The pea market is holding steady week over week. Supplies are up, and export demand for the 2025/26 marketing year remains uncertain. There have been reports of a positive meeting with China, but we’ll have to wait and see if any agreements materialize. Current prices sit around $6.50/bu FOB for yellow peas. Green peas may still bring $10.00/bu FOB on #2 spec with a maximum of 3% bleach. Maple peas are trading between $8.50 and $9.50/bu FOB depending on variety and shipping window. If you have a specific target price in mind or lower-quality peas, it’s worth discussing target options with your merchant.

Flax prices remain sideways again this week, ranging from $17.25 to $18.00/bu picked up, depending on timing and freight costs. Yield estimates are not yet available as flax harvest has only just begun in some areas, but analysts are suggesting strong yields are likely after ideal growing conditions. StatsCan has reported 134,000 tonnes of ending stocks, indicating supplies are not as tight as previously thought. Unless overseas demand strengthens, flax prices are expected to remain sideways for the time being. Reports of increased flax production in Russia and Kazakhstan suggest the main Chinese and European markets are well supplied, so keep this in mind when planning flax sales after harvest.

The Saskatchewan wheat harvest is progressing well, with an estimated 41% of the crop now in the bin. Yield reports have been largely favourable, with most regions seeing gains except for the northwest, which posted a slight decline of three bushels per acre. The provincial average yield for durum harvested so far is pegged at 38bpa, up five bushels from last year’s average. Globally, a continued lack of bullish news is keeping wheat markets subdued. With harvests around the world either complete or nearing completion, some regions are seeing a slower export pace as importers wait for world prices to settle before committing to purchases. Local wheat prices currently show CWRS in the range of $7.00–7.10/bu delivered Central Saskatchewan, CPSR at $6.50–6.60/bu delivered, soft white at $6.40–6.55/bu, and red winter at $6.60–6.75/bu delivered. The carry in each range remains intact for further-out delivery. Feed wheat is indicated between $6.00–6.25/bu FOB farm, while delivered feedlot alley bids are coming in at $6.80/bu for September and October delivery. For wheat classes or bids not listed, contact your merchant for specific pricing.

Mustard markets remain flat as harvest begins. Despite an estimated 40% drop in seeded acres leading to an expected 30% production decrease of around 58,000 MTS, values have yet to show much of a reaction. The muted price movement could be due to buyers being aware of remaining carryover stocks from previous years and historically low export levels. Additionally, with Black Sea harvest reports expected this fall, markets are waiting to gauge how heavily they may need to rely on North American supply. With most of the crop still in the field, there is ample time for speculation. Bids are unchanged this week, and lower-quality mustard remains challenging to move.

Soybean futures continue to struggle to attract buyers, as the anticipated minor reduction in the USDA’s yield forecast has already been priced in. At the same time, a sharp decline in Chinese demand for new-crop U.S. supplies is raising concerns. Local soybean prices fluctuate between $11.00 and $11.50 per bushel, picked up on farm. A recent StatCan report sharply reduced year-over-year dry bean production numbers. Conditions across North America are mixed—Ontario and Michigan are reporting tough growing conditions, while Manitoba and irrigated regions farther west are seeing promising yield potential. In Mexico, prices for black and pinto beans are rebounding from earlier lows, though they could face pressure as harvest season approaches. Current dry bean values are sitting at 35–40 cents per pound delivered, with some specialty varieties achieving higher prices. Export interest for faba beans remains limited, with farm gate bids around $8.00 per bushel and feed-quality faba beans priced at approximately $7.00 per bushel FOB farm.

Chickpea harvest is slowly wrapping up, but little information has emerged from growers about quality or quantity. StatCan and Sask Ag differ on the crop size, but regardless of the final number, increased acres and better yields this year mean a larger export program will be needed to reinvigorate the market. In Montana, production is estimated at 337,000 MTS—the largest chickpea crop there in five years—with most being large caliber. Australia has reportedly already exported the bulk of last year’s record crop, and its current harvest is underway. In Canada, more trades are being booked at $0.30–0.31/lb FOB farm for #2 or better large Kabuli chickpeas, as producers look to free up bin space for lentils, peas, and cereals. The general sentiment is that bins are closing at these levels, but bids have struggled to push higher, making this a good time to consider moving product if needed.

Lentil markets showed a slight improvement in pricing this week. Large greens saw the most movement, reaching as high as 25 cents/lb FOB, with higher delivered values available depending on quality and location. Red lentils traded as high as 23.5 cents/lb delivered. French greens and small greens remain unchanged, with French greens trading at 22 cents FOB farm and small greens at 21 cents/lb FOB farm for a No. 1 grade. With a predicted increase in lentil tonnage for this crop year, pricing is expected to remain subdued and steadier, with smaller peaks and valleys compared to recent years.

Growers are beginning to report issues with second growth in their oat crops, and this serves as a reminder that most milling buyers will reject oats sprayed with Roundup. It’s best to confirm with buyers before making a pre-harvest application. Milling oat prices this week range from $3.40 to $4.00 delivered, depending on movement and location. Finding buyers for quick movement has become challenging, with October shipping being the earliest option this week and most buyers are now looking to price product into the new year. Depending on final grades and volumes, the oat market is expected to remain similar to last year, as early predictions suggest a comparable crop size.

Barley continues to face harvest pressure as growers report strong yields and work to clear bin space. Adding to this, the potential for a record-large U.S. corn crop is weighing on Canadian barley prices. On the malt side, demand has been quiet, though maltsters remain open to offers. Having grading information and specifications for malt varieties on hand can help create sales opportunities. Feed barley prices in Saskatchewan are currently quoted between $4.00 and $4.50 per bushel, with stronger values available closer to feedlot alley. For those able to store grain until the first quarter of 2026, bids of $4.50 to $4.75 per bushel FOB farm may be achievable depending on location. Prompt movement remains difficult to secure, and pricing will reflect that reality.

Canaryseed prices have held steady this week, but recent StatsCan stocks data suggest a slightly lower yield for this year’s crop. The reduced yield, combined with increased acres, places projected production roughly on par with last year’s total of 185,000 MT. As mentioned last week, last year’s carryout is higher than usual, so while these numbers aren’t as large as some expected, there is still a significant volume likely to remain on farm. Sales have slowed compared to recent weeks as many sellers have turned elsewhere, with bids now hovering around 20 cents per pound.

Potentially bullish news for canola markets this week include the Canadian delegation to China returning and reporting constructive discussions with Chinese officials. In related news, the Prime Minister has announced $370 million in support for Canadian agriculture, including new biofuel production, amendments to the Clean Fuel Regulations, and increased loan limits for canola producers of up to $500,000, along with investments in AgriMarketing and trade diversification. Canola pricing has softened since yesterday, with November futures sitting at $629.60/mt at the time of writing. The market is currently showing roughly an $11/mt increase for January and March futures.

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.