As we roll into the last week of August, pea markets show signs of weakness. Harvest reports are starting to roll in, with strong yields being noted across much of the province. A combination of virtually non-existent Chinese exports and lackluster demand from other trading partners, has the market subdued. Maple pea markets are showing no bid for the most part, as exporters continue to wait for destination delivery points to open up in China. Green peas, #2 or better with max 3% bleach, are being indicated in a wide range from as low as $10.50/bu delivered to $12.50/bu FOB, largely based on location and specific buyer needs. Higher end values are increasingly harder to come across, so it may be best to act sooner rather than later. Yellow peas have seen trades in the $7.00–$7.50/bu FOB farm range over the past couple of days, but these values also appear to lack much depth. A key point to highlight is the volatility we’ve seen recently, as price swings of $0.50–$1.00/bu, or more in a matter of a few hours, does not seem uncommon.

Canola has held fairly steady over the past week despite harvest pressure and the ongoing tariff situation with China. At the time of writing, the board is showing $652.70/MT, translating into bids around $14.30-$14.75/bu delivered plant after factoring local basis levels. While this is still a sharp drop from the highs of July, all markets have softened in recent weeks as crops, making it difficult to say whether or not some of this is purely seasonal. Making some small sales at current levels could help free up bin space and generate early season cash flow. Looking further out, posted values into late 2026 are closer to $15.00/bu delivered.

It has already been quite the week for lentil markets with unpredictable shifts in value and demand taking place. Early yield reports suggest average to above-average production, which has led buyers to scale back and even pull bids completely in some cases. Harvest samples are just starting to come in, and while overall quality appears decent so far, there are pockets of concern where late season rains delayed harvest. Lentil pricing is hard to pin down at the moment, as bids change almost hourly and tend to be on limited tonnage. As a general indication, #2 large greens are sitting around 27 cents/lb delivered, #1 small greens at 25 cents/lb delivered, and #2 reds at 24 to 25 cents/lb delivered. Growers looking to move product at this stage are encouraged to act quickly as market fluctuations are unpredictable. A key factor in contracting with most purchasers is having samples graded. Many will not bid on product unless a sample has been seen. To make it easier and quicker for us to provide firm bids please send in your samples ASAP.

Barley markets continue to soften as harvest progresses across the Prairies. Prices are now reflecting the first 2025 bushels coming off the field, with feed barley trading between $4.20 and $4.75 per bushel FOB farm. Most near-term shipping slots are full, shifting sales opportunities into late fall or early 2025, where a modest $0.10–$0.15 per bushel carry is available. Some barley that initially looked like it might make malt is instead slipping into feed due to late-season rains and chit issues. With other grains also moving into the feed stream, waiting for a major price rally could be risky. Malt demand remains relatively quiet, but uneven growing conditions may create opportunities if maltsters need to backfill lost tonnage. Having malt specs on hand could help capture value if bids surface.

Chickpea harvest is slowly getting underway, with progress delayed in many areas by late-season rains and cooler temperatures. As September advances, quality will be the key concern, on potential disease and frost damage, high green counts, and immature peas posing the greatest risks. Prices have softened this week but not to the same extent as lentils or peas. Still, the market faces challenges ahead, as AAFC has already projected a 13% increase in seeded acres. If yields come in stronger than expected, total production could easily surpass AAFC’s current estimate of 315,000 MT. Over the coming weeks, the interplay between heavier supplies and potential quality issues will be the main factor driving chickpea values.

Canaryseed remains under pressure, with bids hovering around 24 cents FOB farm. In some cases, an offer at 25 cents might draw interest, but overall this market is proving tough to move. July rains have given buyers pause, as there could be stronger-than-expected yields once harvest gets rolling. Despite the lack of AOG protection on contracts at this stage, growers still may want to consider locking in a some tonnage, especially if storage space or cashflow are or will become a concern. Canaryseed sales could be a practical option to ease both.

Oats are starting to come off in certain areas, and yields are catching attention where July rains hit at the right time. Bids for #2 quality are generally around $4.00 per bushel delivered, though harvest pressure is making prices a moving target this week. Some buyers have posted bids dipping into the $3s and although those cases aren’t abundant at this stage, it could be a sign of what’s to come. For those able to store product, there may be an opportunity to secure stronger values later into winter or spring of 2026. On the feed side, bids range from $2.50 to $3.50 per bushel picked up on farm, depending on test weight and the reasons for downgrading.

Wheat futures remain in the red this week as harvest across North America is underway and edges closer to completion in some areas. Quality is becoming a bigger talking point, with reports of low falling numbers and sprouting in some regions. Durum has seen a bit of trade, with bids around $8.75/bu in the southeast corner of Saskatchewan, though values weaken as you move further north and west. Buyers appear to be showing more consistent interest, creating some opportunity in the near term. Feed-quality wheat continues to move both domestically and across the border. With acres coming off and storage space tightening, many growers are prioritizing moving grain off the yard and taking advantage of current feed market values. For now, milling wheat bids have been relatively flat, so it’s best to check in with your broker for the most up-to-date values in your area.

Yield reports from this year’s mustard crop are still few and far between as harvest progresses throughout the Prairies, but recent and short-term weather forecasts look favourable and should help bring mustard harvest a little closer. The 2025 crop is expected to be smaller than previous years, mainly hinging on lower acreage, with old-crop carryover still holding the narrative of quality concern. Export competition from the Black Sea region is expected to continue into 2026, with Russia leading the way on imports into the EU for the month of June. Ukraine and Kazakhstan are reported to have strong yields, which will also add pressure onto Canadian mustard into the EU. Locally, mustard prices have stayed relatively flat, with yellow quoted at $0.45-0.46/lb FOB farm pending shipping window, while brown and oriental are quoted at $0.40-0.42/lb FOB farm. The higher end of the range is attainable for first quarter 2026 shipping. For lower grade pricing, call your merchant and let us put together a bid.

Favorable growing conditions in the Midwest and solid crop condition ratings continue to weigh on soybean futures. Slower new crop demand from China is also limiting export movement, adding further pressure. A U.S. consultancy is forecasting Brazil’s 2025-26 soybean crop at a record 176.5 MMT, reinforcing the bearish tone. Locally, farmgate soybean bids are sitting in the $10.85–$11.10/bu range. Dry beans are facing a mixed outlook. Analysts point to a 5% decline in North American acres, bringing the total to 383,000. Crop conditions vary widely, with Ontario and Michigan reporting weather-related challenges, while Manitoba and irrigated regions further west show more yield potential. In Mexico, prices for black and pinto beans have been recovering from earlier lows, though harvest could bring fresh pressure. Current dry bean prices range between 35 and 40 cents per pound delivered, with premiums available for certain specialty classes. Export demand for faba beans remains limited. Farmgate bids are sitting around $8.00/bu, while feed quality values are closer to $7.00/bu FOB farm.

Flax prices have held relatively steady in the $17–18/bu range as other commodities face heavier harvest pressure. The bulk of the flax harvest has yet to get underway, so quality and supply dynamics remain uncertain. For now, buyers continue to operate hand-to-mouth while sellers remain cautious, keeping trade volumes light. Those who presold earlier in the high teens to low twenties look well positioned, but continued local demand in Saskatchewan could help support values as harvest progresses. Yellow flax is still showing bids around $20/bu, though interest from buyers remains limited.

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.