Chickpea markets continue to trade within a relatively stable range, despite news of a potential decrease in North American acreage and reports indicating that 93% of Canadian chickpeas are rated in good to excellent condition. Seeding has progressed slower than expected due to wet conditions, but prices have remained steady. Spot values are holding near $0.27/lb FOB farm for #2 Kabuli chickpeas and around $0.10/lb for feed-grade product across Western Canada and the United States. New crop contracts are currently at par with old crop values, and relatively few contracts have been written, suggesting there could be a larger volume of product to market this fall if trade activity does not pick up. Export demand continues to favour larger-sized chickpeas, typically requiring 30–40% 9mm sizing while limiting 7mm product to 10–20%. This leaves smaller or off-spec old crop supplies more likely to move into feed channels. While the overall supply outlook is tightening, it will take time for the market to work through existing inventories. Internationally, Australia’s 2026–27 chickpea crop is expected to decline by more than 50%, although the impact is partially offset by ample carryover stocks that continue to support global supply.

Barley markets have seen little change from last week. Old crop indications remain in the $5.00 to $5.75 per bushel FOB farm range, although market sentiment appears to be softening slightly. It is likely that once buyers secure sufficient tonnage at these levels, prices may begin to ease as the wait for new crop shortens. Despite this, current values remain strong and present a reasonable opportunity to move inventory, particularly given expectations for a solid feed barley crop in 2026. There are still some new crop contracting opportunities available, with a Prairie-wide average around $5.00 per bushel FOB farm. A few buyers may still be open to including an act of God clause on these contracts, though those opportunities continue to fade weekly.

Oat markets remain quiet, with little change week-over-week. Milling-quality oats continue to be quoted in the $3.30 to $4.15 per bushel delivered range with strongest values seen in Manitoba. At this time of year, it is common for demand to slow, as buyers typically secure coverage well in advance. This often leaves the market in a holding pattern, focused on moving remaining contracted old crop supplies while waiting for the arrival of the 2026 harvest. With seeding delays across parts of the Prairies, there is some expectation that oat acres may have increased slightly compared to earlier projections.

Next week, Statistics Canada will release its acreage report, which will provide a clearer breakdown of seeded pea acres by type. Expectations are that yellow pea acres will be similar to last year, while green and maple pea acres are likely to decline. Given the current carryover of green and maple peas, a reduction in acres would be a welcome adjustment to help balance supply. Pea prices have softened, which is typical for this time of year. Old crop yellow peas are currently indicated between $7.50 and $8.25 per bushel picked up. Green peas have weakened further, with many buyers stepping away from the market and posting no bids until demand improves. Maple peas are holding in the $10.00 to $11.00 per bushel picked up range. New crop values remain steady, with yellow peas at $8.00 to $9.00 per bushel FOB, green peas around $9.00 per bushel FOB, and maple peas between $10.00 and $10.50 per bushel FOB, all including an act of God clause.

Flax prices are mostly trading sideways, although limited buying interest is beginning to shift focus toward new crop supply. Old crop prices are ranging from $16.50 to $17.50 per bushel FOB, while new crop values are sitting near $16.00 per bushel picked up with an act of God clause. These price levels are expected to converge in the coming weeks. Old crop pricing continues to find support from steady export demand out of Canada. However, yield variability remains a possibility depending on seeding timing across different regions. Kazakhstan continues to be a dominant exporter of flax, with China and Belgium as key destinations, and favourable crop conditions reported in both Russia and Kazakhstan are likely to weigh on new crop pricing moving forward.

ICE canola futures were lower at midday Wednesday, pressured by a sharp decline in crude oil prices and weakness across competing vegetable oil markets. As tanker traffic through the Strait of Hormuz continued to normalize, crude oil values retreated, while lower prices in Chicago soyoil and Malaysian palm oil added further pressure to canola. Despite the softer tone, November canola futures remained relatively well supported at approximately $746/MT at the time of writing, up roughly 7.5% from year-ago levels, backed by strong domestic crush demand. Crop development across Saskatchewan has generally been favourable, with recent rainfall benefiting most regions, although warmer temperatures would help advance growth and maturity. Looking ahead, strong domestic processing demand and ongoing uncertainty surrounding global vegetable oil supplies and trade flows continue to provide underlying support for longer-term canola price prospects. July futures were trading near $737/MT at the time of writing.

Soybean futures have pulled back from overnight gains, partly driven by declining crude oil prices. There is measured optimism surrounding renewed demand from China and stable crop conditions that have not improved enough to pressure prices lower. However, upside potential remains limited as growing conditions across much of the Midwest stay favourable, and traders continue to anticipate larger acreage and production this season. Local bids are currently sitting between $12.25 and $13.00 per bushel FOB farm. U.S. black and pinto bean prices continue to strengthen, suggesting supplies are tighter than previously expected. This is lending support to Canadian values despite relatively limited buyer activity. Domestic demand for faba beans remains firm, driven by 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.

Canaryseed prices remain stagnant, as buyers are still able to source product at current levels and there is little urgency to move large volumes. Spot bids are generally in the 18 to 19 cent per pound range, depending on location and timing. Securing timely movement is becoming more challenging as shipment windows fill and extend into late summer. For fall delivery, some buyers are indicating values closer to $0.20 per pound picked up on farm with an act of God clause, although producer participation has been limited so far. Seeded acreage was expected to decline this year, and there is growing speculation that delayed seeding may have reduced acres even further ahead of the next report.

Wheat conditions across Saskatchewan have remained favourable through June, with strong ratings reported province-wide. As of June 15, the Saskatchewan Agriculture Crop Report rated spring wheat at 18% excellent and 64% good, winter wheat at 6% excellent and 73% good, and durum at 11% excellent and 78% good. Wheat markets are factoring in global production potential and the rapid pace of the U.S. winter wheat harvest, with analysts generally comfortable with current supply estimates. Locally, CPSR wheat is priced at $6.68 per bushel delivered into central Saskatchewan, with an 8 cent per bushel monthly carry out to December, reaching $7.02. CWRS into central Saskatchewan is trading between $7.15 and $7.50 per bushel delivered for September through December movement, while soft white wheat is priced at $6.60 to $6.65 per bushel delivered for November through December. Feed wheat into northwestern Saskatchewan is trading between $7.50 and $7.75 per bushel depending on delivery timing, with a premium of $7.90 per bushel for August delivery. Feedlot alley bids are showing $7.35 per bushel delivered for new crop movement. For other wheat classes, reach out to your merchant for pricing.

Mustard markets have remained remarkably flat, with little change in pricing. The positive takeaway is that values continue to hold a solid floor and new crop bids continue to hold premiums over the spot market in some cases. Recent rains across growing areas have supported crop development, with growers reporting favourable early conditions. Spot yellow mustard is currently in the $0.39 to $0.40 per pound range for #1 quality, while brown and oriental types are holding in the $0.36 to $0.37 per pound range picked up on farm. For off-grade product, it is still worth reaching out, as there may be opportunities to find a home. New crop pricing remains similar to spot values, with, as mentioned, some opportunities presenting themselves for a bit of a carry in value. Contracts are typically available for 5 to 10 bushels per acre and including an act of God clause. With flowering beginning on some early-seeded fields and a continued forecast for moisture, conditions remain supportive for crop development.

Lentil markets continue to soften as summer progresses. Large green lentils have recently traded in the $0.22 to $0.23 per pound FOB farm range with movement pushed into July and August, although many buyers are currently showing no bid. New crop large greens are trading around $0.23 per pound FOB farm with AOG. Small green lentils have become very quiet, with limited buyer interest in old crop supplies. It is increasingly difficult to find bids for #1 quality and nearly impossible to market #2 quality product. Around $0.16 per pound FOB farm may be the best available bid for #1s at this time. New crop small greens have traded between $0.20 and $0.21 per pound FOB farm, although many buyers are beginning to fill their coverage needs. Red lentils continue to outperform the green market, with old crop trades reaching $0.23 to $0.24 per pound FOB farm. New crop red lentils have traded between $0.22 and $0.23 per pound FOB farm with an act of God clause. Markets have entered their typical summer slowdown, with prices gradually easing as buyers prepare for the arrival of the 2026 crop. Additional pressure is coming from larger-than-normal volumes of old crop being marketed as producers work to free up bin space ahead of harvest. Looking ahead, if the new crop delivers average yields and #2 quality or better, old crop lentils may be pushed to the back burner as buyers shift focus to fresh supplies. Producers holding old crop inventory should monitor opportunities closely, as market interest could become increasingly limited once new crop movement begins.

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.