The chickpea market remains consistent with the previous week’s trends and while there is sporadic buyer interest, demand hasn’t been particularly strong. Today, values hover around $0.38-0.40/lb FOB farm, with size playing a significant role in determining firm bids. Buyers are primarily seeking 25% 9mm or better sizing, but many reports suggest continued issues in reaching those specs this year. Growers with smaller sized chickpeas may still find markets, though at lower values, and pricing, again, will rely heavily on the specifics. Given the variability, it’s essential to have your chickpeas graded to get a better sense of their value. The market is expected to remain steady for now, likely holding until more is known about global supplies, particularly from Australia. Some sporadic price increases have been seen, with chickpeas briefly hitting $0.42-0.43/lb, but once tonnage is met, prices have tended to drop back down. If you have a target price, putting out an offer could make sense given the limited window of buying opportunity.

Lentil markets continue to show strong demand, and buyers seem with red lentils gaining some interest over the past week. Large green lentils are currently priced around 60¢/lb picked up, with some offers reaching as high as 61-62¢/lb in attractive freight areas, while small green lentils show bids around 55¢/lb FOB farm. Renewed interest in red lentils has offered some growers opportunity to move product before the new year with targets around 32-33¢/lb pending freight. Offers on all types of lentils have had success over the past few weeks, so if you have a target price in mind, now may be a good time to let your merchant know. Additionally, conversations have started to emerge around seed and 2025/26 new crop. Certified seed is available for all lentil varieties, so if you’re looking to stock up for next season, it’s a good idea to get on the list as inquiries are piling up. While new crop pricing hasn’t been released yet, some growers are already testing the waters with targets.

Pea prices continue to show positive momentum, with expectations of stability through the fall, which historically has been the strongest period for the market. Yellow peas are currently priced between $10.25 and $10.75/bu picked up, with freight playing a significant role in pricing variations. Green peas remain steady at around $15.00/bu picked up, with some higher offers triggering last week, again influenced by freight costs. The lower supply of green peas in recent years has kept prices well-supported. However, with increased production in both Canada and the U.S. this year, we may see some fluctuations as market inventories rebuild. Russia’s growing role in the Indian pea market also adds some competitive pressure. Now could be a good time to lock in some sales, given these dynamics.

Soybeans are facing downward pressure due to the fast-paced U.S. harvest and forecasts of rain in Brazil’s dry regions. The USDA may slightly reduce its 2024 soybean crop forecast to 4.579 billion bushels, with a minor dip in expected yield to 53.1 bushels per acre. Local soybean prices are between $10.75 and $11.25 FOB farm. In Argentina, challenging growing conditions have severely impacted dry bean production. Although Mexico may still be a buyer, demand is expected to be softer than last year. Dry beans are priced at 40¢ to 41¢/lb delivered for larger classes, while smaller specialty beans are fetching between 50¢ and 59¢/lb delivered. Export demand for faba beans remains subdued, mainly due to expectations of strong production from Australia and the UK, though concerns about potential frost damage in Australia could influence yields. Feed-quality faba beans are currently priced at about $8.00 per bushel FOB farm.

The mustard market remains stagnant, unchanged for some time, with limited movement as sellers offload product primarily for bin space or cash flow purposes. The projected stock-to-use ratios suggest a continued flat outlook, keeping prices at a standstill. Yellow mustard prices range from 42 to 45 cents/lb picked up on the farm, with higher prices available for those willing to hold product until next spring. Brown and oriental mustard prices remain in the 30 to 32 cents/lb range, with some recent brown mustard sales popping up as sellers liquidate their inventory. Oriental mustard remains virtually untraded in recent weeks. It’s unclear whether this is due to a lack of available supply or if sellers are just holding out for better pricing. Increased production from other countries, including the USA, Russia, and Ukraine, continues to challenge Canada’s market share, which was once dominated by Western Canadian producers. This growing competition is likely a key reason for the market’s current lack of dynamism.

Feed barley prices remain strong this week, trading within the $4.50–$5.20 per bushel range. As always, bids strengthen the closer you are to the Alberta border and could surpass previously mentioned values on AB origin product. Northern regions of Saskatchewan are seeing bids around $4.50, which is solid given the freight costs involved. It’s essential to know the weight of your barley to help with marketing, especially as lighter-weight barley has been circulating in the market. The malt barley market remains relatively quiet, though there’s been some recent talk of a potential need to cover sales; yet to be seen. With feed barley prices currently holding steady, there’s hope that malt bids rise, especially since futures have shown some recent improvement. If you’re interested in securing the best possible price, consider submitting barley samples and setting up targets. This could help attract the attention of buyers when opportunities arise.

Wheat markets have been quite subdued this week, which typically indicates that nearby coverage is sufficient, and there’s little buying interest at the moment. However, bids for later shipping months have shown a slight increase. In Saskatoon, bids for February delivery are around $7.84/bu and $7.90/bu for March, both for #2 CWRS at 13.5% protein. There’s a premium of $0.15-$0.20/bu for #1 CWRS at the same protein level. In the durum market, there’s been some movement in trader activity, which could signal a potential shift in buying power. Prices, however, remain stable for now, with #2 CWAD sitting at $8.50/bu delivered to select locations. In Southeast Saskatchewan, values are around $9.00/bu for December 2024 to February 2025 movement. Keep an eye on durum markets as this shift in traders might affect future prices.

As of October 1st, Canadian canola exports are up 1.2 MMT compared to the same point last year. Despite concerns over potential Chinese sanctions, alternative markets, particularly the EU, are being targeted as leading buyers. Factoring in domestic crushing capacity, if this export pace continues, total exports could significantly surpass last year’s 6.9 MMT. Currently, 82% of Saskatchewan’s canola crop has been harvested, with yields averaging 33 bushels per acre as of September 30, according to the Saskatchewan Crop Report. Favorable early October weather suggests the remaining crop will be harvested soon. At the time of writing, canola is priced at $615.4/MT, with local bids ranging from $13.00 to $13.50/bu delivered, depending on location, basis level and delivery timeframe. Further price improvements are expected as we move into Q1 2025. For FOB farm pricing and offers, reach out to your merchant to firm up bids in your area.

With harvest nearly complete, demand for canaryseed has softened significantly on the buy side. Yield reports are mixed, but overall, output seems decent, contributing to a drop in market values. Current bids are sitting in the $0.30 to $0.32/lb FOB farm range for October to December movement, with the higher end of that range being harder to secure as many buyers appear to be pulling back. While canaryseed prices often strengthen after harvest pressure eases, the market trend so far is pointing to a continued downward trajectory. Growers holding canary are urged to call and discuss marketing strategies moving forward.

Flax prices remain stable this week, with little change observed, but movement is being pushed to November to December and further in most cases. Yield reports are just starting to come in, making it too early to provide a clear indication of domestic output. Current prices are in the $17.00/bu range, more readily available in the eastern part of the province compared to the west. The last Saskatchewan Crop Report estimated flax yields to be around 22 bushels per acre, noting that only 68% of the flax harvest was completed. With favorable weather forecasted, we could see the flax harvest nearing completion after the Thanksgiving weekend.

The oat market continues its slow trade trend, with good quality #2CW oats bid in the $4.30/bu delivered range over the past couple weeks. Buyers are primarily focused on bushel weight, with most seeking a minimum of 40 lbs or 230 g/0.5L. According to the Saskatchewan Crop Report, 94% of the oat harvest is now in the bin, and it is expected that harvest will be nearly wrapped up by this weekend. The report also estimated this year’s oat yield to be around 75 bushels per acre, though there was no mention of overall quality yet. Feed oat bids are available, though those markets are largely requiring strong bushel weights as well. If you have off spec product in the bin, reach out to your merchant to discuss marketing options.

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.