Why is the basis of corn starch futures always positive? Futures prices are much lower than spot prices, and so are many agricultural products. Why?
Futures are expected value, and they should be delivered on the delivery date, and there are inventory fees and handling fees in the middle. Not only do you see that the price needs to be raised a lot, so it will be much cheaper. Of course, there are also some big traders who rush to the futures market to buy contracts without trading, and then deliver them after delivery.