Oat markets continue to follow the same pattern we’ve seen over the past few weeks. Overall demand isn’t particularly strong, but buyers are still willing to step in when the price and delivery window line up with their needs. Current price indications remain in the range of $3.25 to $3.50 per bushel delivered for #2CW oats, though the delivery periods being offered are now pushed well into the 2026 calendar year. There are still some 2026 new-crop production contracts circulating at $3.75 to $4.00 per bushel, but it’s expected that once those programs fill, we will likely fade back to no bid in the near term. Good-quality feed oats continue to trade in the $2.25 to $2.50 per bushel FOB farm range. Firm offers remain an effective marketing tool, so if you have a specific target price in mind, it may be worth offering it up.

The pea market remains unchanged week-over-week. Overseas tariffs are still in effect from key export markets but fortunately haven’t pushed prices drastically lower. Yellow peas are trading at $7.50 per bushel delivered, while #2 green peas with max 3% bleach are valued at $10.00 to $10.50 per bushel picked up. Maple peas are priced between $10.00 and $11.00 per bushel contingent on variety and shipping window. The market continues to feel the weight of ample supply and limited overseas demand, with current tariffs restricting movement into key markets. Unless there is a shift on the tariff front, it’s unlikely we will see any significant price changes throughout the remainder of the marketing year.

The canola market softened this week as profit-taking and weakness across global oilseed markets pulled prices lower. Export demand remains sluggish, with China—once Canada’s top buyer—still mostly absent due to ongoing tariffs. Large global supplies, including steady Canadian production and record crops out of Australia and Europe, continue to apply downward pressure on values. Australia has now shipped its first canola cargo to China in five years under a new phytosanitary agreement, and while this may create opportunities for Canada in alternative markets, competition from Ukraine and a well-supplied EU remains strong. Moving seed into Europe is expensive and further complicated by winter closures on the St. Lawrence Seaway, while limited movement through West Coast ports has contributed to a decline in Canada’s export pace. With softer prices and continued demand uncertainty, many growers are choosing to hold back sales in hopes of a recovery or improved access to China. Current pricing at the time of writing shows January futures at $650.40 per metric tonne, with March futures at $662.90. There is some buyer interest in off-grade or heated canola if it becomes available, so reach out to your Rayglen merchant if something turns up.

Canary prices continue to hover around 19 to 19.5 cents per pound picked up. As with most commodities, the higher end of that range is tied to freight costs and longer delivery windows, which push into the new year. With 2025/26 supplies projected to be the highest in two decades, expectations for a meaningful price rally remain low. Elevator shipments are below average to start the new crop year, which does little to ease a supply-heavy market, but has likely also kept values from falling further. The U.S. millet market is also flat, so it is unlikely to create any additional demand pull. Some analysts hope that lower prices may eventually stimulate new market opportunities that have been stagnant for years. Growers holding out for stronger values are reminded to keep the larger supply picture in mind this marketing year.

Flax supplies are estimated to be roughly 50 percent higher than last year. This, coupled with abundant supplies in the Black Sea region, means the EU did not import any Canadian flax in September. As a result, Canadian product continues to rely heavily on the U.S. market, with both prices and movement reflecting that reality. Brown flax is trading between $16.00 and $17.50 per bushel, with the higher end tied to quality, location and movement pushed into the summer months. There is still some demand for yellow flax, with bids indicated around $21.00 to $22.00 per bushel FOB. Prices are expected to stay firm in the coming months unless new market opportunities emerge.

Chickpea trades have slowed as producers take time to assess their green count levels and off spec product, while looking for facilities that can help clean them up and/or colour sort. Anyone with access to a color sorter will be in high demand this year. Export movement remains strong, with lower prices continuing to attract interest from overseas buyers. India has been exporting at record levels and working through a significant portion of its supply, which under normal circumstances would support higher prices, but that hasn’t materialized. As India moves through planting of the Rabi crop, chickpea acres are expected to decline in favor of canola and wheat—likely a response to the lack of price improvement in chickpeas. There are many moving pieces in the chickpea market, but values continue to hold steady. A shift in pet food demand or any disruption in global supply could change that tone, but for now the market remains in a “steady as she goes” pattern.

The U.S. government ended its shutdown last week, allowing USDA reporting to resume, including the latest agricultural supply and demand updates. Friday’s report pegged global wheat stocks at 271.4 MMT, up from 264.1 MMT in the September estimate. Production was raised across several major wheat-producing regions, including Canada, Russia, Australia, the EU, and the U.S. Both Argentina and Australia are well into their wheat harvests, and each is reporting increased production compared to early expectations. Local wheat values reflect the broader tone of the market. CWRS 13.5 protein is trading at $7.15 per bushel delivered into West Central Saskatchewan for November and December movement, while CPSR sits at $6.45 per bushel delivered into Central Saskatchewan for February. Feed wheat has seen renewed buyer interest, with bids ranging from $6.00 to $6.25 per bushel FOB farm, gaining strength for farms closer to feedlot alley. Durum remains mostly flat, with some indications still at $7.50 per bushel delivered Central Saskatchewan for spring movement. New crop durum bids have started to surface in Southeast Saskatchewan, with values around $8.00 per bushel FOB farm for fourth-quarter 2026 shipping. Triticale trading has been limited, but current bids are sitting in the $200 to $210 per metric tonne range, either delivered or picked up depending on buyer needs and location.

Barley bids have shown a bit of life over the past few days. While prices haven’t made any major jumps, a few buyers have stepped up their interest, giving the market a little more attention. On the west side of Saskatchewan, feed barley has been bid up to $5.00 per bushel in the yard for movement into early 2026. Bids in the east continue to trail slightly due to freight, but numbers have improved, with areas like Gainsborough seeing bids around $4.40 per bushel. We’re not expecting much in the way of fireworks for barley—or many other commodities—this year, but it’s still important to keep an eye out for the smaller rallies as they show up, as bills will still need to be paid. Firm offers continue to work well in this market since most business remains hand-to-mouth, and providing buyers with clear targets can help get deals across the finish line. There are no malt updates to report right now, but we are always taking targets.

Lentil prices continue to fluctuate in correlation to selling pace, while overall market activity remains quiet for this time of year as buyers remain generally uninterested in large volumes. Australian harvest pressure is also beginning to influence the market as their crop is taken off and begins to hit the market. Early indications suggest that combined Canadian and Australian production could surpass 3.5 million tonnes this year, a number that could be considered burdensome based on current demand. In current conditions, significant price increases are unlikely, as supply continues to outweigh demand. Large Green Lentils are trading at 26–28 cents for a #2 spec, 22 cents for X3, and 18–20 cents for a #3. Red Lentils are trading at 22–23.5 cents for a #2 quality as a delivered to plant value. As always, FOB bids are available and will be tailored to farm locations. Small Green Lentils are priced at 22–23 cents for a #1, with sporadic opportunities to trade #2’s at 19 cents, both indicated as FOB farm values.

China’s recent soybean purchases suggest it is beginning to follow through on commitments made during the late-October trade truce with the U.S. Still, many market analysts remain in a “show me, don’t tell me” mindset until consistent buying is confirmed. Brazil is still projected to bring in a large soybean crop, and while dryness in the northern growing regions is drawing attention, rains are expected over the next ten days. Local bids remain in the $12.50 to $12.75 per bushel FOB farm range. North America is positioned for solid supplies of black and pinto beans. Demand from Mexico is expected to return to more typical levels as global competition among bean exporters increases. This broader supply picture is likely to apply some downward pressure on black and pinto bean prices. In contrast, minor bean varieties should see stronger demand and firmer pricing due to tighter supplies. Current bids for black and pinto beans are sitting around 30 cents per pound, while minor specialty classes are seeing bids nearing 60 cents per pound or higher. Export interest in faba beans remains limited, with farm-gate bids around $8.00 per bushel and feed-quality faba beans priced near $7.00 per bushel FOB farm.

Mustard markets remain flat, even as grading results begin to show that this year’s crop has had its share of quality challenges. As always, we encourage you to send in samples so we can have them graded—better to catch any issues now than be surprised at delivery. Yellow mustard is largely bid around 41 cents per pound FOB farm for December–January movement, though values at 44-46 cents are seen in certain cases for first quarter 2026 shipping. Brown mustard remains near 35 cents per pound, while oriental holds steady around 43 cents. New crop pricing with an act of God is expected to surface soon, and oriental appears to be a strong option at the moment. Planting seed remains available, and we have access to all types, with delivery directly to your yard included. Keep in mind growers are able to secure seed without a production contract, should you prefer to grow mustard uncontracted or want to wait until later in the year to sign up. A special offer is available for seed booked before December 31^st; contact your merchant for details!

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.