Red lentils remain strong while green lentils continue to slip this week.  Reds have traded as high as 36 cents FOB farm for April through May movement. New crop remains in that 30-31 cents FOB farm for fall movement. This market may remain stable as it seems to be at an equilibrium between supply and demand.  The green lentil market continues to soften as farmers are selling remaining inventory of last year’s crop. Growers are also taking advantage of the new crop pricing that is available.  Small green lentils still rank 1st for return on investment at 41 cents, Large greens at 45 cents rank 2nd and Red lentils rank 3rd at 31 cents.  All new crop contracts include Act of God and FOB farm.

The pea market remains similar to last week, with the same upcoming potential marketing issues on yellows. India will have to decide right away if they will reimpose a tariff, which again, seems likely as their prices have been coming down. China’s demand is still lacking and doesn’t seem like any changes will occur anytime soon. This leaves the yellow pea market sideways with the potential for some downward movement as our export numbers will be reduced leaving our on-farm stocks higher than originally anticipated. Green peas are trading sideways as well with some buyers lowering their bids, this is following more of a seasonal tendency. Current yellow peas are trading at $10.50/bu FOB, with new crop values mainly around $9/bu FOB, $10/bu may be achievable in Eastern Saskatchewan with pushed out movement options. Green peas are at $17/bu FOB, based on max 3% bleach and new crop values are $13.50 – 14/bu FOB. Maple peas remain mostly unchanged with old crop at $20 – 23/bu and new crop values at $16 – 18/bu FOB (all variety dependent).

It’s not surprising that there’s not much change in the barley market. Old crop prices are still hovering between $5.00 and $5.75 per bushel at the farm gate, with better prices as you get closer to Lethbridge. It seems nearly impossible to see any quick movement on feed barley, but keeping it in your bin for a couple more months at these rates might be a smart move. For new crop, prices are still around that $5.00 per bushel mark on a DDC contract, but you might see a bit more action if you put a firm offer out there. As for malt, the conversation is pretty quiet. Maltsters are feeling secure in their positions, but having your specifications ready could give you a chance to negotiate if an opportunity arises.

Wheat market conditions remain much the same. The chatter hasn’t changed much over the past week or even month. There’s still a lot of uncertainty out there with worries about tariffs, moisture levels, and drought conditions. Prices for good quality red wheat are hovering around $8.00 to $8.25 per bushel delivered, but buyers aren’t exactly rushing to make purchases, and sellers aren’t eager to offload their stock at these prices either. Feed wheat has seen a dip of about a dollar per bushel, trading in the $7.00 to $7.25 per bushel FOB farm range. On a brighter note, durum is showing some activity, priced between $9.00 and $9.50 per bushel, with stronger numbers as you head east. Some buyers are locking in new crop contracts at these rates, and a few sellers are getting deals done. If you want to stabilize your pricing, your best move is to reach out and let us work the market for you. With the latest SCIC numbers rolling out, it looks like durum growers will keep growing durum, and wheat growers will stick with wheat, so we probably won’t see any big changes in seeded acres for 2025 this year.

Canadian flax supplies are historically tight, which may impede certain exports. This situation is contributing to price support, with current bids reaching $18.00 – $18.50/bu FOB for some spring deliveries. New crop is hovering around $17.00/bu, picked up with an act of God. The EU will likely need some additional flax supplies even though there was 143,000 tonnes imported in December that is currently providing some cushion. Of those 143,000 tonnes, the majority came from Russian and Kazakhstan while Canada provided 14,000 tonnes. With the possible tariff still lingering on Russian supplies headed to the EU, there will be more of a push for supplies to come from Kazakhstan and Canada. With the potential for US tariffs on Canadian flax is still remaining a risk, the market can’t ignore possible trade disruptions.

Canola started the week on a downward trend but making small gains back today.  Canola lost roughly $20/MT on Monday and another $2.30/MT on Tuesday and so far, has gained back $4.00. Canola markets are a little nervous this week due to the uncertainty of the potential of imposed tariffs next week. Tariffs are not the only factors messing with canola, uncertainty with US biofuel industry as well as China and Canadian politics. Expect market to be very unstable for the short term as everyone sorts through the above-mentioned issues. Canola bids are ranging between $13.80 to $14.00/bu fob farm for Feb/Mar shipping.

Next week will be a big disrupter in chickpea markets if it is found they fall under a 25% tariff for cross border trade. The chickpea trade is already so difficult to navigate and these barriers will only complicate trade further.  Current crop #2 Kabuli’s are still trading at $.39/lb FOB farm this week with min 30% 9mm in sizing. The spread for smaller sizes is anywhere from $0.03-.04/lb depending on location. New crop has yet to see a trade, but bids seem to be floating around at $.32/lb FOB farm with an AOG. Also, feed chickpeas came up in conversation this week with values at $.13/lb FOB farm in Alberta. Hoping that is just a sign of the times but it is a bit shocking. If you are looking for seed for the coming season, give us a call.

The main factor affecting the soybean market right now is the record production in Brazil, with the harvest nearing the halfway point. Since early February, soybean futures have been on a downward trend. Currently, domestic soybean prices are hovering between $10.70 and $10.95 per bushel fob farm. The dry bean market has been pretty stable lately, as processors and buyers are still sorting through their production contract inventory. It looks like they’ll soon clear through the contracted product, which should prompt processors to jump back into the market. Exports have been decent, but there are concerns about looming tariffs that could impact buying activity. Dry bean bids are around 45 to 55 cents per pound delivered, while smaller specialty classes are fetching north of 60 cents delivered. On the export front, there’s not much demand for faba beans, with bids sitting at about $9.00 per bushel fob farm, and feed quality faba beans priced around $8.00 per bushel fob farm. A recent surge in Aussie faba bean prices could potentially create new opportunities for increased Canadian exports.

The stagnation in oat prices, especially with lower quality, is definitely putting pressure on growers with lighter product. The fact that there’s little demand for anything under 38lbs does make it harder for those with oats that don’t meet that standard. It’s clear that having targets for those sporadic opportunities could help mitigate some of the risk in this market. Milling-quality oats weighing 40lbs plus are holding steady around $4.00/bu picked up on farm which is a positive for those able to meet that spec. There is uncertainty around tariffs that seems to be causing some hesitation in longer-term planning. With the chatter about increased acreage, it seems there could be potential for more supply, which could keep prices subdued in the longer run, especially if demand doesn’t pick up substantially. It will be interesting to see how things evolve, with the new crop indications hovering around that $4.00/bu mark.

Mustard has been showing signs of life recently, especially on the new crop front with more buyers willing to look at acres. Spot yellow mustard continues trading between $0.43 and $0.44 per pound, and putting an offer up at $0.45 FOB is likely a good idea if not pressed for quick movement. Brown mustard is currently bid at $0.32–$0.33 per pound, depending on delivery, while oriental mustard remains in the low $0.30 per pound range also. Offers on all types of mustard might be a good idea in this market as things perk up slightly. New crop values remain in line with current spot prices for now with an act of God. This is a good time to consider seed options if you have open acres here.

The canary seed market is in a bit of a transitional phase, with potential shifts on the horizon. The increased acreage expectation for 2025 definitely adds an interesting layer to the situation. If acreage ends up higher than expected, it could result in a significantly heavier supply, which would likely pressure prices further and make the market feel oversupplied, especially if demand doesn’t rise to match it. The recent uptick in movement since late November, particularly through exports to container shippers and Mexico, is a positive sign for the market, suggesting there’s still demand. However, the lack of seasonal price increases so far in early 2025 could point to two things: either the traditional export shipment to Europe might not happen this spring, or supplies are simply plentiful enough that buyers don’t feel the need to increase bids right now. Given the larger-than-expected supply and the possibility of more acreage in 2025, it seems that the market could be under pressure for the foreseeable future. The flat prices and steady movement so far indicate that, while demand remains stable, the ample supply is keeping prices from rising significantly. For 2025/26, if these conditions hold it could be a challenging market for growers, as supply could outweigh demand, limiting price recovery. Old crop and new crop prices are on par at $0.30/lb picked up on the farm with new crop having an AOG.

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.