Spot chickpea markets remain unchanged this week, with indications still hovering around the $0.27/lb FOB farm range for June–July movement. Buyers continue to target minimum 30-40% 9mm size and a maximum of 10-20% 7mm. We have also seen light trade into the feed market for chickpeas with high green count, trading around $0.10/lb FOB farm. While these values are not breaking any records, moving product into this market may make sense given that the 2026 harvest is not far off. As new crop supply comes to market, demand and willingness to purchase off-spec chickpeas will likely drop off significantly assuming average quality. Of note, new crop indications perked up with the ability to lock in $0.27/lb FOB farm including an act of God clause in many areas. This is a number worth considering given ongoing discussions around 2026 chickpea acreage. It presents a solid starting point to secure some early movement and generate cash flow. Call in for details and buyer specifications.

Canaryseed remains flat this week, with little change in spot or production values, and given the time of year, this is not uncommon. Old crop continues to move at $0.185-0.19/lb FOB farm for relatively prompt shipment. Considering the large, expected carryout and current 2026 seeding intentions, moving product into this market may be a sensible decision. New crop contract indications are holding at $0.20/lb FOB farm, including an act of God clause, with most buyers willing to contract 15–20 bushels per acre. For those waiting on a potential rally in new crop pricing, it currently does not appear likely in the near term.

Lentil stocks remain comfortable, and pricing continues to reflect that. Exports for the 2026/27 crop year are projected to be the largest since 2019/20, largely driven by lower production in India. At the same time, Turkish supplies of red lentils are expected to increase by 54% and green lentils by 63%. Overall lentil availability across global markets is expected to remain above average. This dynamic is likely to keep prices steady to slightly softer unless issues arise with India’s kharif crop. Prices have been volatile, but at the time of writing, large green lentils are sitting around $0.23-0.24/lb FOB farm on a #2 grade. Red lentils are trading between $0.25–0.255/lb picked up, while small greens are holding near $0.18/lb on a #1 and $0.15/lb on #2. New crop large green lentils are currently priced around $0.24/lb, with small greens in the $0.22/lb picked up range, both including an act of God clause. These are values worth considering, not only to lock in pricing but also to secure movement.

Seeding has progressed quickly under hot, dry conditions across many of the primary mustard-growing regions. A meaningful rain over the past couple of days has helped alleviate some of the drought concerns that had been building in these areas. Mustard prices have shown little change week over week. Old crop yellow mustard is currently priced around $0.40/lb, with brown and oriental sitting near $0.37/lb, all FOB farm on a #1 grade. There continues to be sporadic demand for off-spec yellow mustard, so if you have lower quality in the bin, it is worth connecting with your merchant. New crop values are tracking closely with old crop levels. Yellow mustard is priced between $0.40–0.42/lb, while brown and oriental range from $0.36–0.38/lb, FOB farm depending on movement, and include an act of God clause. There have already been reports of flea beetle pressure. Spray options are available through Rayglen if needed and should be kept in mind as the crop develops.

Barley markets have softened slightly this week. Recent rains across Western Canada have improved overall crop outlook, leading to a more relaxed tone from buyers who are anticipating a strong production year. Feed and malt bids are currently very similar, with little premium being offered for malt. Old crop feed barley delivered into Lethbridge, AB is trading around $6.75/bu for June, easing to $6.53/bu into July. New crop values for delivery into Lethbridge are lower, with September pricing around $6.10/bu, followed by modest carry into 2027. Act of God contracts remain available, although they have not yet been a strong driver of new sales and some buyers are considering pulling this option. With ongoing drought concerns in parts of the U.S., there is still some uncertainty around how much support that may provide. However, recent rains across Southern Alberta and generally favourable growing season across Western Canada will likely continue to pressure prices.

Canola futures on the ICE remained firmly higher on Wednesday, trading close to the C$800 per tonne threshold at the time of writing. Prices were supported by strength in competing vegetable oil markets, strong trading volumes, and a softer Canadian dollar. Ongoing military exchanges between the United States and Iran, including missile and drone activity, have further reduced the likelihood of a near-term diplomatic resolution. This tension contributed to an increase of roughly US$1.50 per barrel in crude oil prices, providing additional support to oilseed markets. While market analysts suggest there is no clear fundamental reason for canola to significantly outperform other vegetable oils, geopolitical uncertainty continues to underpin the broader bullish sentiment. Across Western Canada, recent heat has shifted to cooler temperatures accompanied by rainfall and thunderstorms. Similar weather patterns are expected across the Prairies before temperatures begin to rise again later in the week. July futures are currently sitting at $799.10/mt. New crop contracts are also posting gains, up approximately C$14 to C$17 per tonne, with November futures hovering around $803/mt and January contracts trading roughly $5/mt higher.

The oat market has seen very little movement recently, with minimal news to drive any significant change. There are some emerging concerns around increasing seeded acres, particularly in northeastern Saskatchewan, where late seeding conditions have some producers shifting toward shorter-season crops such as oats and barley. Supply levels are already relatively heavy, so it will be important to monitor where these additional acres ultimately land. In the meantime, moving some old crop inventory as a way to hedge against potential pressure may be worth considering. For #2 quality oats, delivered pricing into Manitoba remains north of $4.00/bu. New crop values are currently ranging from $3.25 to $3.50/bu, delivered to mills in Saskatchewan, depending on the movement window.

Pea seeding continued over the past week, with more reports coming in of growers finishing up. Northern and northeastern regions are still working through it, but warm and windy conditions this past week have helped accelerate progress in those areas. Yellow pea pricing has shown some improvement. Current bids on yellow peas range between $8.00 and $8.50 per bushel FOB farm, although the $8.50 level is typically reserved for deliveries close to processing plants and appears to be the top end of the market for now. #2 green peas are priced in the $9.00 to $9.50 per bushel FOB range, though achieving the upper end of that spread remains challenging. Maple peas are trading in the $11.00 per bushel range for Mosaic and Blazer variety, while Acer types have been slower to attract interest. Maintaining an active offer continues to be an effective strategy for marketing maple peas in the current environment. Reach out for details on new crop opportunities. Off-spec and feed peas are trading between $7.50 and $8.00 per bushel FOB. If you are holding product with higher bleach levels from last year, it would be worthwhile to discuss marketing options.

Soybean prices faced a wave of technical selling following the USDA release of initial crop quality ratings, which came in relatively strong, particularly with planting nearing completion. This pressure, combined with ongoing concerns around trade relations with China, contributed to recent price weakness. Local soybean bids are currently sitting in the $13.75 to $14.00 per bushel FOB farm range. In specialty beans, US black bean and pinto markets have strengthened, reflecting tighter-than-expected supply. This has provided some support to Canadian values, despite limited bid activity domestically. Domestic demand for faba beans continues to improve, particularly from feed and fractionation sectors. Farm gate offers for #2 export quality are around $8.00 per bushel, while feed-grade faba beans are trading near $7.50 per bushel FOB farm.

The wheat markets continue to monitor seeding progress across the Prairies while also keeping a close eye on challenging conditions in the U.S. As of last week, 52% of the spring wheat crop in Saskatchewan was planted, with hot weather allowing for additional progress ahead of the weekend rain events. Beyond North America, concerns are also building internationally. Australia is expected to harvest a significantly smaller wheat crop, with recent estimates suggesting production could fall to approximately 26 million metric tonnes, down from 36 MMT last year. The decline is largely attributed to dry conditions linked to the El Niño event, along with rising input costs. Locally, wheat prices in northwest Saskatchewan are sitting around $7.90–$8.00/bu delivered. Central Saskatchewan delivered plant bids are slightly lower at $7.10–$7.15/bu for fall shipping. Feed wheat values remain competitive, with recent trading above $7.00/bu FOB farm in select regions. In Alberta, wheat delivered into feedlot alley is trading above $8.00/bu for summer movement, and in the $7.75–$7.90/bu range for fall delivery. For other wheat types and additional details, producers are encouraged to contact their merchant.

Flax markets are relatively unchanged compared to last week, though pricing continues to vary depending on buyer coverage and freight. Values are generally sitting around $16.50/bu for companies that are fairly well supplied for the remainder of the year. On the east side of Saskatchewan, buyers are paying as high as $18.00/bu for milling quality with low dockage. Most buyers, however, are operating in the $17.00–$17.50/bu range depending on freight costs. Movement is increasingly being pushed into late summer or early harvest delivery windows. New crop bids remain limited, as most buyers are reluctant to take on forward risk at this stage of the season. Yellow flax has been quiet, with occasional trades reported in the $23.00–$24.00/bu range. Flax remains an important commodity to watch going forward, as several factors could influence pricing direction. At present, the market is experiencing its typical seasonal slowdown, which is reflected in both pricing and movement. Earlier in the year, StatsCan estimated seeded flax acres could increase by 26% over last year. However, this figure may be revised lower in the upcoming seeded acreage report at the end of June. Delayed seeding in many flax-growing regions may also lead to acreage shifting into shorter-season crops. If seeded acres come in significantly lower than expected, additional new crop contracting opportunities could emerge later in the season than normal. Quality will also be a key factor to monitor, as late seeding could push harvest into frost risk periods, increasing the potential for grade discounts. If these factors align favourably, flax could become a stronger-performing market this year.

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.