The canaryseed market remains largely unchanged this week, with old and new crop values mirroring each other at around $0.30/lb FOB farm. Old crop contracts offer Feb–March shipment, with no price improvements expected for later movement. New crop contracts include an act of God on 10 bushels per acre, though some buyers are willing to increase tonnage for those looking to secure a larger portion of their expected production at current values. Both buying and selling activity remains subdued, with purchasers not aggressively chasing product and growers slowing trickling in product to keep markets satisfied. Growers looking for higher values are encouraged to post firm offers with their merchants.

The pea market is steady, with limited new developments to report this week. India is expected to reinstate import tariffs on yellow peas at the end of the month, while China’s demand remains sluggish, all contributing to keeping yellow pea prices flat. Spot yellows are quoted at $10–$10.50/bu picked up ($11/bu delivered) with new crop values indicated at $9–$10/bu with an act of God. Grower interest is minimal at these levels. Green peas continue to trade at $17/bu picked up, with some firm offers achieving slightly higher values in select locations, while new crop bids sit at $13–$13.50/bu picked up. Maple peas remain strong trading at $20–$22/bu picked up generally, with new crop actively trading at $16/bu. Favorable pricing and increased acres could lead to overproduction, reinforcing the recommendation to secure 10-15bu/acre on a production contract to hedge against potential downside risk.

Chickpea markets remain focused on cross-border trade concerns, particularly the impact of potential tariffs. With Canada exporting 30% of its chickpea production to the U.S., which accounts for 45% of U.S. imports, both countries may need to adjust their trade strategies. This could mean increased U.S. acres or a shift in Canada’s export focus. Buyers are hesitant to engage in new U.S. business and are selective with purchases, prioritizing specific sizing. Recent trades have been sparse, with one only one sample-grade contract booked at $0.31/lb delivered in Southeast SK. No new crop contracts have surfaced, leaving growers questioning their seeding intentions. Market sentiment remains cautious, with buyers waiting for greater clarity on outside factors.

Flax prices are holding at $18.00/bu picked up for limited Feb–March tonnage. New crop offers have triggered at $17.00/bu picked up with an act of God. Opportunities exist for those holding yellow flax, with pricing available upon inquiry, but generally indicated in the $22-$23/bu range on farm. Analysts remain optimistic about increased exports to Europe and other destinations in the coming months. Tightening stocks and lower carryover into the 2025 crop year continue to support prices. However, competition from Russian flax in China remains a factor, as European tariffs on Russian could shift trade flows. The U.S. market may also seek alternative flax sources due to tariff concerns, despite Canada currently supplying 89% of its flax imports. While uncertainties persist, prices remain firm with movement opportunities available.

The wheat market is monitoring poor growing conditions in key regions. The U.S. faces both drought and winterkill, while moisture concerns persist in the Black Sea region and the EU. The tariff threat has now extended to the EU, adding another layer of uncertainty. This week’s USDA report lowered the June 2025 wheat carryover forecast by 4 million bushels, though market reactions were muted. Locally, feed wheat is priced between $7.00–$7.25/bu FOB farm, while durum trades at $8.50–$9.00/bu FOB farm. For specific pricing on other wheat types, consult your merchant.

The USDA left U.S. soybean supply and usage projections unchanged, keeping ending stocks steady. Argentina’s production estimate was slightly reduced, but Brazil is still on track for record production. Domestic soybean prices range from $10.50–$10.75/bu FOB farm. Dry bean prices remain supported due to adverse growing conditions in key regions and domestic processors managing existing inventories. Large dry beans are priced at 50–60 cents/lb delivered, while smaller specialty beans range from 65–70 cents/lb delivered. Faba bean export interest remains limited, with bids at $9.00/bu FOB farm, while feed-quality faba beans are priced around $8.00/bu FOB farm, though growers in advantageous freight areas may see stronger values.

Canola markets have seen a positive week, with futures steadily rising before a slight dip today. March futures are currently at $660/MT, up from $635/MT last week. Some domestic crusher bids briefly reached $15/bu delivered into plant for summertime movement, which prompted some trade activity. While volatility is expected due to ongoing tariff discussions, taking advantage of market strength remains a sound marketing strategy. New crop bids from crushers range between $14.20–$14.50/bu delivered, depending on the movement period and local basis level.

Barley prices have quietened slightly following an active few weeks, though bids remain strong and at attractive levels. Securing $5.50/bu picked up on the west side of Saskatchewan remains feasible for the next few months, with stronger prices anticipated into summer. Posting a firm offer has proven effective for those looking to maximize value. Tariff uncertainty continues to loom over the market, with no clear resolution in sight, though an introduction of tariffs could potentially bode well for local feed markets. New crop barley is priced at $5.00/bu across most of Saskatchewan, with stronger bids in western Saskatchewan and Alberta. Some sellers are locking in these values now to get a start on next year’s sales.

Lentil markets continue to feel downward pressure, particularly for small green lentils, which has seen new crop pricing drop 2-3 cents since last week. Bids now sit at 41-42 cents/lb FOB farm with an act of God. Buyers anticipate an increase in acres and believe many remain uncontracted, putting a cautious tone in the market. Old crop small greens are holding at 52–53 cents/lb FOB farm, with the latter tougher to secure. Large green lentils remain more stable, with new crop bids at 47-48 cents/lb FOB farm with an act of God. Old crop pricing remains unchanged at 58 cents for a #2, with some buyers offering 60 cents for X2/1 quality. Red lentils are steady at 33–34 cents/lb FOB farm for old crop, while new crop values remain at 30 cents. The market lacks momentum, with neither buyers nor sellers eager to put business on the books, leaving questions about whether prices will improve or remain stagnant due to sluggish demand. Small green lentils may continue to face pressure, and we strongly suggest growers secure a production contract for even a small portion of their expected production. Large greens and reds seem to offer more time before growers need to make firm decisions.

The oat market remains stagnant, with #2 milling quality oats trading between $4.00 and $4.50/bu. Demand for lighter oats under 38 lbs is extremely limited, making it challenging to move lower-quality product. Ongoing tariff uncertainty adds another complication, making it difficult for growers and purchasers to plan confidently. If no resolution emerges soon, growers may either hold off on marketing or explore alternative cropping options for next season. If you have oats in the bin or in the rotation for the 25/26 marketing year, reach out to your merchant to discuss contracting options!

With any possible tariff implications and issues delayed, mustard markets traded flat this week. Spot prices for brown mustard remain in the $0.32–$0.33/lb range, depending on delivery timelines. Yellow mustard is trading between $0.43 and $0.44/lb, but an offer at $0.45 could generate some interest for spring/ summer shipping. Talk to your merchant about submitting a firm target. Oriental mustard remains the quietest market, with spot bids generally in the low $0.30/lb range. However, some buyers may be willing to offer stronger bids for movement extending into June. New crop values continue to align closely with current spot pricing and in light trade with little interest sparked in growers. Could mustard be a bit of a sleeper for the 25/26 marketing year? It’s worth some consideration, as decreased acres abroad and domestically could point to lower supplies. Seed deliveries will start soon, and logistical plans are being made. Get your seed booked ASAP to take advantage of free delivery to the farm! Contact us to discuss seed options and market opportunities.

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.