[307] 'I STOOD IN ThE CENTER OF THE WHEAT FIELDS OF NORTH DACOTA where the wheat could be seen as far as the eye could reach, and these wheat fieldsas they were turning yellow in the summer were like the waves of the ocean.' So began the testimony of Charles Pillsbury, the largest commercial operator in grain in the United States, before the United States House Committee on Agriculture's 1982 hearing Fictitious Dealings in Agricultural Products. 'I thought that the man who managed or sold or owned those immense wheat fields has not as much to say with regard to the price of the wheat that some young fellow who stands howling around the Chicago wheat pit could actually sell in a day.' According to Pillsbury, the trading in the Chicago pit had lost touch with the reality of the waving fields of wheat.