The Changing Face of the U.S. Grain System

Overview

U.S. grains were once exclusively handled by commodity markets characterized by standard grades (for example, number 2 yellow corn), a large number of buyers and sellers, and prices that were transparent on commodity exchanges. Increasingly, though, specialty grains (for example, fiber-enriched wheat as an ingredient in low-carbohydrate foods) are requiring adjustments in the marketing system in order to preserve their added value or prevent accidental commingling with standard grains.