Every futures contract has a certain month limit. On a certain day in the contract month, the trading of the contract will be stopped and the physical delivery will be prepared.

International commodity futures such as Chicago Board of Trade stipulates that the last trading day of corn, soybean, soybean meal, soybean oil and wheat futures is the seventh trading day from the last trading day of the delivery month.

For domestic commodity futures, the year and month are displayed in the commodity code, such as soybean oil contract 1005, that is, May 10 is the delivery month; The last trading day is the delivery month of the contract, that is, 15 in May. However, because individual households are not allowed to enter the delivery month, they will close their positions on the last trading day of April.

Extended data:

Characteristics of futures trading:

1, small and wide

Futures trading only needs to pay 5- 10% performance bond, and it can complete several times or even dozens of times of contract transactions. Due to the leverage effect of the futures trading margin system, it has the characteristics of "small and wide", and traders can use a small amount of funds to conduct large transactions, saving a lot of working capital.

2. Two-way transaction

In the futures market, you can buy first and then sell, or you can sell first and then buy, so the investment method is flexible.

3. Don't worry about performance.

All futures transactions are settled through the futures exchange, which becomes the counterparty of any buyer or seller and provides guarantee for each transaction. So traders don't have to worry about the performance of the transaction.

4. Market clarity

Trading information is completely open, and trading is conducted by means of open bidding, so that traders can compete openly under equal conditions.

5. Tight organization and high efficiency

Futures trading is a standardized transaction with fixed trading procedures and rules, which are linked one by one and operate efficiently. A transaction can usually be completed in a few seconds.

Baidu Encyclopedia-Futures Contract