Barley markets remain relatively quiet this week, with limited traction from the sell side. That said, the pricing continues to present opportunities worth strong consideration. Current indications range from $5.25 to $6.00 per bushel FOB farm for June/ July movement. Given current supply and demand dynamics, moving old crop into this window remains a sound approach. New crop interest persists around the $5.00 per bushel mark, with act of God contracts available for up to 30 bushels per acre. Seeding delays in parts of the Prairies provides potential for increased barley acres as producers look for shorter season options. Locking in a portion of expected production at these levels not only secures historically pricing, but positions growers for early shipping come fall. The inclusion of act of God contracts, covering both tonnage and quality, provides additional flexibility. While discount schedules apply for lighter weight and higher moisture product, this option eliminates the risk of a buyout.

The pea market remains largely unchanged week over week, with yellow peas being the only market segment showing some improvement. Old crop yellows have a few options around $9.00 per bushel delivered, with picked-up pricing ranging from $8.00 to $8.50 per bushel contingent on location. New crop values remain steady at $7.00 to $8.00 per bushel picked up, with act of God contracts available. There is also a new crop glyphosate- and glufosinate-free program in southeast Saskatchewan indicated in the $8.00 to $8.25 per bushel range picked up, though slightly higher firm targets may attract some attention. Old crop green pea  bids have softened again, with values now around $10.00 per bushel delivered, while new crop values are sitting near $9.50 per bushel delivered. Maple peas are quieter this week, with some old crop opportunities around $12.50 per bushel delivered depending on variety, while new crop bids are more subdued at approximately $10.00 per bushel.

The oat market continues to face pressure from carryover stocks, and with seeding delays in the northern and eastern regions, there is potential for additional acreage to shift into oats, adding further downside pressure. Old crop values for delivery into Manitoba are quoted around $4.20 per bushel, while new crop bids into Manitoba are near $4.30 per bushel delivered. Saskatchewan delivery options are also available, with bids closer to $3.50 per bushel delivered. Feed/ sample grade oat markets have been generally uneventful, but sporadic opportunities do seem to pop up. Growers are encouraged to have their specs on hand and consider using firm targets to try and capture these one-off trades/ programs.

Flax exports into China have increased, with additional bulk shipments expected to move into Europe in the near term. Prices have remained relatively flat over recent weeks, ranging from $17.25 to $18.00 per bushel picked up. New crop pricing appears capped around $16.00 per bushel FOB with an act of God clause. Old crop values are expected to gradually soften toward fall levels. For those looking to move flax ahead of new crop, current pricing likely represents a solid opportunity. Carryover stocks are beginning to weigh on U.S. crusher bids, contributing to softer spot markets. Looking ahead, flax acreage could increase for the 2026/27 crop year, raising the risk of oversupply and additional price pressure. 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.

Wheat markets have seen a modest rally following the latest USDA report. Reduced supplies and lower domestic use are helping support prices, along with ongoing concerns around growing conditions in the U.S. Plains. Local values are hovering around $8.70 per bushel delivered for #2 HRS, although the market remains volatile, and it is advisable to check in for daily pricing updates across all grades. The global outlook for the 2026/27 crop year points toward lower supplies and consumption. In addition to reduced U.S. production, Argentina, Australia, and the EU are also projecting smaller ending stocks. Despite this, price upside remains somewhat limited until there is clearer visibility on spring crop development across other key global regions.

With current chickpea markets remaining largely stagnant, attention is beginning to shift toward the 2026–27 crop year. Acreage is forecast to increase by as much as 6%, although current weather challenges could alter those expectations. Large global pulse inventories continue to weigh on the market, even as demand remains steady, with Canadian chickpea exports reaching record levels. Key buyers such as the United States, Turkey, and Pakistan continue to drive demand. India remains the most influential player in the global chickpea market, but its large domestic crop and ample supply are limiting the potential for a meaningful price rally. Overall, demand is strong enough to prevent further downside, but global supply levels remain comfortable, keeping a lid on any significant upside in both nearby and new crop markets.

ICE canola futures were modestly higher Wednesday morning following Tuesday’s strong rally, although both the old crop July contract and new crop values slipped slightly later at the time of writing. Outside market influence remains mixed, with weaker crude oil weighing on the Chicago soy complex, while Malaysian palm oil has traded mostly steady and European rapeseed has posted slight gains. July canola continues to hold above key moving averages. Crush margins have softened in the nearby July position but improved for new crop contracts. ICE July canola futures pushed closer to the $755 per tonne level, supported by weekly export volumes surpassing 300,000 tonnes, marking a crop-year high. Across the Prairies, cool and wet spring weather has caused some seeding delays, and farmer sentiment remains cautious. At the time of writing, July futures are sitting at $751/mt, with January futures at $767.60/mt.

Mustard seeding is beginning to wrap up in some growing areas, even with less-than-cooperative weather conditions. Growers are generally reporting adequate moisture to get crops off to a solid start. Wind has been a challenge in the south, although recent rain showers across southern Saskatchewan and Alberta have been beneficial. Buyers have made few adjustments to pricing over the past week, though new crop activity could begin to pick up as the crop emerges. Old crop mustard values continue to trade sideways, with #1 yellow mustard around 39 to 40 cents per pound picked up, brown mustard at 35 to 36 cents, and oriental mustard near 36 cents. Lower grade product should still be discussed to identify potential marketing opportunities. New crop values are holding at 40 to 42 cents per pound for yellow mustard, 35 to 37 cents for brown, and 34 to 36 cents for oriental, depending on pickup timing. If additional seed is needed due to frost or wind damage from recent weather, it may be worth checking in for available supply in the west.

Soybean futures have been quieter this week following a week of more active trade, with price movement becoming more subdued. Markets have softened slightly midweek, influenced in part by updated projections showing higher Brazilian soybean exports for 2026 than previously expected. Local bids remain in the $14.00 to $14.50 per bushel range, consistent with last week, for those still holding product in the bin. Local trade activity has been relatively light, as on-farm supplies are limited and buyers are not aggressively pursuing additional coverage. Faba bean growers can expect bids in the mid-$7.00 per bushel range, with little fluctuation in that market recently. For those with edible beans either in storage or currently being planted, it may be worthwhile to reach out to discuss potential pricing options on both new and old crop specific to your farm.

Lentil markets remain largely unchanged from last week. Large green lentils continue to trade in the $0.23–$0.24/lb FOB farm range, with movement extending as far out as August. Small green #1 grade lentils are indicated in the $0.18–$0.19/lb FOB farm range, while #2s are proving more difficult to move, as the market remains backed up with product that did not meet production contract specifications. Small green lentils remain relatively quiet, with limited buyer interest at this time, but periodic sales opportunities do exist. Red lentils continue to be the standout, with trades occurring between $0.25 and $0.26/lb FOB farm on old crop, with indications around the mid 20’s including an act of God for new crop. Interest in reds is being supported by concerns around potential El Niño impacts in India and Australia.

Canaryseed is trading steadily in the $0.19–$0.195/lb FOB farm range for June movement. The market appears unlikely to see much upward movement in the near term due to a larger-than-normal carryout. Even with some discussion around reduced acreage, buyers do not appear overly concerned, as new crop pricing is currently in line with old crop values and carryover stocks should alleviate concern over short supply this coming season. There are also increasing concerns from buyers regarding ergot presence in canaryseed in certain regions, particularly across southwestern and west-central Saskatchewan. Before marketing, it may be worthwhile to have grain re-tested, as allowable ergot levels are limited to 0.04%.

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.