Grain Merchants

As with other brokers, some grain merchants work on a commission basis and others work for a straight salary. Earnings vary depending on the size of the employer, the experience of the employee, and the specific job responsibilities. The U.S. Department of Labor reports that the mean salary for purchasing agents and buyers in the farm product raw material industry was $74,200 in May 2023. The lowest paid 10 percent of all purchasing agents and buyers earned less than $43,680 and the highest paid 10 percent earned more than $121,680 a year.

Salaries, overall, are highest for elevator managers at large regional terminals and for successful grain buyers and brokers. While grain brokers and commodities traders can earn quite a bit of money, the nature of their work means they could lose huge amounts as well. A great deal of a grain merchant's success depends on making the proper contacts with grain suppliers and buyers. Those who work for the federal government may earn somewhat less than those in the private sector. Full-time grain merchants usually receive paid holidays, health insurance, and other benefits. Many firms also have pension plans.