Flax yields in Saskatchewan were reported at 26.6 bushels per acre, the highest since 2016, according to Sask Ag. Despite the larger crop, overall supply is not expected to be terribly burdensome; however, global market dynamics have shifted. The U.S. remains the primary destination for Canadian flax, with smaller volumes heading to Europe. Russia and Kazakhstan continue to exert the greatest influence on global flax prices, as their supplies fill demand in both the EU and China, even amid some quality issues. Russian flax has also been moving at a discount ahead of potential European import tariffs, pressuring prices lower overall. Domestic flax bids vary widely depending on delivery timing, ranging from $16.50 to $18.00 per bushel for movement extending to August 2026. As long as the U.S. market holds steady, Canadian values should remain supported, though significant price rallies appear unlikely given the ample global supply.

The pea market feels heavy this year, with supplies up considerably and comparable to the 2020–2021 crop years. However, unlike that period, export prospects are far less favorable today. China continues to impose a 100% tariff on yellow peas, while India has recently added a 30% tariff on Canadian yellow peas, further limiting market opportunities. Despite this new tariff, current pricing remains relatively steady, with yellow peas trading around $7.00 per bushel picked up, greens at $10.00 per bushel, and maples ranging from $9.50 to $10.50 per bushel depending on variety. It’s difficult to foresee much upside in pea prices through the rest of the marketing year unless trade conditions shift—particularly with China or India. Any brief price strength that does appear is likely to remain muted given the lack of significant export demand.

Old crop milling oat bids remain steady, ranging from $3.30 to $3.50 per bushel delivered to a few locations across the prairies. This marks another week of virtually unchanged oat pricing as November kicks off. However, some purchasers have temporarily stepped back from the market after securing enough product to satisfy their needs over the next couple of months. Those able to hold out for a later delivery window may find stronger pricing opportunities with shipping pushed into the summer of 2026. Feed oats are currently indicated at $2.25 to $2.50 per bushel for heavy product, though overall demand in that segment remains quiet. That said, occasional short-term buying opportunities do surface, so producers looking for improved values on either milling or feed oats may benefit from posting firm offers.

Lentil markets remained stable over the past week, with virtually no change in pricing or demand. Red lentils continue to be bid around 23 cents per pound delivered plant, while #2 large green lentils are seeing indications between 27 and 28 cents FOB. Small green lentils saw relatively low trade volume with bids in the 21-22 cent range for #1 quality, while lower grade bids remain elusive. Buyer interest is in lower grade large greens seems to have perked up a bit as some X3 and #3 product hits the books in the low 20 cent per pound range. At this point, there is little indication of an upcoming price rally. In fact, most buyers suggest the opposite—citing ample supply, limited demand, and ongoing quality concerns as key challenges. Additional market pressure is also coming from competing origins offering cheaper alternatives, which continues to weigh on market sentiment.

Chickpea production for 2025 is estimated at roughly 405,000 metric tonnes, up 41% from last year and marking the largest crop since the 2001/02 season. Quality remains a concern, with much of the crop grading as #3 or sample due to issues with green and damage. While there is demand for these lower grades, buyers are factoring in the added cost and effort of cleaning and color sorting. Current bids for #2 Kabuli chickpeas are around $0.31–$0.32/lb FOB farm, while #3 product with a maximum of 4–5% green is fetching closer to $0.25/lb, with further deductions for higher green, split, and small counts, that often push product into the feed market. These pricing dynamics may encourage growers to take on the cost of cleaning and sorting themselves to extract higher-quality seed and improve marketing potential. The market has largely stabilized, allowing sellers some breathing room to plan their next moves.

Canaryseed yields were strong this year, with 2025 production estimated at 200,000 metric tonnes. To add to supply is a potential 85,000-tonne carryover from last year. This would make Canadian stocks the highest in nearly two decades. Prices are reflecting the ample supply, with bids hovering around $0.19/lb FOB farm and slightly higher for delivered options to a few locations across the prairies. Most interest is for nearby shipping, and buyers are not offering premiums for deferred sales into 2026. Movement remains slow and largely hand-to-mouth, as buyers know supply is readily available. For those looking to replace seed, this year could present a good opportunity—contact for details.

While it may not be the major announcement many were hoping for, Canadian canola markets still received encouraging news this week. Pakistan has reopened its market to Canadian canola after a three-year ban on GMO crops, including canola. Although Pakistan is not expected to match China’s import volumes, it has previously purchased up to 1.35 million tonnes in a single year, making this a welcome development for the industry. At the time of writing, canola futures are trading at $626.40/MT for November and $641.30/MT for January. Local bids in northwestern Saskatchewan sit around $13.75/bu delivered for December–January delivery, with a carry to over $14.00/bu for March–July movement. In eastern Saskatchewan, bids for January–February delivery are ranging from $13.85 to $13.99/bu delivered, with similar carry values exceeding $14.00/bu beginning in March. Producers with off-spec canola or those seeking FOB farm pricing are encouraged to reach out to their merchant for updated bids and opportunities.

Barley trade has been quiet in recent weeks, with prices holding mostly steady and limited seller interest despite concerns about abundant feed grain availability. Feed barley continues to trade in the low to high $4.00/bu range, depending on freight and delivery window. Some improvement in bids can be found for deferred movement, offering a bit of optimism that values may firm slightly over time, though that remains far from certain. Tariff complications continue to limit the flow of U.S. corn into Canada, which could offer some support to feed barley demand. However, a smaller Canadian cattle herd is expected to cap any major price strength. On the malt side, the market remains quiet—some maltsters are still open to reviewing samples or entertaining offers, but obtaining firm bid indications has been difficult. Producers with malt-quality grain or interest in exploring opportunities are encouraged to connect with their merchant to discuss options.

Optimism surrounding a potential trade truce with China has provided some lift to the soybean market, though traders remain cautious as concrete details have yet to emerge. In the meantime, China has increased purchases of Brazilian soybeans, taking advantage of lower prices in South America following expectations of a U.S.-China agreement. Scattered rains in Brazil are also helping early crop development. Local soybean prices are fluctuating between $12.60 and $12.75 per bushel picked up on farm. In the dry bean sector, North American supplies of black and pinto beans are expected to be solid. However, demand from Mexico is anticipated to ease back to more typical levels due to competition from other global exporters, putting some downward pressure on prices. Current bids for black and pinto beans sit around 30¢/lb, while minor classes are seeing stronger demand and bids near 60¢/lb amid tighter supplies. Export interest in faba beans remains limited. Farm gate bids for export-quality product are around $8.00 per bushel, while feed-quality faba beans are priced closer to $7.00 per bushel FOB farm.

Wheat futures have inched higher on renewed optimism over potential Chinese demand. Reports suggest a Chinese importer may have inquired about U.S. wheat for December through February delivery following the recent trade truce, though no confirmed sales have been announced. Globally, abundant production continues to temper price gains. Russia’s SovEcon has raised its wheat output forecast, while Argentina is expected to reach 23 million tons, matching its record 2021–22 harvest. The USDA’s next supply and demand report, now delayed until November 14, should provide further clarity on market conditions. In Saskatchewan, milling wheat prices are holding near $7.00 per bushel, with limited potential for modest increases if rail movement improves. Feed wheat remains steady, trading in the $5.50 to $6.00 per bushel range, depending on location and delivery window.

Mustard markets are mostly sideways this week, though there has been some renewed interest in low-grade yellow varieties. As more samples are reviewed, quality concerns are becoming apparent across all types, and while #1 product is available, many growers are left dealing with #3 and #4 spec. Spot #1 yellow is bid around 41 cents per pound FOB farm for December–January shipping and 42–43 cents for early new-year movement. Of note and worth considering are small opportunities emerging for #3 and #4 grade yellow, generally indicated in the high 20 to low 30 cent per pound range. Brown and oriental are yet to see much opportunity for low grade options, but #1 spec continues to trade around 35 and 43 cents per pound, respectively. Targets slightly higher with longer delivery windows, may prove beneficial for these types. Given early signs of demand, it may be beneficial to secure this year’s planting seed sooner rather than later. New crop pricing options for the 26/27 crop year are still absent as we enter November, but guidance will be provided as these opportunities become available.

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.