The pea market continues to face the same marketing challenges seen prior to the new year. Prices have eased slightly across all classes, as clarity from China and India on the current trade dynamics remains absent. Yellow peas are trading around $7.00/bu FOB, contingent on location and freight costs. Green peas are quoted at $9.50–10.25/bu FOB, with the higher end reflecting low moisture product for specific markets. Maple pea bids range from $9.50–11.00/bu FOB, largely dependent on variety. Looking ahead to the 2026 crop, acreage is expected to decline across all classes unless there are some positive developments in end user demand.

The oat market has seen very little change as we kick off 2026. Supplies remain ample, while buyer demand is restrained. Good quality #2 oat bids are quoted in the $3.40–3.55/bu delivered range, with some shipping windows already being pushed into April and May. Feed quality oats are trading around $2.25–2.50/bu, though interest has been minimal. With deliveries continuing to be deferred, it does not appear advantageous to holding large volumes of oats on farm at this time.

Barley markets enter the new year with signs that supply and demand have aligned with current purchasing values. Posted bids have pulled back modestly, which comes as little surprise and has been anticipated for some time. Old crop feed barley is trading in the $4.50–4.90/bu FOB farm range, with delivery windows continuing to push further out. There has also been some discussion around new crop pricing, which is largely in line with old crop values. Any near-term price rallies for feed barley appear unlikely. Malt barley markets remain quiet, with firm pricing difficult to obtain, though having specifications available and being flexible in marketing may help generate interest and secure a sale.

At time of writing, canola is trading higher, with January futures at $600.90/MT, March at $618.40/MT, and May at $628.50/MT. Support has come from recent gains in soybeans and European rapeseed. Despite these modest increases, the canola market continues to be weighed down by heavy global supplies that are expected to result in a large carryout. China remains on the sidelines, adding a continued bearish undertone to the market. Local pricing includes $13.45/bu delivered northwest Saskatchewan for January movement, and $13.10–13.30/bu delivered east side Saskatchewan for January through March. Prices generally improve as delivery is pushed further into spring and summer. Producers are encouraged to contact their merchant for FOB farm pricing specific to their area. For those holding heated canola, buyers are actively looking for product, so reach out with quality specifications to firm up a bid tailored to your supply.

The flax market remains flat to start the new year. Export into the U.S., which remains the primary destination for Canadian flax, has been quiet. Current pricing is sitting in the $16.00–16.25/bu FOB range. Looking ahead, the market is expecting some downward pressure as we move into spring due to heavier available supplies. The EU continues to be well supplied by Kazakhstan and Russia. In October, Canada accounted for only 1,000 tonnes of flax into the EU. Even with EU tariffs on Russian flax increasing to 50% this month, import volumes are expected to shift more heavily toward Kazakhstan rather than Canada. China is also expected to continue sourcing the majority of its flax from Russia, meaning Canadian flax will need to be priced more competitively to gain traction in these markets. There remains strong interest in yellow flax. If you have yellow flax in the bin, contact your Rayglen merchant to discuss available marketing options.

Chickpea wires and market chatter continue to reflect an environment of oversupply and weak demand across both Canada and the U.S. Values slipped again toward the end of the last quarter, and on a global scale this may be what is needed to re-engage buyer interest in North American supply. Overseas, the Indian Rabi crop is being planted, alongside Mexico’s crop, with both off to a strong start. Weather will remain a key variable, as conditions in both regions can shift quickly and materially impact production. To date, Mexico has been experiencing less rainfall, keeping close attention on how environmental conditions may influence final crop outcomes. Current bids for #2 Kabuli chickpeas have declined to around $0.25/lb FOB farm for standard sizing. Larger calibers have continued to earn a premium, although buyer interest in these sizes appears to have softened recently. Sample and feed grade chickpeas are trading in a wide range of $0.08–0.15/lb FOB, depending on the nature and severity of the downgrading factors. For those in the market for planting seed, reach out to discuss availability. Producers considering new crop should begin thinking about target pricing, as buyer interest in new-crop positions remains limited at this time.

The canaryseed market continues to trade sideways following the holiday period, with historically large production acting as a major headwind to price improvement. Values are holding in the 18.5–19.5 cents per pound picked-up range, with freight providing support at the upper end. With 2025/26 supplies sitting at a 20-year high, the outlook for a meaningful or sustained price recovery in the near term remains limited. Given ample supplies and a lack of clear demand-side catalysts, growers should continue to factor the broader supply situation into their marketing decisions.

Wheat prices have slipped again over the past week as futures continue to struggle for direction. Milling demand across all wheat classes is very quiet, with many buyers already well covered and firm bids difficult to extract. Feed wheat values generally range from $6.00 to $6.50/bu on farm, depending on location and wheat type, with white wheats less preferred in feed rations. The strongest feed bids are naturally found closer to feedlot alley, though FOB farm pricing can be worked in most areas. Reach out and let us know what you have available. Durum spot bids for late winter through summer delivery are ranging from $7.25 to $7.75/bu, depending on location, for #1 CWAD. Looking ahead to fall 2026, there are still limited opportunities to lock in #1 U.S. grade durum at $8.00/bu picked up on farm using deferred delivery contracts, with potential for modest premiums extending into the winter of 2026.

Lentil markets remain quiet, with pricing flat to slightly lower than December levels. Both green and red lentils are facing significant carryover, making it difficult for the market to find upward momentum. Canadian lentils continue to compete with other exporting countries that have had, or are expected to have, strong production. Lower prices have helped attract buyers and keep exports moving, but not at a pace sufficient to materially reduce the oversupply. As a result, a significant reduction in lentil acres is expected, with small greens likely seeing the largest decline, followed by large greens and then reds. Even with fewer acres, a price recovery is expected to take time. Current pricing has large green lentils trading at 25–27 cents delivered, small green lentils at 17–20 cents delivered, and red lentils at 21–23 cents delivered.

Mustard markets started 2026 with values remaining fairly steady and unchanged. Yellow mustard continues to trade in the low 40-cent ballpark, while brown mustard is bid in the 34–36 cent range, depending on shipment period. Pushing delivery further out may allow for slightly stronger values on firm offer. Oriental mustard remains the strongest performer, trading in the 45–46 cent range. All prices are quoted as FOB farm and based on No. 1 quality. Off-grade bids are available, though with the amount of off-grade product this year due to weather-related issues, it is best to discuss options directly and provide samples where possible. New-crop bids are slowly beginning to surface on yellow and oriental mustard, though bids for brown remain elusive. If pricing high to low 40 cent per pound range with an act-of-God contract is of interest, let us know, as these values pencil out competitively against many alternative crops this year. Rayglen continues to offer all varieties of certified mustard seed, which is strongly recommended for all mustard growers, as purity remains critical. Your merchant can provide details on availability, pricing, and treatment options, with all sales delivered directly to the farm.

Market participants are closely watching developments in China, as the country has recently increased purchases of U.S. soybeans following a trade agreement with the United States. Despite this activity, uncertainty remains around whether Chinese buying will ultimately reach the 12 MMT target being promoted by the Trump administration. Locally, soybean bids are currently ranging from $11.50 to $11.65/bu FOB farm. North America continues to carry ample supplies of black and pinto beans. Demand from Mexico is expected to ease back toward more typical levels as competition from other global suppliers increases, which is placing some downward pressure on prices for these classes. In contrast, smaller specialty-colored beans are expected to see improved demand and firmer pricing due to tighter supply. Current bids for black and pinto beans are around 30 cents per pound, while minor specialty varieties are drawing stronger interest, with bids approaching 60 cents per pound or higher. Interest in faba bean exports remains limited, with farm gate bids around $8.00/bu and feed-quality faba beans trading closer to $7.00/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.