Futures warehouse receipt refers to the certificate that the holder keeps in the exchange based on the futures contract and records the quantity and quality of a specific commodity. Order quantity generally refers to the fixed purchase or sales quantity determined between the buyer or seller and the supplier in a certain period of time. Because futures trading involves leverage, parity and other factors, and the number of orders is generally determined according to actual demand, the number of futures warehouse receipts often exceeds the number of orders.
Trading in the futures market can be conducted through futures contracts, which can be used to avoid risks, lock prices and participate in market fluctuations. In futures trading, we need to consider factors such as futures warehouse receipt, margin and delivery, but these factors are not included in the calculation of order quantity. Therefore, although the number of futures warehouse receipts may be more than the number of orders, they are not exactly equal.