The grain offering comes from the fruit of the ground, which God gave to mankind. The early chapters of Genesis show that God has given what comes from the ground to mankind (Genesis 1:29; 2:16). More specifically, the grain offering represents the fruit of one's labors out of what God has given, and dedicating those labors to God and man. As it says here, a portion of the grain offering is put on the altar for God, while the remainder is given to the priest, who can represent mankind in general in this parable.
While the primary ingredient is flour, the offering also contains oil and frankincense, which are other examples of the fruit of the earth. There are varying levels or types of grain offerings in this chapter, but whatever the form, labor is involved. In addition to the work of sowing, tending, harvesting, winnowing, and preparing the grain, labor is involved in the other ingredients as well. There is the harvesting of olives and pressing them into oil. The oil is a symbol of God's abundance, including (but not limited to) His Spirit. There is labor in collecting and refining the frankincense, which has a pleasing aroma that comes out when heat is applied. As a quick note and application, the frankincense invites us to consider whether we produce a pleasing aroma to God when a trial in service puts some heat on us. But as we can see, the one making this offering is involved in all kinds of labor, and he gives this token to God and to his fellow man in the person of the priest.
Unlike the burnt offering or the sin offering, the grain offering is not substitutionary. That means it does not represent an individual. Instead, it pictures the individual's labors from God's bounty. That is an important distinction, so I will repeat it: The grain offering does not represent an individual, but rather the individual's labors. God requires His portion first, which is burned on the altar, and the rest of the offering is for human benefit. Notice, though, that the offeror does not keep any part of the grain offering—he gives it away completely. Just keep that in mind because there is a very helpful lesson we will come back to.