Public Elevator
A grain elevator that, for an associated fee, stores the bulk grain of public clients.
Investopedia Commentary
In public elevators there is no separation of client's holdings, so there is the possibility that the stored grain will become mixed. A public elevator must be approved by an exchange to be considered a regular delivery location for futures contracts.
Related Links
Futures Fundamentals
Interpreting Volume for the Futures Market
See also: Approved Delivery Facility, Cash Commodity, Commercial Grain Stock, Cost of Tender, Crop Year, Delivery Notice, Futures Contract, Grading Certificate