First, futures are converted into spot, futures and spot. Don't be confused here. The closing price agreed by both parties is 2040 yuan, which is the closing price of futures. For Party A, as the buyer, the cheaper the better, the lower the cost. Futures opening price 1900 yuan/ton, closing price 2040 yuan/ton, earning 140 yuan/ton. The opening price of selling positions is 2 100 yuan/ton, and the closing price is 2040 yuan/ton. The agreed settlement price for wheat to earn 60 yuan/ton in futures is 2000 yuan/ton, which is the spot settlement price. As the buyer, the actual cost of Party A should be 2000-65,438+040 = 60. As the seller, the actual selling price should be 2000+60=2060, and the delivery cost of wheat handling, storage and interest is 60 yuan/ton. In the process of futures delivery, the seller first transports his products to the designated delivery warehouse. Now, if the futures are not cashed, for Party A, the buying cost of Party A is 1900. The actual cost of Party A after cashback is 65,438+0,860. Comparatively speaking, the cash back cost of futures is lower, 1.900- 1.860 = 40 yuan, which means that Party A saves 40 yuan. The "no cash back, the cost of Party A's purchase is 1.900", which is the opening price of futures. Now, if not, Party B's selling price is 2 100, but the delivery cost of wheat transportation, storage and interest he has to bear is 60 yuan/ton (in the process of futures delivery, the seller first transports the products he wants to sell to the designated delivery warehouse), so the actual selling price is 2 100-60 = 2040, and the actual selling price of Party B after cash transfer is 2040.