The most common and most likely answer to this crossword clue is the 10 letter word GRAININESS
I've seen this crossword clue in Financial Times
G
R
A
I
N
I
N
E
S
S
Buddy explains!
The straight part
We know that "Quality of cereals" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case quality of cereals = graininess.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.