Flax prices are holding steady as we approach the holiday season, with spot bids sitting as high as $17.75 FOB for January/February movement. Buyer activity has been limited in December, with growers attempting $18/bu FOB targets, but not getting much traction at this stage. Looking at new crop, some buyers have indicated interest in purchasing and it could be worthwhile to consider posting offers with an act of God clause as we enter the new year. Acreage for 2025 may see a slight increase and hedging against market downside may not be a bad play. The U.S. remains the primary market for Canadian flax, and with historically low stocks, the market seems supported but not poised for significant upward movement. Yellow flax continues to trade at favorable levels between $22 and $24/bu FOB, depending on location. There are also opportunities for off-quality flax; reach out to your merchant to discuss available bids.

Oat markets remain quiet and stable but show a softer tone due to recent StatsCan reports. While some skepticism exists about the reported 27% production increase over last year, these numbers have been published, and the market will likely take cues from first-quarter activity in 2025. Supply levels and the potential need for marketing adjustments to encourage planting for next year will be key factors to watch. Current bids for good-quality, heavy milling oats sit around $4.00/bu picked up, depending on location, while lighter product sees bids ranging from $2.30–$3.00/bu, based on weight. Until more clarity emerges, the subdued outlook for oats is expected to persist.

Chickpea markets remain sporadic, with buyers purchasing limited tonnage as opportunities arise. Old crop bids hold steady at $0.40/lb delivered to Saskatchewan plants, but trade is slow. New crop bids have yet to materialize, with many buyers waiting to see how the new year and the potential impacts of the new U.S. government proposed tariffs unfold. With the U.S. accounting for approximately 25% of Canadian chickpea exports, Canadian buyers appear comfortable waiting for more clarity. Meanwhile, both Canadian and U.S. growers are reportedly considering increased chickpea acres due to promising returns. For those with old crop in the bin or targets for new crop acres, posting a firm offer could help capture selling opportunities as they arise. For old crop sales, ensure you have details about grade and sizing ready.

Canaryseed markets are seeing little movement as 2025 approaches, with prices stable between $0.30-$0.32/lb FOB farm. While there have been no major changes in recent weeks, the demand-supply dynamic suggests there may be more available tonnage than initially expected. Buyers appear to be factoring in good overall supply, which has kept the market steady and unchanged for a few weeks now. Early indications of new crop contracts are surfacing around $0.30/lb FOB farm, including an act of God clause. However, these numbers aren’t deep, and it’s possible they could decline or disappear once sufficient acreage is booked. For now, both old and new crop activity remain subdued.

The lentil market remains largely unchanged this week. Red lentils continue to trade steadily, with some bids climbing back to 35 cents delivered. Offers in the 34-34.5 cent range picked up might find success, depending on location. Large green lentils have softened slightly, with bids of 60 cents FOB farm becoming harder to find; active bids are closer to 58-59 cents/lb. Small green lentils are steady, with bids of 53-54 cents/lb picked up still available. On the new crop side, activity remains quiet as most buyers seem to prefer holding off until the new year to release bids. Early indications for new crop red lentils are around 30 cents, though grower interest remains limited. A few firm offers for large green lentils at 47 cents and small greens at 45 cents, both FOB farm with an act of God, have traded. If you have a specific target price, consider posting a firm offer to take advantage of any opportunities.

As 2024 draws to a close, the mustard market presents a straightforward picture. After several years of significant acreage and higher prices, the market is now seeing ample supply, with softer prices compared to recent years. Margins for mustard are lower, which is expected to lead to a reduction in seeded acres for 2025. Selling activity is quiet, suggesting a potential carry-over into the 2025/26 marketing year. Uncertainty around U.S. tariffs could impact yellow mustard exports, adding pressure to the market. Meanwhile, EU tariffs on Russian mustard might create opportunities for Canadian brown mustard in Europe. Prices remain sideways, with yellow mustard at 42-44 cents FOB, brown mustard at 31-33 cents, and oriental at 30-32 cents/lb picked up. For movement options or to explore specific opportunities, reach out to your Rayglen merchant.

The pea market remains steady, with maple peas continuing to lead in pricing, while yellow peas lag behind. Current spot bids for maple peas are indicated above $20.00/bu, green peas are priced at $16.50-$17.00/bu for January-February movement, and yellow peas are indicated at $10.50/bu, all FOB farm. On the new crop side, maple peas with an Act of God have been trading in the $14.00-$16.00/bu range pending variety and green peas at $12.00-$14.00/bu, while no new crop bids have been posted yet for yellow peas. With the significant price gap between varieties, it’s clear why many growers are considering maple peas over other types. However, the risk of overproduction in the maple pea market next year highlights the importance of taking advantage of new crop contracts in the current $14.00-$16.00 range while the opportunity is available. Pricing will vary depending on buyer and variety, so growers should explore firm offers to lock in attractive bids. For those planning next year’s pea acreage, securing seed sooner rather than later is advised. Seed availability is already tight, particularly for maple peas. Green pea varieties such as Husky and Rider are in limited supply, while Forest and Limerick are slightly more available. Green pea seed availability is variety-dependent, while yellow pea seed appears to be in good supply overall.

The wheat market continues to hold steady, with slight upward movement in bids for high-quality milling wheat. Current local pricing for #1 CWRS 13.5% pro are up to $7.75/bu delivered to plant for new year movement in some areas. Feed wheat bids remain firm around $6.75/bu FOB farm in West Central Saskatchewan, with prices varying from that level depending on freight. For durum, the market has shown minor strength, fueled by Algeria’s recent tender for March-April delivery. While this may not shift the market significantly, some bids for #2 CWAD are now touching $9.00/bu delivered to plant.

In the barley market, feed prices are relatively unchanged, ranging from $4.90/bu to $5.50/bu FOB farm in Saskatchewan, with stronger values in Alberta, depending on proximity to feedlot alley. There’s potential for even slightly higher bids for those willing to deferred delivery into the spring and summer months. Light barley remains a challenge, with bids starting lower due to end-user reluctance to handle light product. A potential corn tariff could benefit the feed barley market, though any impact remains speculative at this point. As for malt barley, buyers are still quiet but show indications they’ll need product as the year progresses. However, maltsters remain cautious about aggressive purchasing. If you have barley with strong malting specs, consider posting a firm offer to try and capture a premium, as this might be the most effective way to generate buyer interest.

The canola market has faced turbulence over the past few days. Political tensions are adding to the pressure, including tariffs on Chinese EVs, steel, and aluminum, coupled with China’s ongoing anti-dumping investigation of Canadian canola. Further compounding the situation is the looming possibility of tariffs from the US and competition from Australia’s canola crop, which offers a freight advantage, making it a more economical option for end users. Despite this, global canola supplies are tight due to poor crops in other countries, offering a faint glimmer of hope for price recovery. Currently, January futures are trading at $589.70/MT, with weak basis levels eroding farmgate bids.

Soybean futures have dropped to nearly four-year lows, driven by falling soybean oil prices and expectations of a bumper crop from South America. Domestic soybean prices are fluctuating between $10.50 and $11.00 per bushel FOB farm. In Argentina, dry bean production has been negatively impacted by challenging growing conditions, while demand for dry beans in Mexico is showing signs of improvement. Larger dry bean classes are trading at approximately 45¢ to 50¢/lb delivered, with smaller specialty classes fetching between 55¢ and 59¢/lb delivered. Export interest in faba beans remains muted due to strong production forecasts from the UK, though frost damage in Australia could influence their yields. Export bids for faba beans are around $9.00/bu FOB farm, while feed-grade faba beans are priced at about $8.00/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.