ABSTRACT
The rise and progress of the grain trade of the United States is one of the greatest marvels of an age noted for its commercialism. As in every agricultural community, the three concentric circles of distribution which arose were centered in the local market, in the city market, and in the foreign market. In the modern wheat industry, wheat farming is mainly for a commercial surplus. The buyer of wheat is always located within hauling distance of the producer’s home. There are two classes of buyers, the local grain dealers and the dealers who represent the terminal grain buyers. The history of the primary market has been the history of the terminal elevator systems. Formerly wheat was sold by sample, and grading was in effect merely the determination of the value of the grain. Particular lots of grain, even if of the same grade, had to be kept separate, and they had to be delivered to the proper owner.
