★ Harvesting has started, with yields generally around average. In some areas, yields are slightly below earlier expectations, but sizeable old-crop carryover stocks continue to weigh on the market. Buyers remain quiet on pricing, while discounts are being seen for the 2025 crop.

★ Old-crop red lentils are trading around $0.22-$0.23/lb picked up, while old-crop large green lentils are at $0.22-$0.24/lb FOB. The upper end for large greens is based on a maximum 1% stain specification. Small green lentil bids are around $0.17/lb FOB farm for the 2025 crop and $0.19/lb FOB farm for the 2026 crop. Favourable rainfall in Australia is expected to support red lentil production this season, while India’s monsoon remains an important factor. The performance of international crops will be key in determining whether the Canadian lentil market sees a meaningful recovery.

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★ Pea harvest is underway, with total production expected to decline from last year. Based on Statistics Canada’s acreage data, yellow pea production could fall by around 30%, while green pea production may decline by about 26%. Production of other pea classes is expected to remain largely unchanged.

★ Despite strong exports, sizeable carryover stocks of green peas and other classes continue to keep overall supplies comfortable. Green pea prices remain steady at around $9.00/bu delivered for a maximum 3% bleach specification. The yellow pea market could have a tighter outlook as strong exports may reduce ending stocks during the 2026/27 crop year. Prompt buying opportunities for yellow peas are currently around $8.00/bu delivered. Prices are likely to remain range-bound through harvest until actual yields and quality become clearer.

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★ Buyers remain cautious about new-crop purchases and are waiting for a clearer picture of crop size and yields. Demand is strongest for larger-sized chickpeas, and good #2 quality is expected to attract buying interest once harvesting gets underway.

★ However, lower-quality chickpeas could remain difficult to sell, as sizeable volumes of off-grade product are still moving through the market.