Why is the futures price a forecast of the future spot price?
Futures prices affect market supply and demand. Futures price refers to the price at which the buyer and the seller agree to deliver on a certain date after the transaction is established. Futures price is a forecast of spot price. Once the futures price is formed, it will immediately spread outward, affecting market supply and demand and forming new prices. This cycle makes the price dry and reasonable, and the trend of futures price and spot price is basically the same and gradually backward. The futures price is the future spot price.