Harvest is underway in some areas, and pea yield estimates have increased slightly thanks to favorable weather conditions. As harvest commences, bids start to pull back, following a typical seasonal trend. Current delivered bids are sitting at $9.00-9.50/bu for yellow peas, $13.00/bu for green peas, and between $11.00–$12.00/bu for maple peas. That said, finding a buyer for maple peas remains challenging at the moment. New crop values are now closely aligned with old crop as we near full harvest, with price convergence reflecting this. With Canadian yield estimates climbing, we’re potentially looking at a heavy supply across all pea classes this marketing year. According to some reports, shipments to China continue, suggesting there may be some sort of workaround to the 100% tariff on peas. Indian demand also remains quiet, and unless that changes, Canada will likely need to find additional export markets to avoid building burdensome stocks.

Chickpea yield estimates have moved higher as improved weather has boosted crop ratings. There’s talk that sizing could be larger this year, supported by our recent crop inspection tours, where many pods had just one well-formed seed rather than pairs of two smaller sized as seen in recent years. Prices have pulled back slightly, which is common for this time of year, with bids ranging from 30 to 32 cents per pound depending on sizing and movement timelines. Meanwhile, U.S. crop ratings have declined, which could potentially lead to stronger demand from that market—offering a bit of optimism for Canadian export opportunities.

Wheat prices remain flat this week with limited buying interest. Feed wheat is being indicated around $6.50/bu picked up, while milling wheat—specifically HRS with 14% protein—is trading at $7.80/bu delivered into west-central Saskatchewan. Excess moisture in parts of the province is raising concerns about fusarium, particularly in durum crops. This risk is being closely monitored, but for now, durum bids remain steady between $8.50–$9.00/bu FOB, with the higher end of that range available in extreme southeast Saskatchewan. Some stronger pricing is being offered for 2026 delivery, so it’s worth discussing options with a Rayglen merchant. Globally, wheat markets remain mixed. The EU is reporting an increase in both soft white wheat and durum acres, though quality concerns are emerging due to late-season rains. Meanwhile, Australia is dealing with drier-than-normal conditions. As harvest gets underway, be sure to pull some grades and specs on your cereals so we can help you align them with the right marketing opportunities.

Flax pricing continues to move sideways, hovering between $18.00–$19.00/bu picked up, depending on location. Buyer interest is limited, and sales remain slow. Saskatchewan flax yields are expected to be about 10% higher than last year, helping to offset the drop in seeded acres. Even with that bump, total supply is not expected to be burdensome. As of July 28^th, 75% of Saskatchewan’s flax crop was rated good to excellent, up from 68% two weeks earlier. On the demand side, U.S. interest is expected to decline due to a larger domestic crop, and the EU is expected to source more flax from Kazakhstan. Kazakh seeded acres are reported to be up 39% compared to last year, setting the stage for potentially their largest crop since 2020 if yields come in near average. With that, overseas supply is poised to dominate flax trade in the 2025/26 marketing year.

Mustard markets continue to show modest strength as the growing season progresses. This week, all three types saw a slight bump in pricing. New crop yellow mustard is being offered at $0.46–$0.48/lb, while brown and oriental are indicated at $0.42–$0.44/lb FOB farm. Growers willing to commit to first-quarter 2026 delivery can secure the higher end of those ranges. These price gains are largely driven by a sharp drop in seeded acres—down as much as 40% from last year. While July’s frequent rains have supported crop development, many mustard-growing regions faced early-season challenges from dry conditions. As the Canadian harvest approaches, attention is also on Black Sea mustard supplies, which continue to flow into Europe. That supply pressure is expected to persist as their new crop moves into storage, potentially influencing demand and pricing in our domestic market.

November canola futures hit a two-month low of $671/MT on Tuesday, pressured by weakness in Chicago soy oil and speculative selling. However, the market has since rebounded on stronger crude oil prices. As of writing, November canola sits at $675.90/MT, with January at $688.80/MT. Tight Canadian carryout stocks continue to underpin the market, but with inconsistent weather across the Prairies, traders remain cautious in projecting final yields. In northwest Saskatchewan, local bids for canola are at $15.00/bu delivered for first-half August, with fall delivery bids trailing by $0.20–$0.40/bu depending on the month. Central Saskatchewan is seeing bids at $14.10/bu delivered, with price gains of $0.10–$0.40/bu for deferred shipping windows. If you’re looking for a FOB farm bid—either for #1 grade or off-spec canola—contact your merchant directly for area-specific pricing.

Oat buyers are starting to show some bids again, with delivered prices in Manitoba around $4.50/bu to the elevator. In Saskatchewan, delivered bids for #2 quality oats are coming in a bit lower, ranging from $4.20–$4.30/bu for nearby movement. Some price carry is being offered, as slightly better values remain available for those willing to hold product into the winter months. According to the July 28th report, about 67% of Saskatchewan’s oat crop is rated good to excellent. Recent rains will help benefit later-seeded crops, but those nearing maturity may be at risk for quality concerns depending on timing and conditions. On the feed side, oat prices remain in the $2.50–$3.50/bu range picked up on farm. Pricing depends heavily on the bushel weight and, as always, the location of your farm.

Lentil markets continue to soften, largely due to expectations of a larger crop than originally anticipated. Late July rains have significantly improved yield potential across much of Saskatchewan, but they may be hurting quality. In the southern part of the province, many lentil fields were just days away from harvest when the rain hit, raising concerns about staining and discoloration. In west-central regions, the harvest will be delayed as crops remain in the growth stage and have yet to reach maturity. Buyers are still posting new crop pricing, though most are now offering only Deferred Delivery Contracts (DDCs), and only for #2 or better grades—especially on large and small green lentils. This week, large green lentils are trading between 33–35 cents/lb delivered for #2 or better. Small greens are priced at 26–28 cents/lb delivered. Red lentils remain relatively steady in the 28–29 cent/lb range. If widespread quality issues materialize, we could see higher quality pricing stabilize, but expect wider discounts for lower grades.

Barley markets have gone quiet amid growing speculation of a larger-than-normal supply of feed grains. This isn’t just a Canadian trend—the U.S. and China are also projecting significant increases in corn production, adding more pressure to feed markets. In Canada, the feed grain bump is less about yield and more about a potential rise in off-grade product due to poor harvest weather. It’s becoming increasingly difficult to find $5.00/bu bids for September–October movement on barley, but the odd opportunity in the right location is still available. Given current market dynamics, it may be worth booking a portion of expected production now—not just to lock in price, but also to secure delivery windows as the glut of feed grain could make movement more challenging later on.

Canaryseed prices remain under slight pressure this week. Widespread rainfall across much of the province has significantly benefited crop development, and yields are expected to be stronger than in recent years. Both old and new crop bids are currently sitting in the $0.26–$0.27/lb FOB farm range. New crop contracts still include an Act of God clause, but that option may not be around much longer as harvest nears and weather risks increase. With better yields anticipated and contract terms tightening, now might be a good time to lock in some tonnage—both for movement and cash flow. If you’ve got a target in mind, show us an offer and we’ll see if we can get it traded for you.

Good growing weather in the Midwest continues to weigh on soybean futures as the crop enters its critical pod-filling stage. Rumors and speculation are building around the potential for record yields. Locally, soybean prices are hovering between $10.00 and $10.15 per bushel at the farm gate. AAFC is estimating dry bean acres at 383,000 this year, down 5% from last season. Crop conditions across North America vary widely. Ontario and Michigan are reporting challenges, while Manitoba and irrigated acres further west appear to have strong yield potential. In Mexico, black and pinto bean prices have started to rebound from recent lows, providing some positive momentum. Dry bean prices currently range from 40 to 45 cents per pound delivered, with some specialty classes trading as high as 55 cents or more delivered. Export interest in faba beans remains limited. Farm gate bids are around $8.00 per bushel, while feed quality faba beans are priced closer to $7.00 per bushel 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.