Pea markets are adjusting as the 2026 harvest approaches, which has been putting some pressure on old crop values. Yellow peas continue to hold relatively steady week-over-week, with current indications ranging from $8.00 to $8.50 per bushel FOB farm for June- August delivery. Green peas have softened, with overall demand appearing weak. Indications are sitting in the $9.00 to $9.50 per bushel FOB farm range, although finding firm bids at those levels is becoming increasingly difficult. Maple peas are quoted between $9.50 and $11.00 per bushel FOB farm, depending on variety and delivery timing. New crop values remain largely unchanged, with the strongest opportunities appearing in yellow pea bids. New crop yellows have traded in the $8.00 to $9.00 per bushel FOB farm range, including an act of God clause, with the strongest bids available in Southeast Saskatchewan for glyphosate free protein markets. Call your merchant to discuss!

The canaryseed market continues to be well supplied, with an expected large old crop carryover weighing on prices. Even with a potential decline in seeded acres, overall supply remains comfortable, keeping values capped. Current old crop pricing is in the $0.18 to $0.19/lb picked up on farm range for June and July movement. New crop holds a slight premium, with bids around $0.19 to $0.20/lb picked up on farm, including an act of God clause. Assuming a normal growing season, pricing is likely to remain within this range, as supplies are expected to remain adequate.

The barley market softened slightly this week, largely due to timely rains across key growing regions. Old crop pricing currently ranges from $5.25 to $5.75 per bushel picked up on farm, with stronger values seen closer to feedlot alley. Some areas are still seeing new crop bids near $5.00 per bushel picked up, although these values have begun to soften as well. Growers looking to forward contract a portion of expected production may still be able to capture an act of God clause, though these opportunities are fading quickly. It is recommended to check with your merchant for FOB pricing specific to your location. If favourable growing conditions persist, additional downward pressure on prices is likely as supply expectations increase.

Oat prices remain sideways for another week, with market dynamics suggesting steady values over the next couple of months. For #2 CW oats, bids currently range from $3.30 to $4.15 per bushel delivered, with the higher end of that range quoted for product landed in Manitoba. Rather than focusing on new crop sales for 2026, many analysts are recommending moving a portion of old crop inventory, as overall supplies remain well stocked. With a heavier carryout, the oat market is unlikely to see any significant price increases in the near term. If additional acres were seeded due to delayed planting conditions, this could add further pressure to the market. Occasional buying opportunities for lower grade oats do surface, so it is important to understand your grain quality to ensure you can capture those opportunities when they arise.

Markets are closely watching the June 30, 2026 Statistics Canada acreage report, which is expected to provide a clearer picture of planted wheat area following a delayed and wet Prairie spring. March intentions indicated total wheat acres were down 1.1% year over year, with spring wheat nearly unchanged and durum down 2.4%. Overall, the Canadian crop is developing well, supported by improved moisture across much of Alberta, Saskatchewan, and Manitoba. However, excessive rainfall and flooding from east of Yorkton through parts of Manitoba have resulted in production losses and prevented some acres from being seeded. The Peace region of Alberta remains on the dry side and will require continued monitoring. In the United States, wheat futures have rebounded to around $6.00 per bushel, supported by short covering and strong harvest progress. Winter wheat harvest has reached 25% complete, compared to the 13% historical average. Crop conditions have also improved modestly for both winter and spring wheat. Globally, the USDA’s June WASDE report lowered Australian wheat production by 2 MMT and increased Russia’s crop by 2 MMT, leaving world ending stocks largely unchanged. That said, many analysts believe both Australian and Russian production estimates could trend higher if favourable growing conditions continue. The reopening of the Strait of Hormuz has also reduced geopolitical risk premiums across grain markets. While global crop prospects appear slightly larger than they did a month ago, Canadian exports remain competitive. Wheat markets are expected to trade sideways in the near term, with weather developments across Canada, the northern United States, Argentina, and Australia likely acting as the primary drivers of price direction. Currently, bids are around $8.10 per bushel delivered into Saskatoon for a 13.5 protein #2 red spring wheat with July delivery. Feed wheat bids are hovering between $6.00 and $7.00 per bushel FOB farm, depending on location for summer movement.

Lentil markets have seen little change from last week, with a softer tone as crop prospects continue to look favourable across much of the Prairie growing region. While lentil crops are progressing well domestically, the Indian monsoon has delivered below-average rainfall through June and will need to improve to reach normal levels. Australian red lentil production also appears strong, making both regions important to monitor as new crop approaches. Locally, #2 large green lentils have been trading around $0.23/lb FOB farm, with some opportunities in the $0.24 to $0.25/lb range for delivery to plant. While summer shipping options remain available, some buyers have pushed Laird bids out to September delivery. #1 small greens continue to trade around $0.18/lb FOB farm for June and July movement. Buyers are also showing interest in lower-grade green lentils, with bids varying depending on quality and the nature of downgrades. Red lentils are trading within a range depending on proximity to the buyer, with values between $0.23 and $0.25/lb FOB farm. Other lentil classes have seen lighter activity, with beluga lentils trading around $0.36/lb FOB farm for late summer movement, and French greens indicated at approximately $0.21/lb FOB farm for June and July shipping. As we move through mid-June, act of God contracts are available on most lentil types. It is worth discussing pricing, delivery options, and potential downgrades with your merchant if you are considering fall sales. As noted previously, some buyers will not accept 2025 crop against 2026 production contracts, making it especially important to review marketing plans as the new crop window approaches.

Chickpea prices have remained relatively steady, with current bids for large Kabuli chickpeas holding around $0.26/lb picked up on farm for #2 quality. For larger-sized product, such as lots with 30–40% 9mm and better, there may be an opportunity to capture an additional cent with firm targets. Seeding progress locally is behind pace, as weather challenges have delayed planting in some areas. With the window for chickpeas narrowing, there is potential for reduced acreage compared to earlier expectations. While recent rains have supported crop development, they also increase the risk of disease pressure. Globally, uncertainty remains around the impact of India’s monsoon season and whether Australia will see a smaller crop. For now, prices continue to trade sideways.

Canola markets experienced notable volatility over the past week. Prices started strong, supported by concerns over wet weather across parts of the Prairies and the potential impact on crop progress and production. Additional support came from stronger crude oil prices, which often influence vegetable oil markets. As the week progressed, however, prices pulled back as crude oil weakened and traders took profits following the recent rally. Despite the pullback, canola values remain historically strong, with the market continuing to focus on Prairie weather conditions, crop development, and global demand. Weather remains the primary driver of price direction as the growing season unfolds.

Flax markets were somewhat mixed over the past week, with trades ranging from as low as $17.00 to as high as $17.75 per bushel FOB farm. Price variation was largely driven by differences in quality and freight costs. The market is expected to gradually soften as new crop approaches, with buyers currently showing interest in only limited tonnage. New crop pricing remains relatively thin, with trades reported between $16.00 and $16.50 per bushel. With seeding delays across the province, it will be important to compare final acreage figures in the upcoming June 30 Statistics Canada report against earlier estimates. The previous forecast of 753,000 acres may trend lower, as late seeding conditions likely reduced flax acres. In addition, strong canola prices may have encouraged some growers to shift away from flax. It will also be worth monitoring the breakdown between brown and yellow flax acres this year, as there appeared to be increased interest from growers in yellow flax production.

Soybean prices moved higher alongside the broader grain complex last week. Despite this support, the market remains vulnerable to downside risk due to the large speculative long positions currently in place. Favorable U.S. crop conditions, expectations for increased soybean acreage, and the potential for higher South American production estimates are all likely to limit further upside. Local soybean bids are currently ranging from $13.00 to $13.25 per bushel FOB farm. Black and pinto bean prices continue to indicate tighter supplies, which has provided some support to Canadian markets. There have also been opportunities for #1 pinto beans, with offers being considered around $0.31/lb. Current farm-gate bids for #2 export-quality faba beans are near $8.00 per bushel, while feed-grade faba beans are trading around $7.50 per bushel FOB farm.

Mustard markets remain slow but steady, with spot prices unchanged from last week. The market continues to watch early crop development closely as the season gets underway. Current spot values 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-in-yard basis. New crop pricing remains largely in line with old crop values. Mustard contracts typically include an act of God clause and are generally based on approximately 10 bushels per acre. Weather conditions have been generally favourable across mustard-growing regions so far this season. Some of the earliest-seeded fields are expected to begin flowering soon. If moderate temperatures and timely, scattered rainfall continue through June, conditions should remain supportive for crop development and overall yield potential.

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.