The Minneapolis Grain Exchange (MGEX) was formed in 1881 in Minneapolis, Minnesota as a regional cash marketplace to promote fair trade and to prevent trade abuses in wheat, oats and corn.
MGEX has been the principal market for Hard Red Spring Wheat (HRSW) since 1881, offering futures and options contracts based on its unique commodity. HRSW is one of the highest-protein wheats. It is found in bagels, pizzas, high-quality breads and cereals, and some noodles and cookies. It is planted mostly in the U.S. Northern Plains and the Canadian Prairies.
Read more about Minneapolis Grain Exchange: Operations, History
Famous quotes containing the words grain and/or exchange:
“Have We not made the earth as a cradle and the mountains as pegs? And We created you in pairs, and We appointed your sleep for a rest; and We appointed night for a garment, and We appointed day for a livelihood. And We have built above you seven strong ones, and We appointed a blazing lamp and have sent down out of the rain-clouds water cascading that We may bring forth thereby grain and plants, and gardens luxuriant.”
—Qur’An. “The Tiding,” 78:6-16, trans. by Arthur J. Arberry (1955)
“Ideal conversation must be an exchange of thought, and not, as many of those who worry most about their shortcomings believe, an eloquent exhibition of wit or oratory.”
—Emily Post (1873–1960)