Canola continues to be a closely watched commodity, with the conflict in the Middle East still influencing global markets. Tuesday trading finished in the red as crude oil prices pulled back on the day. Other global vegetable oils and rapeseed also traded lower, adding pressure to canola values. At the time of writing, March canola futures are trading at $709/MT, with May and July at $738.60/MT and $747.30/MT respectively. Local pricing includes $15.50/bu delivered in Northwest Saskatchewan for April movement, climbing to over $16.00/bu for May–July deliveries. On the east side of the province, bids are around $16.15/bu delivered for May, with summer shipping periods beginning to fill up. New crop values, depending on location and delivery month, are being indicated at $15.50–$16.00/bu delivered to plant. For FOB farm bids or if you need to move heated product, contact your merchant for location-specific opportunities.

Peas continue to be a quiet grain market week-over-week. No major changes in pricing have been noted, and new crop values remain slow to emerge. Old crop yellow pea bids are shown at $8.00–$8.30/bu delivered, while new crop values are indicated between $7.00–$8.00/bu depending on location and market type, with the higher end tied to a Southeast Saskatchewan protein program. Green peas have softened slightly, with old crop values at $9.50–$10.00/bu picked up on true #2 max 3% bleach product, while new crop is indicated around $8.00/bu. Maple peas are showing values of $10.00–$12.00/bu picked up depending on variety, with new crop bids ranging from $10.50–$11.50/bu picked up, also variety dependent. Yellow pea seed has been a hot commodity lately, with many suppliers noting higher than normal call volumes and some selling out. We have access to a few lots of some of the top certified varieties if you’re looking to secure next year’s planting seed.

New crop chickpea bids have emerged at $0.25/lb FOB farm with an Act of God clause on the first 10 bu/acre and a minimum of 30% 9mm size. While the sizing requirement is fairly standard, the bid level itself has left some producers feeling a bit of sticker shock. It is still early days and this is the first firm value in the market, but there is no denying the volume of chickpeas currently available both domestically and globally. Mexico is expecting a strong crop, Australia also has significant production, and Statistics Canada is already forecasting a 6% increase in Canadian acreage. On the positive side, Canadian exports are increasing due to competitive pricing and could potentially reach record levels. Overall, the marketability of Canadian supplies appears relatively balanced for now, allowing the market to work through stocks while watching for smaller price improvements. There have also been widespread reports of lower germination in chickpea seed this year, so it is important to get seed tested before seeding begins.

Barley markets continue to trend at relatively stable levels, with little change in values over recent weeks. Old crop spot purchases are generally trading between $4.50–$5.00/bu FOB farm with reasonable delivery windows attached. As usual, stronger values tend to appear the closer you are to Feedlot Alley. Considering the overall carryout that is currently expected, which still points to ample supply heading into the next harvest, these price levels make sense. New crop indications are not far off old crop values, averaging around $5.00/bu FOB farm on a deferred delivery contract. With the relatively small spread between old and new crop and the time gap between now and harvest, it suggests old crop values are likely to remain fairly steady. It also comes as little surprise that discussions around malt barley remain minimal. Maltsters are not posting firm bids but are open to hearing offers, so approaching them with a specific asking price may be the only way to generate interest.

Canaryseed has begun to soften slightly in terms of demand this week, which is something the market had been expecting for some time. Old crop values are still indicated around $0.18–$0.19/lb FOB farm, though prompt movement opportunities have largely disappeared. Buyers appear to have filled their nearby needs and with more than comfortable carryover supply anticipated, they are not under pressure to chase additional tonnes. New crop bids are still being indicated around $0.19/lb FOB farm with an Act of God clause, though many buyers are noting that once they secure more acres this price could begin to ease. If canaryseed is part of your rotation this year, locking in some tonnes at these levels may make sense to help ensure earlier movement, particularly if additional carryover supplies begin entering the market and delivery windows tighten.

Wheat markets have shown a little life this week as ongoing global conflicts have lifted broader commodity markets. Milling wheat bids are now reaching the high $7/bu range delivered into elevators or mills for most classes. Durum has also firmed slightly in select areas, with some buyers posting fall delivery bids into the higher $8/bu range delivered. Feed wheat values remain steady this week at $6.00–$6.75/bu FOB farm depending on freight costs. Canadian wheat exports continue to run historically strong, which aligns with the amount of supply currently available. Early indications suggest wheat acres may remain similar to 2025 levels heading into the upcoming planting season, although there is still some time before seeding begins for intentions to shift.

Lentil markets have softened slightly amid concerns surrounding the Middle East situation. Large green lentils are trading around $0.24–$0.25/lb FOB farm for old crop, with new crop values around $0.25/lb FOB farm including an Act of God clause. Small greens are trading at $0.18–$0.19/lb FOB farm, with new crop values at $0.20–$0.21/lb FOB farm with an Act of God. Red lentils are currently $0.23–$0.24/lb FOB farm, with new crop around $0.21/lb FOB farm including an Act of God clause. Rising fertilizer prices tied to the Middle East conflict will be something to watch heading into seeding. While higher fertilizer costs could encourage a shift back toward lentils, stronger canola prices may offset those costs and keep acres competitive. Industry sentiment suggests total lentil acres may not change drastically overall, though there could be a notable decline in small green acres, relatively steady large green acres, and a slight increase in reds.

The brown flax market continues to move along steadily. Commercial inventories have increased as exporters assemble supplies for shipments through Thunder Bay ahead of the Seaway reopening. Canadian flax exports reached 21,200 tonnes in December, marking the strongest December since the 2021/22 crop year, supported by stronger sales into China. European imports have also strengthened, with Kazakhstan supplying over half of the volume and Canada contributing roughly 21,000 tonnes. Despite comfortable global supplies from Russia and Kazakhstan, flax prices have firmed slightly due to solid Chinese demand and exporters building positions for upcoming shipments, while U.S. crusher demand remains relatively flat. Buyer bids are generally around $16.00–$17.00/bu FOB farm depending on location and movement timing. New crop values are hovering around $17.00/bu delivered in Eastern Saskatchewan with an Act of God clause.

Mustard markets have been very quiet this week. New crop values are holding steady, while spot prices remain sluggish. New crop bids have yellow leading at $0.40–$0.42/lb, followed by oriental at $0.36–$0.38/lb and brown at $0.32–$0.34/lb. As usual, longer movement windows tend to attract slightly stronger bids. All new crop contracts include an Act of God clause and are picked up on farm. Old crop yellow remains around $0.36–$0.37/lb FOB farm, with some bids potentially available for lower grades such as No. 2, 3, or 4. Old crop brown remains steady at $0.30–$0.31/lb FOB farm, while oriental mustard continues to trade around the $0.40/lb range. Contact us to discuss certified seed options and delivery to your farm, as several varieties are currently available.

Old crop milling oat demand remains fairly quiet, as most buyers have already covered their nearby needs. Price indications are hovering around $3.00/bu FOB farm for June–July shipment. The buyer pool at this level is limited, so anyone considering this value may want to act sooner rather than later. While overall demand for both milling and feed oats is somewhat subdued, firm offers and realistic price targets are still generating the occasional spot deal, making that a practical marketing strategy. Discussion around new crop remains light, with many buyers already covered into the winter of 2026. Even so, firm offers continue to be one of the best ways to attract interest from buyers. Current new crop indications are around $3.25/bu for September–October delivery and approximately $3.50/bu for November through March delivery into eastern Saskatchewan.

Soy oil futures pushed soybeans higher overnight as crude oil surged again amid concerns about potential disruptions tied to the Middle East conflict. Optimism surrounding demand continues to support both soybeans and soy oil ahead of an upcoming meeting between the U.S. and China. However, the upside for prices may remain limited due to the large supplies expected from Brazil’s record harvest. Local bids for soybeans are currently ranging between $13.25 and $13.50/bu FOB farm. Across North America, supplies of black and pinto beans remain strong, although inventories are gradually beginning to tighten. Demand from Mexico is expected to ease back toward more typical levels due to increased competition from other global suppliers. This shift is placing some downward pressure on black and pinto bean prices. In contrast, smaller specialty colored beans are expected to see stronger demand and firmer pricing due to tighter supplies. Currently, bids for black and pinto beans are around $0.28–$0.30/lb, while minor specialty varieties are attracting higher bids closer to $0.60/lb or more. Export interest in faba beans remains limited, with farm gate bids around $8.00/bu and feed quality product priced closer to $7.00/bu 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.