With seeding largely complete and favourable weather across much of Western Canada and Montana, the chickpea market has started to see a pickup in trade activity. While values for both spot and new crop remain unchanged, the volume of bushels moving has increased, particularly in the spot market. Bids continue to hold steady at $0.27/lb FOB farm for June and July movement, with new crop values at similar levels including an act of God clause and some freight sensitivity. Buyer interest remains focused on specifications of a minimum 30–40% 9mm size and a maximum 10–20% 7mm. Feed markets continue to see limited activity, with values holding around $0.10/lb FOB farm depending on quality factors. There is growing curiosity around whether drought concerns in India could begin to influence the chickpea market and provide support in North America, or whether increased seeded acres and favourable growing conditions will result in another solid crop and keep prices subdued as the market works through existing carryover. It is still early, but at least there is a developing story to follow.

The pea market has moved into its typical seasonal downturn, with old crop bids beginning to soften. Yellow peas have held relatively steady so far, with bids around $8.00 to $8.25 per bushel picked up. Green peas have weakened, slipping back to $9.50 per bushel delivered and $9.00 FOB becoming increasingly difficult to find. Maple peas have also pulled back, with some buyers stepping away from certain varieties altogether. New crop values remain largely unchanged. New crop yellow pea bids range from $8.00 to $9.00 per bushel picked up, with the higher end tied to southeast Saskatchewan and protein and glyphosate-free programs. New crop green peas are holding around $9.50 per bushel delivered, while maple peas are trading between $9.50 and $11.00 per bushel picked up contingent on variety.

Barley markets continue to follow a steady, sideways trend similar to recent weeks. Old crop indications remain in the $5.25 to $5.75 per bushel FOB farm range for June and July movement, with stronger pricing available closer to feedlots around Lethbridge. For those still undecided, the likelihood of a meaningful rally appears limited under current conditions. Carryover stocks, expected seeded acres, and timely rains across the Prairies are contributing to expectations for a potentially above-average barley crop. If realized, this would shift the market further toward a supply-driven environment where production could outweigh demand. There is still some opportunity to secure new crop contracts with act of God clauses, although that window is gradually narrowing. It may be worth reviewing pricing and delivery options while they remain available.

Flax prices are starting to trend lower as they move closer to new crop values. Current pricing is ranging from $16.50 to $17.00 per bushel picked up, while new crop values are somewhat inconsistent, generally around $16.00 per bushel FOB with an act of God clause. Export demand will need to continue improving in order to keep carryover stocks at manageable levels. Russian supplies have increased since the winter months, with China remaining a key destination. If demand from China can be sustained, it should help stabilize prices despite the added pressure from larger global supplies. For those still holding yellow flax, buyers continue to show interest in both old and new crop, and it may be worthwhile to check in with your variety specifics to determine current pricing opportunities.

Mustard markets have seen limited activity over the past week, with spot prices holding steady. Current trades are sitting in the $0.39 to $0.40/lb range for #1 yellow mustard, and $0.36 to $0.37/lb for brown and oriental mustard on a picked-up-on-farm basis. New crop opportunities remain largely in line with spot pricing for those looking to hedge some production risk. Most mustard contracts are structured around the first 10 bushels per acre and include an act of God clause covering both quality and quantity. Buyers generally prefer that producers carry crop insurance on contracted acres. Seeding is mostly complete across mustard-growing regions, although there is some expectation that late-seeded areas may come up slightly short due to ongoing weather challenges. Final acreage totals remain uncertain, as progress is still behind the typical pace by a noticeable margin. That said, early crop conditions appear generally positive, though there is still a long growing season ahead.

As of June 1, Saskatchewan Agriculture reported that 90% of durum and 85% of spring wheat had been planted across the province. Crop conditions are rated at 21% excellent and 69% good for both durum and spring wheat, indicating a strong start in most areas. Despite a later start in some regions, markets are viewing current crop progress and conditions as generally comfortable, while continuing to monitor global wheat production for any emerging stress factors. Focusing on durum, recent reports suggest seeded acreage may have declined to as low as 5.5 million acres, which could result in a smaller crop compared to last year. While Canadian durum has benefited from timely rainfall, more than half of the U.S. durum crop is experiencing some level of drought stress. Locally, wheat prices are sitting around $7.95 per bushel delivered to plant in central Saskatchewan, with similar bids into feedlot alley for June and July movement. New crop wheat bids into feedlot alley are currently ranging from $7.60 to $7.75 per bushel delivered for August through November movement. Feed wheat bids across Saskatchewan are quoted between $6.00 and $7.00 per bushel FOB farm, depending heavily on location and quality. For pricing on other wheat classes or to firm up FOB farm bids specific to your area, it is recommended to contact your merchant.

Canaryseed markets remain flat, with light trade activity continuing. There are indications that seeded acres may be down this year, based on feedback from growers and reports of sluggish seed sales from seed growers. However, a sizeable carryover remains in farm bins across the province, continuing to weigh on the market. Old crop pricing is holding around $0.19/lb FOB farm for June and July movement. Given the current carryout situation, moving a portion at these levels may be the best strategy to clear up bin space as a near term rally doesn’t seem likely. New crop contracts are available with indications around $0.20/lb FOB farm, including an act of God clause, with most buyers targeting 10 bushels per acre. For those looking to secure additional coverage, there may be opportunities to negotiate act of God contracts above 10 bushels per acre. This could be a solid approach for fall movement, particularly if prices remain relatively flat.

Lentil markets continue to soften as summer approaches. Large and small green lentils are becoming increasingly difficult to market, as most buyers have their summer needs covered and are able to wait for new crop supply. Reports of some companies now pushing September delivery shipping windows on old crop large greens have also popped up. Large green lentils have been trading between $0.21 and $0.23/lb FOB farm for June through September movement, depending on the buyer. New crop values are in the $0.23 to $0.24/lb FOB farm range with an act of God clause for September to December delivery. Small green lentils are priced at $0.17 to $0.18/lb for old crop, with new crop values at $0.22 to $0.23/lb FOB farm, also including an act of God clause for September to December delivery. With new crop pricing currently stronger than old crop, buyers are cautioning that old crop lentils cannot be delivered against new crop production or deferred delivery contracts. Loads that are not from the 2026 crop are expected to be rejected or heavily discounted. Producers should anticipate a two-tier pricing structure emerging this fall due to the large 2025 carryout of green lentils. The only scenario in which this structure is avoided would be if this year’s crop comes off in poor condition. Red lentils remain relatively stable compared to greens. Old crop values are holding in the $0.24 to $0.25/lb range, with new crop at $0.23 to $0.24/lb. The red lentil market will be closely watched as concerns build around weather patterns in India and Australia, particularly the potential impacts of an El Niño event this growing season. If forecasts materialize, both countries could see reduced yields, which may provide some price support for Canadian lentils.

Canola futures on the Intercontinental Exchange were slightly higher today, with both the nearby July contract and new crop contracts posting gains. July futures are sitting at $768.60/mt, while November is at $776.30/mt. The market found support from strength in crude oil, the Chicago soy complex, European rapeseed, and Malaysian palm oil, with higher energy prices also providing spillover support to vegetable oils. In Western Canada, persistent rainfall continues to delay seeding in some regions, while overland flooding has added further challenges. Although the recent precipitation has helped ease drought conditions in certain areas, it has also slowed spring planting progress. The July and November canola contracts are currently trading near their 20-day moving averages, with the broader uptrend remaining intact. The new crop November contract has also moved above key moving averages, providing additional technical support.

The oat market has remained relatively quiet over recent weeks. Attention is now shifting toward the possibility of increased oat acreage, particularly in northeastern Saskatchewan, where delayed seeding has led some growers to consider shorter-season alternatives such as oats and barley. Given that oat supplies are already ample, any meaningful increase in planted area could add further pressure to the market, making acreage developments an important factor to monitor. In light of this outlook, producers may want to consider moving a portion of old-crop inventory to help manage downside risk. Current delivered bids for #2 oats into Manitoba are holding above $4.00 per bushel, while new crop pricing delivered to Saskatchewan mills is generally ranging between $3.25 and $3.50 per bushel, depending on delivery timing.

Soybeans bounced in line with broader grain markets, supported by rising crude oil prices and renewed geopolitical tensions in the Middle East. However, large speculative long positions continue to leave the market vulnerable to additional downside pressure. Favorable U.S. growing conditions, expectations for increased planted acreage, and potential upward revisions to South American production estimates are all expected to limit the upside in rallies. Local soybean bids are currently sitting between $13.00 and $13.25 per bushel FOB farm. Meanwhile, U.S. black and pinto bean prices continue to strengthen, suggesting tighter-than-expected supplies. This has provided some underlying support to Canadian values, despite relatively limited domestic buyer activity. Domestic demand for faba beans remains steady, supported by both feed and fractionation markets. Current farm-gate bids are near $8.00 per bushel for #2 export-quality faba beans, while feed-grade product is trading around $7.50 per bushel 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.