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What does futures 40 1 mean?
Delivery month.

For example, 40 1 refers to the corn futures contract delivered in April 20021year, where "40 1" represents the delivery month. Futures is a kind of financial derivatives, which refers to a contract to buy and sell a certain subject matter at an agreed price at a certain time in the future. Buyers and sellers conduct transactions by signing futures contracts. The futures contract stipulates the transaction price and delivery method at a certain time in the future, with the buyer paying for the goods and the seller delivering the goods. The purpose of futures trading is to avoid price risk, that is, to lock in the future buying or selling price by buying or selling futures contracts, so as to reduce the influence of price fluctuation on enterprise management.