Futures is a concept corresponding to spot. By signing a contract, the buyer and the seller agree to deliver a specific amount of spot at a specific time, price and other trading conditions. Since the final realization (delivery) of trading is in the future, traders can conduct futures trading according to their own expectations before delivery. Theoretically, if there are enough informed traders, the futures price can better reflect the expectations of the whole market for a specific futures price, thus reducing the abnormal price fluctuations. The production cycle of agricultural products is long enough to constitute futures trading. The formation of prices mainly depends on market expectations.

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