Spot price reflects the relationship between supply and demand of products, while futures do not. The price of futures is the result of the future price game between buyers and sellers. The trading volume of futures shows not the trading demand of commodities, but the enthusiasm of participating in the future prediction of commodities. The greater the popularity, the more people will participate in the forecast, indicating that the price forecast will be more accurate to some extent, which has nothing to do with the supply and demand relationship of commodities. To answer your first question, what is the relationship between the futures price and the spot price? For example, the futures price is the weather forecast, the spot price is the real-time temperature, and the futures is the forecast value. It stands to reason that the factors that affect price changes should be irrelevant before they appear. However, because of the fluctuation of futures prices, spot traders will hoard when they encounter price increases and sell when they encounter price decreases. So the spot price is basically linked to futures, and it is positively related, although