MARKETING GRAIN AT COUNTRY POINTS. 25 
upon levies a similar penalty upon the elevator. The country dealer 
experiences more difficulty in shifting his loss upon the farmer, who 
usually is unwilling to submit to a discount for low-grade grain, or 
for inability to fulfill a contract. The aggrieved dealer is loath to 
invoke the aid of civil authorities, fearing the effect of such action 
upon future business. Of course, the farmer has no recourse, but he 
should take this matter into consideration when entering into an 
agreement for future delivery of his grain. 
ADVANTAGES OF CONTRACTING FOR FUTURE DELIVERY. 
The practice of purchasing grain from farmers for future delivery 
has certain desirable features both for dealer and for producer. The 
advantages for the dealer are (a) greater certainty of supply and (0) 
opportunity to sell for future delivery, which enables him to take ad- 
vantage of any favorable price movement. The farmer, likewise, is 
at liberty to dispose of his product at any time which, in his judg- 
ment, is most propitious to his interests. Nevertheless it would seem 
that it would be to the advantage of both farmer and dealer if all 
future-delivery contracts were made in writing, each detail, such as 
the number of bushels involved, quality of grain, date of delivery, and 
possible premiums and discounts, clearly and concisely set forth, 
thereby avoiding the possibility of misunderstanding at any stage 
of the transaction. It has been suggested also that the welfare of all 
concerned might be promoted still further if a reasonable margin 
were posted to insure the good faith of the contracting parties. 
' Inasmuch as this system is followed by members of boards of trade 
and exchanges in the making of future contracts, it would appear to 
be a desirable practice and a safeguarding of mutual interests. 
STORING GRAIN FOR FARMERS. 
Frequently the farmer does not market his surplus grain at the 
time of harvest. Sometimes he may hold it for a more favorable 
market, while at other times it may not be convenient to deliver it to 
the local elevator at harvest time, because of the rush of other im- 
portant farm work. 
After small grains have been harvested and after corn has been 
husked they may be stored on the farm or at the country elevator, 
or shipped to the central market and there stored in one of the public 
elevators. Many farms are not provided with suitable granaries, and 
unless the farmer desires to sell at harvest time he must store his 
grain either at the local elevator or at the terminal market. Very 
little grain is shipped from the farms to the central markets for 
storage. : 
