) supply and demand. Futures trading is the product of forced liquidation of stock index futures market economy, which is developed on the basis of how to liquidate futures in spot trading. Commodity futures price is the expected reflection of the relationship between supply and demand of open contracts in commercial futures. Therefore, the price change of commodity futures is affected by the market supply and demand relationship of forced liquidation of commodity futures. When the supply of commodities exceeds demand, the corresponding futures prices fall; On the contrary, futures prices will rise. Therefore, we should pay attention to carry-over inventory, output, production report, what is the significance of natural gas futures liquidation, economic situation, other supply and demand conditions such as substitutes, global competitive factors and so on.

(2) Economic cycle. In the futures market, the price change is also affected by the economic cycle of stock index futures opening and closing. At every stage of the economic cycle, the price of stock index futures will rise and fall accordingly.

(3) Seasonal factors. Many futures commodities, especially agricultural products, are forced to close their positions seasonally, and their prices fluctuate with the changes of seasonal futures.

(4) Factors of financial market changes. In the process of world economic development, inflation, the liquidation rate of currency exchange futures and the fluctuation of interest rates in various countries have become common phenomena in the compulsory liquidation of stock index futures in economic life, which has brought increasingly obvious influence on how to liquidate futures markets and commodity futures.

(5)** policy. Some policies and measures formulated by various countries will have different degrees of influence on the open futures market price.

(6) Political factors. The futures market is very sensitive to the change of forced liquidation of political and gas futures, and the occurrence of various political events often affects the price to varying degrees.

(7) Social factors. Social factors refer to the public's concept and social psychological trend of opening and closing stock index futures.