Some lentil growing regions in the Prairies are receiving some much welcomed July rains to begin the week. While there was a stretch of hot and dry in early July, the lentil crops seem to be progressing well in some areas and these additional rains could help boost the crop ratings given on June 30^th of 59% and 63% good/excellent, in Saskatchewan and Alberta, respectively. While everyone watches the remaining summer weather, a big focus of analysts continues to be the acreage shift to greens, with 30% more in large green acres and 44% more in Eston-type than in 2024.  With the export season coming to a close in a few weeks, prices on most lentils have seen a convergence on old and new crop. Local pricing on lentils includes #2 reds at $0.28/lb FOB farm for old and new, $0.40/lb delivered for old crop #2 large greens and $0.38/lb FOB farm for new, and #1 small greens at $0.34/lb for old crop and very limited tonnage of new crop at the same price. With the notable increase in green lentil acres, those on the fence about locking bushels in under an Act of God contract should touch base with their merchant to explore options as we approach harvest. Bids on French greens and belugas continue to be sparse, so we would encourage offers in that space.

Barley markets are slowly starting to pull back each week it seems as we grow closer to 2025 harvest. Old crop feed values continue to range anywhere in the $5.00 – $5.50/bu FOB farm range with movement pushing into August delivery. All things considered however these are still strong values to consider getting something locked in at. New crop is indicated at $4.75-$5.00/bu FOB farm and with recent rains throughout the prairies suspect some guys are feeling a bit more comfortable to get something on the books, which might leave buyers in a position to sit back a bit and wait to bring some cheaper feed in. Switching over to the malt side of things and talks remain almost non-existent. Although there have been some rumblings of $5.90/bu new crop contracts out their for variety specific malt. Those indications sound like it does not contain an act of God. Staying close to the ground on this one might work in your favour as some point of time the dam is likely to burst and open a crack of opportunity to get some malt moving.

Chickpea acres are up around 13% from last year, which means potentially quite heavy supplies. We have seen this when looking at the old crop and new crop bids which have now converged. Buyers are at 34 cents/lb picked on both old and new crop, depending on sizing. We have some 28-29 cent options for smaller sized chickpeas. We had some steady demand coming from Pakistan which helped move some Canadian supplies out but even with continued demand, average yields with increased acres will likely have our supplies looking for heavy for this upcoming season.

Canola closed on the upswing on Tuesday close up $8.00/mt on the November futures. January up to $8.02/mt and March $7.70/mt.  This brought bids in the northwest into the $15.50/bu range for July -first half August, $15.2/bu for last half August and $14.98/bu for September. Markets continue to bounce ahead of harvest with the trading range being between $672/mt and $694/mt. July 11 was the low and a high on July 15th. Looking at the charts you will see how erratic the market has been in the last week or longer.  Prices will continue to fluctuate until at least the start of harvest. With these kinds of daily swings keep a close eye on the market as it is very volatile at the moment.

The oat market remains quiet as we move through the summer, with most buyers holding off until new crop supplies become available. However, there continues to be light spot buying, with small lot trades taking place. Old crop feed oats are trading between $2.50 and $3.50 per bushel, with a recent trade reported out of the Northeast at $3.04 FOB farm for July/August movement. #2 milling oat bids remain limited, though you may still find offers around $4.50 delivered, depending on location and grain quality. Given the variability, it’s best to call the Rayglen office directly — buyers are looking for specific information before making firm bids.

Canary seed markets remain largely unchanged this week, with trade holding steady. Old crop bids are still being quoted at $0.30/lb delivered in for July movement, offering growers a valuable opportunity to clear out bin space ahead of the upcoming harvest. New crop values are also holding firm at $0.28/lb delivered, typically with a 10 bu/acre Act of God clause in place. This continues to provide a relatively lower-risk pricing opportunity for those looking to secure some early sales. On the production side, conditions remain mixed. While many areas are off to a decent start, there are some notably dry regions where crop stress is becoming more apparent. These pockets could trim yield expectations slightly. That said, seeded acres are up approximately 10%, according to the latest StatsCan. Combined with a solid carryover, any production losses in drought-stricken areas may be offset, minimizing the overall impact on supply. With all factors considered, market expectations are for pricing to maintain its current tone in the near term, barring any major weather or yield surprises.

Another week of flat pea markets but a slight change in the number of producers sniffing around for new crop values specifically with green peas. New crop values are still around $13/bu FOB farm but favorable weather in all regions of Western Canada could see this shift. Especially if China and Canada can’t make up and be friends soon. Yellow pea pricing is basically at par for old and new valued at $9.00 – $9.25/bu picked up with some buyers still offering an AOG on the first 10 bu/acre. Maple peas rely heavily on the China relationship and continue to stay quiet with bids hovering around $12.50/bu with freight sensitivity. With both old and new crop values only seeing a slight spread, it is a good time to assess what is in the bin, what you want to carry over and what might be worth offloading to prepare for the crop about to come off. US acres will start harvest next week so a shift could be closer than we think.

Wheat prices have mostly been sliding this week as growing/harvesting conditions have gotten a bit better around the world coupled with the world production is expected to increase production for 2025. This isn’t to say conditions are good everywhere but there seems to be more good than bad right now.  Milling bids have slipped under $8/bu on #1 CWRS with some locations a fair bit lower than that as they basically advertise “we are not looking to buy”.  Durum prices are still hitting close to $9/bu in some areas but a bit weaker in others. Lots of the durum acres here locally was dry early and some of the cereals took that the worst. We will see how this crop progresses as it’s too early to guess if the bad outweighs the good. Feed prices have softened some down to $7/bu picked up on farm in most areas with a few areas getting a bit of a freight premium and still seeing a bit closer to $7.25/bu as a FOB farm pricing opportunity.

Some areas of mustard growing regions have picked up showers, certainly helping the crop recently. Rain in July has been tough to get in past years. There is still serious issues with mustard in the far southwest part of Saskatchewan, but a lot more areas are looking a little better. Current mustard prices sit at $0.46/lb FOB farm for old crop yellow, and $0.38/lb for brown and oriental. New and old crop prices are basically the same now with an act of God clause. Offers on new and crop mustard are the way to go here, as we try and get the best prices for your mustard. Talk to us about a strategy for selling with the acres being down in 2025.

Flax bids are once again on the harder-to-find side this week, with indications ranging from $20.00 to $22.00/bu FOB farm depending on location and delivery timeline. The amount of interested buyers has narrowed as prices overseas are significantly cheaper. As predicted, old crop has started to merge into new crop prices. With new crop fast approaching, further price rallies are unlikely.  Production contracts have been hit and miss over the last week but prices still seem to be lingering around $20.00-$20.50/bu picked up with an act of God clause. Even with large 2025/26 flax crops forecast in Russia and Kazakhstan, local pricing is expected to hold firm. Demand for yellow flax continues to pop up sporadically—contact Rayglen if you’re looking to move some.

Soybeans remain under pressure from favorable Midwest growing conditions, heavy supplies and ongoing trade uncertainty. Currently, local soybean prices are hovering between $10.30 – $10.60 per bushel at the farm gate. StatsCan predicts a 5% decrease in dry bean planting, bringing the total area down to 382,100 acres. Recent trade tensions have sparked interest from international buyers. Mexico is seeing lower yields in their winter bean harvest. Currently, dry bean prices are between 35 and 40 cents per pound delivered, with some specialty classes reaching 50 cents and higher delivered. On the export front, there is limited interest in faba beans, with farm gate bids around $9.00 per bushel, while feed quality faba beans are priced at about $8.00 per bushel. However, a recent increase in Australian faba bean prices could create new opportunities for enhancing Canadian exports.

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.