I am easily able to obtain some Phalaris, reed canary grass. I have read that it contains gramine, which is highly toxic.

Would an extraction eliminate the gramine, or not?

no..it is very very hard to remove the gramine with the normal extraction teks..
Gramines toxicity however is still up in the air..I wouldnt mess around with it too much though just in case..I have smoked phalaris arundinacea extracts a few times from wild grass I collected..it was active..but definatily NOT a clean NN profile..lots of 5meo and other it seemed..

If anything grow it and try to boost the alk content as much as possible..i think it could be worth it if you do that..or get phalaris brachystachys/aquatica..

One thing that I am interested in though is the fact that bufotenine is in the grass as well..I was thinking of toasting a whole bunch of grass to remove other alkaloids and then do an extraction to see if I can get any usable ammount of bufo out of the stuff..since it grows everywhere here..probabily just overacitve imagination though

All right, I don't think I will be bothering with the phalaris family, the threat of gramine is not worth it.

Gramine can be separated from DMT very easily. Its melting point is 138 C which is above DMT’s boiling point of 80 C, so the DMT can be vaporized at a temperature that won’t vaporize gramine. Using a digital vaporizer, simply heat your DMT to 100 C and vaporize it and no gramine will vaporize.

Hmmm I do have a pretty accurate vape coming in the mail....