The chickpea market remains largely unchanged week-over-week. Old crop pricing is holding around $0.26–$0.27/lb picked up on farm, based on a maximum of 10% 7mm and a minimum of 30% 9mm sizing. For lower quality product, having detailed specifications is key to securing a firm bid, with prices ranging anywhere from $0.10 to $0.22/lb picked up. Factors include sizing, damage, green count and overall quality. New crop values continue to be posted at $0.26/lb picked up on farm with an act of God clause. Canada still holds a relatively comfortable supply of chickpeas, although a significant portion of that carryover is lower quality. Overall, there are few supportive factors in the market to push bids higher, as global supply remains ample.

Barley markets are flat again this week, with current pricing ranging from $5.25 to $6.00 per bushel FOB farm for June and July movement, depending on freight. Interest in new crop barley continues around the $5.00 per bushel level, with act of God contracts available for up to 30 bushels per acre. Seeding is now well underway across Western Canada, and attention is shifting toward final acreage totals as the crop gets established. Discussion around dry conditions in parts of Southern Alberta has come up recently. Time will tell if this translates into a market bullishness or if mother nature provides some timely moisture.

The oat market continues to face pressure from large available supplies. Seeding is largely underway across all regions, though some growers in the northern parts of Sask are still battling wet conditions. Current old crop bids for delivery into Manitoba are sitting around $4.20 per bushel, with new crop values slightly higher. Delivery opportunities into Saskatchewan are also available, with bids closer to $3.50 per bushel landed at the plant. Occasional buying interest continues to appear for feed and sample-grade oats, making it important to understand quality specifications before marketing to ensure no opportunities are missed. Growers are encouraged to use firm targets on all qualities of oats to try and capture market highs.

Flax markets continue to hold steady this week, largely in line with recent trends. Old crop brown flax is still trading in select areas at $18.00 per bushel FOB farm for June/July movement, which appears to be the upper end of the current range. For those looking to capture slightly higher returns, placing offers above the market may be worth considering. New crop flax contracts are generally sitting at $16.00 per bushel FOB farm with an act of God clause. Given anticipated seeded acres, securing a portion at these levels remains a reasonable approach. In the yellow flax market, demand has softened somewhat for both old and new crop. Old crop values are ranging between $21.00 and $22.00 per bushel FOB farm, while new crop indications are sitting between $19.00 and $20.00 per bushel FOB farm with an act of God clause in light trade.

Canola has experienced a volatile week. July futures have traded as low as $735/mt and as high as just shy of $760/mt. November and January futures continue to carry premiums of roughly $10/mt and $20/mt over July, respectively. The week started on a softer note, with canola being the only major market open, leading to heavier trade and added pressure from crude oil. The market rebounded on Tuesday, with modest gains continuing into midweek. A range of external factors continues to influence canola, including fluctuations in oil and gas markets, developments around Iran-U.S. relations, movement in the soy complex, and ongoing weather-related seeding delays across Western Canada. Basis levels are becoming increasingly variable across the province, with roughly a $10/mt spread on spot pricing from east to west Saskatchewan. For deferred movement, spreads widen further, with differences of approximately $28/mt for September and $39/mt for October delivery, with stronger basis levels generally seen in the eastern regions.

Canadian wheat markets are closely watching Prairie seeding progress alongside deteriorating U.S. hard red winter wheat conditions as the Northern Hemisphere crop develops. The USDA is projecting the smallest U.S. winter wheat crop since 1965, with drought significantly reducing yields across Texas, Oklahoma, and Kansas as harvest begins. In Canada, spring wheat and durum seeding progress remains uneven, with Alberta moving ahead more quickly while Saskatchewan, particularly the northeast, is lagging due to excessive moisture. The International Grains Council is estimating Canadian durum production at 6.0 million tonnes this season, down from 7.1 million tonnes last year, while export expectations have softened somewhat due to improved production in North Africa. Despite broader commodity market pressure tied to easing geopolitical tensions, Canadian wheat remains competitive on the global stage. Market focus will remain on Prairie weather, delayed seeding, and U.S. harvest results through early June. Wheat bids are currently hovering in the mid-$8.00 per bushel range, varying slightly by location, with some new crop pricing reaching around $8.00 per bushel delivered. Old crop durum is also sitting near $8.00 per bushel delivered for #2 in western Saskatchewan, while new crop #1 US-spec durum in southeast Saskatchewan is around $8.50 per bushel FOB for late-year movement.

Mustard prices have been trading sideways for several months, and with ample carryover available to meet export demand, nearby values are expected to remain relatively unchanged. Yellow mustard is hovering around $0.40/lb for old crop, while new crop is sitting in the $0.40–$0.42/lb FOB range depending on delivery timing. Brown mustard is trading at $0.36–$0.38/lb for old crop, with new crop values between $0.36 and $0.38/lb picked up. Oriental mustard is showing slightly stronger nearby pricing at $0.38–$0.40/lb, while new crop sits at $0.36–$0.38/lb FOB, suggesting comfortable supply levels. Kazakhstan has emerged as a notable supplier in the 2025/26 marketing year, adding to global availability. Despite this, prices are likely to remain supported by limited farmer selling and ongoing weather considerations as seeding wraps up.

Pea seeding progress continues to advance, with Alberta nearing 70% complete as of last week, while Saskatchewan is trailing at 53% according to Saskatchewan Agriculture. As fieldwork continues, export demand into China remains encouraging, with Canada ranking just behind Russia in April shipments. Locally, #2 green peas are priced around $9.50 per bushel delivered for both old and new crop, with production contracts including an act of God clause. Maple peas see old crop bids around $12.00 per bushel delivered for Mosaic varieties, while Blazer and Acer types are trading more on a hand-to-mouth basis, making it worthwhile to check in for current opportunities if holding those varieties. Yellow peas are trading between $8.00 and $8.50 per bushel FOB farm, with the higher end of the range typically requiring proximity to the buyer’s plant. Off-spec and feed peas continue to find demand, offering an opportunity to move remaining inventory ahead of new crop.

Lentil markets remain focused on the development of El Niño and the progression of India’s monsoon season. Delayed rains and extreme heat in parts of India are raising concerns about crop conditions, which could influence Canadian pricing as we move toward harvest. Locally, #2 red lentils are trading between $0.25 and $0.26/lb FOB farm depending on location, with new crop values around $0.24/lb delivered plant including an act of God clause. Old crop large green lentils are in the $0.23–$0.24/lb FOB farm range for #2 quality, while some buyers are showing interest in Extra #3 product around $0.20–$0.21/lb FOB farm. Small green lentils continue to move, with #1 grades quoted at $0.18–$0.19/lb and #2s seeing interest around $0.14–$0.15/lb FOB farm. For lower grades or feed quality lentils, it remains worthwhile to explore pricing options based on individual quality and location.

Canaryseed continues to trade within a narrow range as seeding progresses. Buyers appear comfortable at current levels, with export demand steady but not accelerating. Prices are holding in the $0.19/lb FOB farm range, with movement now stretching into the summer. Occasional shorter-term opportunities do surface, with bids appearing sporadically for quicker movement, so having firm offers in place can help capture those opportunities. With larger carryout stocks continuing to cap the market, putting targets forward remains a practical strategy. While there is ongoing discussion around reduced acreage, buyers do not appear overly concerned at this stage. It is also worth considering having canaryseed tested, as there have been some unexpected issues with ergot showing up in certain areas.

Soybean futures have trended lower over the past 10 days, with July futures falling to around $11.86 USD at the time of writing, down roughly 50 cents from three weeks ago. Increased seeded acreage in the U.S. and other regions has been a key factor weighing on prices. Locally, soybean bids are around $14.15 per bushel picked up on farm in southeast Saskatchewan, with new crop #2 bids closer to $13.50 per bushel for fall and early winter delivery. It is important to note that new crop soybean contracts typically do not include act of God coverage, leaving some production and quality risk with the grower. Faba bean pricing remains relatively unchanged, with export bids around $8.00 per bushel and feed values closer to $7.50 per bushel. The edible bean market has been quiet in recent weeks, though some buyers remain interested, so it may be worthwhile to reach out and explore pricing opportunities based on available supply.

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.