This global influence tends to be reflected in futures market prices in Chicago, Kansas City and Minneapolis, which in turn affect cash prices offered on a given day. Thousands of buyers and sellers within the U.S. and throughout the world openly participate and compete in these markets daily, with current price information communicated on a global basis. Some of these services, in addition to providing futures market price information, also offer cash grain market prices and bids. For example, DTN releases daily cash market prices from more than 2,000 locations in the U.S., updated around the clock. This information reaches more than 100,000 customers across the country.
Similar data are available through other electronic, voice and print media.
There are many options for producers when it comes to potential customers for their product. In some areas, there are also grain buyers who travel to farms by truck and buy from the producer on-site. It must be recognized that while grain and oilseed processors and exporters often purchase grain directly from farmers, the companies tend to buy the majority of their raw material from independent local businesses operating elevators owned by private entities or farmer cooperatives. In addition, farmers' marketing alternatives are expanding. This increases the competition among grain merchants for customers, to the benefit of the producer.