Rain continues to be an unwelcome guest as harvest nears, with some crops ready to come off but fields still too wet to get equipment in. Quality concerns are front of mind, particularly for green peas, which are more susceptible to downgrading than yellows. Even with these late rains, a larger pea crop is still expected, though possibly at the cost of quality. With export demand muted, prices have softened. Current yellow pea bids are in the $9.00–$9.25/bu range delivered, while green peas are trading at $12.00–$13.00/bu picked up in most areas. Maple peas remain stagnant, with no sign of China reopening the door to regular exports. Until export markets improve, prices are likely to remain subdued, especially if supplies turn out heavy this marketing year.

The oat market has been quiet for several months. Current bids range from $4.25 to $5.00/bu delivered to facility, with the stronger prices generally tied to winter 2026 delivery into Manitoba. The lack of milling demand suggests supply is more comfortable than earlier thought, and crop potential still looks reasonable at this point. That said, the crop isn’t in the bin yet, and there’s still room for the story to change. Feed oats have seen weaker bids, part of a broader decline in the feed grain complex. Recent rains could add more feed-grade bushels by reducing quality in oats, wheat, and barley. Abundant local feed supplies, coupled with a larger U.S. corn crop, have pressured values, with current feed bids ranging from $2.50 to $3.25/bu depending on quality and location.

Wheat futures are trading slightly higher Wednesday morning after sliding on Tuesday, pressured by the USDA’s increased winter wheat production estimates. Most recent reports suggest U.S. winter wheat harvest is nearly complete at 90%. Ukraine and France have also made strong progress, although persistent rains in France have slowed activity and led to downgrading and sprouting in unharvested crops. In Australia, summer rains have eased crop stress and point toward improved yields in several regions. As Canadian farmers prepare to begin combining, quality will be a key focus, particularly for durum, as harvest rains could start to impact grading. Locally, wheat bids include CPSR at $6.50/bu delivered Central Saskatchewan for September movement, CWAD at $8.75/bu, and CWRS at $6.95/bu, also delivered for early fall shipping. Feedlot alley is showing similar values, with feed wheat at $6.95/bu delivered for August, and a carry available as shipping moves further out. Triticale is being bid at $230.00/MT delivered into Northwest Saskatchewan for August. For any off-spec product, contact your merchant for area-specific pricing.

Canadian chickpeas remain in the field and so far, have shown little duress from recent wet conditions, keeping expectations for a decent crop intact. There are reports of pods containing mostly single seeds, which could reduce yield potential, but large acreages in both Canada and the U.S. remain a factor. Pricing is steady this week at CAD $0.31-0.32/lb FOB farm, with sizing closely monitored. In U.S. terms, factoring in freight, tariffs, and exchange, this works out to about USD $0.20/lb FOB farm—levels that have generated limited seller enthusiasm. Shifting back to Canadian markets, 7&8mm chickpeas are fetching values around $0.28/lb FOB farm, a decent level to clear out any small sized product still in the bin. While calls for market updates remain steady, actual sales have been slow. Harvest will soon bring clearer insight into supply and quality for the 2025 crop.

The mustard market remains firm this week, with prices holding steady as we await yield and quality reports from harvest. Some areas have received excessive rainfall, but overall sentiment reflects less of an effect on oilseeds than other crops. Act of God contracts are essentially wrapped up, and the market has shifted back to deferred delivery contracts. Yellow mustard is being quoted in the $0.45–$0.46/lb range for fall movement, with stronger values available for spring delivery. Brown and oriental mustard are indicated at $0.38–$0.40/lb, for shipping before 2026, with premiums also available for those willing to hold product until the spring. If you have an offer in mind, reach out to discuss opportunities and secure movement that fits your timeline.

Canola has regained some ground after yesterday’s sharp drop triggered by Chinese tariff news. Harvest across the Prairies is still a few weeks away, but analysts and industry players are actively weighing production possibilities, factoring in reduced planted acres and challenging conditions in key northern high-yield zones. Some market watchers suggest exports may need to be cut by 3.5–4.0 MMT to prevent domestic supplies from running critically low by the end of the crop year. Current local bids sit in the $13.50–$14.00/bu FOB farm range.

The latest USDA soybean supply figures carried some supportive elements, but these were tempered by a forecast for lower U.S. exports, as China remains absent from the new-crop soybean market. This lack of Chinese buying interest could continue to pressure prices. Locally, soybean bids are holding between $10.85 and $11.00/bu at the farm gate. AAFC pegs Canadian dry bean acreage down 5% at 383,000 acres. Crop conditions across North America vary widely, with challenging reports out of Ontario and Michigan, while Manitoba and irrigated regions further west show good yield potential. Mexico’s black and pinto bean markets have seen a bounce off price lows, lending some positive direction. Current dry bean prices range from $0.40–$0.45/lb delivered, with certain specialty classes reaching $0.55/lb or higher delivered. On the export side, faba bean interest remains limited. Farm gate bids for export-quality faba beans are near $8.00/bu, while feed-quality faba beans are fetching about $7.00/bu FOB farm.

Canaryseed prices have softened slightly from last week, with bids now sitting between $0.25 and $0.26/lb picked up, depending on farm location and delivery window. Some new crop opportunities with an Act of God clause are still available, but these are increasingly harder to secure as harvest approaches and ample old crop supplies still in storage. Crop conditions remain strong, with 67% rated good to excellent—well above the 10-year late-July average of 56%. The one potential bright spot in a softer market is that lower prices may help stimulate renewed interest from both traditional and new export purchasers.

Flax pricing remains in a sideways pattern, holding between $18.00 and $19.00/bu picked up, depending on location, though buyer interest is limited, and sales remain sluggish. New crop values are a bit softer, with most buyers in “wait-and-see” mode, though bids between $17.00 and $18.00/bu FOB are still possible. Obtaining an act of God may still be possible, but these opportunities are fading quickly. Canadian new crop supplies heading into 2025/26 are not expected to be burdensome, even with likely yield gains from this year’s favorable growing conditions. However, expectations for a large crop out of Kazakhstan could dominate competing export markets, keeping a seasonal cap on prices.

With a break in the weather for some areas, reports of barley harvest commencing are rolling in. Market values are holding near the $4.50-5.00/bu mark, with more buyers leaning toward later movement as feedlots are largely “bought up” nearby. That said, there still seems to be a few openings for movement over the next three to four weeks, but we suspect those opportunities will disappear quickly. So far, quality has not been an issue, with reports of heavy, dry bushels coming off the field. Winter wheat harvest is happening at the same time, and many producers are eager to move that grain off-farm quickly. However, quality concerns—particularly sprouting—are emerging in winter wheat, which could increase pressure on the barley market as large volumes of feed wheat are offered to buyers. If moving barley for bin space and cashflow is your goal, it may be wise to start marketing sooner rather than later.

“Rain, rain go away” seems to capture the sentiment among early-seeded lentil crops, as recent wet weather has raised quality concerns. Later-seeded crops are holding up better, but in some areas the late rains have caused issues such as discoloration, sprouting, and pod or seed drop—especially in fields desiccated just prior to the moisture. For later crops with heavy foliage, disease pressure could become a factor. Good-quality large greens may be worth watching for possible price strength as anticipation builds for some lower quality product, but with harvest just getting underway and demand limited, the market remains in a wait-and-see phase. Many acres were seeded to small greens, which generally maintain grade better than large greens. Current pricing has large green lentils at $0.31–$0.33/lb, including an act of God clause, and indications at $0.35-0.36/lb delivered for those willing sign without and AOG. Small greens, both old and new crop, are steady at $0.27–$0.28/lb, while red lentils are trading near $0.285/lb delivered.

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.