Therefore, many people in the market, who take futures warehouse receipts, are not hedging for upstream production enterprises, nor for downstream consumer demand. They only exist for the price difference. Without this group of people in the market, it will be difficult for both parties to complete the transaction smoothly, but when the price difference is reasonable and there are enough middlemen, an effective communication bridge will be formed between buyers and sellers. This creates a handling fee to support brokers and exchanges. The advantage is that it plays a role in communicating with the society, but it is not helpful to increase the total social welfare. Personally, I don't know if it will help you. For reference only.