Barley markets have remained relatively stable over the past few weeks. Across the prairies, bids are generally in the $4.75 to $5.25 per bushel range FOB farm, varying by region and delivery window. These levels continue to offer appealing opportunities for producers to sell some of their stock. Although prices are currently strong, there’s a sense that a dip may come before any major rallies, making now a strategic time to place offers. There has also been talk of new crop bids, with indications around $5.00 per bushel FOB farm in southeastern regions with buyers asking for specific locations outside of that area. While maltsters haven’t released firm numbers yet, there is interest in low-protein barley (11.5% or less), especially Copeland and Synergy varieties. If you have good quality malt barley with low protein, reaching out to your merchant and/or throwing firm targets out could attract attention from buyers.

There’s little new to report this week in the pea market. India’s domestic pricing for peas and desi chickpeas has declined, signaling that tariffs may be reimposed after December 31st. Green peas are exhibiting typical seasonal behavior, with prices holding steady and the possibility of a seasonal lift in the near future. Current pricing for yellow peas is approximately $10 to $10.50 per bushel picked up, while green peas are still trading in the $15.50 to $16 per bushel range. Maple peas remain robust, fetching $19 to $22 per bushel picked up, depending on the variety and location.

Mustard prices have remained steady, with buyers sourcing only what they need, while fulfilling production contracts. Current bids show yellow mustard at 41-43 cents per pound, brown at 32-33 cents, and oriental at 30-32 cents, mainly based on shipping timelines. No significant changes in this trend are expected in the short term. There are marketing options for some types off-spec mustard – particularly seeing potential interest in #3/#4 yellow, so it’s beneficial to reach out for details. Seed sales have been active recently, so contact us to explore the varieties and delivery options available for your farm.

Canaryseed prices continue to hold firm between $0.31 and $0.32 per pound, either FOB or delivered, depending on the location and distance to processing facilities. Both StatsCan and Sask Ag have reported the highest canaryseed yields seen in years, with StatsCan indicating a production increase of 50,000 MT compared to last year. The early months of the 2024/25 shipping season have shown a slower pace, with September shipments at 6,800 MT, trailing the five-year average by 2,900 MT. If analysts adjust their export forecasts downward due to this slow start, the larger production could result in a heavier supply for 2024/25. As the seller side remains relatively quiet, the potential for increased export demand could become the catalyst needed for a price lift and renewed activity in the market.

The chickpea market saw some buying interest last week, albeit in small volumes. Buyers were specifically seeking #2 Kabulis with a minimum of 20% 7mm and no strict requirements for other large sizes, providing a favorable opportunity for growers looking to sell. This demand was quickly met, and as news spread, growers began assessing their inventories and reaching out to discuss potential sales. This indicates that there is a substantial amount of carryover stock that farmers are willing to move if prices and movement terms are favorable. The market has since quieted down, primarily due to logistical delays stemming from the port strikes, though this is expected to be resolved soon. Growers are encouraged to set their target prices to be prepared for the next round of buying. Additionally, those interested in adding chickpeas to their crop rotation can contact us for seed supplies delivered to the farm.

The flax market remains finely balanced between supply and demand, with buyers filling their needs as they arise and then stepping back. This pattern highlights the “hand to mouth” nature of the current market. While there is no denying the tight supply situation, buying interest has been more subdued recently due to geopolitical concerns and logistical challenges. Despite the limited supply, bids have remained stable, hovering between $16.50 and $17.25 per bushel FOB, provided sellers act swiftly to capture these prices. To secure higher bids, setting targets is recommended to show buyers available quantities and preferred timelines for selling. For those planning to plant flax next year or seeking certified seed, now is an ideal time to reach out for available options, we have a good supply of some top varieties.

Lentil sales remain subdued for this time of year, with prices holding steady and limited interest from both buyers and sellers. Ongoing shipping concerns, including contract negotiations at both ports, appear to be the primary reason for this slowdown. Even with a weaker Canadian dollar, overseas buyers are not showing increased interest in purchasing larger volumes. New crop bids are still mostly absent from the market, with only occasional offers being traded. Old crop large green lentils are currently trading between 56-58 cents per pound, depending on movement and location. Small green lentils are priced at 53 cents for December-January movement, while red lentils remain stable at 33-34 cents per pound delivered. Buyers continue to express interest in French green and black lentils. For those considering a shift or upgrade in their lentil production, the office can assist with seed and growing advice.

Soybean futures faced pressure on Tuesday, influenced by concerns over President-elect Donald Trump’s potential appointment for head of the U.S. Environmental Protection Agency and its implications for the biofuel sector. The USDA reported that 96% of the U.S. soybean crop had been harvested as of Sunday, up from 94% the previous week and significantly above the five-year average of 85% for this period. U.S. soybean exports continue to exceed last year’s figures. Locally, soybean prices range between $11.00 and $11.50 per bushel FOB farm. In Argentina, challenging growing conditions have impacted dry bean production, with anticipated demand from Mexico expected to be lower than last year. Larger dry bean varieties are priced at 45¢ to 50¢/lb delivered, while specialty varieties are fetching between 55¢ and 59¢/lb delivered. On the export side, interest in faba beans remains limited, largely due to strong expected production in Australia and the UK, although frost damage concerns in Australia could affect yields. Export bids for faba beans stand at around $9.00 per bushel FOB farm, with feed quality faba beans at approximately $8.00 per bushel FOB farm.

Canola prices are seeing a decline following last week’s strong performance. Market pressure stems from concerns over Indonesia’s potential slowdown in biodiesel initiatives, as well as questions regarding U.S. biodiesel policies and possible tariffs. These uncertainties are weighing on market sentiment, leading to a roughly $20/MT drop in bids from last week’s peak. March futures are currently around $646/MT, with basis levels ranging from the low $20s to high $40s per MT pending area and shipping timeline. Many growers appear hesitant to sell at these prices, preferring to hold out for a market recovery.

The oat market remains relatively stable, with bids staying consistent at $4.50-$4.75/bu delivered plant, although the higher end is specific to central and southeastern Saskatchewan, near the Manitoba border. A significant factor for milling quality oats continues to be weight, as many buyers report a prevalence of lighter-weight oats. While buyers are purchasing lighter oats, discounts can be significant—up to $1-$2/bu. Some buyers are willing to look at product as light as 34 lbs, but these deals are limited in volume. Call for pricing details specific to your area.

Wheat markets have experienced a decline this week, mirroring a broader downturn across commodities. Globally, wheat faces pressure as reports indicate moderate improvements in growing conditions for some regions and increased year-to-date exports from others.  Feed wheat prices are holding around $7/bu FOB farm in many areas, though prices can vary by location. Movement remains a challenge as the year-end approaches, with many bids now extending into winter. Farmers looking to clear out grain bags or sell before Jan 1 may need to act soon, as logistics tighten further during this period. Durum prices continue to hover around $8.50/bu FOB farm in parts of Saskatchewan, with higher bids exceeding $9/bu in the province’s southeast for late winter and spring delivery.

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