The function and significance of warehousing theory. Warehousing theory also investigates the influence of basis change with time from a dynamic perspective, and further analyzes the relationship between spot market price and futures market price. The results of warehousing theory analysis show that with the approach of delivery time, the warehousing cost contained in spot price is more and more, while the warehousing cost contained in warehousing theory futures price is less and less. The difference of storage cost between spot market and futures market is getting smaller and smaller, and the basis of storage theory will tend to zero on the delivery date.

The relationship between warehousing theory and price basically reflects the current supply-demand relationship, warehousing theory and even the future spot market. The producers and operators in the market can use the price change trend of the futures market to guide their own production and operation. Therefore, the warehousing theory futures market has a strong price discovery function.