Originally part of the NSW government’s Department of Agriculture, GrainCorp was established as a Grains Elevator Board in 1916, when workers were manually bagging grain. In 1917 a Canadian architect, J. S Metcalf, was contracted  to design a terminal in Sydney in the suburb of Glebe. By 1918 the designs were complete and the building of GrainCorp’s first elevator in Peak Hill commenced.

In the mid 1980’s the Grain Elevator’s Board went through a name change to the Grain Handling Authority. The company became one of the first government organisations to be privatised in Australia. The organisation sold for $100 million and in 1992 took on the name GrainCorp. In 1996 the marketing arm of GrainCorp was established, which made it the first bulk handling company to market grain.

In 2008 the wheat market was completely deregulated with the removal of the single wheat desk. This allowed GrainCorp to trade grain internationally in its own right.

in 2009 GrainCorp Malt was formed from the purchase of United Malt Holdings.

GrainCorp Marketing each year buys and sells more than 4.5 million tonnes of wheat, sorghum, barley and canola.