Critique These 2 Feeds Please...

I have another post on here covering the same issue, but I'm going to try it from a slightly different angle. Please critique these two feeds in detail. I keep hearing many different feeds are not good because they are "grain based", but from I can tell just about every feed option out there has grains listed. So please tell me which specific ingredients are bad and what I should look for instead. Thank you!

What do you need out of your horse, how is his weight, does he keep easily, what is your budget?

There are so many grains out there and such a commericalized grain industry, it often seems more confusing than it needs to be. That's why I ask.

The barn where I board buys all of the feed, so budget wise I can't really give a solid answer (One feed I believe is around $9/bag and the other is more). My mare will eat anything and everything, extremely easy keeper, and is in perfect health and condition. She's being leased and shown, and has a pretty high activity level. My gelding could probably stand to lose a couple pounds, but nothing major. I'm trying to get him back in shape at the moment, probably a moderate activity level (exercised about 3 times a week), and he's a bit picky.