Chickpea prices remain generally unchanged this week, with a few trades for #2 quality large Kabulis hitting the books around 27 cents picked up on farm for average-sized product. Some sellers are targeting slightly higher values, and while buyers are showing interest, activity has been slow as farmers remain focused on other priorities. On-farm chickpea stocks are believed to be higher than normal, but chickpeas were not included in the recent StatsCan stocks report, leaving some uncertainty around exact volumes in storage. It’s also worth noting that a sizable portion of what remains in the bin may not be top quality, as the 2025 harvest presented challenges and resulted in higher green counts than desired. New crop prices are holding in the mid-twenties, though these bids are not attracting much movement. Slightly higher targets may help generate interest in the near term.

Soybeans dipped alongside crude oil and soy oil following news of a potential resolution to the U.S.-Iran conflict. Prices continue to find support from expectations of significantly increased biofuels demand and the possibility that upcoming talks between the U.S. and China could lead to additional soybean purchases. However, any upside is likely to be capped by strong export competition, particularly from what is expected to be a record Brazilian crop, along with rapid planting progress in the U.S. Local bids are currently sitting between $13.75 and $14.00 per bushel FOB farm. The dry edible bean market remains relatively quiet but supported by low carryover stocks in minor classes and steady export demand from Mexico and the United States. New crop pricing for larger volume classes remains cautious as growers weigh returns against more competitive cereal and oilseed options. Demand for faba beans continues to grow in both feed and fractionation sectors, supported by ongoing investment in plant protein capacity across Western Canada. Supplies of old crop export-quality faba beans are tight, lending support to 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.

Wheat markets continue to hold firm as seeding progress across the Prairies lags and drought conditions persist in parts of the U.S. Cold weather and recent snowfall have slowed fieldwork, though producers have not yet reached a point of concern. Prices softened slightly on Tuesday with rainfall expected in portions of the U.S. Southern Plains, but overall values remain elevated. U.S. crop conditions continue to struggle, particularly in Nebraska and Oklahoma, where stress levels remain high. Additional global concerns, including the risk of a weaker monsoon in India, are adding further uncertainty and helping to support prices.

Lentil markets are holding steady again this week, with ample stocks—particularly in green lentils—expected to carry into the next crop year. Concerns around the Indian monsoon have slowed old crop selling, though both buyers and sellers remain engaged on new crop business across all classes. #2 large green lentils are trading in the $0.24–$0.25/lb range, with new crop values at similar levels FOB farm with an AOG, contingent on freight costs. Small green lentils are steady, with #1 grades trading up to $0.20/lb delivered and #2s around $0.175/lb. New crop small greens are ranging from $0.20 to $0.23/lb FOB farm, with continued interest in smaller programs, such as gluten-free contracts, at a premium. Red lentils are also holding value this week, trading in the $0.24–$0.25/lb range for both old and new crop.

Barley prices remain strong this week, and marketing remaining old crop inventory ahead of new crop availability is worth considering. Most movement is scheduled through July at this stage, with prices ranging from $5.25 to $6.00 per bushel picked up, depending on location, with potential for stronger bids seen into Alberta. New crop pricing is also freight-sensitive, though indications range from $4.75 to $5.25 per bushel FOB farm, with some purchasers now offering act of God contracts. With spring weather delays potentially shifting seeding decisions, locking in a portion of new crop at these early values may be a reasonable strategy heading into fall. If additional seed is needed, reach out to the office to discuss available options.

If you’re considering pricing old or new crop canola, it may be worthwhile calling the office for FOB farm bids specific to your area. A geopolitical premium entered the market in February and has been reflected in futures, but when focusing strictly on supply and demand dynamics, the outlook appears heavy. Canada is carrying an estimated 2.75 million tonnes, and new crop acres could hit record numbers, potentially reaching north of 23 million, which would further add to supply. While increased use of vegetable oils in biodiesel supports demand broadly, trade frameworks such as CUSMA could limit opportunities for Canadian canola. With the U.S. midterm landscape in mind, easing geopolitical tensions—particularly surrounding Iran—could remove some of the premium currently built into the market and lead to a correction. Ultimately, it comes down to balancing price risk with production risk. With a sizeable carryout and strong acreage expectations, supply continues to build. As of today, July futures have slipped to $744.20/mt, with November futures at $747.10/mt at the time of writing.

Canaryseed markets shift into May with little change from recent weeks. Old crop indications remain around $0.195/lb FOB farm for May through June movement, picking up some decent tonnage of late, as growers prepare to empty bins for the next years harvest. As noted previously, these values are worth considering given the burdensome supply situation. New crop contracts continue to be offered at $0.20/lb FOB farm, including a 10–15 bushel act of God clause and September through December delivery. A large, anticipated carryover and strong acreage estimates, securing a portion of expected production at these levels remains a practical consideration.

The mustard market is largely unchanged week-over-week. Some old crop sales are occurring for May through June shipping, though growers may find stronger bids available for July and beyond delivery. Old crop yellow mustard is trading around 40 cents/lb picked up, brown mustard at 35 cents/lb, and oriental mustard near 36 cents/lb, all based on #1 quality. For lower grade product, it’s important to connect with your merchant to determine FOB pricing in your area. New crop values are currently sitting at 40 to 42 cents/lb for yellow mustard, 35 to 37 cents/lb for brown, and 34 to 36 cents/lb for oriental, all FOB farm with act of God contracts available. The spread in new crop values remain contingent on desired shipping window.

Old crop brown flax markets remain firm as seeding gets underway. Current trades are being done between $17.50 and $18.00 FOB farm for June and July movement. New crop pricing remains relatively quiet, with few buyers actively posting bids at the moment. The latest trades have been completed in the $16.00 to $16.50 FOB farm range with an act of God clause included. At this point, the lack of new crop pricing appears to be influenced more by freight costs than any other factor, as rising fuel prices continue to push transportation expenses higher. Statistics Canada reported March 31, 2026 ending stocks at 380,000 tonnes, which is 80,000 tonnes above the five-year average and 130,000 tonnes higher than last year. If exports continue to follow the historical five-year pace, Canada is expected to move approximately another 100,000 tonnes before the end of July. Yellow flax activity has quieted recently as supplies become increasingly difficult to source. Prices remain in the $23.00–$24.00 range for summer movement. Buyers have also stepped back from the new crop yellow flax market, as many appear to have already covered their nearby needs. The latest trade was completed at $20.00/bu FOB farm with an act of God clause for September through December movement. Overall, while old crop markets remain supported, focus will quickly shift toward new crop development and freight dynamics as the primary drivers heading into harvest.

Oat buyers continue to show interest, but the challenge remains the gap between what buyers are willing to pay and the value sellers are looking for. Buyers are still offering around $4.25 delivered into Manitoba for summer movement, while Saskatchewan pricing is closer to $3.50–$3.70 delivered for #2 quality oats. New crop pricing in the Saskatoon region is currently around $3.00 FOB farm. Statistics Canada released ending stock estimates today showing oat stocks at 1.91 million tonnes, the second-highest carryout in the past five years. This is likely to pressure markets as the crop year progresses. Another bearish factor for oats is the late spring conditions in the northeastern growing regions, which could ultimately lead to increased seeded acreage.

The pea market remains in the same doldrum this week, with very little buying activity taking place. Spot green peas can still move around the $10 delivered range, although firm bids are difficult to find and some buyers are bidding lower. Yellow peas are likely trading around the $8.00/bu FOB range, with a few trades reported at those levels. Maple peas continue to range between $11.00 and $12.00 per bushel picked up, depending on variety, although some varieties, such as Blazers, have become more difficult to move in recent weeks. New crop values remain steady, but contracting activity continues to be slow. Yellow peas are currently sitting in the $7.00 to $8.00 per bushel range, green peas around $9.00 per bushel, and maple peas between $10.00 and $11.50 per bushel picked up with an AOG.

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.