Flax prices have remained steady for another week, ranging from $16.25/bu for prompt movement up to $17.25/bu for delivery out to December. Flax harvest in Saskatchewan hasn’t ramped up yet, so yield reports are still limited. However, with fewer flax acres planted year-over-year, prices are expected to stay supported, despite early reports suggesting higher yields than in 2023. Market signals hint at potential export improvements for the 2024/25 season, which could further stabilize or even strengthen future pricing. Attention is also focused on flax production from Russia and Kazakhstan, as their output may impact global market share. Yellow flax continues in light trade at $20-$21/bu, with markets operating on a hand-to-mouth basis.

Canaryseed prices have started to pull back slightly, now sitting around $0.33/lb FOB farm. This was expected, given reports of decent yields contributing to increased supply in the market. Buyers are likely focusing on fulfilling their new crop contracts, meaning demand for quick shipment is likely minimal at the moment. However, current pricing is still considered favorable, especially if you’re looking to free up bin space and generate some cash flow. Call your merchant to discuss firm bids in your area.

The barley market remains stable, with spot bids ranging from $4.25 to over $5/bu FOB farm, depending on delivery timeframe and location. Reports suggest more feed barley will enter the system this year, particularly as malt varieties fail to meet weight spec. Those sitting on light barley are still able to secure values as buyers offer on farm bids with discounts to be determined prior to contracting. Growers with heavy product will see opportunities for the strongest values so make sure you have your barley tested prior to marketing. While malt barley markets remain quiet for now, there’s potential for future demand if new crop contracts need to be replaced. Moving some barley into the current market may be a smart choice, as prices could face downward pressure from increased supply and competition from corn.

Pea markets have shown some positive movement, especially for green and maple varieties. Green peas have traded as high as $15/bu picked up, based on a maximum of 3% bleach, while maple peas have seen prices ranging from $17 to $20/bu, depending on the variety. The outlook for green peas is optimistic, though prices will likely be influenced by India’s next rabi crop, expected in early 2024. Yellow peas have remained stable, trading around $9.50 to $10/bu picked up. Competition from Russian exports to China and India will continue to affect yellow pea prices and should be monitored closely. If you have a target price in mind, it’s a good idea to communicate with your merchant so they can explore possible opportunities. USD pricing for our neighbors south of the border is always available, call for values in your yard!

Green lentil prices have strengthened across all varieties this week. Large green lentils are now trading at 53 cents/lb FOB farm for No. 2 or better grade, small green lentils are priced at 48-49 cents/lb for No. 1 spec and #2 CAN grade medium green lentils are trading at 35 cents USD or 46 cents CAD. The reason behind this price increase isn’t entirely clear yet, but it appears to be driven by strong overseas demand. In contrast, red lentil prices remain steady in the 29-30 cent/lb range for October-November movement. Buyers are primarily focused on green lentils due to the stronger demand, while they wait for more information about the Australian crop before shifting focus to red lentils. Sales remain relatively slow, despite the market nearing the price averages seen last winter and spring for new crop contracts. This sluggish pace could be attributed to a few factors: some producers may be satisfied with sales already made, others might be waiting for production contracts to clear before making additional sales, or the market may simply be pausing after some recent volatility. As we move further into harvest, the green lentil market remains somewhat unpredictable, making it challenging to gauge the future direction.

After some initial buying interest and consideration from sellers, chickpea markets have remained flat this week. With harvest wrapping up, growers are focusing on managing their books and cash flow, but chickpeas are not currently a priority for many. Bids are sitting around $0.43/lb FOB farm for a #2 large Kabuli chickpea with typical sizing parameters (maximum 10-15% 7mm, minimum 20% 9mm), with movement expected between September and December 2024. While there is anticipation that Canada will have a larger chickpea crop, the final yields are still coming in to provide more clarity, leaving the market in a holding pattern for now. India has seen a recent rally in chickpea prices, but that too has cooled off as the season transitions from old to new crop.

Some brighter news to report in mustard markets this week as we see small signs of stabilization after months of declining prices and demand. Most buyers have begun to re-emerge, showing firm bids on all types with small, but steady, amounts trading in recent weeks. Despite the seemingly stronger demand, yellow and oriental values remain unchanged still quoted as high as 43 and 30 cents/lb respectively, though firm on farm values will depend on timing of delivery and location. On the other hand, brown mustard shows some life with multiple bidders now quoting 32 cents/lb FOB farm for relatively quick movement. If you’re looking to clear bin space or generate cash flow, there are opportunities to move product that weren’t available only a couple weeks ago. As always, feel free to reach out with firm offers as there may be more openings to get a trade on the books. While the overall market still remains somewhat subdued, these recent developments offer a glimmer of hope for mustard growers looking for improved pricing and shipping windows.

Canola starts the day showing gains, with November futures sitting at $580.70/MT and January futures at $593.20/MT. Harvest is progressing steadily, with Sask Ag reporting 28% of canola harvested in Saskatchewan as of September 9th, while Alberta sits at 21% completion. There are no significant updates on China’s anti-dumping investigation this week, but the market remains vigilant as this could impact future pricing. Despite these concerns, Canadian crush margins remain strong, and domestic oil prices are holding firm. Local prices for canola delivered to various Saskatchewan plants are in the range of $11.90-$12.50/bu, depending on the timeframe and basis level. For specific FOB farm tailored bids, get in touch with your Rayglen merchant!

Last week’s USDA report reduced global wheat production by 1.4 million metric tonnes, but overall, the report was viewed as neutral. While significant reductions in the EU were noted, increases in Australia and Ukraine, paired with strong global beginning stocks, offset the lower estimates. Locally, wheat harvest is moving along well across the prairies, with Saskatchewan at 60% complete, Alberta at 70%, and Manitoba at 68%. Durum harvest is further along, with 83% complete in Saskatchewan and 72% in Alberta. Wheat prices are around $7.25/bu delivered to Saskatchewan plants for #2 or better with 13.5% protein, and premiums are available for higher protein content. Durum prices are generally around $8.50/bu delivered, with shipping stretching into 2025, though growers in SE Saskatchewan may see opportunities for values closer to $9/bu FOB headed stateside. For feed wheat and other varieties, it’s best to reach out to your merchant for updated pricing.

Soybeans are receiving a slight boost ahead of an anticipated U.S. interest rate cut, while the International Grains Council (IGC) continues to forecast one of the largest global soybean crops in recent years. Local soybean bids range from $10.25 to $10.75 FOB farm. In Argentina, challenging growing conditions are expected to significantly reduce dry bean production. This could lead to some renewed demand from Mexico, though it’s likely to be more muted than last year. Dry beans are seeing prices between 51¢ and 55¢ per pound delivered. Meanwhile, export demand for fabas remains quiet due to sufficient production from Australia and the UK. Feed-quality fabas are priced at around $8.00/bu FOB farm.

Oat harvest is underway, though rain across the province may negatively impact it. Grower quality is varied, with both light and heavy product entering the market. Buyers are finding it challenging to secure homes for low-weight oats, as demand is scarce for subpar quality. In contrast, heavy milling quality oats are priced more favorably in Eastern and Southeastern Saskatchewan, ranging between $3.75 and $4.00/bu picked up on farm for movement towards the end of the year. However, bids drop as origin moves further west, where freight costs play a more significant role, often making feed oats comparable in pricing.