A specific category into which an agricultural commodity is graded and sold. Products within the same market class share similar physical characteristics, processing qualities, and culinary uses. For example, wheat is divided into market classes like Hard Red Winter or Soft White, which dictate whether the grain is priced and sold for bread flour, pasta, or pastry.
Heard on the job
The elevator is paying a premium for that market class because the millers are short on hard red spring wheat.