Canola markets have pulled back slightly this week after a strong run, with November futures trading around $818–$821/tonne this morning. Pressure is coming from weakness in soybeans and the broader vegetable oil complex, along with improving Prairie weather that should allow harvest to pick up and bring more canola into the commercial pipeline. Despite the recent setback, canola remains historically strong, with support coming from a weaker Canadian dollar, solid domestic crush demand and improved export opportunities. European rapeseed prices have also been firm, providing some underlying support to the oilseed complex. For now, harvest progress and movement in soy oil, crude oil and the Canadian dollar will likely dictate the next move, but values above $800/tonne continue to offer attractive pricing opportunities.

Mustard markets remain fairly steady heading into late September, with little movement in pricing across the different varieties. Recent rains have yet to create any noticeable urgency from buyers, although demand remains present. Yellow mustard continues to trade around $0.37-$0.40/lb FOB farm, with some interest in off-grade depending on specifications. Brown mustard remains in the $0.35-$0.38/lb range, while oriental continues to see similar demand at comparable values. Strongest bids are generally tied to longer delivery windows, so growers with the ability to hold product may find an opportunity to capture a few extra cents by being patient. As always, our offer system continues to generate buyer interest, so if you have a price in mind, putting out a firm target may be a good way to try and squeeze a little more out of the market.

Oat markets remain steady for another week, with little change in current bids. Milling-quality oats are valued around $3.50/bu FOB farm, with buyers generally preferring movement into 2027. Off-quality and feed oats continue to trade around $2.50-$2.75/bu FOB farm for October-December movement. There are still plenty of questions surrounding both the amount and quality of oats sitting in bins, and neither buyers nor sellers appear to be in much of a hurry at current levels. For now, knowing the quality of your grain and being prepared to act when the right opportunity comes along remains important.

Flax prices remain mostly sideways, with values sitting in the $16.00-$16.50/bu range and some offers for new year movement getting buyer attention. Although production is expected to be lower for the 2026 crop, carryover from last year should still leave supplies relatively comfortable for 2026/27. Prices could see some fluctuations throughout the marketing year if export demand fails to improve. Chinese warehouses are estimated to be holding around 373,000 tonnes of flax, with the majority of that product originating from Russia. In August, less than 600 tonnes of Chinese flax imports came from Canada, highlighting the continued challenge Canadian exporters face in that market. With signs of the market beginning to stabilize, a significant nearby price rally isn’t expected at this point. For growers with yellow flax, opportunities upwards of $20.00/bu are still possible.

Chickpea prices continue to show some strength as harvest delays provide support, with values ranging from $0.28-$0.30/lb FOB farm depending on movement timeframe and sizing requirements. Although yields are expected to come in below last year, significant old crop carryover remains in the system. Quality within those carryover stocks varies, and lower-quality old crop, along with off-grade new crop coming off this harvest, could face some marketing challenges as pet food demand can only absorb so much product. Once harvest is complete, prices could turn sideways to lower as the global market begins looking toward India’s rabi crop in early 2027. For growers with Desi chickpeas, there has been a small amount of recent buying interest, so check with your Rayglen merchant for current opportunities.

Soybean prices took a small step back as traders locked in recent gains, even as the U.S. harvest continues to progress ahead of its normal pace with some solid yield reports coming in. The market could find some support heading into the Trump-Xi summit and the possibility of additional Chinese buying, although much of that optimism appears to already be priced in. A meaningful move higher will likely require a stronger-than-expected agreement or a noticeable increase in demand. Local soybean bids are currently sitting between $15.50-$15.75/bu FOB farm for nearby movement. Edible bean values remain firm as reduced black and pinto acreage, combined with concerns around U.S. yields, continues to tighten the supply outlook. White bean availability is also becoming more limited, keeping buyers active, with both classes seeing FOB farm bids in the mid-to-high $0.40/lb range. Faba bean production is expected to slip slightly, although stronger Baltic crops are helping offset lower output in Australia and the UK. Current faba bids remain around $8.00/bu for #2 export-quality product and $7.50/bu FOB farm for feed-grade beans.

The lentil market hasn’t seen much change over the past week, but prices remain strong compared to the summer months. Current bids for #2 red lentils are sitting in the $0.25-$0.26/lb range depending on location. Large green lentils continue to see bids from $0.25-$0.27/lb FOB farm for #2 quality, with some of the price variation coming from buyers currently showing a preference for 2026 crop over 2025 production. #1 small green lentils are trading around $0.22-$0.23/lb, with some interest in lower-quality Estons. However, discounts are wider than normal due to the abundance of lower-grade product still available. French green lentils have also seen some recent trades around $0.23/lb FOB farm. Some in the trade believe we have a limited window for lentil export opportunities before harvest begins in other parts of the world, while others suggest holding out for stronger values. Our two cents is to consider making some sales to hedge your bets, generate cash flow, and clear some bin space.

The pea market remains relatively quiet this week, with very few trades taking place. Green peas are being indicated around $8.50/bu FOB farm, with one firm offer triggering at $9/bu on specific sizing requirements. Yellow pea sales remain quiet as well, with one offer trading at $8.50/bu, despite $8.00/bu FOB farm a more common bid. We have also seen a few buyers showing interest in maple peas this week, but size and variety are important when trying to capture top dollar. Buyers have been looking for Mosaic or Acres varieties with a minimum seed count of 650 seeds/100 grams around $10.00/bu FOB farm, while product reaching 750 seeds/100 grams has attracted values around $10.50-$10.75/bu. Even if pea prices strengthen, rising fuel costs could limit how much of that improvement reaches the farm gate as buyers deal with higher freight expenses. Despite the current challenges and limited trading activity, renewed interest in maple peas could be a positive sign for the broader pea market. Setting firm targets slightly above current bids may be worth considering to see if buyers are willing to reach for product.

Wheat markets continue to keep a close eye on developments in the Black Sea region after Ukraine intensified drone strikes on Moscow over the weekend. With ports and infrastructure increasingly becoming targets, Black Sea shipping volumes continue to be reduced. Despite generally favourable global wheat production prospects, concerns around tightening export availability from the region continue to provide support to wheat prices. In Canada, harvest progress remains behind normal, with quality continuing to be a concern. Local CPSR bids are indicated around $7.85/bu delivered Central Saskatchewan for September, with a slight carry to $8.05-$8.10/bu for December delivery. CWRS bids into Central Saskatchewan range from $8.60-$8.90/bu delivered depending on delivery timeframe, while #1 CWAD is indicated around $9.00/bu delivered Western Saskatchewan. Feed wheat has come under some pressure as harvest rains impact overall wheat quality, although buyers are still looking for coverage around $6.50/bu FOB farm depending on wheat type, delivery timeframe, and quality specifications. Feed durum has also attracted interest this week, with bids ranging from $6.00-$6.50/bu FOB farm depending on grade. For growers looking to market lower-quality durum, having a grade sheet available to share specifications with buyers has proven valuable in securing bids. Rye also continues to attract buyer interest, with bids around $6.00/bu delivered for early 2027 movement.

The barley market continues to plod along, with prices softening somewhat as harvest pressure brings additional feed supplies to market. Barley delivered into feedlot alley is currently trading around $6.30-$6.45/bu for movement through the remainder of the year. Once freight is factored in, FOB farm values across Saskatchewan are generally ranging from $4.60-$5.40/bu, with some carry available for growers willing to push movement into the new year. There has also been some off-quality feed barley entering the market, but buyers still require product to meet reasonable quality specifications. Knowing your test weight, moisture, and any other limiting factors will go a long way toward finding the right market and maximizing the value of your barley.

Canaryseed markets haven’t changed much this week, although a stretch of favourable weather should finally allow growers to make more harvest progress. We haven’t received many yield reports yet, but as combines start rolling again, we expect to have a clearer picture of production numbers. Prices remain in the $0.19-$0.20/lb FOB farm range, although capturing the $0.20/lb level may require a longer delivery window and seems to be more of a targeted value than a firm bid. With some other commodities seeing stronger price movement recently, it may be worthwhile to keep a close eye on canaryseed for any opportunities that develop. Seeded acres are down considerably this year, but the sizeable carryover continues to hang over the market and limit upside. Quality will also be something to watch as harvest progresses and more samples become available. If cash flow or bin space is becoming a concern, give us a call with a firm offer and we’ll work to find the price and movement that fit your needs.

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.