Grain exchanges are marketplaces where various types of grains, such as wheat, corn, and rice, are bought and sold. These exchanges facilitate trading between farmers, traders, and food companies, helping to determine the prices of grains based on supply and demand. They play a crucial role in the agricultural economy by providing a platform for price discovery and risk management. In addition to physical trading, many grain exchanges also offer futures contracts, allowing participants to lock in prices for future delivery. This helps producers and consumers manage price fluctuations and plan their operations more effectively. Notable examples of grain exchanges include the Chicago Board of Trade and the Minneapolis Grain Exchange.