The target of the futures contract is dead, and so is the delivery date. Anyway, everything in the contract is fixed, and the only thing that can change is the price.

I don't know what you are asking.

Deal. Let me tell you about the deal. You asked some questions about the transaction.

How to trade?

After the contract was completed, someone set up a place to buy and sell.

Deal according to time priority and price priority.

That is to say, someone offered 1000 to buy it.

If someone offers 1 100 for sale, then there will be no deal.

The transaction is conducted at the highest buying price and the lowest selling price.

For example, someone bids 1200 to buy, which is the highest price in the bidding, and someone bids 1 100 to sell, which is the lowest selling price, so the transaction is made immediately.

Transaction price 1200.

At this time, both people have positions, one for sale and one for purchase, and the price is 1200.

As for why the price will go up and down, it depends on supply and demand. You said that the price of wheat will reach 2000 in three months, that is, the demand exceeds the supply, such as heavy snow or drought, which will reduce production and affect supply, but the demand is still as much as before, and the price will inevitably rise. (regardless of currency depreciation or deflation)

Then at this time, some people are willing to buy at a higher price. The power of the buyer is greater than that of the seller, so the price goes up.

Falling is the same understanding.

You said face value delivery.

Is the same contract (such as wheat 1009), the transaction price of each contract is different. There must be a sales contract for every purchase contract.

When it comes to delivery, it will be delivered at the transaction price.

For example, you buy the contract of 1 hand wheat at 1500.

Hold it until the delivery date and take the money to send it.

1 hand is 10 ton, you take 15000 yuan to the delivery warehouse, and he will give you a bill of lading (which means something like this), and you can pick up 10 ton of wheat.

The seller of the contract will register a warehouse receipt in the delivery warehouse, with 10 tons of wheat marked on the contract. Then he collects the money, 15000 yuan, and delivers the goods.

Of course, delivery is generally not required, and this thing is generally used for speculation.

For example, the wheat you bought at 1500 is 1009.

After you hold it for a period of time, the price goes up. You don't want to send it at this time. You feel that the increase is almost 1800, and you want to close your position, that is, hedge your performance obligations. After hedging, you have no contract and no obligation to perform it.

Just sell the contract at 1800 during trading hours. If the deal is made, then you will make money, and you will earn 300 yuan per ton. Since the lot size of 1 is 10 ton, you earn 300 *10 = 3,000 yuan.

Okay, it's over. It's that simple.

At the time of delivery, the delivery is made according to the buying price or selling price of your contract. No matter what the spot price is, it is delivered at the price at which you establish the position.

For example, you buy at 1500 and hold it until September 10. At this time, the price is already 1900, and the goods can be delivered at 1500. If you buy it, you can resell it from the spot, of course, at the spot price.