on a DDC contract (no AOG). Even with concerns around test weight and moisture, locking in today still provides value, as standard discounts are built in and will apply regardless of when the grain is marketed. Malt markets remain quiet, but firm offers with specs in hand may help uncover opportunities.

Chickpeas continue to trade sideways this week, with little change from recent reports. Old crop No. 2 chickpeas are holding around $0.26–$0.27/lb FOB farm for standard sizing, while discounts for off spec and smaller sized product are likely still attainable. With significant carryover still expected, buyers remain patient and are not pushing bids higher. New crop chickpea contracts are being quoted at $0.25–$0.26/lb FOB farm, including an Act of God clause and while pricing may not be overly attractive, locking in some tonnes for early movement could help with cash flow at harvest. Sample grade and feed chickpeas continue to see bids around $0.10/lb FOB farm, though values remain highly dependent on specifications.

The pea market remains quiet with little change. Old crop yellow peas are around $8.50/bu delivered, with select opportunities—particularly in Alberta—showing up to $9.00/bu picked up. New crop yellows remain in the $7.00–$8.00/bu picked up range with an Act of God clause. Old crop green peas are trading between $10.00–$11.00/bu delivered based on a maximum 3% bleach, while new crop values are $8.50–$9.00/bu picked up with an Act of God. Maple peas are holding at $11.00–$12.00/bu picked up depending on variety, with new crop values around $10.00–$11.00/bu.

Flax prices are mostly sideways this week, ranging from $16.25–$17.50/bu picked up, depending on quality, location, and delivery timing. Export movement has improved slightly, with product flowing primarily to China and the U.S., helping ease some anticipated carryover. However, large inventories in Kazakhstan and softer Russian pricing continue to cap upside. New crop flax bids remain largely unchanged at the $16.50/bu FOB farm range including an AOG. Yellow flax old crop values hover around $22-$23/bu with certain varieties continuing to attract more buyer interest. New crop demand seems to have cooled off from a couple weeks ago, but growers are encouraged to use firm targets to try and secure 2026/27 production contracts.

Canaryseed markets remain flat, with ample supply continuing to weigh on pricing. While acreage is expected to decline slightly for 2026/27, it has not yet impacted the market as a large carryover is anticipated, likely to make-up any minor shortfalls in production. Both old crop and new crop bids are hovering around $0.20/lb delivered plant, with FOB farm options and Act of God clauses available. Lackluster markets and pricing is anticipated to continue unless major production issues arise.

Canola markets are under pressure to start Wednesday following news of a ceasefire in the Middle East. Crude oil reacted lower, pulling down vegetable oils and rapeseed, which in turn pressured canola futures. May futures are currently at $705.90/MT and July at $719.20/MT, both down more than $13/MT from the open. Locally, Northwest Saskatchewan is seeing $15.45–$15.60/bu delivered for May through July movement, depending on timing. In Eastern Saskatchewan, May delivery is around $15.40/bu, with new crop values ranging from $15.45–$15.65/bu delivered for November–December, including carry into early 2027 shipping. For FOB farm pricing or off-spec canola, connecting with your merchant remains the best approach.

Mustard markets continue to move at a quiet pace, with little change in old crop trade activity. Bids remain steady, while discussion shifts toward how many acres will actually be seeded this spring. Spot pricing remains relatively unchanged, with yellow mustard around $0.37/lb, brown in the $0.30–$0.32/lb range, and oriental near $0.38/lb picked up in the yard. There may still be small opportunities to capture slightly stronger values on yellow and brown with firm offers. Lower quality product from last year can also be marketed, with buyers available depending on specifications. A small, but notable, uptick in new crop bookings were seen over the past week despite values holding steady. Yellow is bid around the $0.40/lb range, $0.34–$0.37/lb for brown, and $0.36/lb for oriental, all including an Act of God clause. While the window for free delivery to farm is narrowing, seed is still available for those finalizing seeding plans.

Oat prices have not moved significantly in recent weeks, though there has been a slight improvement in buyer interest, with a few more purchasers stepping in to secure coverage for the coming months. Much of this demand appears to be directed toward eastern markets, but producers with good quality No. 2 milling oats should consider discussing picked-up pricing options with their merchant. While prices themselves have not seen a meaningful increase, improved buyer interest and the ability to move tonnage is a positive shift compared to the quieter conditions seen previously. New crop fall pricing remains largely in line with the spot market. Despite relatively flat values, oat acres are still expected to hold steady or see modest support, as rising fertilizer costs continue to make alternative crops less attractive in comparison.

Saskatchewan Crop Insurance has released its 2025 lentil yield estimate at 30.5 bu/acre, roughly 2 bu/acre higher than previous estimates from Statistics Canada. This revision adds an estimated 260,000 tonnes to total production, further increasing already burdensome supplies. As the market moves into the final four months of the 2025/26 crop year, the key question remains whether demand will be strong enough to offset this additional volume. The lentil market was already facing a larger-than-normal carryout, and this updated production figure adds further pressure. This helps explain the recent softness in both large green and small green lentil markets, where pricing has weakened over the past few weeks. In contrast, red lentils have remained relatively stable to slightly stronger, supported by continued buying interest from India, sourcing product from both Canada and Australia. New crop pricing remains limited, as buyers show reluctance to commit too far forward. Uncertainty around freight costs, export logistics, and broader market conditions continue to keep activity subdued. Current old crop values are sitting around $0.25/lb FOB farm for red lentils, though heavily freight dependent. Large green lentils are near $0.24/lb FOB farm, while small greens are trading in the $0.19–$0.20/lb FOB farm range. For new crop opportunities, discussing a tailored marketing plan with your merchant remains the best approach.

Wheat futures have come under pressure, driven by easing geopolitical tensions, improved moisture forecasts in the U.S., and a slight slowdown in Canadian export pace. Demand has also shifted somewhat toward competing crops like canola and barley. Globally, crop conditions remain generally stable across Europe and Russia, though dryness persists in areas such as Poland, Ukraine, and parts of the U.S., where ratings are still below average. In Canada, seeding progress is slightly behind due to cooler weather but is not currently a major concern. U.S. wheat acreage is projected to decline to record lows despite ample global stockpiles. Looking ahead, markets are expected to become increasingly weather-driven, with steady demand and modest tightening in global supplies contributing to a more balanced outlook. Durum prices remain flat, with strong North African production prospects potentially limiting import demand. In western Canada, No. 2 CWAD durum is trading around $7.75/bu delivered in west-central regions. Saskatchewan prices for No. 1 red spring wheat (13.5% protein) are around $8.00/bu delivered, while feed wheat is holding between $6.25–$7.00/bu picked up on farm depending on location and movement timing.

Soybean futures staged a solid recovery after early overnight weakness, reinforcing that the market continues to find support from strong domestic crush demand and a lower-than-expected U.S. acreage outlook. Additional support is coming from still-elevated crude oil prices and ongoing uncertainty around whether the U.S.–Iran ceasefire will hold. Local soybean bids are currently ranging from $13.15–$13.35/bu FOB farm. Dry bean markets are rebounding from multi-year lows, as lower prices have helped stimulate export demand and draw down black and pinto bean inventories. However, overall abundant supplies are continuing to cap any significant upside. Planting intentions remain unclear, though local bids have edged higher to around $0.35/lb delivered. Faba bean exports are showing improvement despite a smaller Canadian crop. That said, large Australian supplies and expected export competition are likely to limit price gains moving forward. Current farm gate bids are near $8.00/bu for No. 2 export quality, with feed-grade faba beans trading around $7.00/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.