The so-called futures refers to the fact that both parties to the transaction do not have to deliver the actual goods at the initial stage of buying and selling, but agree to deliver them at some time in the future. It's futuristic.
Commodity exchanges trade futures contracts. The so-called futures contract is a standardized contract formulated by the exchange, which stipulates to deliver a certain quantity and quality of the subject matter (such as oil, precious metals and other resources, corn and soybeans, as well as financial products such as stock indexes and interest rates) at a specific time and place in the future.