Barley markets continue to follow the same trend we’ve seen over the past several weeks. Old crop values are still trading in the $5.00–$5.25/bu range, although most movement has been pushed into August and bid depth remains limited. New crop contracts are currently valued between $5.00 and $5.50/bu FOB farm, with stronger pricing the closer you get to feedlot alley. Recent rains across the Prairies, combined with later seeding in some areas, have improved expectations for an adequate feed barley crop this year. Locking in a portion of your expected production at current values continues to make sense. As always, firm offers and target prices continue to attract buyer attention.

Flax prices have slipped in recent weeks, with both old and new crop values now ranging from $15.25 to $16.00/bu picked up. The latest Statistics Canada acreage report showed seeded acres lower than the March estimate; however, the reduction is not expected to have much impact on pricing, as acreage could still have been trimmed further. Russia remains the dominant supplier of flax into China, followed by Kazakhstan. Canadian exports to China have improved compared to the past couple of years, helping to add support in old crop values. Looking ahead, increased flax production across the Black Sea region and the U.S. is expected to keep a lid on any significant rallies in new crop pricing.

Statistics Canada reported pea acres down approximately 14% from last year. While lower green pea acreage was widely expected, yellow pea acres also came in below expectations. Due to late seeding and excessive moisture across northern and eastern growing regions, some intended yellow pea acres were likely switched out at the last minute. U.S. pea acreage is also expected to decline following a period of subdued pricing. Overall, the acreage reductions are supportive to pricing, particularly for yellow peas, as export opportunities into China and India are expected to improve. Despite the positive outlook, cash prices remain largely unchanged. Old crop yellow peas are trading between $7.50 and $8.00/bu, green peas continue to struggle to attract bids, and maple peas are around $10.00/bu. New crop values remain unchanged from last week, with yellows at $8.00–$9.00/bu, greens at $8.50–$9.00/bu, and maples around $10.00/bu picked up on farm.

Canola futures climbed sharply Wednesday, reaching their highest level in a month as rising crude oil prices and stronger Chicago soyoil provided spillover support. Crude oil surged more than US$3 per barrel after the United States and Iran exchanged fire following Iran’s attack on vessels in the Strait of Hormuz. The rally in crude oil lifted global vegetable oil markets, with Chicago soyoil gaining more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil also posted gains. Canola also found support from technical buying, with prices holding above key moving averages, along with ongoing weather concerns across Western Canada. Flooding and persistently wet conditions have reduced production prospects in some regions. The forecast is calling for scattered showers today, followed by clearer skies and near-seasonal temperatures. Positive basis opportunities are available in some areas for those looking to market old crop canola. At the time of writing, November futures are sitting at $782.90/mt, while January futures are approaching the $800/mt mark at $793.00/mt.

Oat markets have remained under pressure over the past couple of weeks as ample supplies and favourable crop prospects continue to push prices sideways to lower. Oat futures recently fell to their lowest level in six years, reflecting buyer confidence in abundant global supplies and limited sales opportunities. Weather will remain the key variable moving forward. Continued rainfall could create quality and yield concerns, but with large old crop stocks still available, upside potential for oat prices appears limited in the near term.

It has been another sideways week for chickpeas despite acreage across much of Saskatchewan and into Alberta being rated as high risk for Ascochyta. Warmer temperatures are expected over the coming week, which should help support crop development, but an extended period of sustained heat will be needed to properly dry fields and reduce disease pressure. Daytime highs are expected to range from 20°C to 30°C, with average temperatures closer to 15°C to 20°C. While this will help, it is unlikely to fully resolve current concerns. Precipitation continues to fall across much of the chickpea-growing region, although rainfall amounts have generally been lighter. Overall, the crop has experienced fewer heat units than desired, resulting in slightly stunted growth and increased susceptibility to disease and potential yield loss. A prolonged stretch of warmer, drier weather would greatly benefit the crop as we move further into the summer months.

Wheat markets remain fairly steady this week, with traders continuing to monitor global weather developments. On June 30, Statistics Canada reported wheat acreage at just over 25.5 million acres, down more than 5% from last year. While crop ratings in Saskatchewan remain favourable overall, many areas will be watching closely for issues related to flooding and excess rainfall, as prevented acres and production losses could ultimately reduce the final acreage estimate. The European Union has also been experiencing an intense heat wave during harvest, although strong crop prospects across the Black Sea region have limited the market’s reaction. For local pricing, CPSR is trading around $7.00/bu delivered into central Saskatchewan for September through December delivery, while CWRS is ranging from $7.50 to $7.55/bu delivered over the same period. Soft white wheat is trading between $6.55 and $6.60/bu delivered for November through December delivery. Durum bids in southeast Saskatchewan range from $7.50 to $8.00/bu FOB farm, depending on location and quality specifications, with carry premiums extending delivery into the first half of 2027. Feed wheat bids remain similar to last week, ranging from $6.00 to $7.00/bu FOB farm depending on location. For lower-quality wheat or durum, give your merchant a call, as we continue to find homes for off-spec and heated product.

Mustard prices remain largely unchanged for another week. Sellers continue to move some product to create bin space and generate cash flow, but trade has been relatively quiet, with buyers showing little urgency to secure additional tonnage. The market remains fairly balanced. Current bids are around $0.35/lb for brown mustard, $0.38/lb for oriental mustard and $0.39–$0.40/lb picked up on farm for yellow mustard, all with August movement being quoted. New crop pricing remains largely in line with old crop values, though some contracts may see slight premiums for full crop year shipping windows. Recent moisture has benefited many mustard-growing areas, particularly in southwestern Saskatchewan. Statistics Canada’s latest acreage report showed lower seeded mustard acres than many in the trade had expected. Time will tell which estimate proves more accurate, but if the Statistics Canada numbers are correct, they could provide some upside potential for the mustard market.

Lentil markets remain quiet, with most buyers sitting on the sidelines awaiting new crop supplies. Small programs such as #1 small green lentils at $0.18/lb FOB farm for prompt movement and limited tonnes of #2 large green lentils at $0.24/lb FOB farm are available on “one-off” type purchases, though bids are not deep. Of course, these small programs continue to be freight and quality sensitive so its best to contact your merchant for further details. New crop trade has been relatively light over the past week, with a few #2 large green contracts trading at $0.24/lb (Extra #3’s at $0.22/lb) FOB farm. These contracts include an Act of God clause and picked-up-on-farm terms. Production red lentils have traded at $0.22/lb FOB farm with an Act of God clause, with spot trades sporadic and values generally in the same ballpark. The market is expected to remain relatively quiet through the remainder of the crop year unless additional rainfall significantly impacts crop conditions beyond what has already occurred.

Canaryseed markets have changed very little week-over-week. Prices continue to sit around the $0.18/lb mark, with limited buying interest as export sales have slowed. Most buyers appear to have covered their old crop needs and are expected to remain on the sidelines until new crop becomes available. Buyers were largely unfazed by Statistics Canada’s acreage report, which showed seeded canaryseed acres down approximately 80,000 from last year; 60,000 acres below 2024 levels. Even with reduced acreage, buyers remain confident that ample carryout stocks, combined with the upcoming year’s production, will be sufficient to meet demand. If prices do improve, the rally is expected to be gradual rather than immediate.

Soybean prices moved higher overnight, supported by stronger crude oil markets amid renewed U.S.-Iran tensions, growing weather concerns across parts of the U.S. Midwest, and continued speculation that China is beginning to step back into the U.S. soybean market. While large-scale Chinese purchases have yet to be confirmed, ongoing trade chatter and recent buying activity have added optimism that export demand could improve in the months ahead. Local soybean bids are currently ranging from $12.50 to $13.00 per bushel FOB farm. U.S. black and pinto bean prices continue to trend higher, suggesting supplies may be tighter than previously anticipated. That strength is providing underlying support to Canadian bean prices, despite relatively quiet buying interest. Meanwhile, faba bean demand remains steady, supported by both feed and fractionation markets. Current bids are around $8.00/bu for #2 export-quality faba beans and approximately $7.50/bu FOB farm for feed-grade product.

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.