The discount in futures refers to the difference between two different contract months, between futures contract and spot, and between delivery prices at different delivery locations.

For example, the price of a variety of xx0805 is higher than the price of xx080 1, that is, 0805 is equal to 080 1 liter of water; Or 080 1 attached to 0805. For another example, if the current price of 080 1 is higher than the spot price, it is said that 080 1 is a discount on the spot, or the spot is a discount on the futures.

There is also a discount, that is, the delivery price difference between different delivery locations. For example, in the wheat trade, when the final delivery is made, the delivery price of the same grade goods is different between the delivery warehouse in Henan and the delivery warehouse in Liaoning. If the delivery price in Zhengzhou is 1.550 yuan/ton, and in Liaoning it may be 1.530 yuan/ton, the price difference in 20 yuan is the discount range, which is originally an extra expense to cover the customer's freight.

Usually when the exchange announces the delivery warehouse, it will clearly indicate the discount range of different delivery warehouses in other places relative to the delivery warehouse where the exchange is located.