Mustard pricing remains steady, after a slight bump following StatsCan’s acreage estimate, which projected a significant decline in mustard acres. Old crop yellow mustard is priced at $0.44–$0.45/lb FOB farm, while new crop yellow mustard is quoted at $0.45-$0.46/lb FOB farm with AOG. Brown and oriental mustard remain at $0.34-$0.35/lb FOB farm for both old and new crop, though growers may have success posting targets at $0.36/lb with select purchasers. Certified planting seed is available for on-farm delivery, but the window is closing—contact your merchant for pricing and variety options. As a reminder: cleaning your own mustard seed poses risks due to its susceptibility to downgrades and potential contamination with canola and other inseparable seeds. On top of this, we see a general lack of cost effectiveness due to cleanout loss and difficulty securing treatment options. Contact your merchant to discuss it further!

Lentil markets continue their downward trend on both old and new crop bookings. Old crop large green lentils are trading at $0.52–$0.53/lb FOB farm, small green lentils at $0.46–$0.47/lb FOB farm, while small red lentils sit around $0.30/lb FOB farm. New crop pricing for large green lentils has traded around $0.45/lb FOB farm this week, small greens at $0.38/lb FOB farm, and small reds at $0.27–$0.28/lb FOB farm. New crop contracts include a 10 bu/acre AOG clause with a September to December delivery window in most cases. The lentil market has faced consistent pressure over the past couple weeks, and it remains to be seen whether this trend will continue or stabilize. Unfortunately, at this point, there doesn’t seem to be much news to support strong values near term.

Wheat markets are showing some signs of life, though bids remain inconsistent, making price shopping essential. The upcoming U.S. tariff set to take effect next week has stirred some concern, but market reaction has been muted for now. Milling wheat bids remain just below $8.00/bu delivered to the elevator, which may not justify chasing milling premiums over feed in many areas. Feed wheat is trading between $7.00 and $7.50/bu FOB farm, with the strongest bids in southwestern Saskatchewan. Spot durum wheat pricing with summer movement is in the $9.00 to $9.30/bu range, with the best values seen in southeastern Saskatchewan. New crop durum bids are still at $9.00/bu, with some potential price carry into winter 2026.

Growers remain uncertain about oat acres as they search for new crop bids but come up empty-handed. With a lack of firm pricing options, many are considering switching to another cereal. Barley is likely an option, potentially avoiding major U.S. tariff pressures, but with Chinese tariffs now in place, the debate continues over other options as well. Current spot bids for oats are around $4.00/bu FOB farm, with freight sensitivity and a slight uptick for summer movement. New crop pricing is expected to be in a similar range, though buyers remain hesitant. Without clarity on trade relations, uncertainty will persist until planting decisions must be made. If a buyer can sell oats, they will buy, but without confidence in the market, bids are scarce. If you have a target price that works for new crop, consider offering it rather than waiting for buyers to step up with bids.

The chickpea market remains much the same this week. Buyers are willing to purchase but are not aggressively seeking product as they continue to be selective on sizing and quality. Old crop indications range from $0.30 to $0.33/lb FOB farm, with the higher end reserved for premium large sized chickpeas with a high percentage of 9mm. While buyers will still consider smaller sizes, achieving the top-end pricing today is unlikely. As the transition from old crop to new crop approaches, it may be wise to move smaller-sized inventory now, especially with hopes for better quality in the upcoming harvest. New crop contracts with an act of God (AOG) clause are available in the low $0.30/lb range, with some buyers offering different pricing structures based on sizing. Locking in a contract now secures guaranteed price and movement, as major price rallies before harvest seem unlikely. The choice remains to sell or hold with no clear pictures in sight for a market shift.

Canola showed strength Wednesday morning, up $7.20/MT at the time of writing to $585.40/MT. Analysts attribute this week’s gains to increased end-user demand and technical support. However, U.S. tariffs set to take effect next week, combined with ongoing Chinese tariffs, continue to cast a bearish shadow over the market. Lower prices have some growers considering alternatives, but with seeding approaching, options for substituting to other commodities and away from canola may be limited. In northwest Saskatchewan, delivered bids sit at $12.90/bu, plus or minus a dime depending on the delivery window. In east-central Saskatchewan, bids range from $12.35–$12.65/bu delivered. For FOB farm pricing, contact your merchant.

Pea markets remain sluggish, with only occasional trade occurring. A few purchasers this week have offered $16.00/bu for #2 green peas in the right location, possibly indicating continued demand outside of Chinese markets. Yellow peas have been trading between $9.50 and $10.00/bu for April–May movement in the spot market, while similar values have traded for new crop in eastern SK for specialty markets. The maple pea market has gone silent, with most buyers pulling bids entirely. New crop pricing is nearly nonexistent for all varieties while old crop has been quoted as low as $12/bu. StatsCan is projecting an increase in pea acres, larger ending stocks, and weaker exports for the remainder of the 2024–25 crop year. Without a resolution to ongoing trade disputes, the pea market remains in a “wait and see” situation.

The canaryseed market remains quiet, predicated on a healthy amount of farm stocks across the Prairies. Despite solid export movement from Western Canada, prices continue to slide over the past few weeks with enough product trickling in to keep purchasers happy. StatsCan projects a reduction in canaryseed acreage this year, though sharp price declines in other commodities recently could encourage a shift to additional acres. Old crop canaryseed is trading around $0.30/lb FOB farm, while new crop is quoted at $0.27/lb FOB farm with a 10 bu/acre AOG clause.

Soybean markets are closely monitoring South American harvest progress, with Brazilian export forecasts gradually rising. Meanwhile, North American crush volumes have been falling short of expectations, leading to an increase in soyoil inventories. Domestic soybean prices currently range from $10.50 to $10.75/bu at the farm gate. Dry bean processors are still working through old stocks, and while North American markets are under pressure, international demand is beginning to pick up. Export activity has been steady, but concerns remain about potential tariffs impacting buying behavior. Dry bean prices are around $0.40–$0.45/lb delivered, with smaller specialty varieties fetching up to $0.55/lb delivered. Faba bean export interest remains weak, with bids at $9.00/bu FOB farm, while feed-quality faba beans are priced around $8.00/bu. A recent uptick in Australian faba bean prices may create new export opportunities for Canada.

Barley markets remain tight, with StatsCan reporting a 3% increase in domestic usage, reaching 5.7 MMT. This has further reduced carry-out stocks to 0.8 MMT—approximately 32% lower than last year and historically low. Global barley supplies are also down 6% from the five-year average, adding pressure to the market. While feed demand is strong, weakening food and industrial use has tightened supply further. Global barley ending stocks are at 18 MMT, an all-time low, suggesting tight trading conditions in the coming months. StatsCan’s March 11^th seeding projections indicate that 2025–26 total barley supply will be around 9 MMT, a 5% year-over-year decrease due to lower carry-in stocks and reduced production. The global barley acreage is also expected to be 3% below the five-year average, though declines in other commodities may push more acres into the ground. Locally, feed barley bids continue to hover around $5.50/bu FOB, give or take $0.25 depending on farm location, with movement pushed out. New crop remains at $5.00–$5.25/bu, with no act of God.

Flax markets have remained firm over this past week with no major tariff news affecting trade or pricing. Old crop flax is being booked between $19.00 and $19.50/bu FOB farm, depending on freight and movement timeframe, with the best bids available for May–June shipping. New crop flax is currently priced at $16.50–$17.00/bu picked up, including an act of God clause; a great place to start pricing out 10bu/ac. Yellow flax prices remain strong, ranging from $22.00 to $24.00/bu FOB, though supplies seem to be nearly depleted. Buyers have shown interest in contracting new crop as well, so those looking for options are encouraged to reach out. Finally, if you still require certified seed we may still have last-minute availability—contact your merchant for options.

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.