Canaryseed markets continue to follow the same trend seen over the past several weeks. Old crop indications are holding around $0.19/lb FOB farm for June movement, with little in the market suggesting any near-term upside. New crop contracts, including an act of God clause, are being quoted at $0.20/lb FOB farm, with buyers willing to contract up to 15 bushels per acre. As has been mentioned previously, the expected carryover from 2025 combined with 2026 seeding intentions has buyers feeling comfortable that demand can be met with available supply. As a result, there is little urgency from the buy side to push prices higher.  Firm offers and clear targets continue to attract buyer attention, so if you have specifics in mind, it may be worth putting it forward.

Barley values continue to show strength across the Prairies, despite heading into the summer months. Current indications range from $5.25 to $6.00 per bushel FOB farm for June and July movement, with stronger pricing closer to feedlot alley. As has been noted for some time, locking in tonnage at these levels continues to make sense. With 2026 seeding underway across the Prairies, delays in some areas could cause a potential acreage to shift to barley due to its shorter growing season. New crop values are largely in line with old crop, although there is at least one buyer offering a full act of God contract with indications around $5.00 per bushel FOB farm. This is worth strong consideration, as it provides an opportunity to secure value, generate earlier cash flow, and create additional bin space on the farm, while eliminating production loss risk.

Oat buyers remain active, although a pricing gap continues between what buyers are willing to pay and what sellers are targeting. Current interest for summer movement is around $4.25 per bushel delivered into Manitoba, while Saskatchewan bids are generally closer to $3.50–$3.70 per bushel delivered. New crop bids in the Saskatoon area are near $3.00 FOB farm. Statistics Canada’s latest estimate places oat ending stocks at 1.91 million tonnes, the second largest carryout in the past five years, which could weigh on prices as the crop year progresses. In addition, late spring conditions across key northeastern growing regions may encourage increased seeded acreage, adding further downside pressure to the market.

Chickpea markets remain slow and steady as we reach mid-May and seeding progresses in many areas. Buyers continue to show interest in contracting, but sellers are either focused on fieldwork or still evaluating whether current bids justify making additional sales. Quality concerns persist, with higher green count, damage and smaller seed size make up a significant portion of carryover stocks. The market appears to be waiting for clearer outlets for both high- and lower-quality product, which keeps things relatively flat for now. Globally, attention is focused on upcoming U.S. acreage and already-seeded acres in Turkey. The pet food sector has also been a quieter factor that could help move lower-quality supply, though it remains unclear what will be needed to re-energize that demand.

Canola prices continue to find support from strength in soybean oil and crude oil markets, ongoing biodiesel demand and weather concerns. This includes delayed seeding across the Prairies, dry conditions in parts of Western Canada, and expectations for a smaller Australian crop. The widening carry in the market suggests expectations for solid acreage, larger supplies later in the year, and softer post-harvest basis levels. Bullish influences include tight global vegetable oil stocks, strong biofuel demand, Prairie weather risks, potential recovery in Chinese demand, and concerns around Australian production. On the bearish side, large Canadian supplies, uncertain export pace, potential pressure on crush margins, and the possibility of increased seeded acreage if conditions improve are all weighing on sentiment. Canadian canola exports have surpassed 10.1 million tonnes year-to-date compared to 6.6 million tonnes at the same point last year, with recent weekly exports exceeding 300,000 tonnes on strong global demand. Current bids remain profitable relative to long-term averages. At the time of writing, July futures are sitting at $755.40 per tonne, with November at $766.90 per tonne. New crop basis levels are showing significant variability, ranging from 28 to 65 under, creating a wide spread in pricing opportunities.

Seeding progress across Saskatchewan has been delayed, particularly in the northern and eastern regions of the province. If delays persist, there is potential for some pea acres to be pulled out of rotation this year. At present, yellow peas continue to show some strength, supported by buying interest from China and India, as current pricing sits around $8.00 per bushel picked up on farm, with similar values for new crop being shown. Green peas are lagging, with old crop values slipping to around $9.50 per bushel picked up, while new crop is in the $9.00 to $9.50/bu range delivered. Maple peas remain quiet, with occasional bids between $10.50 and $12.00 per bushel picked up depending on variety. New crop maple pea values are holding in the $10.00 to $11.00 range.

Flax exports into China have increased, with bulk shipments expected to move into Europe in the near term. Prices have remained relatively flat over the past few weeks, ranging from $17.25 to $18.00 per bushel picked up. New crop pricing appears to be capped around $16.00 per bushel FOB with an act of God clause. Old crop values are expected to gradually soften to align more closely with fall pricing. For those looking to move flax during the summer months, current values present a reasonable opportunity. Carryover stocks in the system are beginning to weigh on U.S. crusher bids, contributing to softer spot pricing. Looking ahead, flax acreage could increase for the 2026/27 season, which would add further pressure to prices. Sustained support will likely depend on stronger demand from China. Yellow flax continues to hold firm, with old crop values in the $22.00 to $24.00 per bushel range and new crop bids between $19.00 and $20.00 per bushel FOB.

The U.S. wheat production report this week showed the lowest output since the 1970s, driven by reduced acres in hard red spring wheat and ongoing drought conditions across much of the U.S. winter wheat belt. This has provided a strong lift for the market, with wheat futures gaining more than 50 cents since last week. The rally has cooled slightly by midweek, but it is still encouraging to see some positive movement on the pricing front outside of canola. Locally, seeding progress has picked up in the southern and western parts of Saskatchewan, while excess moisture continues to create challenges in the northeast. It remains to be seen how these conditions will ultimately impact total seeded wheat acres as we move further into the spring.

Soybean futures moved higher following a USDA outlook pointing to stronger demand and tighter supplies, supported in part by continued growth in the biofuels sector. There is also significant attention on the upcoming U.S.-China summit, which has raised expectations for potential additional soybean purchases from China. Local bids are currently ranging between $14.00 and $14.50 per bushel FOB farm. The dry edible bean market remains relatively quiet but continues to find support from low carryover stocks in smaller classes and steady export demand from Mexico and the United States. New crop pricing for larger volume classes remains cautious as growers weigh acreage decisions against stronger returns from cereals and oilseeds. Demand for faba beans continues to build in both feed and fractionation markets, supported by ongoing investment in plant protein capacity across Western Canada. Old crop export-quality supplies are tight, which is helping support bids, while new crop pricing remains sensitive to acreage and yield potential. Farm gate offers are around $8.00 per bushel for #2 export quality, with feed-grade faba beans trading near $7.50 per bushel FOB farm.

Mustard markets remain in a sideways trading pattern this week as seeding progresses across southern Saskatchewan and Alberta, with early reports confirming this crop is hitting the dirt. Buyers appear comfortable at current price levels, and the market feels relatively balanced with some spot trade activity taking place. New crop bookings could begin to pick up as planting progresses, but for now remain subdued. There is also some hope for moisture in southern regions, with a larger weather system expected later in the week. Old crop values continue to hold within recent ranges, with occasional premiums available for later delivery. Yellow mustard is trading around 39 to 40 cents per pound picked up, brown mustard at 35 to 36 cents, and oriental mustard near 36 cents, all based on #1 quality. Lower grade product may still find a home, and it is worth discussing options to determine FOB pricing across different grades. New crop values are currently holding at 40 to 42 cents per pound for yellow mustard, 35 to 37 cents for brown, and 34 to 36 cents for oriental. Stronger pricing may be available for extended delivery windows, with act of God contracts included.

Buyers are showing increased interest in red lentils this week, with pricing ranging between $0.25 and $0.26/lb FOB depending on freight and delivery timing. It has been nearly a full year since red lentils have reached these spot levels. Prices are strengthening on the back of concerns out of India, where concern of a potential shortfall in this year’s lentil crop has been expressed. Those concerns have not carried over into the green lentil market, where prices are struggling to maintain last week’s levels. The highest trade reported for small green lentils this week has been around $0.19/lb FOB for #1 quality, while large green lentils are trading in the $0.24 to $0.25/lb FOB range for #2 spec depending on freight costs. Generally speaking, movement timelines are increasingly being pushed into late July, while some purchasers are already booking into August. As we move into the summer months, old crop lentil movement may become increasingly difficult to secure, so growers are encouraged to plan ahead for bin space needs.

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.