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This newspaper page contains 18 articles. Subscribers can read the full text of each article.
Newspaper
Cheyenne State Leader
Location
Cheyenne, Wyoming, United States of America
Date
Mar 03, 1912
Page
15
The article explains the role of the Council of Grain Exchanges in coordinating major U S grain markets to reduce costs. It describes the bull and bear dynamics, the shift to futures trading, and the aim to reflect true supply demand while balancing producer and consumer interests.
The Chicago board of trade began organization on March 13 1848 led by T Richmond and W L Whiting future merchants exchange aims included maintaining a commercial exchange uniform customs justice in trade quick dispute resolution and sharing economic information for member cooperation.
The Philadelphia Commercial Exchange is a founding member of the Council of Grain Exchanges and serves a vast western shipment network. It covers a large eastern market with active daily attendance, offering a ready market for grain and feeding stuffs. Capt. John O Foering heads inspection, ensuring honest grading and protection for western shippers in distant markets.
Since its founding the Omaha Grain Exchange shifted from futures to a larger cash market. Chicago Minneapolis St Louis and Kansas City futures offered hedging, prompting Omaha to focus on cash trading. About 100 cars daily change hands between 10:30 am and 12:30 pm with strict rules preventing misuse of consignments or off hours trading.
The Cairo board of trade, a body of grain and hay merchants and progressive citizens, serves Cairo Illinois. It represents local merchants, oversees watching and departments, and aims to advance the southern gateway market driven by Lillwood and surrounding territory.
The grain exchanges serve as the conduit from farm to consumer and the Merchants' Exchange of St Louis stands as the oldest U S trading body and third largest primary receiving market. It handles futures trading, operates a traffic bureau to guard shipping interests and freight rates, and runs a weights department to ensure accurate weighing of all goods handled by members and their shippers.
The Toledo Produce Exchange highlights its central role in winter wheat and clover seed markets. Shippers gain current values and uniform grain grades while interior mills bid competitively, yielding favorable prices on low grades. Local mills pay top prices, with steady demand for white grades and constant cat bids daily.
The Grain Trade Association of San Francisco operates from Merchants Exchange building at 431 California Street with two daily sessions 9:30 to 11:30 a.m. and 1:30 to 2 p.m. on weekdays and no afternoon session Saturdays. Futures trading occurs at both sessions and samples are shown only at the morning session. Grain sold in California is mostly by sample and delivery on futures contracts is inspected for online contracts.
The Corn Exchange of Buffalo promotes itself as the largest exclusive cash grain market in the United States. It cites the city’s advantageous location on the Great Lakes and rail and water routes as key to connecting western production with Atlantic consuming markets. The text emphasizes Buffalo as a premier grain hub with extensive shipping facilities and routes.
The Minneapolis Chamber of Commerce highlights its wheat marketing role in a leading hard wheat market. It notes Minneapolis as the world’s largest milling center with terminal elevator capacity over 40 million bushels, underscoring the city as a major distribution hub.
The Peoria market operates for cash grain with no option trades. It is a major hub for accumulation and distribution of corn and oats, with about two and a half million bushels of storage and an elevator transfer capacity near two hundred cars per day. Peoria is a large corn consuming market, grinding about fifty thousand bushels daily for glucose and distilling. Receipts come mainly from Illinois and Iowa, with lower grade corn shipped from western and some southern states for local use. Grain for shipment moves to points east and south, with grain inspection rules adopted by the Grain Dealers National Association.
The New York Produce Exchange has long been the city’s commercial hub with a trading floor that functions as a vast market. Its 2,046 members cover a wide range of goods from grains and animal products to oils and dairy, with trades from single packages to full cargoes under class specific rules.
The Wichita Board of Trade emphasizes the need for a central grain market near production, arguing Kansas leads in wheat production and that Wichita’s location and rail links make it the ideal site for a primary grain market and trade hub. Nebraska and Kansas claim large grain outputs, supporting regional appetite for a central market.
The Duluth market, a leading flax and durum wheat center, boosted export activity as durum wheat rose in large production. Its free export policy pushed strong demand for American durum in foreign markets.
The Milwaukee Chamber of Commerce operates the weighing and inspection of grain locally, unique among major markets. Each year about 60,000,000 bushels pass through Milwaukee’s grain system, with few complaints about weights or grading, supporting the case for local oversight.
Kansas City, the nation’s largest primary winter wheat market, handles 60,000 bushels daily when mills run full time and stores 11 million bushels. In 1910 it received 43,527,700 bushels of wheat and other grains while futures are quoted from St Louis Chicago and Minneapolis through the Board of Trade Clearing House.
Grain arriving in Baltimore is inspected by a chamber of commerce weighing staff with railroad representatives. Car condition is recorded, graded, and unloaded per contract or instructed. Samples are sent to consignors, with transfer receipts and memoranda detailing party, bushels, price, date, and contract to apply.
The St Joseph board of trade in Missouri handles a large grain market with high volume annually. The article notes efficient dispatch and minimal delay in grain freight, reflecting strong rail connections and active trade in the region.
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