Pea markets remained steady this week, with a few high valued trades triggered by firm offers capturing buyer interest. Yellow peas traded at $11/bu picked up, green peas found buyers at $17/bu picked up, and maple peas continued their strong run, ranging from $19 to $23/bu picked up, depending on variety. These types of trades highlight the benefit of setting clear and realistic target prices to capitalize on market spikes when they occur. No new crop bids have surfaced yet, but there’s hope for updates in the coming weeks. If you’re planning for next season, it’s a good time to consider updating your seed or exploring new varieties. Certified seed remains available, but maple pea seed is in particularly short supply this year. Reach out to secure your spot on the seed list.

The barley market remains steady this week with prices for old crop feed barley indicated between $4.90 and $5.50 per bushel FOB, depending on location and delivery timeframe. Values are stronger the closer you are to Lethbridge, which is consistent with typical trends. Most movement is pushed into the new year, though some December delivery opportunities are still available in certain areas. Lighter-weight barley is becoming more challenging to market as buyers have largely secured their desired volumes. Corn continues to enter feedlot alley, but its impact on barley prices has yet to materialize. In the malt sector, while no firm pricing is being posted, maltsters have started seeking offers for low-protein, high quality barley. If you have grading information on hand, it’s a good time to explore potential pricing.

The mustard market remains quiet as the year-end approaches, with no major shifts expected in the near term. Prices continue to hold steady, and demand lack luster as buyers focus on production contracts. Despite a lack of price movement, we’ve seen some renewed demand in brown mustard, which is a positive sign, now trading at 31-32/lb for the first quarter of 2025. Current bids for yellow mustard remain unchanged at 41 to 43 cents per pound, while oriental mustard is quoted at 30 to 32 cents, in very light trade. Longer shipping windows may allow for slightly higher prices and firm offers are encouraged. Marketing options are available for some types of off-spec mustard, including grades #3 and #4 yellow, so it’s worth reaching out to discuss those opportunities. Seed sales have been active recently, and a wide variety of planting seed is available for delivery to your farm. If you are planning next year’s crop, now is a good time to secure your seed.

Canadian chickpea production for 2024/25 is facing some uncertainty, with StatsCan’s estimates potentially on the high side. Even so, supplies are anticipated to be the largest in years, creating opportunities for export programs. The challenge lies in finding markets for these bushels, as the U.S., a typical buyer, harvested another large crop, leaving Canadian exports to focus on developing new destinations such as South Asia. Current export volumes have been slow, and significant progress will be needed to meet the full year forecast of 200,000 tonnes. Domestically, Kabuli chickpea bids have softened since mid-September. While there has been some upward movement in global Kabuli prices, Canadian values remain under pressure due to ample supplies, keeping sellers cautious about market timing.

Local flax prices remain stable in the $17.00-17.50 FOB farm range, with buyers primarily focused on securing new year movement. Opportunities for December shipping occasionally emerge, but these tend to be freight-dependent and fill quickly, making firm offers a valuable tool for growers. Globally, the EU remains a critical market for Canadian flax, though competition from Kazakhstan and Ukraine has been strong. In the second month of the shipping year, these two nations dominated EU flax imports, while Russia held third despite its 10% tariff. Canada ranked fourth, likely due to EU buyers front-loading purchases before the tariff’s implementation. Moving forward, increased availability from Kazakhstan’s 2024 crop is expected to heighten competition, but there is optimism that Canadian shipments into the EU via Thunder Bay will see a notable uptick compared to last year.

Canola markets dipped lower this morning to $620.00/MT, down from the opening price of $631.40/MT. Political uncertainties, particularly regarding U.S.-China relations as Trump’s administration takes shape, continue to weigh on market sentiment. Recent discussions by Canada’s Agriculture Minister with Chinese officials aimed at addressing China’s ongoing canola investigation have yet to yield significant updates. Current bids for canola range between $13.00-13.75/bu delivered plant, varying by location and delivery month, with basis levels from -30 to -50. For FOB farm options, growers are encouraged to contact their merchants with specific areas.

Though oat acres were reduced this year, overall production was strong. The anticipated production increase will help ease the tight carry slightly, but still leaves supplies narrow heading into next year. Current estimates suggest supply levels may reach their lowest since the 2002-03 season. Old crop prices remain steady, with bids in the $4.50-$4.75/bu delivered range, stronger in central and southeast Saskatchewan. Off-grade oats continue to find interest at discounted prices, typically $1-2/bu lower depending on weight and other specifications that knock out of #2 milling standards. New crop pricing remains unclear, as is common for most commodities currently. Globally, the USDA reports world oat supply is 7% below the five-year average, putting supplies near historical lows.

Lentils remain a strong performer in the grain markets. Red lentil prices have edged up to 34 cents FOB farm in a few locations, a positive indicator as Australia’s harvest progresses without significant price pressure. Reports suggest Australia may harvest a smaller crop this year, while India’s import slowdown might signal expectations for a better domestic crop. Green lentil markets have shown some volatility, with prices slipping to 58 cents before rebounding to 60 cents/lb for limited volumes. Medium green lentils trade around 39-40 cents/lb USD, while small greens range between 53-56 cents/lb. Buyers remain hesitant to release new crop pricing broadly, though a few trades have been recorded: small greens at 45 cents, medium greens at 30 cents USD, and large greens at 47 cents, all FOB farm with Act of God clauses. Growers considering seed upgrades for the next season are encouraged to reach out for access to the latest varieties. Green lentil seed is anticipated to be in short supply again this year, consider locking in now!

Canaryseed pricing remains consistent, with bids around 30-31 cents per pound FOB farm for growers seeking quicker movement. Holding canaryseed until February or March may see prices rise to 32 cents per pound. The market remains subdued following crop insurance and StatsCan reports of increased acreage in 2024, though revisions could occur. For now, fresh demand will be needed to drive local price improvements. New crop pricing has been slower to emerge, so staying in touch with merchants is advised for those looking to secure production contracts for next year.

Soybean futures continue their downward trend, influenced by a near-record U.S. harvest and favorable planting and early growth conditions in Argentina and Brazil. Local soybean prices range between $10.80 and $11.25 per bushel FOB farm. In Argentina, dry bean production has been heavily impacted by challenging growing conditions. Although Mexico may still demand dry beans, volumes are expected to be lower than last year. Larger dry bean classes are priced at 45-50 cents/lb delivered, while smaller specialty varieties range from 55-59 cents/lb delivered. Faba beans see limited export interest due to anticipated strong production in Australia and the UK, though potential frost damage in Australia could affect yields. Export bids for faba beans stand at $9.00 per bushel FOB farm, while feed-quality faba beans are trading around $8.00 per bushel FOB farm.

Wheat markets showed little movement this week, with futures posting minimal and unremarkable gains. Feed wheat prices range from $6.50 to $7.25 per bushel FOB farm, depending on location, which compares favorably to milling wheat bids in many areas. Milling bids for #1 CWRS hover between the mid-$7 range and just over $8 per bushel delivered, provided the right deal is available. Producers with borderline-quality wheat are opting for feed markets, while higher-quality wheat remains stored for now. Durum prices continue to range between $8.50 and $9 per bushel for #1 CWAD, with values varying by region and desired delivery timelines. Strongest opportunities for CWAD sales are seen in Southeast Saskatchewan at this time.

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.