Soybeans received at 12 central Iowa elevators in 1985-1987 were analyzed for protein and oil content. The standard deviation among deliveries to an individual elevator was 1.0 and 0.5 percentage points for protein and oil, respectively. About 15% of samples were above average in both nutrients. About 15% were below average in both nutrients. The rest were above average in one and below average in the other. Although the elevators were located within a 120-km (72-mile) diameter circle, some differences among locations in average protein and oil content were consistent over the three years of this study. Because 70% of the variability in protein and oil occurred at an individual elevator, it will be most important to identify protein and oil at the first point of sale. A near-infrared reflectance analyzer was capable of operating within the constraints of a large country elevator involved in corn and soybean trade.